I've been bitten by the MF bug and there is no turning back...

Multi-Family and Apartment Investing
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I've been bitten by the MF bug and there is no turning back...

Andrew Schutsky
Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes

Hi All,

My name is Andrew and I'm from the Southeast PA area (Philly suburbs) and have been involved in real estate since 2006 when I purchased and "house hacked" my first home. To date I've been focused on buy and hold single family properties (including short term vacation rentals) and now looking to rapidly move into the Multi-Family world. I'm married to a fantastic very understanding wife and have been blessed with 2 awesome kids who are still relatively young. :)

Professionally, I've been working in the corporate world for 15+ years now currently as Supply Chain Technology Director for a $14B industrial company which has served our family very well. In the past few months, I've been thinking about our long term goals as a family - where we'd like to live in the future, college for the kids, ability to travel the world, and most importantly - achieving financial freedom! We have big goals and I'm adamant on taking constant action to do so. While my wife and I could easily stay on the corporate track for another 20+ years and live a great retirement, I'd strongly prefer to exit corporate in a 5-10 year time frame and focus all energy on my main passion - real estate. After extensive research for different paths as to how to get there, I've landed on multi-family investing as the best vehicle to great wealth for us to do so.

In the past few months I've read several books, attended online trainings, met with some prominent syndicators, and ventured into a few local meet ups and have met some really great, helpful people. The more I learn and connect with those who share a common passion, more momentum is gained and actions seem to happen exponentially faster. I've love to connect with many more on here who share a common interest and help each other along the journey. I really like Florida for both investing and as a next place to live for my wife and I - particularly Orlando, Tampa, and the SW FL area.  My next steps are to invest passively in a 100+ unit deal as well as find a mentor/coach to accelerate progress. 

I'm looking forward to the journey and the many friendships and successes achieved along the way!

Cheers,

Andrew

12Reply
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Most Popular Reply

Greg Dickerson
Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes
5y
Originally posted by @Andrew Schutsky:

Hi All,

My name is Andrew and I'm from the Southeast PA area (Philly suburbs) and have been involved in real estate since 2006 when I purchased and "house hacked" my first home. To date I've been focused on buy and hold single family properties (including short term vacation rentals) and now looking to rapidly move into the Multi-Family world. I'm married to a fantastic very understanding wife and have been blessed with 2 awesome kids who are still relatively young. :)

Professionally, I've been working in the corporate world for 15+ years now currently as Supply Chain Technology Director for a $14B industrial company which has served our family very well. In the past few months, I've been thinking about our long term goals as a family - where we'd like to live in the future, college for the kids, ability to travel the world, and most importantly - achieving financial freedom! We have big goals and I'm adamant on taking constant action to do so. While my wife and I could easily stay on the corporate track for another 20+ years and live a great retirement, I'd strongly prefer to exit corporate in a 5-10 year time frame and focus all energy on my main passion - real estate. After extensive research for different paths as to how to get there, I've landed on multi-family investing as the best vehicle to great wealth for us to do so.

In the past few months I've read several books, attended online trainings, met with some prominent syndicators, and ventured into a few local meet ups and have met some really great, helpful people. The more I learn and connect with those who share a common passion, more momentum is gained and actions seem to happen exponentially faster. I've love to connect with many more on here who share a common interest and help each other along the journey. I really like Florida for both investing and as a next place to live for my wife and I - particularly Orlando, Tampa, and the SW FL area.  My next steps are to invest passively in a 100+ unit deal as well as find a mentor/coach to accelerate progress. 

I'm looking forward to the journey and the many friendships and successes achieved along the way!

Cheers,

Andrew

Investing passively is one way to go. You could also just do your own deal if you feel you have the knowledge, skills and resources to pull it off. You can start at what ever level your comfortable with and there’s a lot of ways to get in the game. I was just like you when I made my transition to full time Entrepreneurship in 1997 and I work with people all over the country in the exact same position/stage in life. The real key is how bad you want it. It’s not easy to leave the comfort of corporate America and the longer you stay the harder it gets but the advantage of multifamily is you can start where you are and build quite a portfolio before you exit but you have to really want to make it happen, be willing to sacrifice your time away from work and get after it every day.

