Show notes
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 SegmentI introduce Andy McMullenHis path to real estate [05:08 - 11:29] Wealth Generation Boost your serotonin levelsAndy explains whyCreate wealth and keep your faith [11:30 - 20:33] Tenant Audit Don’t miss Andy’s tactical steps as an active operatorHow to be a successful conservative investorWhat to watch out for in real estate right now[20:34 - 35:15] Reversion Cap RateWhat’s the biggest part of the deal?Andy’s advice for general partners We talk about the beauty of Reversion cap rateMediocre deal with great operator or great deal with mediocre operatorWhich do we prefer? [35:16 - 43:17] Mindset-Changing Andy tells us why mindset is crucial in real estate Building habits He gives inspirational insights about teamwork Quick announcement from meWe just reached 10,000 downloads in 90 days![43:18 - 47:27] Closing SegmentConnect with Andy. Links below Final words from Andy and meTweetable 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------------------------------------------------------------------------------------------Get in touch with Andy on LinkedIn and visit Legacy Acquisitions to learn more about their services. Connect with me:https://www.5tcre.com/FacebookLinkedInInstagramWatch 5T CRE on YouTubeLeave us a review and receive your free ebookEmail us --> [email protected] the Show.