I rent up in Seattle and rents have gone way, way up here, especially in the city of Seattle proper. My landlord raised my rent about 7% last year. I’ve been renting up here as I moved up here less than 2 years ago and still deciding if I want to buy & where I want to buy.
I own condo rental properties I bought in San Diego from 2009-2011 and vacancy rates are very low. I like to keep my rents a little below market so tenants feel they are getting a good deal and don’t bug you & stay for a long time to pay off your property for you. I have had zero vacancies and not one missed rent payment.
Also, as a reminder to make money investing, often you have to go against the crowds. I remember people right here on this forum arguing with me about buying condos in SD back from 2009-2011, thinking I was crazy. Bearishgirl telling me they would “depreciate” and that condos were bad investments. Those condos have all been AMAZING investments. I was buying 2 bed condos in good rental areas of SD for $130k-$150k like North Park, Rancho P., etc..(that now go for $300k+ and get $1,500/mo in rent). My mortgage payments on some of my condos aren’t much more then car payments. And back then in 2009 NOBODY WANTED THEM. Everyone was scared. Like Warren Buffet says, buy when others are fearful and sell when they are euphoric.
You have to be really careful who you listen to on these forums. There are a lot of big time long winded BS-ers that don’t know s**t. Try to get investing advice from someone who has a higher net worth than you. Not some flunkies on forums who may be flat broke yet handing out advice.