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  • Adam Lacey
    Investor · Castle Rock, CO · Member since 2018 · 297 posts · 159 votes
    5y

    @Andrew Schutsky

    It sounds like we have very similar goals. I've invested passively in 2 deals and am working on getting into my first GP position. Feel free to reach out if you have any questions or would just like to connect. Best of luck to you!

    Adam

    4Reply
  • Greg Dickerson
    Developer · Charlottesville, VA · Member since 2018 · 4k+ posts · 4k+ votes
    5y
    Originally posted by @Andrew Schutsky:

    Hi All,

    My name is Andrew and I'm from the Southeast PA area (Philly suburbs) and have been involved in real estate since 2006 when I purchased and "house hacked" my first home. To date I've been focused on buy and hold single family properties (including short term vacation rentals) and now looking to rapidly move into the Multi-Family world. I'm married to a fantastic very understanding wife and have been blessed with 2 awesome kids who are still relatively young. :)

    Professionally, I've been working in the corporate world for 15+ years now currently as Supply Chain Technology Director for a $14B industrial company which has served our family very well. In the past few months, I've been thinking about our long term goals as a family - where we'd like to live in the future, college for the kids, ability to travel the world, and most importantly - achieving financial freedom! We have big goals and I'm adamant on taking constant action to do so. While my wife and I could easily stay on the corporate track for another 20+ years and live a great retirement, I'd strongly prefer to exit corporate in a 5-10 year time frame and focus all energy on my main passion - real estate. After extensive research for different paths as to how to get there, I've landed on multi-family investing as the best vehicle to great wealth for us to do so.

    In the past few months I've read several books, attended online trainings, met with some prominent syndicators, and ventured into a few local meet ups and have met some really great, helpful people. The more I learn and connect with those who share a common passion, more momentum is gained and actions seem to happen exponentially faster. I've love to connect with many more on here who share a common interest and help each other along the journey. I really like Florida for both investing and as a next place to live for my wife and I - particularly Orlando, Tampa, and the SW FL area.  My next steps are to invest passively in a 100+ unit deal as well as find a mentor/coach to accelerate progress. 

    I'm looking forward to the journey and the many friendships and successes achieved along the way!

    Cheers,

    Andrew

    Investing passively is one way to go. You could also just do your own deal if you feel you have the knowledge, skills and resources to pull it off. You can start at what ever level your comfortable with and there’s a lot of ways to get in the game. I was just like you when I made my transition to full time Entrepreneurship in 1997 and I work with people all over the country in the exact same position/stage in life. The real key is how bad you want it. It’s not easy to leave the comfort of corporate America and the longer you stay the harder it gets but the advantage of multifamily is you can start where you are and build quite a portfolio before you exit but you have to really want to make it happen, be willing to sacrifice your time away from work and get after it every day.

    7Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Greg Dickerson:
    Originally posted by @Andrew Schutsky:

    Hi All,

    My name is Andrew and I'm from the Southeast PA area (Philly suburbs) and have been involved in real estate since 2006 when I purchased and "house hacked" my first home. To date I've been focused on buy and hold single family properties (including short term vacation rentals) and now looking to rapidly move into the Multi-Family world. I'm married to a fantastic very understanding wife and have been blessed with 2 awesome kids who are still relatively young. :)

    Professionally, I've been working in the corporate world for 15+ years now currently as Supply Chain Technology Director for a $14B industrial company which has served our family very well. In the past few months, I've been thinking about our long term goals as a family - where we'd like to live in the future, college for the kids, ability to travel the world, and most importantly - achieving financial freedom! We have big goals and I'm adamant on taking constant action to do so. While my wife and I could easily stay on the corporate track for another 20+ years and live a great retirement, I'd strongly prefer to exit corporate in a 5-10 year time frame and focus all energy on my main passion - real estate. After extensive research for different paths as to how to get there, I've landed on multi-family investing as the best vehicle to great wealth for us to do so.

