Published: Nov. 9, 2020, 10 a.m.
Andrew's Background:
- After obtaining a BS in Chemical Engineering from Texas A&M University, Andrew worked for a large food company for 7 years in a variety of supervisory positions, including Plant Manager where he was responsible for plant operations, maintenance, plant personal, and plant finances. Andrew specialized in turning around underperforming plants and departments and was relocated to various facilities throughout the U.S. to perform this task. In 2007 Andrew left his corporate position to start a business in real estate investment. Starting off with single family properties, Andrew completed 23 single family transactions (purchase, rehab, sell), all of which earned significant profits for both his business and investors. In 2010 Andrew transitioned full-time to the acquisition and repositioning of multifamily properties and has successfully acquired over 1,800 multifamily units to date. Outside of the business world, Andrew has been a certified alpine ski instructor and when not working in real estate enjoys surfing, backcountry skiing, and trying not to be outwitted by his two young boys.
In this episode we cover:
- 00:02:23 What deals Andrew looks at during COVID
- 00:07:04 Where priorities are for his business to protect his acquisitons
- 00:09:49 Criteria a property must meet to be a 'buy'
- 00:16:51 What to do today to be ready for a deal when it comes
- 00:22:28 Keeping tabs on brokers
- 00:26:06 Metrics that HAVE to be met
- 00:29:03 Underwriting new reserve rules
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*****Thank you so much for listening to the Making Money in Multifamily Real Estate Show! This show covers everything to do with Multifamily Real Estate Investing to help you, the listener, become an expert in your real estate ventures. The host, Dave Morgia, brings on guests who are already experts in their respective fields to discuss what principles and practices they follow that have helped them achieve their success so far.