Podcast appearances and mentions of andrew cushman

On this episode of the Best Ever CRE Show, Pascal Wagner interviews Andrew Cushman, founder of Vantage Point Acquisitions. Andrew shares his journey from chemical engineer to successful multifamily investor, highlighting how he transitioned from flipping homes to acquiring nearly 3,000 multifamily units across the Southeast. He breaks down his firm's buy box strategy, emphasizing the importance of management value-add, demographic targeting, and property size for operational efficiency. The conversation also explores how LPs can vet operators more effectively, the significance of operator SOPs, and a deep dive into the current trend of preferred equity raises and their implications for passive investors. Andrew Cushman Founder/Principal Based in: Southern California Say hi to them at www.vpacq.com www.linkedin.com/in/andrewcushmanvpa Capital Gains Tax Solutions vikingcapllc.com Learn more about your ad choices. Visit megaphone.fm/adchoices

In this episode, we sit down with Andrew Cushman, a former chemical engineer turned real estate investor, to talk about long-term success, market timing, and building a strong foundation for growth. He shares how he transitioned from flipping houses to managing multi-family properties and why experience, structure, and the right team matter now more than ever.Andrew breaks down today's real estate market and how investor behavior is changing. He explains why raising capital is harder, what distressed assets mean for seasoned operators, and how to stay ahead by focusing on long-term value instead of short-term gains. We also dive into how he hires the right people, treats tenants with care, and builds a business that lasts decades, not just years.We wrap with Andrew's personal investment approach, how he finds balance between syndications and long-term holdings, and the value of mastermind groups in staying sharp. Whether you're new to real estate or already in the game, this episode offers insight on how to stay focused, be patient, and grow with purpose!===Key Topics:-How Andrew Cushman got started in real estate and built his business-Why the market today needs more patience and smart planning-What to know about buying distressed properties and long-term value-How to build the right team and treat tenants the right way-Why networking and having a clear plan help you stay ahead===

As we kick off the new year, we're celebrating the Best of 2024, featuring the most impactful episodes of the year! In our third spotlight, we bring back an audience favorite: Andrew Cushman's inspiring journey from chemical engineering to real estate success.In this episode, Andrew shares:Creative financing strategies that drive profitable deals.His transition to multifamily investments and market expertise.Key insights into cap rates, market trends, and interest rate impacts on investments.Andrew's optimistic outlook and actionable advice make this episode a must-listen for anyone looking to gain an edge in the real estate world.Ultimate Shownote:00:03:35 - Andrew Cushman's Entrepreneurial Journey00:07:10 - Transition to Multifamily Investments00:09:11 - First Syndication Deal Experience00:11:34 - Discussion on Creative Financing00:17:22 - Nuances of Creative Financing Structures00:18:24 - Transition to Multifamily Market Analysis00:22:51 - Overview of Current Multifamily Market Trends00:26:18 - Impact of Capital Demand on Market Dynamics00:30:07 - Discussion on Cap Rates and Market Conditions00:36:17 - Brokers' Role in Market Pricing Dynamics00:40:37 - Insights on Florida Real Estate Investments00:46:57 - Speculation on Federal Reserve Rate CutsTurn your unique talent into capital and achieve the life you were destined to live. Join our community!We believe that Capital is more than just Cash. In fact, Human Capital always comes first before the accumulation of Financial Capital. We explore the best, most efficient, high-integrity ways of raising capital (Human & Financial). We want our listeners to use their personal human capital to empower the growth of their financial capital. Together we are stronger. LinkedinFacebookInstagramApple PodcastSpotify

Are you just starting out in real estate investment and finding yourself drawn to cheap properties, thinking they're the best option for quick profits? You're not alone! In today's episode, we delve into the real-life challenges and costly mistakes that come with investing in cheap properties. Join Brian Davis and Andrew Cushman, founder of Vantage Point Acquisitions, as he shares invaluable insights from his personal experiences and why cheap properties are often the most expensive. This episode is packed with real-world advice, practical solutions, and guidance on how to avoid these pitfalls, making it a must-watch for any investor looking to optimize their portfolio. With a more selective investment strategy focusing on class B properties, Andrew shows how you can reduce risk, attract better property managers, and still achieve solid returns. His tips will guide you in making smarter decisions that minimize risk and maximize long-term success in real estate. 10 Things You'll Learn in This Episode: 1. The Hidden Costs of Cheap Properties -why inexpensive real estate investments often come with unforeseen expenses that can erode your profits. 2. Lessons from a Real Estate Nightmare -how Andrew Cushman's experience with a 348-unit property taught him the true cost of ""affordable"" investments. 3. The Impact of Crime and Location -learn why the quality of a neighborhood directly influences the success of a property. 4. The Role of Tenant Turnover in Profitability -discover how high eviction rates and tenant churn affect your bottom line. 5. The Importance of Screening Investments -understand the criteria Andrew uses to evaluate properties and avoid costly mistakes. 6. Class C vs. Class B Properties -find out why class B properties in better neighborhoods often yield more consistent and profitable returns. 7. The Challenge of Property Management in Rough Areas -insights into why good property managers avoid working in bad neighborhoods—and what that means for investors. 8. Minimizing Downside Risk -how focusing on risk mitigation can lead to better investment decisions and long-term success. 9. Breaking the Spreadsheet Illusion -why properties that look great on paper often fall short in real-life scenarios. 10. Strategies for Smarter Real Estate Investing -practical advice for avoiding the beginner traps and building a more resilient and lucrative portfolio. Key Takeaways:

In this episode, you'll gain a comprehensive understanding of the current real estate market dynamics, the impact of interest rates on property values, and the future outlook for multifamily investments. Andrew Cushman the founder of Vantage Point Acquisitions, who brings over a decade of experience managing over 2,800 workforce housing units across the Southeastern U.S. Andrew's expertise provides invaluable insights into navigating the complex world of real estate investing today and what the next decade may hold for the market and breaks down the challenges faced by investors in the post-pandemic era, including the structural housing shortage and its implications for rent growth. If you've been pondering how to navigate this dynamic environment, this conversation is your roadmap. We explore the macroeconomic forces shaping real estate, the supply-demand imbalances, and actionable strategies to position yourself for success. Whether you're a seasoned investor or just starting out, this episode is packed with actionable insights and future-focused predictions! What You'll Learn in This Episode

ABOUT ANDREW CUSHMANAndrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007 Andrew left his corporate position to start a business in real estate investing, starting off flipping single-family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2600 multifamily units. 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 children.   THIS TOPIC IN A NUTSHELL: Andrew's career and what made him switch to real estate From chemical engineer to SyndicatorPartnership with Vantage Point acquisitionsHis big mistake early onTypical hold time for assetsWhich location do they focus on buying assets? Their target buy boxFinding deals and underwritingBuilding relationships with brokersHow do they approach capital raising?About the 80-unit Deal in Carrolton GeorgiaHow did they find it and why did they pursue it?Value Add plan and stabilization of the propertyBuying right even with a down marketConnect with Andrew  KEY QUOTE: “The best time to buy is when the pessimism is at the highest, you will get the best pricing with the least competition. “  SUMMARY OF BUSINESS:Vantage Point Acquisitions (VPACQ) is a real estate private equity firm focused on acquiring, repositioning, and operating B- to A-class multifamily communities throughout the Southeast. As operators, we take pride in our hands-on asset management approach and transparent investor communications throughout the life cycle of the investment.   ABOUT THE WESTSIDE INVESTORS NETWORK   The Westside Investors Network is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.     The Westside Investors Network strives to bring knowledge and education to real estate professionals that is seeking to gain more freedom in their life. The host AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing. They own Uptown Properties, a successful Property Management, and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas, please visit www.uptownpm.com. If you are interested in investing in multifamily syndication, please visit www.uptownsyndication.com.    #RealEstateInvesting #RealEstate #Syndication #AparmentInvesting #Multifamily #AssetManagement #MultifamilyInvestment #PropertyManagement #GeneralPartner #LongTermInvesting #BuyRight #DownMarket #MarketShift #DownTurn #Acquisitions #AssetStabilization #Renovation #OperationValueAdd #ManagementValueAdd #CapitalImprovement #LandLordFriendlyStates #TenantFriendlyStates #Underwriting #InvestorBased #LongTermAssets #RaisingCapital #RealEstateInvestment #RentalProperty #PassiveWealth #WealthBuilder #InvestmentInsights #JoinTheWINpod #WestsideInvestorsNetwork CONNECT WITH ANDREW:Website: https://www.vpacq.comLinkedIn: www.linkedin.com/in/andrewcushmanvpa    CONNECT WITH US   For more information about investing with AJ and Chris:  ·    Uptown Syndication | https://www.uptownsyndication.com/  ·    LinkedIn | https://www.linkedin.com/company/71673294/admin/   For information on Portland Property Management:  ·    Uptown Properties | http://www.uptownpm.com  ·    Youtube | @UptownProperties     Westside Investors Network  ·    Website | https://www.westsideinvestorsnetwork.com/  ·    Twitter | https://twitter.com/WIN_pdx  ·    Instagram | @westsideinvestorsnetwork  ·    LinkedIn | https://www.linkedin.com/groups/13949165/  ·    Facebook | @WestsideInvestorsNetwork  ·    Tiktok| @WestsideInvestorsNetwork  ·    Youtube | @WestsideInvestorsNetwork  

What does it take to leave a stable career and pursue financial freedom? In this conversation, Andrew Cushman, founder of Vantage Point Acquisitions, shares how he transitioned from chemical engineering to managing over 2,600 multifamily units. Listeners will discover how he navigated the 2008 financial crisis, avoided real estate pitfalls, and built lasting wealth through multifamily investments.   Curious about how to grow in real estate and take strategic risks? Tune in to hear Andrew's insights on creative financing, the power of mentorship, and making big career moves. Don't miss learning what it takes to shape your financial future!   00:00 - Welcoming Andrew and his Background 05:12 -Transitioning from Chemical Engineering to Real Estate 12:16 - House Flipping to Multifamily Investing 17:36 - Importance of Mentorship and First Multifamily Deal 22:56 - Challenges in Rough Neighborhoods 28:00 - Real Estate Syndication and Investing with a Team   Connect with Andrew! Website: http://www.vpacq.com/ LinkedIn: https://www.linkedin.com/in/andrewcushmanvpa/   Be the Boss of Your Own Money and Own Your Future. Connect with us and Discover Investment Strategies Designed to make a Difference. Website: https://moneywithmission.com Linkedin: https://www.linkedin.com/in/moneywithmission   Key Quotes: "There's no such thing as a bad market, just a bad strategy." – Andrew Cushman   "The best time to buy is when pessimism is at its peak." – Andrew Cushman 

What does it take to leave a stable career and pursue financial freedom? In this conversation, Andrew Cushman, founder of Vantage Point Acquisitions, shares how he transitioned from chemical engineering to managing over 2,600 multifamily units. Listeners will discover how he navigated the 2008 financial crisis, avoided real estate pitfalls, and built lasting wealth through multifamily investments.   Curious about how to grow in real estate and take strategic risks? Tune in to hear Andrew's insights on creative financing, the power of mentorship, and making big career moves. Don't miss learning what it takes to shape your financial future!   00:00 - Welcoming Andrew and his Background 05:12 -Transitioning from Chemical Engineering to Real Estate 12:16 - House Flipping to Multifamily Investing 17:36 - Importance of Mentorship and First Multifamily Deal 22:56 - Challenges in Rough Neighborhoods 28:00 - Real Estate Syndication and Investing with a Team   Connect with Andrew! Website: http://www.vpacq.com/ LinkedIn: https://www.linkedin.com/in/andrewcushmanvpa/   Be the Boss of Your Own Money and Own Your Future. Connect with us and Discover Investment Strategies Designed to make a Difference. Website: https://moneywithmission.com Linkedin: https://www.linkedin.com/in/moneywithmission   Key Quotes: "There's no such thing as a bad market, just a bad strategy." – Andrew Cushman   "The best time to buy is when pessimism is at its peak." – Andrew Cushman 

What strategies can multifamily investors use to navigate market fluctuations and ensure long-term success? This week, Andrew Cushman discusses the intricacies of asset management and investment strategies. He shares his journey from a chemical engineer to a successful real estate investor, emphasizing the importance of managing assets effectively to maximize returns. They dive into the current state of the multifamily market, exploring how different asset classes and regions are performing. Andrew also provides insights into his conservative underwriting approach and the significance of fixed-rate debt in uncertain economic times.[00:01 - 07:25] The Journey BeginsTransition from chemical engineering to real estateImportance of a supportive business partnerEarly challenges and lessons in house flipping[07:26 - 14:49] Multifamily Market InsightsThe bifurcated state of the multifamily marketImpact of market cycles on rental incomeRegional differences in market performance[14:50 - 21:39] Conservative Underwriting ExplainedDefinition and importance of conservative underwritingExamples of conservative assumptions in real estate dealsHow to mitigate risks through conservative strategies[21:40 - 28.43] Asset Management MasteryCritical role of asset management in real estate successStrategies for effective property managementThe importance of hands-on involvement in managing properties[28:44 - 34:42] Future of Real Estate and Interest RatesPredictions on interest rate trendsThe significance of fixed-rate loans in uncertain timesPreparing for future market opportunitiesConnect with Andrew:Website: https://www.vpacq.com/LinkedIn: www.linkedin.com/in/andrewcushmanvpaLEAVE A 5-STAR REVIEW by clicking this link.WHERE CAN I LEARN MORE?Be sure to follow me on the below platforms:Subscribe to the podcast on Apple, Spotify, Google, or Stitcher.LinkedInYoutubeExclusive Facebook Groupwww.yonahweiss.comNone of this could be possible without the awesome team at Buzzsprout. They make it easy to get your show listed on every major podcast platform.Tweetable Quotes:"My philosophy is live where you love to live and invest where the returns are the best." - Andrew Cushman"When you're investing, don't make your investment completely contingent on the market or any other outcome going one way." - Andrew Cushman"The most important thing in making money in multifamily is asset management." - Andrew CushmanSupport the Show.

