All Forum Posts by: Zach Schwarzmiller

Demographics

It's been collapsing for a while. Was there any bright side to his outlook or all gloom and doom?

Ah, forgot to add another point, I would encourage you to have your agent (if you don't subscribe to the software to do this) provide you lists, demographics, employers, ect - the lists of reports that are available to us out there is insane.

When I am personally looking to invest or helping a client I will often swing by the cities economic/community development individuals office and have a chat. They can be a great resource for information, as can the building and permitting to see what's going on.I haven't spoke with Lisa in months now but she is very nice.

http://aberdeenwa.gov/department-directory/

Grant,

The problem with Aberdeen currently is that it’s located within Grays Harbor which overall as a county has the 2nd highest unemployment rate; however, they have a large deep water port and the only deep water port on Washington’s Pacific Coast. There was talk of having it be a crude oil gateway, but that has not gained traction yet. This would change everything in 10-20 year outlook, if it were incorporated. If you had a crystal ball and could predict that it would be in the future, it would be worth buying all these cheap properties in Aberdeen. Aberdeen is probably the largest retail center within the area, but it’s still not very strong. If you’re interested in demographics, I have these and would be happy to send them.

In the 26 unit were seeing a lot of seasonal workers come back for the winter wanting to lease up the past couple months.

Brandon may be able to elaborate more on this as he is local to the area.

I am not sure you can gather a real vacancy rate for "Aberdeen" as it would be hard to sift through all the stabilized and distressed data.

If it's in Aberdeen I am usually working with some sort of distressed property as I don't know anyone looking for stabalized units there.

Hi Grant,

I do not personally invest there but have helped clients buy/sell there. Currently under contract helping seller/buyer on a 26 unit downtown so I do all the underwriting and valuation. What questions do you have?

Ah, no worries! Perhaps in the future. MPB is local to Everett and one branch out of Lynnwood. Perhaps worth reaching out. Best of luck - sorry I can't be of more help, I am not as familiar with residential world.

Hello Gerald,

I don't have an answer to your question, but I was curious If your referring to single-family only? I've never seen this rule in commercial world. Mountain Pacific Bank has been great, but they mostly deal in the commercial/development world (is my understanding).

P.S. I noticed your in Kirkland attend our Snohomish County REI meetup if possible: http://www.meetup.com/SnoCo-Connected-Real-Estate-Investors/events/138912582/

Welcome, Tom! Join us at a Snohomish REI if your able.

http://www.meetup.com/SnoCo-Connected-Real-Estate-Investors/events/138912582/

Welcome Chante, we'll look forward to seeing you at our REI meetup when your in town!

http://www.meetup.com/SnoCo-Connected-Real-Estate-Investors/events/138912582/