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All Forum Posts by: Drew Mim Mack

Drew Mim Mack has started 7 posts and replied 57 times.

Post: Rose Village is HOT right now, what's the next neighborhood

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20
I sold my rental in Rose Village 6 months to soon. Price skyrocketed 15%. Are there any others "UP AND COMING" neighborhoods in the area and why do you think so?

Post: Not to be confused with Vancouver BC...

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20
What day and time do they meet? Is it the Round Table by Van Mall!?!

Post: Is anyone apart of CCRA?

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20
Hey Austin, I live in Vancouver Washington and I've been a part of CCRA for the past 2 years. The monthly meetings are nice, $25 for a nice dinner and great topics. I've found it's better to attend the meetings than it is to become a member but that's my experience. I'd love to chat as I'm pushing closer to my next deal. Feel free to call or text. 503_308_2980

Post: Every renters deposit STOLEN by new apartment owner Vancouver, WA

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20

@Account Closed

UPDATE: tenant was misinformed.  The new landlord has all deposits but required twice as much.  Every resident has to play catch up with raised deposit requirements.  All is good in Vancouver, WA :)

Post: New Member From Las Vegas, Nevada

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20

welcome to BP @Tony Blaine!!! This is definitely the place to learn and grow your REI game

Post: 20 unit complex analysis- 45% occupancy

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20

@James DeRoest

 Hahahahahahahahahahahaha!!!  I guess that comment was a little judgmental.  FYI-I'm not planning on investing in tornado alley either :) 

Post: 20 unit complex analysis- 45% occupancy

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20

It sounds like I should be investing in Texas!  I'd wait to hear from more experienced investors but I think your numbers are decent.  Good luck!  Use the BP Analysis tools at www.biggerpockets.com/analysis that should shed some light on your deal.

Post: 20 unit complex analysis- 45% occupancy

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20

Do you really want to invest where there are Hurricanes?  That's kind of a red flag for me.  The numbers looked decent but I didn't analyze them.  Max capacity income is between 10k-15k a month but why is capacity so low?  That's kind of a red flag too.  I would want to know WHY I wanted to be in a that market.  What in the area is attracting tenants to move there?  College?  Industry?  There is soooo much I could say about this but I'd like to read from some of the more experienced BP members.

Post: Staining Concrete?

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20

OMG, I love it!  Concrete floors are a brilliant idea!  @JaMarcus Josephdid the floors have any cracks in it?  Do you know how old the floor was?

Post: National Lenders - The Unicorn in the room or is it?

Drew Mim MackPosted
  • Real Estate Investor
  • Vancouver, WA
  • Posts 58
  • Votes 20

If you remember @Jeff Greenberg said that the bank contacted his broker and then the broker came to him. So, it wasn't him that sought out lending, it was his "relationship" with his broker that led to the deal. Lean on your brokers or agents, ask if they know REI friendly banks or know properties that are REO's. Jeff also talked about how it was a portfolio deal and completely in-house and he didn't even have to apply for the loan, he just provided his financial reports. If I were you I'd listen to the podcast again. The bank needed someone who had attractive financial statements and brought professionalism. He was also a passive portfolio investor in 700+ units which impressed the banks. This was a Bigger Pockets real estate success story that happened to be on a podcast.

Look for good deals that have unpaid taxes, under managed, etc.  If the bank views the property as a pain point and you have the ability to alleviate that pain then you got a shot.  Bring professionalism, a resume, impressive financials etc.  Consider upgrading to BP PRO so you can use the analysis tools and print property reports.  @Brandon Turner raves about the value of the financial reports that BP can create.  Check it out at www.biggerpockets.com/analysis.  As a member you get to try it out a couple of times for free.  Quick Tip: if you're going to upgrade to PRO, do it during a webinar because of all the perks you get.