Even though B Class apartment prices have come down 20%-30%, sales volume for these properties is still at a ten-year low. Prices are still not low enough in most cases, however, to make sense in today's interest rate environment. In Class C apartments, this is even more the case. Prices still have a ways to go further contract before they make sense. Andrew Cushman, Founder and Principal of Vantage Point Acquisitions, owns B to A- class garden style properties in secondary and tertiary markets in Georgia and Florida panhandle. Despite headwinds that have plagued many other operators, Andrew's portfolio continues to excel and perform according to proforma. 

In this episode, Andrew Cushman discusses best practices for evaluating multifamily deals and operators as a passive investor. He outlines several red flags to watch out for, such as sponsors only providing one return metric or making assumptions above market trends. Plus the importance of assessing the sponsor's track record, focus, and reputation in the market. Cushman also discusses the current multifamily market environment conditions for acquisitions. In the coming years as new development remains constrained, he advises investors to have a probabilistic mindset rather than making predictions. Cushman then gives us direct access to details on how he structures debt and acquires properties responsibly. You'll discover the best practices for deal evaluation, get Cushman's outlook on the current cycle, and learn how to structure investments for different economic scenarios. His expertise will help passive investors make well-informed investment decisions.Here are 3 key takeaways from this episode:Key red flags to watch out for in sponsors and deals: unrealistic assumptions, lack of transparency, and only providing one return metric.The importance of evaluating a sponsor's track record, focus, and reputation in the local market.How to structure multifamily debt and investments to provide flexibility for different economic scenarios, such as rising or steady interest rates.Andrew Cushman is sharing his top strategies for evaluating multifamily deals, sponsors, and market conditions. Tune in to discover how to structure your investments for different economic scenarios and navigating the real estate cycle as a passive investor.Timestamps:00:40 - Introduction to Andrew Cushman's background and experience02:07 - Current state of the multifamily market and acquisition challenges  02:48 - Importance of doing good deals and maintaining a positive culture05:43 - Keeping an acquisition team motivated during difficult markets12:19 - Outlook on the current real estate cycle and when to invest16:16 - Non-negotiables Andrew looks for in multifamily deals23:54 - Transitioning asset focus and risk mitigation strategies25:20 - Challenges of different property classes and locations30:06 - Evaluating return metrics and red flags in sponsor projections  35:43 - Importance of a sponsor's track record and local market expertiseVISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow

Wealth transfer in 2024 is poised to significantly influence the real estate landscape, triggering some of the most substantial investment shifts in recent history. In this episode, Tejas Gosai sits down with multifamily investment expert Andrew Cushman to dissect what could be the largest transfer of wealth the industry has seen.Throughout the conversation, they delve deep into the current dynamics of the multifamily real estate market, highlighting its resilience and ongoing investor interest despite economic uncertainties. Andrew provides a detailed analysis of the factors driving market opportunities and challenges, particularly emphasizing the significant wave of debt maturing in 2024. This looming deadline could pressure property owners, as refinancing becomes more daunting with rising interest rates combined with potential declines in property valuations.Andrew also details how this precarious situation might precipitate a notable wealth exchange. As some investors struggle to keep pace with financial obligations, high-quality assets may hit the market under distressed conditions. This scenario provides savvy investors with a golden opportunity to acquire valuable properties at a fraction of the cost, potentially reshaping the investment landscape.Moreover, the episode doesn't just outline the problems but also explores strategic approaches to capitalize on these upcoming real estate investment opportunities. Andrew offers actionable advice for both new and seasoned investors aiming to navigate the complexities of the 2024 market exquisitely.Don't miss out on this insightful exploration of a pivotal moment in real estate investment. Listen to the episode, share it with peers and colleagues who could benefit from this expert analysis, and subscribe to the Real Estate Investor MBA podcast for more essential real estate investment wisdom and guidance.===We are committed to helping professionals diversify their portfolios and find a greater work-life balance.  I work at www.lvpefund.com, and we represent doctors, lawyers, and high-net-worth professionals to invest in secure real estate assetsApply Here: https://www.lvpefund.com/questionnaireBook Fund Manager, Tejas Gosai: https://www.lvpefund.com/invest

My YouTube show/podcast guest today is Andrew Cushman, founder and principal of Vantage Point Acquisitions, who shares his experience and insights on remote management of multifamily real estate assets from the other side of the country, discussing the challenges and strategies for successful long-distance investing. We discuss the current state of the multifamily market and how rising interest rates have impacted prudent sponsors' ability to acquire new properties. Andrew talks about the spread between what sellers are asking and what buyers are bidding, and discusses the various factors that may lead to a surge in properties coming to market in the near future. Andrew also shares his philosophy on optimal deal sizes for efficient management, revealing the "sweet spots" at 120 and 220 units where fixed costs can be spread most effectively. He explains how his company has adapted to the changing market conditions and maintained strong performance despite challenges such as rising insurance costs. As an active LinkedIn user, Andrew also provides insights into his content strategy and the types of posts that tend to generate the most engagement. From market analysis to the realities of property management, he aims to share valuable information and connect with his audience. **** In this brand new podcast series at GowerCrowd, The Real Estate Reality Show, we take a realistic view of commercial real estate investing, providing pragmatic insights for passive investors who are looking for sponsors they can trust and distressed opportunities they can invest in. You'll find no quick fixes or easy money ideas here, no sales pitches, big egos or hype. You'll learn how to build your wealth while protecting your capital investing as a limited partner in commercial real estate investments, even and especially during an economic downturn. Subscribe to our free newsletter here.

Today's Flash Back Friday episode is from #116 that originally aired on Jun. 14, 2016. Our guest for this week's show is Multifamily Investor and full-time syndicator, Andrew Cushman. In today's show, we'll be speaking with Andrew in detail about how he went from being a full-time chemical engineer to a full-time multifamily syndicator who has amassed 1,470 doors in just over 5 years. Andrew will share with us intimate details on his first deal, which was a 92-unit apartment in Macon, GA that was 75% vacant and the lessons he learned from this first experience. He will also share the exact systems and processes that he uses to find deals in todays marketplace so that you can replicate these same ideas in your own business. Andrew's story is both inspirational and motivating as it truly shows what true grit and raw determination can afford us in this business. I'm positive that you'll enjoy and gain huge amounts of value from our show today.   In this show with Andrew you're going to learn:  How Andrew transitioned from being a chemical engineer to a full-time fix and flip real estate investor before deciding to focus on syndicating multifamily properties. Learn about the trials and tribulations he experienced with his first multifamily deal, which was a 92 unit property in Macon, GA which was 75% vacant at the time of purchase and more than 2,700 miles away. How he was able to continue to thrive as an investor, even during the downturn of 2007 and 2008. How he found his first mentor who trained him in the multifamily space. How he found funding for his first multifamily deal through the relationships he had built while fixing and flipping residential homes. Why he's attracted to the Southeastern states and feels there are multiple secondary and tertiary that are experiencing positive growth. What underlying fundamentals Andrew looks for in the markets he invests in. For example; population, median house prices, median incomes, crime rates, job growth, etc and which websites he uses to perform this research. The step-by-step process he goes through to find high quality property management companies in markets where he has no presence or existing relationships. What relentless persistence means to Andrew and how it took him 4,576 calls to get his first deal. And much more    ☑️ Recommended Resources: Check out our company and our investment opportunity by visiting www.SunriseCapitalInvestors.com Self DirectedIRA Investment Opportunity–Click Here: https://www.advantaira.com/partners/s... To Learn More About How You CanInvest With Us Through Your SDIRA Accredited Investors Click Here: https://sunrisecapitalinvestors.com/ to learn more about partnering with me and my team on Mobile Home Park deals! Grab a free copy of my latest book “The 21 Biggest Mistakes Investors Make When Purchasing their First Mobile Home Park...and how to avoid them MobileHomeParkAcademy.com Schedule your free 30 minute "no obligation" call directly with Kevin by clicking this link https://www.timetrade.com/book/KV2D2

Get my new book: https://bronsonequity.com/fireyourself Download my new special report - How to Use Inflation to Your Advantage - www.bronsonequity.com/inflation Welcome to this episode! Today, we're diving into the dynamic world of real estate investment with our esteemed guest, Andrew Cushman, Founder & Principal at Vantage Point Acquisitions. Andrew's journey from chemical engineer to real estate mogul is a testament to the transformative power of entrepreneurial spirit. Join us for an enlightening discussion as Andrew shares his insights garnered from over a decade of experience in the industry. Departing from his corporate roots in 2007, Andrew ventured into real estate investment, initially focusing on flipping single-family properties in Southern California. Sensing market shifts, he adeptly transitioned to multifamily acquisitions in 2011, successfully syndicating and repositioning over 2,600 multifamily units. In this episode, Andrew delves into the intricacies of real estate investment during uncertain times, shedding light on the benefits and challenges inherent in navigating the ever-changing landscape of the multifamily market. With his finger on the pulse of the industry, Andrew provides invaluable insights into the current state of the real estate market and identifies potential investment opportunities ripe for exploration. From discussions on equity, funding, and market trends to the importance of staying informed and prepared for investment opportunities, Andrew offers a wealth of knowledge to both seasoned investors and newcomers alike. His expertise and perspective are not to be missed. Tune in now to gain exclusive access to Andrew Cushman's wealth of experience and unlock the keys to success in the dynamic world of real estate investment. Whether you're a seasoned investor or an aspiring entrepreneur, this episode promises to inform, inspire, and empower. Don't miss out! TIMESTAMPS 00:43 - Guest Introduction: Andrew Cushman 02:54 - The benefits of investing in real estate during uncertain times 05:36 - Challenges in closing deals in the changing multi-family market 09:34 - The current state of the real estate market and potential investment opportunities 20:09 - Equity, funding, and market trends in the business world 20:50 - The importance of staying informed and being prepared for investment opportunities Connecting with the Guest: Website: https://www.vpacq.com/home Linkedin: https://www.linkedin.com/in/andrewcushmanvpa/ Youtube: https://www.youtube.com/channel/UCr_PLJ2AoRH6PNc7Zi27XPA #RealEstateInvesting #MultifamilyMarketInsights #FinancialFreedom

In this episode, the guest, Andrew Cushman, shares his journey from chemical engineering to successful real estate investing. With a focus on creative financing and multifamily investments, Andrew provides valuable insights and practical advice. He discusses the current market trends, emphasizing the importance of understanding cap rates and the impact of interest rate changes. Andrew's expertise shines through as he navigates complex topics with clarity and confidence. Andrew's optimistic outlook and practical tips make this episode a must-listen for aspiring real estate investors.Ultimate Shownote:00:02:35 - Andrew Cushman's Entrepreneurial Journey00:05:30 - Transition to Multifamily Investments00:08:11 - First Syndication Deal Experience00:10:34 - Discussion on Creative Financing00:16:22 - Nuances of Creative Financing Structures00:18:24 - Transition to Multifamily Market Analysis00:21:51 - Overview of Current Multifamily Market Trends00:25:18 - Impact of Capital Demand on Market Dynamics00:29:07 - Discussion on Cap Rates and Market Conditions00:34:17 - Brokers' Role in Market Pricing Dynamics00:39:37 - Insights on Florida Real Estate Investments00:42:57 - Speculation on Federal Reserve Rate CutsTurn your unique talent into capital and achieve the life you were destined to live. Join our community! We believe that Capital is more than just Cash. In fact, Human Capital always comes first before the accumulation of Financial Capital. We explore the best, most efficient, high-integrity ways of raising capital (Human & Financial). We want our listeners to use their personal human capital to empower the growth of their financial capital. Together we are stronger. LinkedinFacebookApple Podcast

