Aug 25, 2020
Even if you haven’t been in the multifamily space for long, it may only take sheer determination to get some deals. Anybody that puts forth effort in real estate can create cash flow.
Today’s guest is Andy Vaughan, Principal of Back Nine Investors. He was in the insurance industry for 27 years and worked with several high-income net worth clients and business owners interested in real estate investing. However, Andy wasn’t wanting to be a landlord. Instead, he focuses on helping people invest passively in apartments.
Topics on Today’s Episode:
- Golden Handcuffs to Golf Courses: Andy’s real estate journey to residual income
- Network: Seek out information and ask for introductions from diverse database
- Affordable Care Act: Required to put commissions in admin portion calculations
- Book of Business: Income cut by 84 percent and burnt out on insurance policies
- BiggerPockets: When starting over, listen and learn to generate revenue again
- Captive Audience: Powerful professionals with money (doctors, dentists, others)
- Buying vs. Building Business: History, problems, and fixes—get stuff done
- Syndication: Tool in the toolbox to create cash flow and passive income
- Mentors, Coaches, and Masterminds: Teach you to find, fund, and operate deals
- COVID and Capital: Year’s worth of mortgage payments in reserve before closing
- Right or Wrong Opportunities: Unemployment, vacancy, moratorium on evictions
- Do Something: Every day, find a way, put a rung on your ladder, keep moving up
Links and Resources Mentioned:
- Back Nine Investors
- Andy Vaughan’s Email
- Andy Vaughan’s Phone: 318.614.0681
- Tony Robbins
- Carleton Sheets
- Affordable Care Act (ACA)
- BiggerPockets
- Cost Segregation
- Fannie Mae
- Freddie Mac
- Tom Wheelwright
- Auction.com
- Why the Rich Get Richer by Corey Peterson
- Kahuna Investments
- Kahuna HQ
- Kahuna Boardroom
- Multifamily Legacy Podcast on YouTube
- Multifamily Legacy Podcast on Facebook
Quotes:
“I want to be able to play golf during the day and make plenty of money.” - Andy Vaughan
“Sometimes, you don’t even sell, you just talk about the opportunity. The right people self-select. That’s how I’ve raised money all my life.” - Corey Peterson
“People tend to understand that real estate tends to make money most of the time.” - Corey Peterson
“Syndication is a tool.” - Andy Vaughan
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