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

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

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

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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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  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Russell Brazil:

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

    Ha! I'll try my best to remove the association with bed bugs to multifamily.  Those things are nasty! 

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Weekly accountability post:

    -Officially selected and engaged with a coach! Starting this engagement officially on the 28th

    -Submitted formally for my LLC with PA online - big step!

    -Launched and got my website for my LLC online - should be close to "good enough now", will continue to refine this

    -Submitted a few revisions to get my company's logo ready (hopefully done next week)

    -Finished R. Khleifs "Lifetime cashflow" book and M. Blanks book "Financial freedom and Real estate investing", now reading "Raising Private Capital" by Matt Faircloth

    -Listened to a handful of podcasts related to investing / MF RE which were fairly helpful

    -Attended our monthly local meetup group and offered to help with planning of future weeks planning sessions.  Connected with a few more members in the group 1:1 as well

    -Connected with another broker in my target market and got solid referrals as well (prop mgmt, lenders)

    -Engaged with a local RE attorney but wasn't getting a great feeling with this one, will keep looking

    -Started to build out my "network map" - outlining contacts that I'll begin working through to build my investor base starting over the holidays

    I think that's it for now - overall a productive week! 

  • Joe S.Pro Member
    Investor · San Antonio · Member since 2020 · 3k+ posts · 3k+ votes
    5y
    Originally posted by @Christopher B.:
    @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.  

    What size/multi family did you start with? 

  • Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    5y
    Originally posted by @Joe S.:
    What size/multi family did you start with? 

     My first investment was a 4-unit multi-family. 

  • Investor · Indianapolis, IN · Member since 2018 · 1k+ posts · 756 votes
    5y

    @Christopher B.Awesome! What market was this in?

  • Investor · Southeast, MI · Member since 2016 · 425 posts · 184 votes
    5y

    @Justin G.

    It was in Toledo, OH.

  • Rental Property Investor · Brooke Park Drive · Member since 2018 · 1k+ posts · 2k+ votes
    5y

    Reading books is good, here’s a challenge for you, establish a connection with one of the authors to the point that you are texting eachother.

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Account Closed:

    Reading books is good, here’s a challenge for you, establish a connection with one of the authors to the point that you are texting eachother.

    Accepted! I have made connections with some local sponsors recently, but like this idea of reaching out to an author. :)

    Also, I missed posting here last week but the good news is LOT of action has happened since.  I'll keep it brief for this update:

    -Underwrote 10+ deals

    -Established connections with 3 additional brokers in the Tampa area

    -Engaged with coach to refine my 90 day plan (might have to expand this now as I'm quickly plowing through it)

    -Met with 4 potential investors 1:1 in person and on phone, received lots of interest/verbal commits!! 2 more planned for this coming week

    -Launched social media platforms on Facebook and Linked In - already received several questions/contacts from this

    -Finished 3 additional books, reading another on Branding/Storytelling now

    -Built pitch deck for investors

    -Planning a trip to Tampa now in February 

    -Ordered business cards and branded polo shirts

    I'm sure I'm missing plenty but these are the highlights 

    From this point forward I'll structure my actions and updates around the following categories: Brand, Networking/Capital, Deals, and Education

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    UPDATE week of 1/10 - keeping the momentum!

    Education - Finished "Building a Storybrand" book at the recommendation of my coach, excellent read.  Used this to refine my website and email campaign.  Just finished "Wheelbarrow profits" this morning as well.  Attended/listened to 3 podcasts/webinars. 

    Brand - Updated messaging on website and email campaign.  I've been posting 2-3x a week on my social platforms (Facebook and linked in).  Also received my business cards and ordered some custom shirts with my logo.

    Network - Engaged with both securities and RE attorneys (local to market).  Spoke with 2 additional property managers and brokers.  Got referrals for inspectors and contractors as well.

    Deals - Booked trip to Tampa to explore the market and meet 1:1 with team members.  Underwrote 10 deals last week.  Discussed criteria with brokers (mentioned above).  Set up time to connect with key contacts during trip.

    Capital Raising/Dollars - Met with 3 potential investors 1:1 last week.  Answered tons of questions - getting some traction and interest here, mainly from social media so far.  

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Obsession level 10 ENGAGED!

    Each week my plans and actions get increasingly larger and I've become even more inspired.  I'll hit the highlights from the past week:

    -Decided to launch my podcast platform for one main reason - this is a proven way to reach my primary goal as quickly as possible which is to help 10,000+ individuals invest in real estate over the next 5 years.  I've never been too concerned with the number of doors or $ in AUM, although those will certainly follow in scale anyway.  I've talked with dozens of people over the past few weeks and I'm THRILLED to help each of them even if in a small way.  For me personally, the more people I can help with their goals the better! 

    -Prepping for my upcoming "field" trip to Tampa, scheduling time with PMs, Brokers, Attorneys, and fellow BP contacts!