"If you're getting in and starting now this is the golden opportunity that we've been waiting for for 10 years." -Andrew Cushman   Today I am interviewing Andrew Cusman. He is the Founder and Principal of Vantage Point Acquisitions, a private equity firm providing investment opportunities in multifamily assets. He has presented at FIBI Pasadena as well as been a former guests on my podcast. He has been featured on platforms like Bigger Pockets and Real Estate Rookie.    Andrew Cushman: Graduated from Texas A&M with a degree in chemical engineering. In 2006 Andrew and his wife started flipping houses in southern California right before the 2008 crash. Then Andrew began his journey into multi family investing.  TOPICS COVERED IN THE EPISODE   Why did Andrew get into multi-family investing  Where is money made in multi family investing Become an expert in one thing Is the multi-family market suffering Where are we finding stress in the market  How do cap rates work on commercial properties  Why have insurance premiums gone up all over the country  How do variable loan rates effect current properties  What is Andrews secret sauce Are syndicators underwater  Why is now time to invest Why is new construction falling  Money is made on the operations  Giving back to your onsite teams Build relationships with property managers    Listen now and find out how Andrew found her Real Estate Breakthrough!   The Real Estate Breakthrough Show with Christina Suter is where we talk about the reality of real estate, the mindset you need and the tips and tricks to get you moving forward in investing. Join us every other week and learn everything you need to know to invest in real estate on Youtube, iTunes, Spotify, and more. You can watch Andrew's interview on Youtube here.    Find out more about Andrew here:    Website VAPACQ.com LinkedIn Andrew Cushman

Multifamily real estate investing can be scary to a new investor. After all, buying more units requires more money, more resources, and a larger team. But today's guest is here to show you that multifamily investing is not nearly as intimidating as it may seem and why NOW is the perfect time to get started! Welcome back to the Real Estate Rookie podcast! In this episode, Andrew Cushman delivers a masterclass in multifamily real estate. Andrew got his start flipping houses for profit, only to find that he was missing out on the consistent cash flow and long-term appreciation of buy and hold properties. So, he dived headfirst into the world of multifamily investing. Today, he shares how he landed his first multifamily deal—the good, the bad, and the ugly. If you've ever considered buying multifamily properties, Andrew explains why you should start now. He also offers some essential tips for investing in today's market and provides a wealth of resources to help you define your perfect buy box. Finally, you're going to need the right people around you to tackle multifamily real estate. Andrew shows you how to build your team and how to pitch a long-term buy and hold property to potential investors! In This Episode We Cover: Why NOW is the perfect time to start investing in multifamily real estate Three ways to fund your first multifamily deal (with other people's money!) Multifamily deal analysis and tips for buying in today's market The two CRITICAL deal analysis mistakes that investors make How to assemble a high-performing team for your multifamily business And So Much More! Links from the Show Find an Agent Find a Lender Ashley's BiggerPockets Profile Ashley's Instagram Tony's BiggerPockets Profile Tony's Instagram Real Estate Rookie Facebook Group Join BiggerPockets for FREE Ask Us Your Investing Question Apply to Be a Guest on the “Real Estate Rookie” Podcast Grab Your Copy of David Greene's Book, “Long-Distance Real Estate Investing” Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily Deal w/ Andrew Cushman The 8 Steps That Will Stop You From Getting Burnt on Multifamily Deals w/ Andrew Cushman Why Self-Storage Beats Rental Properties w/ AJ Osborne Resources to Help You Build Your Buy Box: JCHS ESRI FEMA BLS Rich Blocks Poor Blocks Bright Investor Neighborhood Scout Connect with Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Vantage Point Acquisitions   Check the full show notes here: https://www.biggerpockets.com/blog/rookie-346 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email: advertise@biggerpockets.com Learn more about your ad choices. Visit megaphone.fm/adchoices

“Want to invest in multifamily real estate, do zero work, and make a million dollars, all in a few months? Well, we have the opportunity for you! We're about to make you a gazillionaire for the low, low price of your entire life savings. Don't worry about doing any due diligence; just sign these papers without looking through them. You're about to strike it rich!” Most people can call out an obvious scam or bad real estate deal, but what about the less-than-obvious signs? Today, we've got two multifamily real estate experts, Andrew Cushman and Matt Faircloth, on the show to go through the multifamily and syndication red flags that could cost you EVERYTHING. Andrew even went through the painful process of losing 90% of an investment years ago just to walk through his lessons on the show. Whether you're partnering on a deal or passively investing in syndications, if any of these red flags show up, you should run—immediately. From vetting a sponsor to investigating track records, which metrics to trust (and which NOT to), and the questions you MUST ask, this episode alone could stop you from losing tens or hundreds of thousands of dollars. In This Episode We Cover: The seven deadly signs that a multifamily syndication deal is a scam (or at least a dud) Vetting a sponsor/syndicator and why you MUST avoid “FOMO investing” Partnerships, inexperienced sponsors, and who you can REALLY trust The new financial “metric” unsophisticated syndicators hope you DON'T look into  The “capital stack” explained, and how to do your due diligence on a syndication's debt (before you invest) And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Be a Guest on the BiggerPockets Podcast David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube BiggerPockets Podcast 636 with Amy Mahjoory (Part 1) BiggerPockets Podcast 352 with Diego Corzo Join BiggerPockets Pro and Start Investing for Financial Freedom TODAY Ask David Your Question Book Mentioned in this Show Pillars of Wealth by David Greene Raising Private Capital by Matt Faircloth The Richest Man in Babylon by George S. Clason: The Hands-Off Investor by Brian Burke Connect with Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Vantage Point Acquisitions Connect with Matt: Matt's BiggerPockets Profile Matt's Instagram DeRosa Group Learn more about your ad choices. Visit megaphone.fm/adchoices

Andrew Cushman has successfully syndicated and repositioned over 2,700 multifamily units. Outside of the business world, Andrew enjoys surfing, backcountry skiing, and trying to not be outwitted by his two young children. Main point:What is passive investing in real estate, and how does that differ from most people's perceptions about real estate investing?How does passive investing in a real estate syndication differ from investing in a single-family home?What is the secret tool for using 401Ks and IRAs to build our retirement portfolios?What are the major factors to consider before making any passive investment? Investment goalsRisk ToleranceCapital Commitment (how much capital do you have to commit)Diversification – can act as hedge against stock market volatility & offer portfolio stabilityTax implicationWhat common myths do we often hear regarding alternative investing, particularly passive real estate investing? Myth 1: alternative investments are only for the ultra-wealthyMyth 2: Alternative investments are highly riskyMyth 3: Alternative investments lack transparencyDoes Wall Street actually protect your investments?Liability coverageProperty damage coverageBusiness interruption insuranceCommercial Insurance for AssuranceWhat are some ways to use passive real estate investing to diversify your investment portfolio?Investment type – Wall Street & most wealth advisors tell us to allocate 60^ to stocks and 40% to bonds.  Not very diversified, and more stocks are more stocks, not diversification.  Investing in RE diversifies.Different asset classesDifferent locationsInvest in many opportunitiesWhy is the demand for apartment living growing?Changing demographics: millennials – burdened with student loan debt and/or seeking flexibility.  Boomers are downsizing and seeking maintenance-free lifestyles and proximity to amenitiesFlexibility and mobilityLifestyle preferencesAffordability & cost of homeownershipWhat are some quick tips but often overlooked Investing tips for creating a brighter future?Establish a financial plan based on where you are and on your goals.Start saving and investing todayBuild a diversified portfolio based on your tolerance for risk.Evaluate your portfolio regularlyIgnore the noiseWhat is the most important stamp of approval provided to a syndicator that provides reassurance to a passive investor?What are the 5 primary investor metrics that passive investors need to know and understand?Cash-on-cashAverage Annual ReturnIRREquity multiplierCap ratesConnect with Andrew Cushmani:www.vpavq.com andrew@vpacq.comhttps://www.linkedin.com/in/andrewcushmanvpa/

Andrew Cushman is a multifamily investor with over $200m in assets under management. In this episode, Andrew tells the story of his start in real estate and what he sees going into a turbulent market. You'll learn: - Why Andrew's first deal failed - Andrew's take on multifamily pricing - How to look at debt terms going forward Thanks to our sponsor Gobundance - the Tribe of Healthy, Wealthy Generous People who Choose to live Epic Lives! Apply today at https://www.gobundance.com Find out more about Andrew at his website https://www.vpacq.com

In this episode, Andrew Cushman, founder and principal of Vantage Point Acquisitions shares his journey from engineering to house flipping to becoming a successful multifamily syndicator. Learn about lessons from his best and worst deals, strategies for navigating changing economic conditions like rising interest rates, and tips for evaluating investment opportunities. Listen in and gain insights on building a long-term real estate career from someone who has seen market cycles come and go!About Andrew CushmanAndrew Cushman is the founder and principal of Vantage Point Acquisitions, a real estate private equity firm specializing in multifamily apartments, particularly in the southeast region. After leaving his corporate position in 2007, Andrew ventured into real estate investment, initially focusing on flipping single-family properties in Southern California. Over time, he transitioned to multifamily acquisitions and has since syndicated and repositioned over 2,600 multifamily units. A former chemical engineer, Andrew brings a unique perspective to the real estate industry. Here are some power takeaways from today's conversation:[03:11] Andrew's real estate investing journey[08:06] Practicing R&D in the real estate world[11:39] How he made the transition from engineering to flipping houses[13:39] The worst syndication he has done[20:56] Most common mistakes LP investors make[24:38] IRR vs. AAR[38:36] Fixed rate debt on the portfolioEpisode Highlights:[08:06] Practicing R&D in the Real Estate WorldIn the world of real estate, there's a beautiful concept called "rip off and duplicate," as Cameron Harold aptly puts it. In the corporate world, that's research and development; in real estate, it's rip-off and duplicate. Find somebody who's already successful at what you want to do, learn and copy what they do, and go execute.  This approach not only provides a blueprint for action but also instills the confidence to persist, knowing that proven methods are at hand. [13:39] Lessons Learned From Buying C-Class PropertiesC-class properties may appear promising on paper, but their true nature often falls short in the real world. Recognizing this, Andrew coined the phrase "the grass is always greener over the septic tank" to highlight the deceptive allure of these properties and the lack of competition surrounding them. During a recession, rough C-class properties suffer the most, experiencing severe delinquency and plummeting value. For Adam, this was the worst deal he and his wife had ever done. Although the returns were not impressive, his experience taught him invaluable lessons, now more knowledgeable about what to do and what not to do.[20:56] Common Mistakes LP Investors Make Shopping deals solely based on projected IRR without considering the different levels of risk involved to achieve those returns. Higher returns do not always mean a better investment if they come with greater risk. Not understanding the relationship between risk and return Failing to evaluate deals based on multiple metrics like IRR, annual cash-on-cash return, equity multiple, and annual average return rather than just one metric. No single number tells the whole story. Viewing the relationship with the sponsor/general partner as adversarial rather than as a partnership. Investors need to ensure their interests are aligned with the experienced sponsors they are entrusting their capital for the holding period. This show is for entertainment purposes only. Nothing said on the show should be considered financial advice. Before making any decisions, consult a professional. This show is copyrighted by Passive Investing from Left Field and Left Field Investors. Written permissions must be granted before syndication or rebroadcasting.Resources Mentioned:Vantage Point AcquisitionsPodcast Recommendations:Macro Voices Advertising Partners:TribevestAspen FundsViking CapitalRise48

Andrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007, Andrew left his corporate position to start a business in real estate investment, starting off flipping single family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,600 multifamily units. He is a frequent guest and panelist on Real Estate podcasts and educational forums. 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 to not be outwitted by his two young children. HIGHLIGHTS IN THE SHOW: 00:00 - Intro 01:26 - Andrew's Background 03:57 - Impact Equity Ad 04:25 - Leaving Your W2 07:16 - Investor Capital and Flipping 09:07 - Multifamily Funding 10:13 - The Multifamily Investor 12:16 - Flipping Business 14:00 - Building A Team 18:28 - Hindsight 19:49 - Class A, B, and C 23:03 - Exit Strategies 25:01 - Cashflow Investors 26:36 - Ideal Asset 27:45 - Vantage Point Acquisitions  30:34 - The Future Of Multifamily 33:53 - Good Debt 36:29 - Educational Resources 38:47 - Bucket List 40:11 - Where Would You Invest 100k 41:19 - Connect With Andrew CONNECT WITH OUR GUEST:https://www.vpacq.com/home https://www.linkedin.com/in/andrewcushmanvpa/ CONNECT WITH OUR HOST: Connect with our host, Randy Smith, for more educational content or to discuss investment opportunities in the real estate syndication space at www.impactequity.net, https://www.linkedin.com/in/randallsmith or on Instagram at @randysmithinvestor ---------------------------------------------------------------------------------------------------------------------------- Follow us on social media @the.gentle.art.of.crushing.it Listen, like, subscribe, comment: http://thegentleartofcrushingit.com/

