Our guest today is Andrew Cushman, a multifamily real estate investor expert, owner of Vantage Point Acquisitions, and facilitator of the Multifamily Accelerator Mastermind. In this episode, we talk about how to succeed in the current real estate market, how to find the best deals, and the 4 steps to find overlooked deal opportunities. If you want to learn how to find deals before other people, then this episode is for you!
Learn more about Andrew and his journey at reiclarity.com!
“I pursued my goal relentlessly. And after 4500 cold calls, we got our first deal.”
Andrew started his career as a chemical engineer and got into house-flipping on the side. He turned it into his full-time business, and eventually transitioned into multifamily investing. His first multifamily deal was a 92-unit apartment building. As of now, Andrew had his fingers on over 2000 units.
According to Andrew, the 2 key things that led to his success were collaborating with the right people and relentless persistence.
Andrew talks about the importance of bringing additional team members in from the start.
“Finding a deal is probably the easiest way to get yourself into the business”
Andrew explains that in the current market, finding a good deal is the hardest part. A few years ago, it was raising the money.
The 4 key steps to finding overlooked deal opportunities:
- Know exactly what you’re looking for. Be as specific as you can.
- Know where you’re looking for the deal. Rather than trying to cover a huge area, pick 1-3 markets that you can effectively handle and go deep.
- Know what you’re going to do with the deal once you found it. Are you looking to co-GP with someone? Are you looking to syndicate?
- Start looking for deals just slightly out of your comfort zone
“I’m a big believer in third-party, especially if you’re looking to scale your business and really grow in terms of acquiring a number of units.”
At the end of the episode, Andrew picks action steps from the REI Clarity Framework that are the most valuable for him. These are the “Build Your Team” and “Know Your Strategy”.
Andrew highlights a good strategy for scaling faster. The key is to hire a really good, competent third-party management company and manage them. This way you become an asset manager, not a day-to-day operator.
Mentioned in the show:
Learn how to grow your portfolio and reach incredible success the right way! Visit us here for everything you need to know: www.shineinsurance.com/reiclarity.
Special thanks to Andrew Cushman for taking the time to share so many great insights with us
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Show produced by Eni Horvath