    In the past few months I've read several books, attended online trainings, met with some prominent syndicators, and ventured into a few local meet ups and have met some really great, helpful people. The more I learn and connect with those who share a common passion, more momentum is gained and actions seem to happen exponentially faster. I've love to connect with many more on here who share a common interest and help each other along the journey. I really like Florida for both investing and as a next place to live for my wife and I - particularly Orlando, Tampa, and the SW FL area.  My next steps are to invest passively in a 100+ unit deal as well as find a mentor/coach to accelerate progress. 

    I'm looking forward to the journey and the many friendships and successes achieved along the way!

    Cheers,

    Andrew

    Investing passively is one way to go. You could also just do your own deal if you feel you have the knowledge, skills and resources to pull it off. You can start at what ever level your comfortable with and there’s a lot of ways to get in the game. I was just like you when I made my transition to full time Entrepreneurship in 1997 and I work with people all over the country in the exact same position/stage in life. The real key is how bad you want it. It’s not easy to leave the comfort of corporate America and the longer you stay the harder it gets but the advantage of multifamily is you can start where you are and build quite a portfolio before you exit but you have to really want to make it happen, be willing to sacrifice your time away from work and get after it every day.

     Thanks Greg - great advise.  I have no trouble investing dozens of extra hours each week to stay after our dream.  I've been debating passive vs. active for my first acquisition with an inclination to start passively to leverage other's experience and build many connections during the process.  I've been relentless in my pursuit of learning and knowledge in the past few months and will continue to do so either way.  Can't wait to see where this journey takes us. :) 

    2Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Adam Lacey:

    @Andrew Schutsky

    It sounds like we have very similar goals. I've invested passively in 2 deals and am working on getting into my first GP position. Feel free to reach out if you have any questions or would just like to connect. Best of luck to you!

    Adam

    Thanks Adam - I will certainly reach out, let's connect! 

    0Reply
  • Luke Rorech
    Real Estate Agent · Greater Tampa Bay · Member since 2017 · 392 posts · 290 votes
    5y

    Hi @Andrew Schutsky I'm in a similar boat as you in regard to being bit by the MF bug. I have personally completed or assisted in a number of flips in the Tampa bay area and am now focusing more of my attention on acquiring MF. Let me know if you have any questions about the area. Always looking to connect with like minded people. 

    5Reply
  • Bala Murali
    Member since 2019 · 3 posts · 3 votes
    5y

    Glad to hear awesome momentum from this post. Yes, I am also bitten by it and looking aggressively to open my account. I am in the DFW area and there are not too may of these in good locations. I am narrowing down duplexes and see how I can make this  happen. I am a Realtor and want to get out of the corporate world and do this full time. 

    3Reply
  • Mya Toohey
    Real Estate Agent · Tampa Florida · Member since 2013 · 630 posts · 303 votes
    5y

    @Andrew Schutsky

    WOW!!!!! That is so awesome to hear!  I am a Realtor/Investor in the Tampa Area.  I work in Pasco, Pinellas and Hillsborough Counties.  I grew up in Kentucky and always wanted to live in Florida...until I did...I love it....BUT I miss the 4 seasons and the SNOW, I never thought I would say that but I do....Let's connect!!!  I'm going to have to say this!  GO STEELERS!!!!  

    3Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Thanks all for the warm welcome! I should also add I just finished Brian Burke's recent book "The Hands Off Investor" (after 4 others in a row and 2 training programs) which is fantastic! I liked it so much I read it 2x in a row and took copious notes the second time around.  Just added Joe Fairless's syndication book which is set to arrive.  Wont' take too long to consume that as well. :)

    Any other strong recommendations to add to the list? Any training programs/self study coursework you'd add as a "must read/do?"