2023's insurance market is bad. Really bad. “As bad as I've ever seen,” says Insurance Office of America's Robert J. Hamilton. He's never seen home and multifamily insurance prices as high as today. But, he has good reason to believe that a better insurance market could be upon us soon, especially as prices continue to ramp up and providers get priced out of the market.  If you're a property owner, there's a good chance your insurance premium increased significantly in price last year and the year before. After several unprecedented natural disasters, states like Texas, Florida, and California have seen carriers massively raise rates or leave their markets entirely. But why now? And how long will this last? Robert walks us through exactly what's caused the higher insurance rates, why so many carriers have given up or died out, and “the beginning of a reset” that could be on the horizon. Andrew Cushman, long-time friend of the show and multifamily investor, gives his seven quick tips on finding a better rate and protecting your property if and when disaster strikes. DO NOT analyze another deal before you watch this episode because, by the time you finish, your new insurance rate could ruin the profit potential.  In This Episode We Cover: The wild 2023 insurance crisis explained and why rates have gone up so dramatically The “capacity crunch” forcing insurance carriers to leave risky markets  What's causing rates to rise and the “reinsurance” problem carriers face  Underwriting your next rental/multifamily and how to properly predict property insurance costs  The safest states/areas to invest in that carriers are flocking to  The “percentage deductible” trap that could bankrupt your deal if you aren't careful  And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Davids's BiggerPockets Profile David's Instagram Network with Other Investors on the BiggerPockets Forums How to Protect Your Rental from Fires, Floods, Lawsuits, and Liability What Is Rental Property Insurance & Do Landlords Need It? Book Mentioned in the Show: SCALE by David Greene Connect with Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Andrew's Website Connect with Robert: Robert's Email Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-819 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

When it comes to investing, nothing pays off more than patience and discipline. As sellers insist on prices that no longer make sense in this current interest rate environment, it's gotten increasingly difficult to find deals that pencil out. Even before the interest rate surge, prices were at unprecedented levels because of the incredible amount of competition that were chasing deals. Andrew Cushman, Founder and Principal of Vantage Point Acquisitions, operators of multifamily assets in the Southeast, has adhered to strict acquisition guidelines and therefore has continued to prosper with his portfolio when many others are struggling.

Join us in this amazing podcast conversation with Andrew Cushman, Manager and Owner at Vantage Point Acquisitions, LLC as we explore the current state of the real estate market. Andrew discusses the potential long-term structural shift in the office market and the changing dynamics of the multi-family sector. He highlights the increased demand for affordable housing and the challenges faced, including rising insurance costs and aggressive tax policies. Andrew shares insights on pricing trends, transaction volumes, and the different scenarios faced by owners and operators in the market. Join us as we delve into the opportunities and risks in the ever-evolving real estate landscape.Visit us here at: https://www.thelimitedpartner.com/ If you'd like to say hello, you can find Jake at @JJakeWiley on Instagram and Twitter, and on LinkedIn. You will hear quite a bit of real estate terminology in every episode. We've aggregated the most common questions for you in the link below! https://bit.ly/learn-the-lingo

At this year's Best Ever Conference in March, Matt Faircloth and Andrew Cushman sat down with Joe Fairless to discuss his path from real estate newbie to $2.7B AUM. In Part II of this two-part conversation, Joe shares tips on raising capital in an investor-hesitant market, the benefits to vertical integration as you scale, and his thoughts on what the commercial real estate market holds in 2023.   Click here to learn more about our sponsors: MFINCON BAM CAPITAL DEAL MAKER LIVE

Today, we sit with someone who has made it big in the multifamily industry, Andrew Cushman. We pick his brain on how to successfully invest in real estate even in the midst of rising interest rates and a lot of uncertainties in the market. Learn how to vet a sponsor, get genuine referrals, and know when to do a deal. You'll get tons of value and investing strategies in this episode so be sure to tune in!Key Points from This Episode:Andrew's background as a chemical engineer.Andrew's transition from leaving his job into full-time house flipping.Andrew's transition from house flipping into apartment units.Andrew explains what a real estate syndication, limited partner, and general partner are.How to vet a sponsor and get a genuine referral.The value of detailed, complete and transparent communication with investors.A good strategy for syndicators to know when to do a deal.Andrew explains the big difference in the multifamily space from when the financial crisis hit in 2008 to the recession and financial crisis happening now.What opportunities does Andrew see in the multifamily market in the midst of rising interest rates?Andrew's advice for people who are unsure if it's a good time to invest because of the uncertainties in the market.Andrew shares the lessons he learned from past mistakes as an investor.Tweetables:“You are investing more in that sponsor than you are in any particular deal.” [00:10:04]“You cannot time the market, you have to buy the right assets in the right place and structure them properly. And then make sure that you have plenty of flexibility on the exit.”  [00:22:13]“It's not, ‘Don't invest,' it's ‘Change the strategy' to fit the market that we're in so that you can still make successful investments.”  [00:33:02]Links Mentioned:Andrew Cushman on LinkedInVantage Point Acquisitions (VPACQ) websiteThe Hands-Off Investor by Brian BurkeMacro Voices PodcastDerivative Logic websiteGlobe Street BisnowAbout Andrew CushmanAndrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007, Andrew left his corporate position to start a business in real estate investment, starting off flipping single-family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,600 multifamily units. He is a frequent guest and panelist on Real Estate podcasts and educational forums. 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 to not be outwitted by his two young children.Connect with us!Claude Condo on LinkedInThe main sponsor of our podcast is Rx Real Estate Investment. They make everything we do possible, and our conversations and interviews would not be available without their support. If you want to diversify your retirement portfolio and get into commercial real estate investing, working with Rx Real Estate Investment may be a great match for you. Check out the website at www.rxrei.com. Connect with us!Jeff StarkClaude CondoNewsletter

The way you manage your multifamily real estate could be the defining factor when growing a bigger portfolio, reaching financial freedom, and leaving a lasting legacy. The “DIY management” style works for most real estate investors until they build a significant stack of multifamily properties. Then, the toilet calls, tenant complaints, and late rent checks get a little exhausting when you're now taking care of dozens of tenants, not just two or three. So, what's the right way to scale with multifamily real estate without losing your hair? We've brought back multifamily investing experts Andrew Cushman and Matt Faircloth to explain how new multifamily investors can start to scale by making some strategic hires. Both of these battle-tested investing experts have dealt with their fair share of flaky property managers, late maintenance technicians, and asset managers who care more about a paycheck than building a profitable portfolio. They know exactly what does (and doesn't) make a good hire and how you can start scaling quicker by outsourcing work you once thought crucial for an owner to do. Andrew and Matt break down the difference between a property manager and an asset manager and explain why these roles are commonly confused. They also hit on how essential operations are at a time when cap rates are starting to expand and many buyers have fled the market. Finally, they'll walk through the exact skills you should be looking for in an asset manager, property manager, leasing agent, and maintenance supervisor, so you can focus on growing your portfolio, NOT handling the day-to-day hiccups.  In This Episode We Cover: Asset management vs. property management and how these two separate roles create investing synergy  The changing multifamily market and how “buying a deal” isn't as easy as it was before What small multifamily investors can do NOW to build the road to a bigger portfolio  Hiring a property manager and the twenty-seven questions you MUST ask them before you bring them into your team  Attitude over skills and how to find the rockstars that want to build your real estate portfolio Incentivizing success and making sure your workers are paid for increasing value and cash flow  And So Much More! Links from the Show Find an Investor-Friendly Real Estate Agent BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch BPCON2023 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David's YouTube Channel Work with David What Is a Real Estate Investment Asset Manager? Get your free copy of the 27 Questions You should ask a Property Manager Book Mentioned in the Show: Raising Private Capital by Matt Faircloth Connect with Matt and Andrew: Andrew's BiggerPockets Profile Andrew's LinkedIn Vantage Point Acquisitions Matt's BiggerPockets Profile Matt's Instagram DeRosa Group Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-739 Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices

A commercial real estate crash is looking more and more likely in 2023. Rising interest rates, compressed cap rates, and new inventory about to hit the market is making commercial real estate, and multifamily more specifically, look as unattractive as ever to a real estate investor. But with so much money still thrown at multifamily investments, are everyday investors going to get caught up in all the hysteria? Or is this merely an overhyped crash that won't come to fruition for years to come?Scott Trench, CEO of BiggerPockets and host of the BiggerPockets Money Podcast, has had suspicions about the multifamily space since mortgage rates began to spike. Now, he's on the show to explain why a crash could happen, who it will affect, and what investors can do to prepare themselves. This is NOT a time to take on the high-stakes deals that were so prominent in 2020 and 2021. Scott gives his recommendations on what both passive and active investors can do to keep their wealth if and when a crash finally hits.But that's not all! We wouldn't be talking about multifamily without Andrew Cushman and Matt Faircloth, two large multifamily investors who have decades of experience in the space. Andrew and Matt take questions from two BiggerPockets mentees, Philip and Danny, a couple of California-based investors trying to scale their multifamily portfolios. If you want to get into multifamily the right way or dodge a lousy deal, stick around!In This Episode We Cover:The commercial real estate crash and bad news for high-interest rate investorsCap rate compression, rent stagnation, and red flags for the multifamily market Recommendations for both active and passive multifamily investorsHow to vet a real estate syndication deal when raising private capitalScaling from small to large multifamily and why the jump is easier than you thinkCash flow vs. appreciation and which is a better bet if valuations start to tankBalloon payments, adjustable-rate mortgages, and risky financing options putting new investors in a tough spotAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchListen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramDavid's YouTube ChannelUnderstanding Rental Property Depreciation—A Real Estate Investor's GuideHouse Hacking 101—What It Is and How to Get StartedYour Debt-to-Income Ratio Can Make or Break Your Investing CareerOn The Market Podcast 65 with Ben MillerOn The Market Podcast 71 with Brian BurkeBiggerPockets Real Estate Podcast 708BiggerPockets Real Estate Podcast 719Book Mentioned in the ShowThe Hands-Off Investor by Brian BurkeConnect with Andrew, Matt, Dave, and Scott:Andrew's BiggerPockets ProfileDave's BiggerPockets ProfileMatt's BiggerPockets ProfileScott's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-721Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Multifamily real estate investing was almost impossible to break into over the past few years. Even those that had been in the field for decades were finding it challenging to get offers accepted or deals underwritten. Investors were throwing in almost unbelievable amounts of non-refundable earnest money, going well over asking price and analyzing deals at lightning speed, which often led to mistakes, not more money. But the tables have turned, and now, thanks to high interest rates, the buyer is in the driving seat.And how could it be a multifamily episode without Andrew Cushman and Matt Faircloth? These two expert multifamily investors have been buying apartments for decades and helping others do the same! In this episode, Andrew and Matt break down what has gone on in the multifamily markets, why cap rates haven't kept pace with interest rates, and what buyers can do now that sellers have lost most of their bargaining power. You'll also get to hear their multifamily predictions for 2023, how far they expect prices to fall, and what you can do to start or scale your multifamily investing this year!Then, Andrew and Matt take questions from the BiggerPockets forums and live Q&As with new multifamily investors. These topics range from property classes explained to raising private capital from investors (who aren't your mom) and the risks and rewards of investing in smaller markets. Whether you're interested in duplexes, triplexes, or two-hundred-unit apartment complexes, Andrew and Matt have answers for you!In This Episode We Cover:The mortgage and cap rate battle and how the two are unbalanced in 2023The multifamily buyer's market and why now is the time to aggressively chase deals2023 housing market predictions and what multifamily investors can expect How to start, or scale, your multifamily real estate portfolio this year Long-distance real estate investing and assessing a property market from afarHow to raise money from private investors and expanding your networkThe hidden dangers behind investing in a small, tertiary marketsAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchListen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaAndrew's BiggerPockets ProfileAndrew's LinkedInVantage Point AcquisitionsMatt's BiggerPockets ProfileMatt's InstagramDeRosa GroupPaul Moore's Article on Interest Rates and Cap RatesBooks Mentioned in the Show:Long-Distance Real Estate Investing by David GreeneRaising Private Capital by Matt FairclothThe Intention Journal by Brandon TurnerConnect with Philip & Daniel:Philip's BiggerPockets ProfilePhilip's InstagramPhilip's WebsiteDaniel's BiggerPockets ProfileDaniel's TwitterClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-711Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

