5 Talents Podcast - How To Build Wealth Through Real Estate
Business:Investing
Andy McMullen - $750M+ in Real Estate, 1000+ Units; Why We Prefer a Mediocre Deal with a Great Operator
Andy is a Managing Partner at Legacy Acquisitions, working also as its Director of Acquisitions. A 20-year veteran in real estate, he has been working with investors to develop strategies that suit their needs, covering strategic acquisition in emerging markets to value-added strategies in local markets. Andy’s knowledge and experience in real estate have earned him more than $750 million in real estate transactions, as well as over 1,000 units.
In this episode, Andy drops some mindset-changing tips that you can apply to real estate investing. He also tells us why it’s all right to have a mediocre deal as long as a great operator is handling it.
Let’s jump into this episode and hear why great operators matter more in a real estate deal!
[00:01 - 05:07] Opening Segment
[05:08 - 11:29] Wealth Generation
[11:30 - 20:33] Tenant Audit
[20:34 - 35:15] Reversion Cap Rate
[35:16 - 43:17] Mindset-Changing
[43:18 - 47:27] Closing Segment
Tweetable Quotes:
“For the [limited partners]...there are stars out there that can be, that can turn around stuff that happens.” - Andy McMullen
“It wasn’t until I [started] scaling businesses and working with the team and helping people and being a servant that I was able to kind of really feel like ‘Now I can fire on all cylinders’ because it doesn’t have to be just me.” - Andy McMullen
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Get in touch with Andy on LinkedIn and visit Legacy Acquisitions to learn more about their services.
Connect with me:
https://www.5tcre.com/
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