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Andrew Campbell is a native Austinite and Managing Partner at Wildhorn. He is a real estate entrepreneur who first broke into the business in 2008 as a passive investor. In 2010 he transitioned into active investing and management of a personal portfolio that grew to 76 units across Austin and San Antonio.
He earned his stripes building and managing his personal portfolio before founding Wildhorn Capital and focusing on larger multifamily buildings. At Wildhorn, he is focused on Acquisitions and maintaining Investor Relations, utilizing his marketing and communications background to build long-term relationships.
Andrew shares how the multifamily industry is on fire, and it’s no surprise why. With rising rents throughout the country there are more opportunities than ever before for those looking to invest in this space wisely- apartment buildings don’t just give you returns but they also protect your assets from inflation.
Mr. Campbell also shares his philosophy – to do more alternative deals and get better investment results. Whether it’s investing in different assets or finding investment opportunities – taking action is the best way to learn.
Don’t miss out on this episode with Andrew, to also learn how Wilhorn values equity and fairness so that everyone has an opportunity at living their best life!
In This Episode
- Andrew’s background and how he got into real estate.
- Why choose a team like Wildhorn?
- Is Multifamily a good option during the current market?
- What is “safe” in multifamily investing?
- The forecasts of 2023.
- Andrew’s piece of advice on accelerating your wealth journey.
Hey everyone, and welcome to today’s show on Wealth Strategy Secrets. Today, we’re joined by Andrew Campbell. Andrew is a native Austinite and managing partner at Wildhorn. He is a real estate entrepreneur who first broke into the business in 2008 as a passive investor. In 2010, he transitioned into active investing and management of a personal portfolio that grew to 76 units across Austin and San Antonio. He earned his stripes building and managing his personal portfolio before founding Wildhorn Capital and focusing on larger multi-family buildings.
At Wildhorn, Andrew is focused on acquisitions and maintaining investor relations, utilizing his marketing and communications background to build long-term relationships. Andrew’s background is in market research and brand strategy, spending over 10 years across acclaimed advertising agencies and emerging technology consultancies.
Andrew, welcome to the show.
Thanks for having me. I’m looking forward to the conversation.
Yeah, absolutely. It’s always great to connect and, you know, being a partner and closely working with you guys over—it’s been at least three years now—it’s really been great to see you guys really operating, understand your methodology, how you guys are approaching the market, and how you’re managing from an asset management perspective.
I think, frankly, that’s what’s really on everyone’s mind today, as we’re recording this at the end of October with so much going on in the markets. There are just so many different events and everything. A lot of investors are really concerned about assets and trying to understand if they are positioned the right way.
Before we jump into some current market dynamics and your take on that, for the people who aren’t familiar with you, can you talk a little bit about your background and your journey? How did you even get into real estate in the beginning?
Yeah, which is a great question. When you read through that bio, it certainly seems like a winding journey.
I was born and raised in Austin and had the good fortune of being, as a joke, kind of born on third base and telling people I hit a triple. Austin has been an incredible market, frankly, my whole life. I’m 42, it’s grown tremendously. I grew up here, went to UT, and got an advertising degree.
In 2007, my dad got really sick—he had a stroke—and I came home. I was living out of state and came back to help him. That was really the trigger. First, it got me back home, and second, it got me into real estate. To your point about just thinking differently and growing wealth, it made me realize I needed to do something different.
I was on the corporate path, working in ad agencies. I had left that and was working in tech, but I was still on a corporate trajectory—401k, a little bit of stock investing. When my dad got sick, I realized I needed to do something different. I started buying rental properties because I wanted passive income. I was trying to figure out how to either not work as hard or create some passive income to supplement my time. It became super important as I tried to figure out how much help my dad would need and what kind of life I wanted for future kids.
Pretty quickly—and a lot of this goes back to being lucky to be from Austin—I’d buy a property, fix it up a little, and it would double in value. I’d pull out the equity and do it again. I spent a few years doing that, and along the way, I fell in love with the business. Having tangible assets—being able to walk up and see what you’re doing, the investments you’ve made—and seeing it bear fruit materially and financially was gratifying.
I also saw the difference I was making in an asset and in people’s lives. Doing a lot of the property management and talking to residents and tenants, I fell in love with that. That’s how Wildhorn started. At my wife’s insistence, she said, “This is what you’re clearly passionate about—go do it full-time, do it bigger.”
I learned that bigger properties are more efficient. It’s easier to manage 250 units than it is to manage four units, especially when they’re spread out across the city like mine were. That was the springboard for Wildhorn. Today, we have close to 4,000 units across 15 assets in Austin and San Antonio.