    Considering one of the following programs - I don't mind investing if the value is strong. 

    -Joe Fairless Apartment syndication mastery

    -Michael Blank Apartment Investing training

    -Rod Khleif bootcamp

    2Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Relentlessly continuing my pursuit of knowledge and connecting with others.  I'll continue posting here with updates to serve as my "accountability mirror." (David Goggins fans may relate here) :) 

    Made the most of a few days off from work! 

    -Knocked out a few more books (S. Berges Complete guide to buying and selling apartments, BP Estimating rehab costs and online learnings via Udemy).  Now reading Joe Fairless's "Best Ever Apartment Syndication" book which has been great so far

    -Purchased M. Blanks SDA tool and went through all online learnings and case studies.  Also found a few generally marketed deals to run through this with more examples.  Getting fairly comfortable with underwriting/modeling now.

    -Signed up for a few upcoming local meetups and a 2 day virtual conference in January 

    -Established contact with a broker in Tampa 

    -Connected via a phone call with 3 potential sponsors for passive investing  

    0Reply
  • Todd Dexheimer
    Rental Property Investor · St. Paul, MN · Member since 2016 · 3k+ posts · 3k+ votes
    5y

    @Andrew Schutsky congrats on having a clear definitive goal. That is what I see lacking the most in people that I mentor. Many people say they want to do something, but really don't have a goal and therefore have no real plan of action. 

    I like that you have the goal of passively investing in a 100+ unit. Make sure you take action on that quickly and know your next action step. 

    With the right actions, you will certainly be able to meet your goals and have the life that you are after. 

    2Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Todd Dexheimer:

    @Andrew Schutsky congrats on having a clear definitive goal. That is what I see lacking the most in people that I mentor. Many people say they want to do something, but really don't have a goal and therefore have no real plan of action. 

    I like that you have the goal of passively investing in a 100+ unit. Make sure you take action on that quickly and know your next action step. 

    With the right actions, you will certainly be able to meet your goals and have the life that you are after. 

    Todd - thank you very much for the guidance and support!  I'll post my next update in a few days but have made HUGE strides this week so far. We'll talk shortly as well ;)

    0Reply
  • Dean Fiacco
    Investor · Tampa, FL · Member since 2015 · 78 posts · 30 votes
    5y

    Hey @Andrew Schutsky I just relocated to the Tampa area and am pursuing similar goals. Let's connect when you're down here!

    3Reply
  • Danny RandazzoPro Member
    Apartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
    5y

    @Andrew Schutsky welcome to the multifamily club. It sounds like you’ve got good experience and motivation so you can be successful.

    2Reply
  • Andrew HoganPro Member
    Rental Property Investor · Indianapolis, IN · Member since 2016 · 559 posts · 463 votes
    5y

    @Andrew Schutsky Rod Khleif's boot camp offers WAY more value than the price you pay! He's got an amazing network. You won't be disappointed :) 

    All the best!

    2Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Danny Randazzo:

    @Andrew Schutsky welcome to the multifamily club. It sounds like you’ve got good experience and motivation so you can be successful.

    Thanks Danny! I'll "see" you at the MFIN Summit in January.  

    0Reply
  • Ian Checketts
    Rental Property Investor · Charleston, SC · Member since 2016 · 61 posts · 9 votes
    5y

    @Andrew Schutsky I love your passion! I'm in the same boat as you, cant seem to get enough of multifamily!

    1Reply
  • Jennifer Bourdeau
    Rental Property Investor · Nice, France · Member since 2019 · 9 posts · 7 votes
    5y

    @Andrew Schutsky I just finished the "hands off investor" and really appreciated it too. I've only invested in a couple deals passively (Tampa and Dallas areas), but am currently vetting a hand full of operators, including a couple I see in this thread ;) to make some more significant investments in the coming months. I'd love to connect with other serious passive investors to share experiences if you're interested in getting in touch. 