    -Continue to educate through countless podcasts, learning about starting a podcast, mentoring/coaching sessions, and books.  About halfway through "The 10X Rule" by G. Cardone - while it's quite repetitive, there is something to be said for the message in the book, the underlying passion, and the emphasis and utmost necessity for massive action and personal accountability.

    More to come...for those still following, keep crushing your goals this year! Persistence and MASSIVE action are 100% neccessary.  Be on the lookout for big moves coming from me and my partners this year and well beyond...

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Main updates here - picked our launch date for our upcoming podcast, March 15th! Doing a few recording this week and will be editing with the help of my great co-host, @Dakota Brown.

    Just finished up with the MFIN Summit, great sessions and got to connect with some great people.

    Also came into a few Co-GP opportunities, will be vetting those this week.  Big things to come in 2021!!

  • Rental Property Investor · IL · Member since 2019 · 285 posts · 137 votes
    5y

    @Andrew Schutsky

    What will the podcast be called? Love your enthusiasm man!

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Stephen Jones:

    @Andrew Schutsky

    What will the podcast be called? Love your enthusiasm man!

    Thanks! The show name will be "Crushing Cashflow"! We are pumped to get it released, lots of hard work (but fun) upcoming over the next few weeks.  Next recording on Wednesday....  

  • Rental Property Investor · IL · Member since 2019 · 285 posts · 137 votes
    5y

    @Andrew Schutsky

    Awesome! I'll be in tune. Good luck.

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Quick update for the week - 

    -2 Podcasts recorded and currently in editing

    -Working on a co-GP deal in the Atlanta (94 unit) area right now which is consuming most of my time (rightfully so) 

    -Reading "The book about real estate" by Matt Jones (excellent overview of all real estate book

    -working on some marketing material for my LLC and podcast

  • New to Real Estate · Member since 2020 · 52 posts · 7 votes
    5y

    Wow..so much energy and enthusiasm.Love it..Congrats 

  • Real Estate Broker · Ocean View, NJ · Member since 2014 · 188 posts · 82 votes
    5y
    Originally posted by @Mya Toohey:

    @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!!!!  

    Hello Mya,

    I actually went to the University of Tampa. Are there any foreclosures in Tampa that have value add potential? Looking to hold something down there as a second home. Thanks!

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Abhishek Pareek:

    Wow..so much energy and enthusiasm.Love it..Congrats 

    Thanks! It's the only way to approach things for me :)

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y
    Originally posted by @Benjamin Haberman:
    Originally posted by @Mya Toohey:

    @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!!!!  

    Hello Mya,

    I actually went to the University of Tampa. Are there any foreclosures in Tampa that have value add potential? Looking to hold something down there as a second home. Thanks!

    Ben - Saw your a realtor in Ocean View, we actually have a rental business in Sea Isle City and pass through that area each time we take a trip down. :)

  • Rental Property Investor · Austin, TX · Member since 2014 · 34 posts · 45 votes
    5y

    @Andrew Schutsky I'm really enjoying reading your continued updates. Thanks for modeling your focus and accountability as you take solid steps towards MF. I'd encourage you to consider making a BP blog to post these kinds of updates too. Looking forward to the podcast! 

  • Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
    5y

    @Andrew Schutsky

    Hey Andrew!

    Similar thing happened to my team and I!

    We come from the SFR space- Wholesaling, Creative financing to obtain rentals, fix and flips etc.

    Learning more about the Multi-family space opened our eyes to what was possible.

    We were working hard every day for 12+ hours, and so are many people in this industry!

    Once we got into the MF space, we realized the amount of work we were doing would not change by moving into this space, however we could work towards BIGGER goals with the same work ethic and commitment.

    Glad you made the move and wish you the best! Looking forward to staying connected.

    Jeffrey

  • Real Estate Broker · Ocean View, NJ · Member since 2014 · 188 posts · 82 votes
    5y

    @Andrew Schutsky

    You own rentals in sea isle?

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    @Erin Deann Martin thanks for the kind words, glad you're enjoying! I've been keeping a blog on our website, but perhaps I should start one here as well! Maybe getting a bit more mileage out of the content I'm already writing anyway, thanks for the suggestion!

    @Jeffrey Donis thanks and let's stay connected! you're lucky to be located in a HOT market!

    @Benjamin Haberman yes sir! 

  • Investor · Durham, NC · Member since 2020 · 1k+ posts · 691 votes
    5y

    @Andrew Schutsky

    For sure! Wish you the best!

  • Investor · Glen Mills, PA · Member since 2019 · 185 posts · 208 votes
    5y

    Weekly updates - highlights:

    -Worked on refining the capex plan as well as completed an investor summary for our potential acquisition 

    -Recorded 2 podcast episodes, thanks again to my co-host @Dakota Brown for the help in prep, editing, and brainstorming! 

    -Cleaned up our LLC branding deck

    -Wrote a new blog article on our website 

    -Set up podcast facebook page and started initial marketing 

    -Nearly finished the "Book About Real Estate" by Matt Jones (great read, check it out if you haven't already) 

    -Final prep for my field trip to Tampa next week 

    -Set up more upcoming investor calls 

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