It all comes back to wanting something different, thinking differently about investing, and creating a different type of life.
For sure. Was there a particular trigger or moment that made you think unconventionally, realize 401ks weren’t the right route, and focus on passive income?
It really goes back to reevaluating my whole life. When I moved back home, helping my dad, I was thinking about what to do next. I’ve always wanted to think differently. Maybe some of that came from being in a creative industry like advertising—not just going along with the flow but challenging convention.
That mindset probably led me to invest in real estate and take that leap. Once you get into it, you realize it’s different. It has intrinsic benefits—tax advantages, inflation resistance, being a hard asset. For me, there was probably an inherent lack of trust in the system or “the man,” whatever you want to call it.
I don’t understand how stocks work, how they’re manipulated, or how valuations are determined. But I get the value of an asset, a piece of property. Whether it’s a duplex or a 300-unit building, you can understand how it works. It’s not that complicated. You pay X, somebody pays Y for rent, there’s debt in the middle, you keep it up, and that’s it. It might have a lot of zeros, but it’s not a complicated business to wrap your head around.
Yeah, no, that makes perfect sense, and I think most people can relate to that.
Even if you’re not an investor, you likely have your own primary residence, and you kind of get the dynamics of real estate as it is. But let’s unpack that a little bit. I think it’s a great point, and so many people—how many times have you heard it?—transition from single-family into multi-family. But you’ve never really heard people say, “I went from multi-family into single-family,” right?
I think there are some really interesting points there, and I’d love to get your perspective on that. Why choose a team like Wildhorn? It really puts you in that passive position, but now you have a professional team—one that’s finding the asset, managing the asset, and taking care of it.
Can you talk a little bit about your team structure and how that relates to, let’s say, an active investor on the single-family side?
Yeah, a hundred percent. It’s great—again, kind of my journey—you realize there’s no such thing as a truly passive investment when you own a rental property. Whether it’s a single-family home, a four-plex, or a small apartment, nothing about it is passive.
You also can’t support a team. There’s not the financial ability to have a management company or an on-site manager. You’re the maintenance guy, you’re getting the phone calls when a toilet backs up, you’re handling financing, and you’re doing construction. You’re doing it all—it’s not passive.
As I fell in love with the business, I realized it wasn’t going to be passive. My whole psyche shifted. I wasn’t looking for passive investing anymore. I thought, “I love this stuff. I want to do it forever. This is fun.”
You see that bigger properties allow you to scale. Even as someone very active in the business, each property supports three, four, five, six, or even eight full-time employees who handle the day-to-day—the maintenance requests, keeping the property clean, leasing, and so on. That was part of the appeal of larger properties.
You also get efficiencies—roofs, systems, parking lots, etc. The math breaks out better. It’s not one or two homes sharing a roof; it’s 10 or 12 units in a building under one roof. It’s one parking lot for 300 units. Those efficiencies add up, making it a better financial investment from a team standpoint.
If you’re a passive investor and you’re investing with us or with someone like you guys, that’s truly the only kind of passive investment. You’re trusting a fiduciary to manage your dollars. We have the teams and systems in place.
Each asset has on-site team members—let’s call it six on average for a 200-unit building. On top of that, we have our Wildhorn team. Today, we have six people focused every day on asset management, construction management, and reviewing business plans. We look at where our debt sits, what’s coming up, and if we’re getting the renovation premiums we anticipated.
We’re also managing supply logistics—like when to order the next batch of materials to ensure we have the vinyl flooring or single-basin sinks we need—and monitoring the premiums we’re getting relative to comps. It can get rather detailed. There’s a lot that goes into managing a big asset with a lot of zeros behind it. That’s the machine we’ve built, allowing us to focus on our assets every day.
For us, it’s really important—and I think for investors as well—why we’ve stayed focused locally. We’re exclusively in Central Texas, in Austin and San Antonio, where I’m from and where the company is based.
Being local gives us the ability to be in our assets. For example, this morning, we’ve had three different people at four different assets. We’re constantly in our assets. It also gives us local market knowledge and conviction—we know we’re on the right corner, in the right part of town, and we understand what’s happening.
It’s very active for us, but as a passive investor, you want that trust in your operating partner. You want to know they’re in the business, that they’re active, that they know what they’re doing, and that they’re engaged.
Yeah, absolutely. I think passive investing really comes down to your greatest asset, which is time. People often underestimate that when they say, “Hey, real estate is a great idea, so I want to get some rental properties.”
Once you’ve had a few smaller properties, you realize you start getting sucked down the rabbit hole of small minutiae you get involved in. That’s really not how you want to scale and grow your life or your time.
