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What strategic decisions can lead to long-term success in real estate investments?

Dive into this engaging episode of Weiss Advice with Yonah as he interviews Andy McQuade, a multifaceted real estate consultant. Andy shares his journey from the supply side of building materials to consulting for multifamily operators. With over two decades of experience, Andy highlights the critical role of procurement, the concept of total cost of ownership (TCO), and how thoughtful decision-making can shape the future of real estate investments.

[00:01 - 09:32] From Lumberyards to Real Estate Consulting

• Andy's early career journey and his unexpected leap into entrepreneurship
• The impact of growing up with an entrepreneurial father
• Lessons from working in corporate environments

[09:33 - 18:19] Mastering Procurement in Multifamily Real Estate

• The meaning and importance of procurement in real estate
• How procurement can drive efficiency and long-term savings
• Insights on avoiding common operational pitfalls

[18:20 - 27:46] Total Cost of Ownership: A Game-Changer

• Andy's realization of TCO’s importance in real estate
• Practical applications of TCO in multifamily properties
• Adapting IT-based principles to real estate decision-making

[27:47 - 37:00] The Power of Networking and Education

• Andy's involvement with Real Estate Investment Associations (REIAs)
• How these groups foster learning and community among real estate investors
• Insights into the importance of staying updated on local policies

[37:01- 46:06] Building Success and Finding Fulfillment

• Reflections on defining success and balancing personal life with professional goals
• Andy’s thoughts on the evolution of his career and what’s next
• Encouraging entrepreneurs to focus on their strengths while delegating weaknesses

Connect with Andy:

Linktree: https://linktr.ee/andymcquade

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Tweetable Quotes:

“Don’t focus on putting band-aids on your weaknesses because you’ll constantly be chasing your tail. Focus on the things you’re good at.” – Andy McQuade

“Procurement isn’t just about buying things; it’s about shaping the direction of an entire company.” – Andy McQuade

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