In this article

On this inspiring episode of the BiggerPockets Podcast, we sit down with real estate entrepreneur Andrew Cushman to learn how he went from a full-time job as a chemical engineer to a house flipper and finally a real estate syndicator, buying over 1400 units in less than a decade. You’ll learn how Andrew finds deals, manages the rehabs on a large scale, raises money for large apartment purchases, and more. Don’t miss a moment of this powerful show!

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In This Episode We Cover:

• How Andrew started as a chemical engineer — then got into investing
• Why he trusted his mentor from the outset
• How many flips he has done so far
• Tips for scaling from 0 to 24 flips in 5 years
• The details of his first flip
• A discussion on buying pre-foreclosure properties
• The story of making 4,575 phone calls before getting his first deal
• The importance of believing in yourself and believing in the system
• How Andrew has flipped 24 properties and 1,470 apartments
• How he made money on the first flip
• How to scale by building a system
• How to find pre-foreclosed deals
• The best flip he’s ever completed
• Tips on weird houses
• His first apartment deal
• Why he doesn’t recommend a heavily distressed deal
• The difference between single family and multifamily properties
• How to become a “sophisticated investor“
• How he find apartment deals
• And SO much more!

Links from the Show

• Webby Awards
• Bloomberg
• DowJones
• HarvardBusiness
• Wired
• Forbes
• CNN Money
• BiggerPockets Calculators
• Foreclosure.com
• PropertyRadar
• Realtytrac
• How to Buy a Foreclosure : The Comprehensive Guide to Buying a Foreclosed Home
• General Foreclosure & Pre-Foreclosure Forums
• BRRRR Strategy
• GoBundance
• BP Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod
• BP Podcast 166: How Modeling Greatness Can Get You To 100+ Deals with Matt Aitchison
• BP Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene
• 1 Life Fully Lived Organization
• Slack

Books Mentioned in this Show

• Rich Dad Poor Dad by Robert T. Kiyosaki
• The One Thing by Gary Keller and Jay Papasan
• The E-Myth Revisited by Michael E. Gerber
• Emerging Real Estate Markets by David Lindahl
• Multi-Family Millions by David Lindahl
• Start with NO by Jim Camp

Tweetable Topics:

• “This system will work so I’m going to make it work.” (Tweet This!)

Connect with Andrew

• Andrew’s BiggerPockets Profile
• Andrew’s Website

Windy Hill Manor Deal

Acquisition

• Purchase Price: $1,300,000
• Units: 94
• Financing: 100% equity
• Investor Equity: $1,675,000
• Acquisition Date: June 2012

Cash out Refinance

• Loan Amount: $1,400,000
• Original Investor Equity Returned: $1,340,000 (80%)
• Loan Date: December 2013

Current Valuation Based on 12 Month Net Operating Income

• At an 8% Cap Rate: $2,989,763
• At a 7% Cap Rate: $3,416,871

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.