By being able to work with a professional team such as yours, you get access to top-notch professionals and different markets. That’s really our business model—to work with operators such as yourself who have a strong competitive differentiation and a strong niche, maybe based on a particular market or asset class.
Getting exposure to the Austin market—it’s been such a hot market for so long—is a really great place to be.
For sure, absolutely. I think that’s a big part of it, and I agree—it’s been a good place. I think it’ll continue to be a good place, but it’s home, which helps.
Yeah, for sure. And all of that inside knowledge, like you said, starts with even identifying the deal in the first place.
Identifying an off-market deal and having those deep relationships with the brokers, who know you guys can execute, is key. So, identifying the deal in the beginning and then managing the deal throughout the life cycle is critical.
But, Andrew, let’s transition a little bit into the current environment that we’re in. Do you still believe multi-family is a good bet right now? We’ve got rising interest rates and seemingly unstoppable inflation.
There are major events happening in the world, and we’re seeing the markets—it’s definitely been a tough year on the stock market side. So, do you think being in multi-family is still a good bet for you, or what are you guys seeing right now?
I mean, we do, and I think that’s probably part of the reason I started the company—just a personal belief that multi-family is the best asset class and the sort of safest investment out there.
It’s always been, I think, as in the last—call it five years, ten years, whatever—it’s been extremely hot, right? In some ways, we’ve outperformed every pro forma we’ve had. Rent growth has gone up, cap rates have compressed, and it’s been incredible.
But I think the underlying thesis of what we’ve always believed in, and what I feel, is that multi-family is the safest asset class. And in Central Texas, layered on top of that, is the best geography. So, it’s been somewhat of a defensive investing strategy kind of from the get-go.
Particularly, you know, as that transition, we started raising money from people. What I want to make sure of is—I don’t want to go lose people’s money. I don’t want to have those conversations of, “Here’s a capital call,” or “Sorry, this was a risky deal.” We’ve never had that attitude or mindset.
I think we’re a group that has never taken more than 70% leverage—that’s kind of an internal rule we’ve got. So, we’re not out there chasing 80% leverage. And okay, in some ways, that’s hurt us from a marketing perspective over the last several years because people are out there averaging or marketing, “Hey, this is a 20% IRR,” or “We think we’ll have this huge return.”
We’ve always said, “Look, we’re going to underwrite conservatively and stay kind of in our lane.” And while we probably outperform that, we’re trying to hit low teens. And then we’ve been lucky to vastly outperform that as the market has shifted.
You’ve seen the volatility in the stock market, interest rates rising—multi-family still, to me, feels like the safest bet out there. I think I’ve talked a lot with other friends and operators in different spaces in real estate, and some of the other asset classes are almost untouchable.
A friend of ours operates in Nashville, and we talked about a multi-family deal. He said, “Look, we think the downside here, kind of a worst-case scenario on this deal, is an 8, let’s say, if everything falls apart.” With office, the downsides are zero. If you buy an office building, lose your tenancy, and the economy’s in the skids—that’s not a place you can be.
I think, at least for me as an operator, it’s about asking, “What’s the downside risk?” So, as much as things have shifted and pricing is off from its peak and interest rates are rising, we’re still seeing people pay their rent. Rents are still growing.
It goes back to being in the shelter business, you know? In an uncertain environment, it’s not the most sexy, and it hasn’t offered 5x returns like some private equity things or startups have.
But I think in an environment like this, it may be the most important time to be in a good, inflation-resistant kind of asset. Like Central Texas—a high-growth market—and multi-family is a good place. That’s kind of been my view.
Yeah, sure, can you break that down just a little bit more in terms of, so you know what does safe really mean to you right? So you just talked about the market, but let’s let’s drill into that a little bit more.
Something’s safe at the highest level is about preservation of capital. Do I believe that my personal investment—and if you’re investing with us, your investment—is safe? That there’s little to no risk of that going away? Or, if you give me a dollar, are we going to give you back something less than a dollar?
I think if we look at where we sit today and how we’ve always underwritten deals, our break-even occupancy to service the debt has always been 78% on average. So, if our building’s 78% occupied for a sustained period of time, like a year, we could still service our debt and move forward, right?
You look at 2008–2009, which was a real estate bubble and just a bad time for the industry, the average occupancy in Austin and San Antonio was like 88% or 89%, and that lasted for about three or four months. So, if you look at that sort of safety blanket, if you will, of how much occupancy would have to drop for us not to be able to service our debt—that, to me, is safety from an investing standpoint.
Now, in that environment, are we going to hit the underwritten returns? Are we going to hit a double-digit or mid-teens return if we had to go sell a building? No. But will we be in an environment where you’re losing your principal? That’s unlikely, either—it’s hard to fathom.
