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 andrew@wildhorncap.com

Resources

The Millionaire Real Estate Investor by Gary Keller, Dave Jenks and Jay Papasan

Rich Dad Poor Dad by Robert T. Kiyosaki

Michael’s Course

Michael’s Contact Form

Free eBook: The Secret to Raising Money to Buy Your First Apartment Building

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