Episode 64:
Andrew Cushman has a BS in Chemical Engineering from Texas A&M University. After graduation, Andrew worked in a Chemical Engineering company for 7 years in a variety of supervisory positions. During that time, Andrew (joined by his wife in 2004) experimented with a variety of businesses in the hopes of making the jump from W-2 employee to entrepreneur.
In 2007 Andrew discovered house flipping and left his corporate position to start a business in real estate investment. Starting off with single-family properties in the depths of the recession, Andrew completed 24 single family flips (purchase, rehab, sell), all of which were very profitable.
In 2011 Andrew transitioned to the acquisition and repositioning of multifamily properties, acquiring a mostly vacant 92 unit property on the other side of the country as a first deal. That first property was eventually sold for several times its original purchase price, and Andrew now acquires B Class, Value-add properties throughout the Southeast. In total, Andrew and his team have acquired and re-positioned 1,796 multifamily units to date.
Outside of the business world, Andrew has been a certified alpine ski instructor and when not working in real estate enjoys surfing, backcountry skiing, and time with his family. Andrew is married with two children and resides in Southern California.
What You Will Learn:
- How Andrew raised $1.2 Million financing in 6 months for his real estate property deal in 2011.
- Andrew shares the remodeling and renovation he had done on the property.
- Andrew’s staging approach to improving real estate investment properties.
- How Andrew refinances the property for another 3 years and sold it for around $1.7Million.
- Andrew shares his geographic strategies, both the wide and narrow scope with good demographic trends.
- The implementation of strict screening procedures for the real estate property investments especially in areas badly affected by recessions.
- Andrew’s insights that there is no such thing as a “bad market” only “bad strategy”.
- Why Andrew’s team is looking between 80 to 230 units per asset.
- How Andrew selects somebody for property management.
- The roles of Rehab coordinators for Andrew’s property deals.
- The best way for people to connect with Andrew.
Additional Resources from Andrew Cushman:
- Cell Phone: (714) 873-6426
- Email: andrew@vpacq.com
- Website: https://www.vpacq.com/
- LinkedIn: https://www.linkedin.com/in/andrew-cushman-959471a/
- Facebook: https://www.facebook.com/DAPT-Acquisitions-456701027786429/
- Instagram: https://www.instagram.com/vantagepointacquisitions/
- Youtube: https://www.youtube.com/channel/UCr_PLJ2AoRH6PNc7Zi27XPA