Whereas, in the stock market, you could lose 50% of your value overnight, or in some other asset classes where the volatility is much higher. There’s more certainty baked in, I think, is the way we think about it.
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Right, and you wouldn’t be forced to sell. Let’s say that the market conditions aren’t really right, even though your proforma had you selling on a five-year type hold. There would be nothing forcing you to sell, would there?
No, it obviously depends on your loan structure and the duration of your term. One of the things that, again, staying conservative on leverage is something we’ve always focused on, and then making sure we’ve got duration. So if we’ve underwritten a five-year business plan, we’ve modeled a five-year exit. I think where you will see some potential pain is with folks that have gotten really highly levered and have said, “Hey, to hit this pro forma, we’re going to refi it in 18 months.” So they’re planning to get in and out of this thing and counting on the fact they’re going to qualify for an extension on their loan or that new debt will be available.
We’re fortunate not to be in that position. We’ve got things maturing over the next year and beyond, but depending on where they are on their plan. I’ll give you an example: we’ve got an asset in San Antonio coming up on five years of ownership. We had a 10-year fixed-rate loan, so we have no gun to our head. Ideally, we’d exit this year or next year, but we’re not forced to.
That’s a huge piece of it. And again, as an operator and the principal of the company, I’m not losing sleep at night thinking, “Hey, we’re sitting behind a really bad position here.” We don’t have a maturing debt issue with no way to refinance or being forced to sell. That’s the way you get hurt.
Again, I don’t think you’re losing people’s money in that situation, but you’re not in control of your destiny, if you will, from a timing standpoint.
Right and given the current debt markets you know what type of structures are you favoring right now on the buy side?
Yeah, it’s interesting. I mean, today we don’t have anything that we’re under contract on or looking to execute now. Obviously, the market has slowed down a lot. I think you’re seeing, per our previous comment, if you don’t have to sell, there’s no reason to sell right now. Prices are down, and a lot of groups are just sitting on the sidelines.
It’s getting to the end of the year, and there’s so much volatility. People are waiting for a bit of direction or maybe some signaling from the Fed that says, “Hey, we’ve gotten as high as we need to, and we can stabilize.” So there’s not a ton out there.
As we’re looking, I think what you’ve seen is that rates are up significantly, probably tripled in some cases from where they were at the beginning of the year. You’re seeing the total dollars being put out being much lower. Your leverage point, say, was 65% to 70%, or previously could have been 75% to 80%. Now you’re at 55% to 60% leverage—maybe 65%—but that’s going to be at almost 7.5% to 8% interest rates.
It’s hurting the values of some deals and what people can pay strictly based on the financing and how much negative leverage you’ll take from a cap rate standpoint. The lenders are… it’s just a fundamentally different market than it was, certainly six months ago, but even 45 days ago, as the forward curve of SOFR has continued to blow out and erode deal values.
To specifically answer your question, we would probably lean more toward a floating-rate execution right now. Again, longer-term, we’d put a rate cap on it but believe that over the next five years, it’s tough to see rates going a whole lot higher. We’d be betting that they come down some but certainly not looking to get a really fast two- or three-year term and hope that happens in the immediate term.
Yeah, it makes sense. And as you kind of look into 2023 right now, given current conditions, you know, really from the acquisition side, what are you guys really forecasting? What’s your plan for next year?
We’ve got a term we use called “consistent attendance,” meaning we want to always be out there, active, looking at what’s out there, talking to brokers, talking to owners, operators—just being consistent in our conversations and methodology. So we’ve never had a target from an acquisition standpoint, whether that’s deals, dollars, or units. We want the ability, when we find something we believe in—and we use the word “conviction” a lot—when we have conviction on something, we want to be able to execute it.
So that’s always been kind of our mindset, and I think that won’t differ next year. I do anticipate the first half of the year deal volume maybe picking up a little bit from where it was this fourth quarter. The folks that, again, if you’ve got a debt maturation coming up, they’ll sort of be net market sellers, and those deals will be out there. I think in Austin and San Antonio specifically, some of the new construction—the stuff that’s coming out of lease-up—those developers will still be sellers. They’re ahead of their pro forma, so you’ll see a lot of kind of lease-up new construction deals that are trading.
But we are really focused on being resourceful and looking at lots of different types of deals, looking for ways where, whether it’s ground-up construction, partnering with a developer we know and kind of being the operator of that, if it’s a redevelopment play, if it’s a value-add—being selective but opportunistic and just seeing what’s out there.
