Today we’d like to introduce you to Dre Evans.
Hi Dre, please kick things off for us with an introduction to yourself and your story.
I whipped my head around and scanned my surroundings. The buildings. People. Cars. Everything.
Then I saw him.
A Black man wearing a hoodie and driving a beat-up red Honda came screeching around the corner. The back windows of the car rolled down, and two additional male figures emerged from both sides with guns pointed at me.
F*ck.
My heart dropped to the bottom of my stomach.
Pop. Pop. Pop. Pop. Pop. Pop. Pop. Pop.
Multiple gunshots rang out.
The next day I walked away from gang life on the South Side of Chicago. Several years later, I was at a coffee shop with a close friend of mine named Keegan when he mentioned the word “multifamily” to me, that started my trajectory into the business world. Keegan lived on the very top floor of a three-unit property. When we entered his place, we walked straight into the room he had converted into an office space. The apartment was a 3 bed+2 bath unit. Keegan sat down at his computer and opened up the REDFIN and HOMESNAP real estate websites. He then showed me how to effectively navigate the sites by implementing the filter options and then how to search for two- to four-unit multifamily properties on the Multiple Listing Service (MLS). I remember how I felt as Keegan scrolled up and down the website pages and the overwhelming sensation of awe I had at how each property on the screen was listed at $1 million dollars or more. My mind was blown. I thought to myself, how in the hell am I going to afford a property like this? I don’t have a million dollars in the bank. Next, Keegan explained that the rental income you receive from each unit can be used to help you qualify for the loan. He even showed me an example of a four-unit property within the Mission Hills submarket of San Diego, which he had considered purchasing before he bought the triplex in Bay Park. I left Keegan’s place that day with a new mentality about money and real estate. I realized that I had been thinking small. Growing up, money was always a concern in our household, and I thought that the best way to build wealth was to invest in stocks and max out my retirement account. From that moment on, I was 100% committed to investing in real estate. Over the course of 4 months, I read every book I could on multifamily real estate. Once I gained what I thought was enough foundational knowledge on the subject, I then submitted an offer on my first property – a $2 million dollar 4-unit property within the Pacific Beach submarket of San Diego. I remember how excited I was when my offer was accepted. And at first, everything about the purchasing process seemed to be going smooth. That is, until the third week, where I then started to receive pressure from the underwriter on being qualified for the loan. All in all, I was in escrow for 4 months attempting to close on my first multifamily property. Every week the underwriter came to the table with new requirements on what needed to be done to close the loan. My loan officer was a poor communicator and was hard to reach. And at the end, I was hit with over $10,000 in fines and fees from the seller’s agent. By God’s grace, on December 24th, I finally close on the property, and all the fine and fees imposed on me for extending escrow out to 4 months were waived.
Michael Blank, the author of the book “Financial Freedom” and a well-known Multifamily Syndicator, is known for coining the phrase “The Law of First Deal.” This doctrine states that when you close your first deal, it will catapulted you into future deals down the line. And right he was. After closing on my 4-unit property in Pacific Beach, in less than a year I then went on to close on a 12 unit in San Diego and a 75-unit apartment complex in Texas. I also started “the Multifamily By the Slice” real estate podcast, wrote an Amazon Best Selling Book on Investing in Multifamily Properties called “That’s My Property,” and am the Host of the #1 real estate meetup in San Diego called “Opportunity Knocks.”
We all face challenges, but looking back, would you describe it as a relatively smooth road?
No, it hasn’t been easy. Below are some of the struggles listed along the way.
– Surviving a Chicago gang and growing up in a thought life in Chicago
– Applying to the Naval Academy and fighting to graduate while majoring in Engineering
– Buying a $2 million dollar multifamily property in San Diego when all my family and friends told me not to
– Writing an Amazon Best Selling Book called “That’s My Property.”
– Writing a Wall Street Journal, Barnes and Noble, International, and Amazon Best Selling Book called “Prove Them Wrong.”
Thanks – so what else should our readers know about That’s My Property?
He is the CEO of “That’s My Property,” an investment firm that owns over 99 apartment units valued above $13M. When he is not analyzing real estate deals or writing in a coffee shop, Dre spends most of his time reading, engaging in outreach within the community, or working out. His dream is to teach more kids and young adults about the importance of financial literacy and the power of books.
I have experience in raising capital for real estate, asset management, and networking. I am known as a best-selling author and by the social media handle (drmultifamily). What sets me apart from others is my commitment to giving back to youth and others to inspire them to become the best versions of their selves mentally, financially, and spiritually. I use my background and experiences to reach people in an authentic and blunt way. I am most proud about the impact my books and podcasting have made on the lives of others.
I want readers to know about all of my books and the free resources provided on my website. I practically want to bring notice to my latest book, “The League of Wealth.” It’s the first EVER real state comic book. It’s a comic book – illustrated in Marvel and DC style – with superhero’s and villans, of how to buy a large apartment complex. God gave me a vision to produce this comic to teach people about real estate in a fun and engaging way.
How can people work with you, collaborate with you or support you?
Book a call with me to learn more about real estate, purchase and leave a review for the books, book me for a speaking event, and follow me on social media.
Follow me @drmultifamily on all social media platforms and at both my websites: drmultifamily.com & provethemwrongthebook.com
Contact Info:
- Website: Provethemwrongthebook.com & drmultifamily.com & multifamilybytheslice.com
- Instagram: @drmultifamily
- Facebook: @drmultifamily
- Linkedin: @drmultifamily
- Twitter: @drmultifamily
- Other: https://www.amazon.com/s?i=digital-text&rh=p_27%3ADre+Evans&s=relevancerank&text=Dre+Evans&ref=dp_byline_sr_ebooks_1
