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Andy McQuade on Masters of Real Estate!
Manage episode 422324923 series 3560179
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Welcome back to another insightful episode of Masters of Real Estate! I'm your host, Matthew Owens, and today we have a special treat for you. Joining us is Andy McQuade, a seasoned expert in multifamily real estate with over 22 years of experience. Andy's journey has seen his managing operations at Home Depot and developing the groundbreaking TCO method—Total Cost of Ownership—which assists owner-operators in making smarter, long-term decisions about property purchases, renovations, and operations.
In this episode, we'll dive deep into the importance of operational efficiencies, the intricacies of cost analysis, and the critical role of thorough due diligence in the multifamily sector. Andy will share his transition from the supply side of the industry to full-time asset management, where he has helped increase asset values by millions. We'll explore the pitfalls of skimping on quality, the impact of insurance costs on asset value, and the strategic benefits of captive insurance policies.
Whether you're an experienced investor or just starting out, this episode is packed with valuable insights and actionable tips. Plus, don't miss out on the 200-point due diligence checklist available on matthewoens.com, designed to help you evaluate multifamily investments with confidence. So, sit back, take notes, and let's get started on mastering the art of real estate with Andy McQuade.
00:00 Salesforce, Home Depot district manager, multifamily focus.
05:39 Real estate investors face operational challenges, due diligence.
07:16 TCO concept emerged in the mid-eighties.
09:49 Cutting costs on materials can backfire financially.
13:54 Started business, adapted during Covid, successful anniversary.
18:49 Improving property value through operational efficiencies.
22:17 Preparing for potential economic downturn, focusing on debt.
24:54 Self-insuring through a separate business entity.
28:13 Focus on operational efficiencies and reduce turnover costs.
31:22 Emphasizes importance of understanding insurance and investing.
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