    2Reply
  • Danny RandazzoPro Member
    Apartment Syndicator · Charleston, SC · Member since 2016 · 973 posts · 728 votes
    5y

    @Andrew Schutsky I’m looking forward to seeing you at the event. I know @Dan Handford is exited for it too!

    2Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Ian Checketts:

    @Andrew Schutsky I love your passion! I'm in the same boat as you, cant seem to get enough of multifamily!

     Thanks Ian! The passion and energy and just getting started :)

    0Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Jennifer Bourdeau:

    @Andrew Schutsky I just finished the "hands off investor" and really appreciated it too. I've only invested in a couple deals passively (Tampa and Dallas areas), but am currently vetting a hand full of operators, including a couple I see in this thread ;) to make some more significant investments in the coming months. I'd love to connect with other serious passive investors to share experiences if you're interested in getting in touch.

    Excellent - Of course happy to connect.   Tampa is my #1 location of choice, already connecting with brokers and locals down there now.  Hoping to do a "Recon" visit in March/April of next year to tour some properties and really learn the area. 

    0Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Weekly accountability post - progress for this week:

    -Talked with 2 potential mentors/coaches

    -About halfway through Joe Fairless's book "Best Ever Apartment Syndication book" - this one is really great.  Ordered 2 additional books on amazon

    -Connected with 2 brokers from the Tampa area

    -Connected with 5 other investors with similar goals

    -Spent some time to refine my vision/goals (on paper).  This has really helped with my 90 day action plan which I'll share shortly as well

    -Spent some time really researching the Tampa area/demographics and capturing a ton of notes in excel

    -Listened to two helpful BP podcasts related to MF investing 

    -Found a high potential sponsor that I'll likely invest passively with if the deal closes in Jan/Feb 2021 

    Year end goal: Final selection of sponsor/mentor

    0Reply
  • Christopher B.
    Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    5y
    @Jennifer Bourdeau:

    I am an Active Investor, but read the "The Hands-Off Investor" as well, because I have been considering allowing others to invest alongside me. I would be open to hearing your or others experiences thus far as Passive Investors. 

    @Andrew Schutsky 

    Just do it, I was going to start with Single-family flips to build capital for Multi-Family is the way to go.  It was a competitive market, so I kept getting outbid.  I ended up going straight to Multi-Family, and haven't looked back.  

    2Reply
  • Andrew Schutsky
    OP
    Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Weekly accountability post - 12/11:

    -Finished Joe F's "best ever apartment syndication" book and also read "Syndication is a b*tch" and also Rod K's "lifetime cashflow book" in less than 4 days, ha.  My wife says obsessed, I say dedicated. 

    -Connected with 2 new brokers from the Tampa area

    -Decided on a company name for branding launch

    -Pitched my business launch concept to 3 coworkers this week (potential investors) who all seemed very interested and asking for more details

    -Attended an underwriting workshop (thanks @Todd Dexheimer!) Also practiced underwriting for several other deals

    -Networked and met 3 new BP members in 1:1 calls, this was really fun!

    -Drafted my 90 day plan (to be reviewed with coach shortly)

    I feel quite researched, now time to take action. Time to select a coach next week and get moving with LLC and website creation.

    1Reply
  • Joshua Adlam
    Property Manager · Member since 2020 · 108 posts · 68 votes
    5y

    @Andrew Schutsky

    I love this!! So excited for you

    1Reply
  • Russell BrazilBusiness Member
    Moderator
    Real Estate Agent · Washington, D.C. · Member since 2012 · 17k+ posts · 30k+ votes
    5y

    Is that like a Bed Bug from a multifamily? The heat treatment is more expensive than the chemical treatment, but it works better. 

    [email protected]301-893-4635Podcast Guest on Show #192
    District Invest Group545 Reviews
    WebsiteView Page
    3Reply
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