MB 094: Life by Design with Andrew Campbell

Andrew Campbell was 27-years-old, working a good corporate job when he got the call that his father had suffered a massive brain hemorrhage. So he moved back home to Austin and reconsidered what he wanted out of life. Flexibility and freedom became priorities for Andrew, and when an experienced friend invited him to partner up on the purchase of a duplex, he agreed. Very quickly, Andrew was ‘addicted to real estate,’ and he began to envision a long-term plan that would allow him to quit his job and pursue real estate full-time. Now Andrew is a managing partner with Wildhorn Capital, a real estate investment firm focused on multifamily properties in major Texas markets. Today he joins me to share how he made the transition from duplexes and fourplexes to his first multifamily deal, a 192-unit building in San Antonio. Andrew walks us through his first experience with raising money, explaining how being a real estate junkie helped him build a network organically. Listen in for Andrew’s insight on redefining success, taking risks, and leveraging an addiction to real estate to live the life YOU design. Key Takeaways How Andrew got into real estate Corporate job out of state Moved home after dad’s massive brain hemorrhage Changed notion of what success looks like Bought duplex with experienced mentor Andrew’s initial investment strategy Goal to create passive income Envisioned 15- to 20-year plan Add duplexes, fourplexes to portfolio Managed himself to learn business Why Andrew limited himself to four units or less Qualified for residential loans (up to ten) Model was familiar  Why Andrew transitioned to multifamily Reaching maximum # of residential loans Realized could realize dreams sooner Wife encouraged him to ‘go for it’ Andrew’s first experience with raising money Client through consulting work offered $100K Gained confidence, snowball effect Andrew’s first multifamily deal 11 months from decision to close Relationships with brokers in San Antonio Purchased 192-units for $16M ($6.5M raised) What inspired Andrew to ‘go big’ on his first multifamily deal Property management companies look for 125-plus More efficient to go bigger How Andrew was able to raise $6.5M ‘We networked our asses off’ Five meetings/week with new people Why Andrew chose to work with a partner Sees real estate as ‘team sport’ Met at conference, same business model/markets Complementary skill sets (both intense hustlers)  What’s next for Wildhorn Capital Strategic, disciplined to find deals that work Goal to expand to 1K units in 2018 How Andrew’s life is different as a full-time investor ‘Life by design’ Flexibility, freedom Feels he can do/achieve anything Full-time job no longer in way Andrew’s advice to aspiring multifamily investors Start buying property now Don’t be afraid of value-add Don’t be afraid to use other people’s money Take ownership, risks Connect with Andrew Wildhorn Capital Email [email protected] Resources The Millionaire Real Estate Investor by Gary Keller, Dave Jenks and Jay Papasan