There's a dark side of real estate no one talks about. Crime, destruction, theft, violence—you name it, we've dealt with it. With the spookiest day of the year coming close, we're going to tell you all our terrible real estate tales. Everyone on podcasts and YouTube wants to show you how easy it is to invest, how it's an assured path to wealth, and rarely what type of mistakes you can make. But we're flipping the script, bringing in some of the best and brightest in real estate to show that the grass is usually greener where the septic tank is.Today's guests, who have all collectively succeeded at failing, are Andrew Cushman, Jamil Damji, and Matt Faircloth. If you've been a BiggerPockets listener, these names may sound familiar to you, but if you're brand new, let us introduce you to these industry giants. Andrew is a multifamily expert and one of the smartest names in the game on screening and underwriting (analyzing) properties. Jamil built the nation's largest wholesaling operation and is an expert guest on On the Market. And Matt, CEO of the DeRosa Group, literally wrote the book on Raising Private Capital.But these titans of industry only made mistakes at the beginning of their careers, right? Not quite. They share today a selection of stories that will make you realize that the only successful investors are the ones who can both literally and figuratively weather a strong storm. And if you think it's all cash flow and cruises for these investors, you couldn't be more wrong. In This Episode We Cover:Why you should ALWAYS check out a property before you buy (and what happens if you don't)Becoming the "Sheriff" of your investment and how contractors can easily take you for a ride1031 exchange mistakes and how to negotiate with a seller even when you're on a time crunchAlways staying in your lane and trusting your gut when a deal doesn't feel rightPaying more for insurance and how to financially prepare for a natural disaster Why even with all the pain, real estate investing is the best wealth vehicle in the game!And So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastBiggerPockets MerchListen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramBiggerPockets Podcast 661Vantage Point AcquisitionsThe DeRosa GroupJamil's YouTubeBooks Mentioned in the Show:Raising Private Capital by Matt FairclothConnect with Matt, Andrew, & Jamil:Andrew's BiggerPockets ProfileJamil's BiggerPockets ProfileMatt's BiggerPockets ProfileJamil's InstagramMatt's Instagram Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-681Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

It is such an honor to welcome my guest, Andrew Cushman, to the podcast! For over a decade, Andrew has been growing real estate investment businesses full-time. Starting off with single-family properties in 2007, Andrew completed 27 single-family flips. In 2011, he transitioned to the acquisition and repositioning of multifamily properties and now acquires B-class, value-add properties throughout Texas and the Southeast United States. In total, Andrew and his team have acquired and repositioned over 2,000 multifamily units to date and, of course, each one of those units requires property management. In this episode, you will hear Andrew's experience of managing the property manager, and the techniques he uses to keep his property management team motivated and connected. Andrew also reveals his opinion on the positive and negatives of in-house property management. Join me and tune in today! Connect with Andrew at: Website: https://www.vpacq.com/ Facebook: https://www.facebook.com/andrew.cushman.5 Linkedin: https://www.linkedin.com/in/andrewcushmanvpa/ Andrew's Book Recommendation: Long Distance Real Estate Investing by: David Green, The Hands Off Investor by: Brian Burke Andrew's Prayer Request: Safety while traveling. Wisdom in this uncertain market. Connect with Lee: Website: THREEFOLD - Real Estate Investing (threefoldrei.com), Email: info@threefoldrei.com, Facebook: Threefold Real Estate Investing | Facebook, LinkedIn: Lee Yoder | LinkedIn, NEW!!! YouTube Channel: https://www.youtube.com/channel/UCGM93x6ZEDa4n9yH7UP97iA Check out our Free E-book! https://threefoldrei.ac-page.com/5-steps-to-passive-income-for-the-full-time-dad

The multifamily real estate market seemed almost impenetrable over the past two years. Unless you had millions in dry powder, ready to overpay for a huge apartment complex, there was a low chance you'd be making any money in the multifamily industry. This gave the big buyers an unfair advantage, while smaller investors struggled to put almost anything under contract. The tables have started to turn as interest rates rise, repricing becomes the norm, and multifamily buyers start fleeing the closing table.It's now your time to shine, small-scale investors. As large buyers begin to fear a housing market crash, you can swoop up the spoils that could benefit you for years to come. But, before you do so, you'll need to understand how exactly multifamily investing works. Back again on the show are Andrew Cushman and Matt Faircloth, two multifamily masters in their own rights.They've become real estate veterans after over a decade worth of investing experience. Now, they're here to share some beginner steps and tips on how you can get into the world of multifamily real estate, regardless of your experience, knowledge, or bank account size. These steps are simplistic at a high level, but doing them correctly could help you beat out the competition for years to come. The only question is, are you ready to start?In This Episode We Cover:Why today's “fearful” multifamily market is a great opportunity for new investors Evaluating your goals, skillset, and advantages before you step into the multifamily marketThe biggest mistakes new investors make when choosing a real estate marketHow to get deals sent directly to you and build up a network of top-tier brokersBuilding your real estate dream team that'll allow you to scale with far less headacheRaising private capital and using other people's money to grow your real estate empire And So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsGet More Deals Done with The BiggerPockets Investing ToolsFind a BiggerPockets Real Estate Meetup in Your AreaDavid's BiggerPockets ProfileDavid's InstagramBiggerPockets Podcast 571BiggerPockets Podcast 586BiggerPockets Podcast 634BiggerPockets Podcast 279Harvard Joint Center for Housing StudiesCrexiLoopnetBerkadiaCushman and WakefieldCBREMarcus and MilichapColliersBooks Mentioned in the Show:Long-Distance Real Estate Investing by David GreeneRaising Private Capital by Matt FairclothConnect with Matt & Andrew:Andrew's BiggerPockets ProfileMatt's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-661Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Andrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007 Andrew left his corporate position to start a business in real estate, starting off flipping single-family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,300 multifamily units. He is a frequent guest and panelist on real estate podcasts and educational forums, and recently launched The Multifamily Accelerator: a multifamily mastermind group for active and experienced Real Estate investors.  We talked to Andrew about how his multifamily investing journey started, what to look for when starting out, how to approach investing in an older property, what to look for in a market, and the types of deals to avoid!   Announcement: Download Our Sample Deal and Join Our Mailing List   [00:01 – 05:53] Opening Segment  Andrew talks about his background. He talks about how he got into real estate investing; [05:53 – 21:26] Big Lessons Learned from a First Deal Transitioning from single-family flipping to multifamily investing; He talks about his first multifamily deal; How hiring a mentor is a must; What to look for when starting out;  How to approach when you are investing in an older property; The best way to find the right property manager [21:26 – 37:14] When to Start What markets to invest in; What to do when you can't buy a deal; The importance of staying true to your process; The importance of relations with brokers; The types of deals to avoid  [37:14 – 44:10] Round of Insights Apparent Failure: His first multifamily deal   Digital Resource: ESRI   Most Recommended Book: Long Distance Real Estate Investing   Daily Habit: Making the plan for the next day   #1 Insight for Multifamily Investing Multifamily is easier than you think it is, but not at the beginning.   Best Place to Grab a Bite in Southern California:  The Cheesecake Factory   Contact Andrew: To learn more go to www.vpacq.com.   Tweetable Quotes: “Risk comes down to lack of knowledge or control.” - Andrew Cushman  “Multifamily gets better the bigger you get” - Andrew Cushman   Thank you for joining us for another great episode! If you're enjoying the show, please LEAVE A RATING OR REVIEW,  and be sure to hit that subscribe button so you do not miss an episode.  

How can we adapt to the present market situation and structure deals to mitigate investment risks? Andrew Cushman shares the factors contributing to his multifamily success, qualities that make this investment stand out from the rest of the asset classes, and tips on adequately evaluating markets. Listen to learn about seizing opportunities in a market crisis and maintaining a deal flow!   Key Takeaways from this episode Why you shouldn't underestimate raising capital and property renovation The scalability and advantages of Class A and B areas/markets What makes multifamily a better investment than single-family or fix and flips? Ideal team and business culture for real estate investing Insights about the opportunities in multifamily in the current market condition The impact of reliability and integrity in building relationships References/Links Mentioned BiggerPockets Real Estate Podcast   About Andrew Cushman Andrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007 Andrew left his corporate position to start a business in real estate investment, starting off flipping single-family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,300 multifamily units. He is a frequent guest and panelist on Real Estate podcasts and educational forums, and recently launched The Multifamily Accelerator: a multifamily mastermind group for active and experienced Real Estate investors. 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 to not be outwitted by his two young children.   Connect with Andrew  Website: Vantage Point Acquisitions YouTube: Vantage Point Acquisitions Facebook: Vantage Point Acquisitions Instagram: @vantagepointacquisitions LinkedIn: Andrew Cushman   Neil J. Timmins is on a mission to make a deep personal impact in the lives of his team members and business partners through his work as a real estate investor and mentor. He started as a traditional real estate agent where his team was recognized by the Wall Street Journal as a Top 100 team. Eventually, he made the transition from Realtor to full time investor.  Over the course of his career, Neil has been involved in over $300,000,000 in real estate transactions. Neil's portfolio depth includes assets ranging from houses to industrial properties. Recently, Neil and his team launched the Legacy Impact Partner Program where they partner with fix and flip investors from around the country. Neil's team brings capital to fund and fix rehabs, operational expertise, and years of experience catapulting their partner's business to new heights. Want to partner? You can learn more and book a call with Neil at www.LegacyImpactPartners.com. Connect with Neil Website: Real Grit LinkedIn: Neil J. Timmins Facebook: Neil Timmins

