5 Talents Podcast - How To Build Wealth Through Real Estate
Welcome to the 5 Talents Podcast - How To Build Wealth Through Real Estate. Your host Abel Pacheco interviews real estate investors, wealth managers, syndicators, operators, and other wealth management strategists. If you’re a top earner in your field, an accredited investor and focused on building wealth through real estate... then this podcast is for you.
Abel served his local church for nearly 10 years as a deacon and finance board member and now combines his passion for real estate investing, professional successes, faith, leadership, and core beliefs to serve his investment community.
If you want to learn what other multi-millionaires, wealth managers, and surrounding industry experts are doing to build and preserve wealth... then this podcast is for you.
www.5Talents.Capital
5 Talents Podcast - How To Build Wealth Through Real Estate
Andy McMullen - $750M+ in Real Estate, 1000+ Units; Why We Prefer a Mediocre Deal with a Great Operator
Andy is a Managing Partner at Legacy Acquisitions, working also as its Director of Acquisitions. A 20-year veteran in real estate, he has been working with investors to develop strategies that suit their needs, covering strategic acquisition in emerging markets to value-added strategies in local markets. Andy’s knowledge and experience in real estate have earned him more than $750 million in real estate transactions, as well as over 1,000 units.
In this episode, Andy drops some mindset-changing tips that you can apply to real estate investing. He also tells us why it’s all right to have a mediocre deal as long as a great operator is handling it.
Let’s jump into this episode and hear why great operators matter more in a real estate deal!
[00:01 - 05:07] Opening Segment
- I introduce Andy McMullen
- His path to real estate
[05:08 - 11:29] Wealth Generation
- Boost your serotonin levels
- Andy explains why
- Create wealth and keep your faith
[11:30 - 20:33] Tenant Audit
- Don’t miss Andy’s tactical steps as an active operator
- How to be a successful conservative investor
- What to watch out for in real estate right now
[20:34 - 35:15] Reversion Cap Rate
- What’s the biggest part of the deal?
- Andy’s advice for general partners
- We talk about the beauty of Reversion cap rate
- Mediocre deal with great operator or great deal with mediocre operator
- Which do we prefer?
[35:16 - 43:17] Mindset-Changing
- Andy tells us why mindset is crucial in real estate
- Building habits
- He gives inspirational insights about teamwork
- Quick announcement from me
- We just reached 10,000 downloads in 90 days!
[43:18 - 47:27] Closing Segment
- Connect with Andy. Links below
- Final words from Andy and me
Tweetable Quotes:
“For the [limited partners]...there are stars out there that can be, that can turn around stuff that happens.” - Andy McMullen
“It wasn’t until I [started] scaling businesses and working with the team and helping people and being a servant that I was able to kind of really feel like ‘Now I can fire on all cylinders’ because it doesn’t have to be just me.” - Andy McMullen
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Get in touch with Andy on LinkedIn and visit Legacy Acquisitions to learn more about their services.
Connect with me:
https://www.5tcre.com/
Watch 5T CRE on YouTube
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Email us --> abel@5tcre.com
