{"id":77755,"date":"2016-04-14T00:02:10","date_gmt":"2016-04-14T06:02:10","guid":{"rendered":"https:\/\/www.biggerpockets.com\/renewsblog\/?p=77755"},"modified":"2023-04-14T02:46:10","modified_gmt":"2023-04-14T08:46:10","slug":"2016-04-14-bp-podcast-170journey-flipping-houses-owning-1470-units-andrew-cushman","status":"publish","type":"post","link":"https:\/\/www.biggerpockets.com\/blog\/2016-04-14-bp-podcast-170journey-flipping-houses-owning-1470-units-andrew-cushman","title":{"rendered":"The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman"},"content":{"rendered":"<p class=\"p1\">On this inspiring episode of the <a href=\"https:\/\/www.biggerpockets.com\/podcast\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Podcast<\/a>, we sit down with real estate entrepreneur <strong>Andrew Cushman<\/strong> to learn how he went from a full-time job as a chemical engineer to a house flipper and finally a real estate syndicator, <strong>buying over 1400 units in less than a decade<\/strong>. You\u2019ll learn how Andrew finds deals, manages the rehabs on a large scale, raises money for large apartment purchases, and more. Don\u2019t miss a moment of this powerful show!<\/p>\n<p><a href=\"https:\/\/itunes.apple.com\/us\/podcast\/biggerpockets-podcast-real\/id594419649\" target=\"_blank\" rel=\"noopener\">Click here<\/a>\u00a0to listen on iTunes.<\/p>\n<h2>Listen to the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" frameborder=\"0\" height=\"200\" scrolling=\"no\" src=\"https:\/\/playlist.megaphone.fm?e=BIGPOC6353457119&#038;light=false\" width=\"100%\"><\/iframe><\/p>\n<h2>Watch the Podcast Here<\/h2>\n<p><iframe loading=\"lazy\" title=\"The Journey From Flipping Houses to Owning 1,470 Units with Andrew Cushman | BP Podcast 170\" width=\"640\" height=\"360\" src=\"https:\/\/www.youtube.com\/embed\/RuR0ZWyoxXU?feature=oembed\" frameborder=\"0\" allow=\"accelerometer; autoplay; clipboard-write; encrypted-media; gyroscope; picture-in-picture; web-share\" referrerpolicy=\"strict-origin-when-cross-origin\" allowfullscreen><\/iframe><\/p>\n<h2>Help Us Out!<\/h2>\n<p>Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found <a href=\"https:\/\/www.biggerpockets.com\/forums\/25\/topics\/161423-do-you-listen-to-the-bp-podcast\" target=\"_blank\" rel=\"noopener noreferrer\">here<\/a>. Thanks! We really appreciate it!<\/p>\n<h2>This Show Sponsored By<\/h2>\n<p>We just wa<img loading=\"lazy\" decoding=\"async\" class=\"alignright size-full wp-image-66280 no-display appear\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2014\/11\/RealtyShares.png\" alt=\"RealtyShares\" width=\"283\" height=\"60\" title=\"\">nted to give a shout out to our podcast sponsor\u00a0on today\u2019s show:<strong> RealtyShares<\/strong>. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!<\/p>\n<p>Learn more by visiting\u00a0<a href=\"http:\/\/www.realtyshares.com\/biggerpockets\" target=\"_blank\" rel=\"noopener noreferrer\">RealtyShares.com\/biggerpockets<\/a>!<\/p>\n<h2>Fire Round\u00a0Sponsor<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-77567 alignright\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/03\/simplisafe.png\" alt=\"simplisafe\" width=\"271\" height=\"58\" title=\"\">Check out <strong>SimpliSafe<\/strong> Security&#8217;s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn&#8217;t require a contract!<\/p>\n<p>Try it today with a discount:\u00a0<a href=\"http:\/\/simplisafepockets.