Investing in apartment buildings may seem like a big jump to everyday real estate investors. Mom and pop landlords—used to buying single-family houses or duplexes—may see apartment buildings as far outside their reach. And this, for the most part, has been true over the past two years. With high competition, equally high prices, and syndication deals popping off every other second, regular investors haven't been able to invest in large multifamily real estate—until now.Andrew Cushman and Matt Faircloth started as solo-investors like most of us. But, over the past decade, they've both grown large multifamily portfolios, and know exactly how hard it's been over the past two years. They're finally starting to see some cracks in the institutional armor of multifamily, allowing small-time investors to get deals while everyone else is fleeing from high interest rates and an oncoming economic downturn.If you've been waiting to level up your investment portfolio, make big equity gains, and bring in massive passive income, then this is the episode for you. And, if you feel like you're too new to invest, the BiggerPockets Multifamily Bootcamp, hosted by Matt Faircloth, will give you everything you need to go from onlooker to investor!In This Episode We Cover:Multifamily “tailwinds” that are making apartment investing easier in 2022 and 2023The hidden opportunity of multifamily that most investors don't pay attention toHow creativity became crucial in the real estate industry and using it to score better dealsWhich multifamily properties are safe from an economic downturn and inflation The seven ways that you can mitigate multifamily risk when investingHow to start building your multifamily strategy today so deals flow to you as competition thinsAnd So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastGet Your Ticket for BPCon 2022Listen to All Your Favorite BiggerPockets Podcasts in One PlaceLearn About Real Estate, The Housing Market, and Money Management with The BiggerPockets PodcastsDavid's BiggerPockets ProfileDavid's InstagramSign Up For the BiggerPockets Multifamily BootcampBiggerPockets Podcast 88BiggerPockets Podcast 203BiggerPockets Podcast 289BiggerPockets Podcast 170BiggerPockets Podcast 279BiggerPockets Podcast 586Vantage Point AcquisitionsDeRosa GroupInvest with David GreeneBooks Mentioned in the ShowRaising Private Capital by Matt FairclothConnect with Matt and Andrew:Andrew's BiggerPockets ProfileMatt's BiggerPockets ProfileClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-634Interested in learning more about today's sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page!See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ep. 573  Building Lasting Wealth with Multifamily Real Estate   Andrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. He started out flipping single family properties in Southern California. In 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,500 multifamily units.   Highlights:   [00:00 - 06:58] Find the deal, the money will come there is truth to that, but there's caveats Andrew Cushman,  decides to quit being a chemical engineer in 2007 and has since flipped houses full time in Southern California. Andrew and his wife decided to go into the apartment market and found the guy who had already done 18,800 units. They syndicated their first deal in 2011 and have since done around 26,700 units. One of the things they learned in their first process was that you need to have both capabilities - finding deals and raising money - simultaneously.   [06:58 - 13:55] How to Scale Your Business When the Deals Are Harder to Find Andrew notes that the current market is much more competitive than in the past, with prices for properties increasing significantly. It is now necessary to have a good relationship with a broker in order to find and buy properties. There are many things that can be done to make brokers think of you first when looking for a property, such as being reliable and truthful, being consistent and predictable, and having a clear understanding of what you are looking for.   [13:55 - 20:59] How to Put Yourself in a position where your broker thinks of you first Being top of mind. Not only because building an actual real relationship, but by knowing exactly what you want the brokers would exactly know what you want They think of you first when that thing shows up and that applies whether you're looking for any Real Estate Assets.  [21:00- 22:27] Closing Segment Reach out to Andrew  Links Below Final Words Tweetable Quotes   “It's about being top of mind. Not only because you've built an actual real relationship, but by knowing exactly what you want so that they know exactly what you want.” - Andrew Cushman ----------------------------------------------------------------------------- Connect with Andrew Cushman by visiting their website at: https://www.vpacq.com/ Connect with me:   Facebook   LinkedIn   Like, subscribe, and leave us a review on Apple Podcasts, Spotify, Google Podcasts, or whatever platform you listen on.  Thank you for tuning in!   Email me → sam@brickeninvestmentgroup.com Want to read the full show notes of the episode? Check it out below: [00:00:00] Andrew Cushman: Find the deal, the money will come there is truth to that, but there's caveats, right. The assumption there is that you've built an investor pool, or if you haven't. The assumption is, well, you're gonna take it to somebody who has, and now you're going to be giving away either control or equity or something like that. Andrew Kushman has syndicated over 2,600 value out apartment units in the last 10 years. Andrew, welcome to the show. Hi, good to be here, Sam. Hey, the pleasure's mine. Thanks for coming on today. There's three questions. I ask every guest who comes in the show in 90 seconds or less. Can you tell me, where did you start? [00:00:47] Sam Wilson: Where are you now? And how did you get there? Is that 90 seconds  [00:00:50] Andrew Cushman: for each or 90 seconds? Total, total. Ooh, geez. All right. well, I started back in 1977. My dad had a twinkle in his eye and, fast forward a little bit. I was a chemical engineer. Quit doing that in 2007 to flip houses, full time in Southern California. [00:01:05] Andrew Cushman: That was great, but it was the equivalent of another full-time job. Right. And so we want my wife and I, my wife's a business partner. We wanted to move into something that was more scalable and also provided more recurring income and had the higher probability of building lasting wealth. And so in 2010 we said, Hey, everyone just got foreclosed on. [00:01:26] Andrew Cushman: And they, so that means that no one can either can buy a house or wants to buy a house. Cuz they're all scared of it. We had a huge recession, which means we're going to be having probably a long expansion so that rentals should probably do well. So we went and found the guy who'd already done. [00:01:39] Andrew Cushman: 18, 800 units hired him as a mentor. Did our first syndication in 2011, it was 92 units on the other side of the country in Macon, Georgia. And. since then, I've been doing it full time and we're somewhere around 26, 2700 units. So  [00:01:53] Sam Wilson: that is that's really, really cool. I love just you found something you liked and you stuck with it. [00:01:58] Sam Wilson: Was there ever any temptation along the way to look at other asset classes?  [00:02:02] Andrew Cushman: No, not really. I'm a big believer and there's different theories on this when you're building businesses about having like, multiple businesses and diversification. And for us, we found the best thing is try to be really good at one thing. [00:02:15] Andrew Cushman: And that's what we're striving to do. I know guys that do multi-family and industrial and self storage and bunch of other things, and those are great investments and they've done really well. There's nothing wrong with 'em at all. Right. I. Feel like we know and understand multi-family and I feel like we're getting pretty good at it. [00:02:31] Andrew Cushman: And we wanna just get that much better. So stay focused,  [00:02:34] Sam Wilson: right? No, I think that's really great. I guess, uh, talk to us about this process. You said, Hey, we're gonna go buy our first 92 units in 2011 syndication. Really? We're probably wasn't even a buzz word like it is today. [00:02:48] Sam Wilson: How did you guys take those down?  [00:02:50] Andrew Cushman: That was a struggle. That first deal is a. Big part of why my hair is as gray as it is. and you're right. Syndication. Wasn't a buzzword. There was no one, Dave Al was like the one guy out there teaching people about apartments and that was it. [00:03:03] Andrew Cushman: There was no one else. There was no billboards in Dallas about how to become an apartment syndicator and So, we had, like, I, like I mentioned, we had started flipping houses in Southern California. And so we had some private investors that, if we bought a $400,000 condo I'd go to invest and be like, Hey, give us the money for this. [00:03:21] Andrew Cushman: We'll give you an interest rate and then we'd flip it and do all that. Right. And so we went into the, apart into the apartment world so that first one we bought 92 units for 1.2 million out in Macon, Georgia. And for anyone who's looked at a deal today, you're saying, well, wait, hold on, Andrew. No. You said something wrong. You said 1.2 million for 92 units. No, that was the price. [00:03:41] Andrew Cushman: I think as, again, works out to roughly 7,500 a unit that's. That's what the market was like in 2011, right? It's either really easy to get money and really hard to get deals, which is kind of today, or it's really easy to get deals and hard to get the funding. that's what it was in 2011, the market was at a bottom lots of distress and everyone was scared to death of real estate and no one wanted to touch it. [00:04:07] Andrew Cushman: And there was no liquidity and you couldn't get loans on a lot of this stuff. So the pricing reflected that so 1.2 million, and that included the rehab, the actual purchase price was 6 99. And the total that we needed is 1.2. And we had our mentor uh, we were a bit naive in terms of how easy it would be to raise $1.2 million. [00:04:25] Andrew Cushman: Back then it took us six months just, one investor at a time, 10,000 here, 50,000 there. And actually at the end part of how. Got there is we got the seller to carry a $200,000 note. So that we could at least get to closing and get it finished. And then we actually raised the last few pieces over the next few months after closing. [00:04:46] Andrew Cushman: So it was, a brutal process that first one. But wouldn't be here if we hadn't done it so glad we did. What  [00:04:52] Sam Wilson: were some things you feel like you learned in that first process that you could help other people either, emulate or avoid.  [00:05:00] Andrew Cushman: one of the big questions that you hear is, oh, well, do I get the deal first? [00:05:03] Andrew Cushman: Or do I get the money first? It's both work on your deal, finding capabilities and your money raising capabilities simultaneously. Don't wait until you have a deal. To then start talking to your investors, to potential investors. Then also don't go and get a big pool of investors, all excited about investing with you. [00:05:24] Andrew Cushman: If you don't have anything to ever show them. Right. So it's a simultaneous thing. And if you're like, well, but I haven't done a deal, so what do I talk to investors? Then? What you do is you look at deals, you analyze 'em, you put 'em together, you put together like a little package. [00:05:37] Andrew Cushman: And then when you're talking to people, say, yeah, these are the kind of deals I'm looking. Right. And you're not gonna, you're not gonna mislead people and say, oh, I'm buying this deal or anything like that. You're gonna say, you know what? I offered on this one. We didn't get it. But if we had, oh, it would've been a great deal. [00:05:52] Andrew Cushman: And I'm looking at lots more like it. Right. So be transparent and honest about it, but that's what you do while you're looking at deals. Then when you have one. Hey Sam, good news. Remember that deal that we looked at a month ago. I showed you that I didn't get, that was really good. [00:06:05] Andrew Cushman: I got another one just like it. And this time they accepted my offer. Right. So you build both at the same time. Right? Right.  [00:06:12] Sam Wilson: Yeah. I think that's that's really valuable cuz that is, I mean you hear the find the deal, the money will come, which is nonsense. But I also like the idea that you said that you have to build, you have to find the deals as well, because it is, I've been in that season before where you've got loads of investors lined up and you've got nothing to give 'em and it's like, oh, well, hold tight while we go find something else, it's gonna take, if it's 90 days before I bring a deal to you, a lot of those people have already moved. [00:06:36] Andrew Cushman: Yeah. And, what you mentioned a minute ago, you hear that a lot. Find the deal, the money will come there is truth to that, but there's caveats, right. The assumption there is that you've built an investor pool, or if you haven't. The assumption is, well, you're gonna take it to somebody who has, and now you're going to be giving away either control or equity or something like that. [00:06:58] Andrew Cushman: Right. So yeah, you're, right. It's not just to find the deal. It's not like, field of dreams, right. Where everyone just shows up and everything's happy and fun. There's costs and caveats to that. So, these days the deal is the tougher part of it but. You want to scale both at the same time, either on your own or by partnering with the right person. [00:07:15] Sam Wilson: Absolutely things have changed. You're no longer buying 90, what'd you say? 92 units or 96 units for 6,000 bucks a door  [00:07:24] Andrew Cushman: yeah. long gone. Well, we will not see that again.  [00:07:28] Sam Wilson: I don't think so. I don't think so. I think one we've rented too much money to see that. And I just think it's things are very different right now. [00:07:34] Sam Wilson: It's a very competitive market and you guys are paying a lot more, probably adding a zero plus to a lot of what you're buying. If not, gosh, the zero times one and a half, probably how are you guys finding deals in a competitive market? So  [00:07:46] Andrew Cushman: , it's kind of gotten a little better now, but for the last couple of years, we're averaging having to look at anywhere from one to 200 deals just to buy one And when I say, look at that means, at least put 'em through a screening process and, check things like median income and population growth and all of that. [00:08:02] Andrew Cushman: All of our deals, I don't, everything we've bought. And at least the last six years has been off market through a broker, meaning. It's a broker that we have a relationship with, and that knows what kind of markets and what kind of properties that we like to buy in. And that knows that if they connect us with the seller or owner, that they've built a relationship with that, we're not gonna make them look bad. [00:08:29] Andrew Cushman: But in reality, we're gonna have a high probability of being able to put a deal together. And then if we do actually get it closed. So it's just been nurturing those relationships, now over 11 years. But you know, candidly, we've done, we've bought three off market deals from one broker. [00:08:46] Andrew Cushman: In the last 12 months that I've just met for the first time, like 18 months ago. Right. So please, I just want, then the reason I say that is I don't want everyone to hear, oh my gosh, I gotta build relationships for 10 years before I get a deal. That's that's not true. It definitely, it benefits you over time as you persist with it. [00:09:02] Andrew Cushman: But we're finding. The best deals, cuz the broker , , I get direct calls all the time from people everyone's trying. Everyone tries to circumvent the brokers thinking they're gonna get a better deal. You might get one or two. But the brokers, they spend their lives. Like all they do is. [00:09:19] Andrew Cushman: Hunt down these owners and build relationships with them. And they, good, the good ones know every property. They know the state of every seller, what their intentions are. And the most effective way to to do a large number of deals is to leverage the relationships that they've built. [00:09:36] Andrew Cushman: Right. Right. One good broker knows every property in your city and can save you and them a whole lot of time. Now. That applies, I'd say, especially for 50 units on up when you start getting to smaller stuff I'd say between 10 and 50 units, that's where if you want to go direct to seller, it's a, I'd say it's a little bit more fragmented and a little bit more mom and pop, and there's probably some more opportunity for deals in that smaller space. [00:10:04] Andrew Cushman: But as you move up good brokers and good broker relationships really is the way to, to scale again, not saying you can't grab a great dealer to the other way, but for any kind of real volume you want those relationships.  [00:10:17] Sam Wilson: Yeah. And it's certainly, like you said they devote their lives to this. [00:10:21] Sam Wilson: And this is really, I mean, the brokers control the market especially when you get into the bigger assets. So that's, you might as well just go straight to the store, save yourself some time. I mean, it takes an incredible amount of time to build the database. For an entire city, let alone, all the outreach, the cold calling, the whatever your method is to get that far. [00:10:38] Sam Wilson: So you might as well just go straight to the source and go to the brokers on those deals and nurture those relationships. Are there things other than being known as someone that can get a deal done and get it closed that you guys do to make sure that brokers think of you first?  [00:10:52] Andrew Cushman: There's a couple things. One is, there's the I'm, I'm sure everyone's heard this before, but basically, you know how you do the little things is how you do everything, right? [00:11:02] Andrew Cushman: So be consistent and reliable and truthful in all of the little things. Right? So if you say, if you tell a broker they send you a property. and regardless of whether it's good or you like it or whatever, and you say, oh cool. they send you a property on Monday. You say, Hey, I'll get back to you on Wednesday. [00:11:20] Andrew Cushman: Get back to 'em on Wednesday. Right. And maybe, life happened and you haven't had a chance to look at the property on Wednesday, send him an email, say, oh, Hey, thanks for sending this. I really sorry. I wasn't able to get to it. Like I thought I would, I'm gonna look at it tonight. I'll be in touch tomorrow. [00:11:34] Andrew Cushman: Right. It's just feedback. another example is when you look at a property and this is me, most of them, and it doesn't work. Don't just delete it and leave the, leave. The guy hanging and I've heard I've had brokers tell us this over and over again. [00:11:46] Andrew Cushman: They appreciate being told. No, because their job is to find buyers. And if you have all these buyers that have just not answered. That means it's a task for them to follow up with you. And now you're becoming a pain in the butt. Whereas if you just reply, say, Hey, you know what, Sam, thanks for sending me this property. [00:12:03] Andrew Cushman: Looks like a good asset, but it does not quite a fit for us because it's a little too old or we don't like the submarket. But again, thanks for the chance to look at it and looking forward to the next one or something like that. Tell 'em no. So they can take you off the list and they're not looking for you to say yes to everything. [00:12:17] Andrew Cushman: They're just looking, are you interested or not? So they can do their service to the owner or the seller. So just little bits of follow up go a long way. And then the other, another thing. And that you can do again without having to have, huge track record or anything like that is in a sense. [00:12:35] Andrew Cushman: Train them to know exactly what you're looking for. Right. And the assumption there is that, you know exactly what you're looking for. Right. Right. So, for us, it's we want, ideally properties built between 1990 and 2010, that are 200 units in secondary and tertiary markets in the Southeast United States. [00:12:56] Andrew Cushman: And then we have, certain things about population growth and median income and crime and all that. Right. And so the more conversations that we have with brokers about, Hey, that's what we're looking for. And so someday when, topnotch broker, Sam Wilson is out there having lunch with the seller and the seller goes, you know what, actually, yeah, I think I'm considering actually selling this thing. [00:13:18] Andrew Cushman: Sam goes, oh, you know what. You need to talk to Andrew and his group and cuz they could be the perfect buyer for this. That's how that off market deal happens that no one gets to see. Right. And like literally we bought, we closed 200 units, 173 units in March. That's exactly what happened. The broker was having breakfast with somebody who said actually yeah, these guys made me an offer and I think I'm gonna take it. [00:13:43] Andrew Cushman: And he said no, hold on. Let me hit, let me call one guy he actually texted me an hour later. I was over there, met with that seller may have been offered the next morning and we B closed on that property in March. Right? Wow. So it's about being top of mind. Not only because you've built a, an actual, real relationship, but by knowing exactly what you want so that they know exactly what you want, so they can go, oh, so they think of you first when that thing shows up and that applies whether you're looking at industrial or self storage or multi-family, or even, Duplexes or, I mean, fourplexes, that principle applies across the board. [00:14:22] Sam Wilson: I love that, that is some very tangible steps and advice that you've given there on just managing broker relationships and telling us how really we should be interacting with the brokers Devo, put yourself in a position where they think of you first. Are there things that you guys are doing outside of competing on price? [00:14:43] Sam Wilson: That makes your offers get accepted over somebody else [00:14:45] Andrew Cushman: yeah, we've never won on price. If I do I get nervous or I would, if we did, I would get nervous. So, how we win without winning on price. Number one is kind of what we're just talking about is we. Just don't get into bidding situations where we're up against 20 other, people and all this kind of things. [00:15:03] Andrew Cushman: So, but whether you're doing it off market and that's, I should mention too, just cause it's off market doesn't mean there's zero competition. Right, There's other guys just like you who are doing the same thing. And so there may be two or three or four other offers, even though it's not listed or marketed. [00:15:16] Andrew Cushman: So other ways to stand out, number one, larger deposits. If most people are giving a $50,000 deposit, maybe you put a hundred or 75 the other, another thing you can do and getting kind of relating to the deposit is hard money, which basically means, once, once you make that deposit, it's not refundable. [00:15:36] Andrew Cushman: Like you have to be certain. That you're you wanna close on that property? Right? So you can't come back 30 days later and be like, ah, you know what? The roofs don't look that good. And ah, this don't, we don't wanna buy this well. Okay, great. But they're keeping your deposit, right? So that hard money gives the seller comfort that you really are gonna close in. [00:15:57] Andrew Cushman: You're committed to closing. Another thing we'll do is we provide just a really short, like three sentence. Bio at the bottom of our letter of intent, which is our offer that this kinda says who we are. And, we adjust that to the property that we're buying. So for example, if we're buying a property in the Florida panhandle, we might say, oh yeah, we've done 2,600 units, blah, blah, blah, including recently acquiring and you know, units in. [00:16:25] Andrew Cushman: Like, oh, these guys just bought units here. Oh, well, okay. Well they, they're in the market. They understand they close, they can perform et cetera. We'll also provide, references, meaning other brokers that we've closed deals with loan brokers that we've closed loans with. [00:16:39] Andrew Cushman: So that we can, say so seller can be like, oh, okay, well, these guys just closed the loan. Flow loan with this company, or, and actually, maybe for example, we just, so we just were in the process of selling two properties and the guy that we accepted his offer, he did that. And when I looked at his references, I personally knew the two brokers he put as references. [00:17:03] Andrew Cushman: I'm like, oh, alright. I can call these guys and talk to him. And if he's working with these two brokers, then I know he's a legitimate guy. Right. Because I know those brokers. Right, right. So, just that, that extra level of, did that one thing win him the deal? No, but it was an extra comfort point, like, oh, alright, well, he's working with these guys. [00:17:20] Andrew Cushman: I've worked with these guys. He's, clearly knows some people and has been doing things. So tho those are some of the ways that that you can do it also have your financing arranged in advance as much as possible.  [00:17:32] Sam Wilson: That is some excellent points. I appreciate that. That like you said, there are, larger deposits. [00:17:38] Sam Wilson: You can go hard on your money early on. You have a short bio and a letter of intent. You can have references to other deals you've done in other brokers, as well as, talking, even in that short bio talking about. Putting maybe the deals that you've closed nearby, the ones that you're looking at there. [00:17:52] Sam Wilson: I think those are those some excellent excellent things to really keep in mind as we put offers out there. Tell me about this. You are going on a pretty big adventure here. I think sometime this year. Tell us a little bit about what you're doing. It sounds a little bit risk. To uh, guys like me, but tell us about that, why you're doing it and then how you view that from a risk adjusted perspective and then how you relate that back to multifamily  [00:18:19] Andrew Cushman: Let's see. Well, yeah I love to go. I love to do back country skiing. Which means a couple, I've got a part, one particular friend. I do it with a lot, but I go, I never do it alone, but what that means is instead of going to a ski area and buying a Lyft ticket, we just drive around the Western us. [00:18:35] Andrew Cushman: And find really cool looking mountains and the Tetons or the seas or wherever and say, Hey, it'd be fun to ski that. So let's climb it. And then we'll ski down. And we've been doing that for 20 something years around the Western us. We've done it in Alaska. And we are, going to go do that in Antarctica. [00:18:53] Andrew Cushman: Yeah. I spend some time on the Antarctic peninsula climbing mountains and skiing. 'em down there. No, and we're not doing it alone. It's not just me and my buddy. Like, Hey, let's figure out how to get to Antarctica and, die in a CVOs or something. Right. We are going with people who actually know what they're doing but yeah, really looking forward to doing that. [00:19:08] Andrew Cushman: And, it is exciting and, stepping a little bit outside the comfort zone. I don't know how I'm gonna. Get across the Drake passage without throwing up. Cuz I get Sea Sick of not looking forward to that. but yeah, I guess relating back to multi-family one it can be pretty scary to make a jump from doing, fourplexes or 10 units to a hundred or 200. [00:19:27] Andrew Cushman: So it's a bit of a jump to go from climbing a mountain, two hours from my house to. Go into the literal ends of the earth to climb climb stuff that you're days away from any kind of assistance. And then actually now I think about it might be a business trip because the other people there might make for good investors. [00:19:45] Andrew Cushman: So  [00:19:45] Sam Wilson: that's absolutely awesome. What are some other than going along with people that know what they're doing? What are some other things you're doing on this trip to kind of mitigate risk?  [00:19:53] Andrew Cushman: Preparation. I mean, we, I try to be fairly physically fit as just in general, always have, but we're, making it in an extra effort to be in as. [00:20:04] Andrew Cushman: Fine tuned condition as possible before we go down there. So, being a healthy condition as possible also I'm having all my gear tuned up and going through it, making sure it's in, in good shape. So we don't have any gear failures out in the middle of nowhere. And also relating to business. [00:20:22] Andrew Cushman: I've been really fortunate. This is something I did too late, but three years ago I finally started building a bigger team around me in our business. And we've had, our success has multiplied because we've been fortunate. We've got some amazing people that have joined us. So this is also a good forcing factor for, making sure. [00:20:41] Andrew Cushman: If Andrew's off the grid for 10 days or whatever that everything runs smoothly without me. So this has been a good catalyst to, to push forward on that because one of my flaws is a lot of times it's just like, it's just quicker for me to just get something done, right. Instead of take the time to build the system. [00:20:59] Andrew Cushman: So somebody else can do it. And many times there's other people who would love to do it and want to do it right then mom's like, well, it's just faster. If I just handle this well, Maybe at the moment is faster, but not in the long term.  [00:21:09] Sam Wilson: That. Yeah. I heard building systems is never fun. Like, I think it's fun to get something checked off the list, but it's also not scalable so without building systems, there's no scale. [00:21:20] Sam Wilson: So that's that's absolutely awesome, Andrew, thanks for the time to come on the show today. Best of luck on your trip and Antarctica. I can't wait to follow along and see how that trip shakes out. That sounds absolutely amazing. You've given us some awesome things to think about in immediate ways that we can, [00:21:33] Sam Wilson: some of these very hands on approaches in our business. So appreciate taking the time to come on today. If our listeners wanna get in touch with you or learn more about you, what is the best way to do that?  [00:21:42] Andrew Cushman: Yeah, just Google vantage point acquisitions. The website is VP acq.com. [00:21:48] Andrew Cushman: There's a bunch of tabs on there for how to get connected with us. I mean, I'm on bigger pockets in LinkedIn and all that stuff, but just going to the website's probably the best way. Awesome.  [00:21:58] Sam Wilson: Andrew, thank you for your time today. Certainly  [00:22:00] Andrew Cushman: appreciate it. All right. Take care, Sam. Good to talk with you.   

Episode 120: “I don't think we've ever purchased something that was listed since 2015 or 16” is a testament to how important building relationships can be in this industry so today, we talk to our guest Andrew Cushman, founder and principal at Vantage Point Acquisitions.  His passion drives him forward in entrepreneurial endeavors but his easygoing, friendly spirit is what builds lasting friendships with his investors and business partners. He shares his relationship building process, and the role it plays in furthering his business Andrew is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007, Andrew left his corporate position to start a business in real estate investment, starting off flipping single family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,500 multifamily units. He is a frequent guest and panelist on Real Estate podcasts and educational forums. 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 to not be outwitted by his two young children. For today's episode we will cover: [ 00:00 - 07:00 ] Guest Intro: Andrew CushmanAndrew's BackgroundThe next big thing and what builds lasting income and wealthMarkets diversified in and where time and effort goes [  07:00 - 23:24 ] Go deeper in a smaller areaBuilding relationshipsRelationship building process New strategies for this market cycle [ 23:24 - 39:07 ] Structuring your debt properlyMistake that sponsors and passive investors makeInstead of competing on price compete on executionThis is not gonna lead to a crash or widespread price declines [ 39:07 - 41:22]  We've lost the certainty and stabilityWhat's on the horizon and Vantage Point Acquisition[  41:22 - 44:46 ]  What Andrew likes to do to further his education in investingIs there one event that changed the course of your trajectory?Advice that will help listeners grow their real estate businesses Tweetable Quotes: Connect With Guest:Website: https://www.vpacq.com/LinkedIn: https://www.linkedin.com/in/AndrewCushmanVPA/YouTube: https://www.youtube.com/channel/UCr_PLJ2AoRH6PNc7Zi27XPAInstagram: https://www.instagram.com/vantagepointacquisitions/?hl=enSUBSCRIBE & LEAVE A 5-START REVIEW as we create a lifetime of wealth and financial freedom through multifamily investing!  Invest with us! Check out Blue Oak Investments: https://blueoakinvests.com/Cody LaughlinLinkedIn: https://www.linkedin.com/in/cody-laughlin-35067660/Facebook: https://www.facebook.com/cody.laughlin.543 Instagram: https://www.instagram.com/codyblueoakcapital/?hl=enJohn Batey

Is multifamily real estate investing as complicated as investors make it out to be? If you're Andrew Cushman of Vantage Point Acquisitions, you'd probably argue that although multifamily has a bit more complexity than single-family rentals, it's still, by all means, profitable for the everyday investor. In the early 2000s, Andrew didn't know anything about pro formas, apartment underwriting, or the best type of mulch to use on large-scale landscaping. Now, more than a decade later, Andrew has been able to lead his team in acquiring, syndicating, and repositioning over 2,500 multifamily units. He's here with David Greene to answer live questions surrounding anything and everything related to multifamily investing. He gives stellar takes on the current state of the market, how rising interest rates will affect multifamily investing over the next few years, and the best way to increase your ROI (return on investment) on a multifamily acquisition.You don't need to be a large-scale apartment investor to take away some golden nuggets from this episode. Even if you've never thought of investing in multifamily, Andrew frames multifamily in a way that'll have you wondering, “could I buy that apartment down the street?” In This Episode We CoverThe five most important factors to understand when looking at a multifamily deal Multifamily debt and equity, plus how they dramatically differ from single family rentalsHow to use pro forma calculations when underwriting a deal and protecting yourself from overinflated profit numbersWhether or not today's rising interest rates will cause a sell-off of multifamily propertiesThe easiest improvements that will dramatically boost your ROI on a multifamily propertyWhat rookie investors get wrong about finding good deals in today's market And So Much More!Links from the ShowBiggerPockets Youtube ChannelBiggerPockets ForumsBiggerPockets Pro MembershipBiggerPockets BookstoreBiggerPockets BootcampsBiggerPockets PodcastSubmit Your Questions to David GreeneVantage Point AcquisitionsInvest with David GreeneThe 3 Cs to Achieving Success as an InvestorGoBundanceBiggerPockets Podcast 170: The Journey From Flipping Houses To Owning 1470 UnitsBiggerPockets Podcast 279: How to Find Overlooked Opportunities in a Hot MarketBiggerPockets Podcast 586: The 8 Steps That Will Stop You From Getting Burnt on Multifamily DealsBiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily DealDavid Greene | BiggerPocketsDavid Greene MeetupsDavid Greene TeamClick here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-607See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