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">simplisafepockets.com\/<\/a><\/p>\n<h2>In This Episode We Cover:<\/h2>\n<ul>\n<li>How Andrew<strong>\u00a0started<\/strong> as a chemical engineer &#8212; then got into investing<\/li>\n<li>Why\u00a0he trusted his <strong>mentor<\/strong> from the outset<\/li>\n<li>How many <strong>flips<\/strong> he has done so far<\/li>\n<li>Tips for scaling from <strong>0 to 24 flips in 5 years<\/strong><\/li>\n<li>The <strong>details<\/strong> of his first flip<\/li>\n<li>A discussion on buying <strong>pre-foreclosure<\/strong> properties<\/li>\n<li>The story of making <strong>4,575 phone calls<\/strong> before getting his first deal<\/li>\n<li>The importance of <strong>believing<\/strong> in yourself and believing in the system<\/li>\n<li>How Andrew\u00a0has flipped <strong>24 properties and 1,470 apartments<\/strong><\/li>\n<li>How he made <strong>money<\/strong> on the first flip<\/li>\n<li>How to <strong>scale<\/strong>\u00a0by building a system<\/li>\n<li>How to <strong>find<\/strong> pre-foreclosed deals<\/li>\n<li>The <strong>best<\/strong>\u00a0flip\u00a0he&#8217;s ever completed<\/li>\n<li>Tips on <strong>weird<\/strong> houses<\/li>\n<li>His first <strong>apartment<\/strong> deal<\/li>\n<li>Why he doesn\u2019t recommend a heavily <strong>distressed<\/strong> deal<\/li>\n<li>The <strong>difference<\/strong> between single family and multifamily properties<\/li>\n<li>How to become\u00a0a &#8220;<strong>sophisticated investor<\/strong>&#8220;<\/li>\n<li>How he find apartment <strong>deals<\/strong><\/li>\n<li><strong>And SO much more!<\/strong><\/li>\n<\/ul>\n<h2>Links from the Show<\/h2>\n<ul>\n<li><a href=\"http:\/\/webbyawards.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Webby Awards<\/a><\/li>\n<li><a href=\"http:\/\/www.bloomberg.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Bloomberg<\/a><\/li>\n<li><a href=\"http:\/\/www.dowjones.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">DowJones<\/a><\/li>\n<li><a href=\"https:\/\/hbr.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">HarvardBusiness<\/a><\/li>\n<li><a href=\"http:\/\/www.wired.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Wired<\/a><\/li>\n<li><a href=\"http:\/\/www.forbes.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Forbes<\/a><\/li>\n<li><a href=\"http:\/\/money.cnn.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">CNN Money<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/calc\" target=\"_blank\" rel=\"noopener noreferrer\">BiggerPockets Calculators<\/a><\/li>\n<li><a href=\"https:\/\/www.foreclosure.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Foreclosure.com<\/a><\/li>\n<li><a href=\"http:\/\/www.propertyradar.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">PropertyRadar<\/a><\/li>\n<li><a href=\"http:\/\/www.realtytrac.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Realtytrac<\/a><\/li>\n<li><a href=\"\/renewsblog\/2013\/03\/22\/how-to-buy-a-foreclosure\/\" target=\"_blank\" rel=\"noopener noreferrer\">How to Buy a Foreclosure : The Comprehensive Guide to Buying a Foreclosed Home<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/forums\/41-general-foreclosure-pre-foreclosure-forums\" target=\"_blank\" rel=\"noopener noreferrer\">General Foreclosure &amp; Pre-Foreclosure Forums<\/a><\/li>\n<li><a href=\"https:\/\/www.biggerpockets.com\/brrrr\" target=\"_blank\" rel=\"noopener noreferrer\">BRRRR Strategy<\/a><\/li>\n<li><a href=\"http:\/\/www.gobundance.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">GoBundance<\/a><\/li>\n<li><a href=\"\/renewsblog\/2016\/01\/14\/bp-podcast-157-simple-morning-ritual-help-dominate-every-area-life-with-hal-elrod\/\" target=\"_blank\" rel=\"noopener noreferrer\">BP Podcast 157: A Simple Morning Ritual to Help You Dominate Every Area of Your Life with Hal Elrod<\/a><\/li>\n<li><a href=\"\/renewsblog\/2016\/03\/17\/modeling-greatness-matt-aitchison\/\" target=\"_blank\" rel=\"noopener noreferrer\">BP Podcast 166: How Modeling Greatness Can Get You To 100+ Deals with Matt Aitchison<\/a><\/li>\n<li><a href=\"\/renewsblog\/2016\/04\/07\/bp-podcast-169hustle-persistence-build-wealth-real-estate-david-greene\/\" target=\"_blank\" rel=\"noopener noreferrer\">BP Podcast 169: Using Hustle and Persistence to Build Wealth Through Real Estate with David Greene<\/a><\/li>\n<li><a href=\"http:\/\/www.1lifefullylived.org\/\" target=\"_blank\" rel=\"noopener noreferrer\">1 Life Fully Lived Organization<\/a><\/li>\n<li><a href=\"https:\/\/slack.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Slack<\/a><\/li>\n<\/ul>\n<h2>Books Mentioned in this Show<\/h2>\n<ul>\n<li><a href=\"http:\/\/amzn.to\/2apqk2o\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Rich Dad Poor Dad<\/em><\/a> by\u00a0Robert T. Kiyosaki<\/li>\n<li><a href=\"http:\/\/amzn.to\/2apqoPG\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The One Thing<\/em><\/a> by\u00a0Gary Keller and Jay Papasan<\/li>\n<li><a href=\"http:\/\/amzn.to\/29YKjCt\" target=\"_blank\" rel=\"noopener noreferrer\"><em>The E-Myth Revisited<\/em><\/a> by\u00a0Michael E. Gerber<\/li>\n<li><a href=\"http:\/\/amzn.to\/2a9wIZu\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Emerging Real Estate Markets<\/em><\/a> by\u00a0David Lindahl<\/li>\n<li><a href=\"http:\/\/amzn.to\/2acqrjr\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Multi-Family Millions<\/em><\/a> by David Lindahl<\/li>\n<li><a href=\"http:\/\/amzn.to\/2a73x8G\" target=\"_blank\" rel=\"noopener noreferrer\"><em>Start with NO<\/em><\/a> by Jim Camp<\/li>\n<\/ul>\n<h2>Tweetable Topics:<\/h2>\n<ul>\n<li>&#8220;This system will work so I\u2019m going to make it work.&#8221; (<a href=\"https:\/\/twitter.com\/home?status=%22This%20system%20will%20work%20so%20I%E2%80%99m%20going%20to%20make%20it%20work.%22%20BP%20Podcast%20170%20biggerpockets.com\/show170\" target=\"_blank\">Tweet This!<\/a>)<\/li>\n<\/ul>\n<h2>Connect with\u00a0Andrew<\/h2>\n<ul>\n<li><a href=\"https:\/\/www.biggerpockets.com\/users\/AndrewC58\" target=\"_blank\" rel=\"noopener noreferrer\">Andrew&#8217;s\u00a0BiggerPockets Profile<\/a><\/li>\n<li><a href=\"http:\/\/vpacq.com\/\" target=\"_blank\" rel=\"noopener noreferrer\">Andrew&#8217;s Website<\/a><\/li>\n<\/ul>\n<h2>Windy Hill Manor Deal<\/h2>\n<p><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-77759 alignright\" src=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/04\/windyhillmanor-300x225.png\" alt=\"windyhillmanor\" width=\"300\" height=\"225\" title=\"\" srcset=\"https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/04\/windyhillmanor-300x225.png 300w, https:\/\/www.biggerpockets.com\/blog\/wp-content\/uploads\/2016\/04\/windyhillmanor.png 628w\" sizes=\"auto, (max-width: 300px) 100vw, 300px\" \/><\/p>\n<p><em>Acquisition<\/em><\/p>\n<ul>\n<li>Purchase Price:\u00a0$1,300,000<\/li>\n<li>Units: 94<\/li>\n<li>Financing: 100% equity<\/li>\n<li>Investor Equity: $1,675,000<\/li>\n<li>Acquisition Date: June 2012<\/li>\n<\/ul>\n<p><em>Cash out Refinance<\/em><\/p>\n<ul>\n<li>Loan Amount: $1,400,000<\/li>\n<li>Original Investor Equity Returned: $1,340,000 (80%)<\/li>\n<li>Loan Date: December 2013<\/li>\n<\/ul>\n<p><em>Current Valuation Based on 12 Month Net Operating Income<\/em><\/p>\n<ul>\n<li>At an 8% Cap Rate: $2,989,763<\/li>\n<li>At a 7% Cap Rate: $3,416,871<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>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 [&hellip;]<\/p>\n","protected":false},"author":17340,"featured_media":118976,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[4565],"tags":[],"class_list":["post-77755","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-biggerpockets-podcast"],"acf":[],"comment_count":0,"_links":{"self":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/77755","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/users\/17340"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/comments?post=77755"}],"version-history":[{"count":0,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/posts\/77755\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media\/118976"}],"wp:attachment":[{"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/media?parent=77755"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/categories?post=77755"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biggerpockets.com\/blog\/wp-json\/wp\/v2\/tags?post=77755"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}