From selling minigolf courses' lost balls back to them as a child to having flipped thousands of apartments to this day, Andrew Cushman has always had a knack for entrepreneurship. By a happy accident, he's become one of the biggest real estate investors around. Achieving this wasn't a walk in the park, however. Andrew's road to success was a humbling one; it took a lot of grit, guts, and discipline before he could get to glory. We're often told to learn from our mistakes, but Andrew takes it a step further — he's made sure to never make them again. Listen to the full episode as Andrew shares the importance of investing in yourself, accepting help from others, and consistently learning. Here are some power takeaways from today's conversation: Part 1 Andrew's humble beginnings Becoming a real estate investor Consistently learning is key Investing in yourself Andrew's grit, grind, and glory Part 2 Taking smarter, not bigger, risks How to not lose sleep over your decision-making Andrew's appearance on BiggerPockets Rising from the ashes of your failures Notable quotes from the Episode: “Go find somebody that is already very successful at what you want to do, and learn from them.” “Be disciplined about the deals that you do or the business that you create.” “In my opinion, [the] correct path in the middle, when you're looking at a deal or business or becoming an entrepreneur, is to sit down and lay out what are all of the risks.” “You will much more regret the deal that you did that you shouldn't have than you would regret the deal that you didn't do that you should have.” “There was a lot of failures there, but the flip side of that is [that] we've never had anything happen like that again since, because of what we learned on that deal.” “I think the most important part is taking care of home life first.” Connecting with the Guest Website: www.vpacq.com LinkedIn: Andrew Cushman Connect with our growing community: Gobundance: https://www.gobundance.com/ Apply: https://www.gobundance.com/membership Facebook: https://www.facebook.com/gobundance LinkedIn: https://www.linkedin.com/company/gobundancegbl/ YouTube: https://www.youtube.com/user/GoBundance Twitter: https://twitter.com/GoBundance Tiktok: https://www.tiktok.com/@eodconfections?lang=en Not a millionaire yet but want to be a part of our ecosystem? Check out EMERGE by GoBundance. Enroll Today! https://www.gobundance.com/emerge Interested in starting your own podcast or handing off your production to a qualified team? Email erik@onairbrands.com to learn how we're making the world better, one mic at a time. --- Support this podcast: https://anchor.fm/erikecabral/support

Want to know how to analyze a multifamily property? Maybe you've analyzed duplexes, triplexes, quadplexes, or even ten-unit apartment complexes before, but what about the big deals? We're talking about multi-million dollar multifamily investments, with hundreds of units, large debt and equity structures, and many, many small pain points only experienced investors would notice.If you're looking for an in-depth overview of how to find, analyze, and buy a large multifamily property so you can build passive income and serious equity growth, then Andrew Cushman is the man to talk to. Andrew is so good at what he does that he's partnered up with BiggerPockets Podcast host, David Greene, to invest together.In Andrew's previous episode, he touched on the “phase I underwriting” that comes with analyzing a multifamily deal. In this episode, Andrew focuses on what investors should do after they've triaged their deals and are left with only the best in the bunch. Andrew spent years worth of time analyzing deals to come up with these eight steps. He shares them today so you can have less headache and more investing success than when he started!In This Episode We Cover:How to quickly screen for potential hidden gems in the multifamily spaceThe eight steps that lead to perfect multifamily underwriting so you can make the best offer possible“Loss to lease” and using it as a value-add opportunity that most investors missGetting debt quotes, insurance quotes, and accurately calculating future property taxesWho's opinion you need to ask for before going through on a multifamily dealLooking for the opportunities and traps within a seller's financesWriting an LOI (letter of intent) and getting bigger deals under contractAnd So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Youtube ChannelDavidGreene TeamBiggerPockets Podcast 571: Is This Deal Worth My Time? The 6 Crucial Steps to Vet a Multifamily DealBiggerPockets StoreBiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew CushmanHow to Find Overlooked Opportunities in a Hot Market with Andrew CushmanAxiom MetricsCoStarALN Apartment DataApartments.comRent.comParks and Recreation (TV Show)David Greene's WebinarsDavid's InstagramAndrew's VisualsExample 1 (Spreadsheet File)Example 2 (Spreadsheet File)Example 3 (Spreadsheet File)Rent IncreasesLoss to LeaseDebt QuoteProperty TaxesRenovation Budget (Spreadsheet File)Connect with Andrew:Andrew's Linkedin ProfileAndrew's Company WebsiteCheck the full show notes here: https://www.biggerpockets.com/blog/real-estate-586See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Our guest, Andrew Cushman, tried different businesses before leaving his corporate position to start in real estate investment. In 2007, Andrew discovered house flipping, and in 2011, he transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,300 multifamily units.In this #TechandTacticsTuesday episode, Andrew will speak to us about choosing the right debt to match your exit plan. He'll give us tips on when and how to use different loans and hedge for a potential downturn. He also talks about building relationships with investors and brokers and picking the perfect market or location to start your multifamily investment. 

Real estate underwriting isn't a commonly used term within the residential world. If you're used to dealing with single-family homes, duplexes, triplexes, or quadplexes, you've probably done real estate underwriting to some degree, but you've called it “real estate analysis”. In both scenarios, investors are looking at what they'll make on a deal, how much they need to invest, and what exit strategies they have.But, in a hot housing market, like we're in today, by the time you analyze a deal, a deal may already be gone. You need a way to quickly sort deals into the “pursue” or “dump” piles, and Andrew Cushman, expert multifamily investor, may have just the solution for you. Andrew has been on the BiggerPockets podcast before and manages over 2,600 units, so he definitely knows what he's talking about!Today, Andrew showcases the phase one underwriting he uses to decide quickly on deals, as well as the four levers to look at before even getting into underwriting. His system can save you hours, or even days, if you're a full-time investor, and it helps rookie investors quickly analyze deals so they can get into the game. Now, residential owners can transition into commercial real estate with better scale and bigger profits.In This Episode We Cover:How Andrew scaled from zero to 2,600 units in only ten yearsThe basic screening process that allows you to triage your deals and waste less timeFour levers every investor should look at when analyzing a new dealThe six factors of phase one multifamily underwriting and using it to unlock “home runs” Developing and nurturing broker relationships so you can get off-market deals before your competition And So Much More!Links from the ShowBiggerPockets ForumsBiggerPockets Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David GreeneBiggerPockets Podcast 170: The Journey From Flipping Houses to Owning 1,470 Units with Andrew CushmanBiggerPockets Podcast 270: Turning Your Primary Residence Into 40 Units & Financial Independence with Amy ArataHow to Find Overlooked Opportunities in a Hot Market with Andrew CushmanHal Elrod's WebsiteBiggerPockets CalculatorsSubmit your Question for an upcoming Seeing Greene episode!CoStarESRILoopNetInvest with David GreeneDavid's InstagramCheck the full show notes here: https://www.biggerpockets.com/show571See Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.

Ever wanted to know how people buy Apartment Complexes? Today's guest will teach you everything you need to get started today.Andrew Cushman is a former chemical engineer who found his entrepreneurial calling in real estate. In 2007 Andrew left his corporate position to start a business in real estate investment, starting off flipping single family properties in Southern California. Sensing a shift in the market, in 2011 Andrew transitioned to multifamily acquisitions and has successfully syndicated and repositioned over 2,300 multifamily units.Andrew is the operational brain behind one of the largest syndications in our group Gobundance. Accredited Investor and Interested in learning more about Gobundance?Website: https://www.gobundance.com/membershipBook a Call to Learn More: https://calendly.com/brianluebben/grablifebigInterested in Mindset / Business Coaching?Learn about/from Jason Drees: https://www.buzzsprout.com/1862491/9560562Book a Call to Learn More: https://coachjasondrees.as.me/20minintrobrianluebbenAndrew Cushman:https://www.vpacq.com/meet-the-teamAction Academy:https://www.actionacademypod.com/@actionacademypodcast

Scott Smith is joined by entrepreneur and real estate investor Andrew Cushman, who has invested in about 1,800 units so far and is always looking ahead for his next deal. This podcast covers how Andrew got into apartment investing with a deal in East Atlanta, having to work through 65 different lenders before finding someone who would work with him. Andrew shares his pattern to build those connections: networking, creative connections (he just shot a “intro” video in his backyard for someone!) and sheer persistence. In this podcast episode Andrew explains how he seeks out mentors, his process of rehabbing apartments, how to deal with delays and extra costs, due diligence, task delegation within partnerships, property management and course correction when things go wrong.

For over a decade, Andrew Cushman has been growing real estate investment businesses full-time. Starting off with single-family properties in the depths of the Great Recession, Andrew completed 27 single-family flips, all of which were profitable. In 2011, he transitioned to the acquisition and repositioning of multifamily properties and now acquires B-class, value-add properties throughout Texas and the Southeast United States. In total, Andrew and his team have acquired and repositioned over 2,000 multifamily units to date and, of course, each one of those units requires property management. In this episode, you will hear Andrew's experience of managing the property manager, from finding and hiring a third-party property management company to the biggest challenge he has faced in working with a property management company, and he also shares his best practices and talks about his asset management superpower. Tune in today!Key Points From This Episode:Find out a bit more about Andrew and what he doesBest practices for finding and hiring a third-party property management company.Making sure that your type of asset is what the company is best as managing.Why great property management companies are discerning about who they work with and have your best interests in mind.The biggest challenge Andrew has had with a company: managing renovations.Learn why Andrew has had to fire a property management company before.Andrew's best practices for managing the manager, like weekly calls with everyone, including the maintenance technician.Andrew's asset management superpower is being actively involved without micromanaging.Tweetables:“The wrong management can turn a great deal bad in no time.” — Andrew Cushman [0:03:36]“Do the best you can to find out if the people in the [property management] company have created a culture of integrity.” — Andrew Cushman [0:07:39]“Our asset management superpower is being able to partner with our third-party management in somewhat of an unusual way, to get everybody on the same team and function as if it was in-house and vertically integrated.” — Andrew Cushman [0:11:52]Links Mentioned in Today's Episode:Andrew Cushman on LinkedInAndrew Cushman on BiggerPocketsVantage Point AcquisitionsThe Multifamily Accelerator MastermindAsset Management MasteryAsset Management Mastery Facebook GroupRedIQ

In this week's episode, Pinny speaks with Andrew Cushman who transitioned from a full-time chemical engineer to acquiring and repositioning over 1,800 multifamily units. For over a decade, Andrew has been growing real estate investment businesses full-time. Starting off with single-family properties in the depths of the Great Recession, Andrew completed 27 single family flips (purchase, rehab, sell), all of which were very profitable. In 2011 Andrew transitioned to the acquisition and repositioning of multifamily properties, acquiring a mostly vacant 92 unit property on the other side of the country as a first deal. That first property was eventually sold for several times its original purchase price, and Andrew now acquires B Class, value-add properties throughout the Southeast. In total, Andrew and his team have acquired and repositioned 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 to not be outwitted by his two children. To connect with Andrew Cushman, click here. _ Pinny is an entrepreneur and multifamily real estate syndicator; he studied business management at Fairleigh Dickinson University. He then went on to be a sales representative for a building supplies company (Dependable Plastics). He was promoted to business development manager, where he supervised and grew a sales team that grossed over 5 million annually in sales. After meeting many successful real estate professionals on the job, Pinny was inspired and decided to begin his own entrepreneurial journey. He began in 2019 by purchasing his first real estate deal, a single-family home in Pennsylvania. Concluding that he would have to acquire hundreds of such properties to reach his goals of financial freedom, he decided that multifamily syndication would be the more efficient vehicle to help him reach his goals. Today Pinny is truly enthusiastic about multifamily syndication and has made it his mission to help as many people as possible achieve financial freedom, thus enabling them to pursue their true passions in life. Outside of real estate, Pinny is a gym rat, loves the outdoors, and enjoys baseball, swimming, and hiking. To get a FREE e-book: CLICK HERE. To connect with Pinny Lubinsky. E-mail: Pinny@PLCapitalVentures.com Instagram: @PinnyLubinsky Website: https://plcapitalventures.com/.

Andrew Cushman is a Chemical Engineer turned real estate investor who started flipping houses in Southern California during the Great Recession. He's since moved on to multifamily syndication, acquiring B and C class value add properties throughout the South East United States. He's since acquired and repositioned over 1800 units to date. It took Andrew 4576 calls before getting his first deal. He knew it was possible, and all that was left was for him to develop the skillset and put in the work. That's the difference between being interested or committed, and it enabled him to leave his corporate position in 2007 to start a business in real estate investment. Show notes : https://bit.ly/2Bzl5Op

Today we speak with former chemical engineer, now full time real estate investor, Andrew Cushman. Andrew is based out of Los Angeles and currently is a multifamily investor. However, prior to real estate, he spent seven years working for a large food company as a Plant Manager. Andrew started with single family flips and completed over 20 successful projects in just a three-year period. In 2010, he transitioned into multifamily syndication and has since acquired over 1,500 units! Listen up as Andrew has a lot to offer and explains his keys to success!