But I think it’ll be probably a little bit slower, at least in the first half of the year, as the world waits for this to settle out a bit and have some direction on: Are we as bad as everybody thinks it could be? Are we kind of at the top of an interest rate perspective? Just things need to settle down a little bit, feels like.
Right, and what do you think in terms of the market that you’re in right now? Do you foresee any material changes really happening in your market, or, you know, what are some of the latest updates?
From what standpoint? Kind of just the performance of the properties?
Yeah, I mean from job growth, population growth, you know, rent growth. What are you seeing, and how do you anticipate that changing over the next 12 months?
Yeah, you know, so population and job growth—I think we see those both continuing to grow. It’s interesting. Our kind of article this month talks a lot about that and sort of our involvement civically with a lot of the local Real Estate Council of Austin. Cooper will be the chair next year, and the data suggests continued population growth. You know, the Chamber of Commerce Austin has a pipeline that’s probably never looked so full—sort of in their words—that what’s attracted companies here over the last, you know, decade continues to attract companies here.
And the economic volatility, you know, coming out of COVID and now sort of in this new higher-interest-rate world, and things are shifting, probably only accelerates and continues to prop Austin up more so than some of the other markets. So we think that the job and population growth will continue next year and, frankly, for a while. One of the reasons we’ve got so much conviction about staying local is that nothing that has happened here has fundamentally changed, and all the sort of tailwinds remain behind us.
So on that front, we feel good. And those are the two most important factors, by the way, for us—just from an investment thesis—it’s population growth and job growth. You know, this goes back to being in the shelter business, not being in office, not being in retail. You know, some of the things like people need to live somewhere, and they’re moving here.
Enjoy helps the affordability piece, which has really had an impact. That’s probably the biggest thing—the biggest challenge we’ve got—as we’ve grown so fast that Austin is quickly…the cost of living is quickly increasing. You layer in, you know, higher interest rates and property tax values going up. I think I saw a stat last week: $900 was the average increase in a mortgage versus a year ago, and in some places, a lot more than that.
So if you weren’t buying a home before this run-up in Austin, it’s tough to do that now—tough to qualify—which buoys the performance of our assets. Again, that may not be a great thing long term, but in the mid to short term, we’ll stay full. And you look at some of the development landscape in Austin—it’s always been challenging. It’s not just a “we approve everything” situation. It takes 18 to 24 months to get your entitlements and your plan in place.
So there’s a lot of supply coming, and as you look at just the population growth that’s coming, it sort of supports it. But we think that rent growth has to slow down, and we’ve certainly throttled that back in our underwriting. I mean, we’ve been, you know, at 20 percent for the last year plus. So we say it’s slowing down, and we’re seeing it sort of in real time start to moderate. That was inevitable.
And I’m not sure how much of that is economically driven versus just people can’t sustain—nor should we expect them to sustain—20 percent year-over-year rent growth. But property performance is good. It maintains strong. Occupancies are strong. Renewals continue to be good. So we think all that may fall more in line with historical averages. I think next year is still going to be higher than a three percent average rent growth, but it’s cooling off from where we were.
Yeah, I think a lot of people don’t realize, you know, back in 2008, right, the default rate overall for multi-family was actually less than one percent. Right, and it really just supports those macro dynamics and the things that, you know, you were talking about—basically, you know, investing in real assets and also having a long-term view of this.
You know, some people, I think we all get sometimes a little conditioned from, you know, Wall Street and the markets, right? That, you know, things are like—you say you could lose 50 percent of your value, you know, overnight. Real estate is slow and steady, right? And you have to, you know, be a long-term visionary to see your investment kind of play out and make decisions based on the long term. That’s how you win at the game.
But, you know, I would concur with you that, you know, given all the analysts, a lot of the top investment firms, and things where people are positioning their money right now is in hard assets, right? And where the fundamentals, again, you have primary, main imbalances in supply and demand. There is still a huge shortage of supply in this country. And then when you go into this, you know, hyper-local market of San Antonio and Austin, right, there’s even less supply.
Right, so I think that insulates us a little bit further. So, I definitely agree with your thoughts on that. Yeah, it’s something else that, and I’d love your opinion on this.
I feel like it doesn’t always get outside the credit it deserves or maybe as much thought, but if you’re comparing investing in the stock market versus a real estate investment and you’re looking at kind of what your return is and what, you know, the average return of the stock market historically is—it’s nine percent—and you’re looking at a real estate return of, let’s say, it’s nine percent, you know, but factoring in…
How do you think through some of the other benefits, like some of the tax benefits, the depreciation, some of the inflationary aspects of being, you know, sort of benefiting, if you will, from some of the inflation?
I’ve not seen a formula that can take that piece into effect, but do you think through those pieces when you’re making kind of personal investments? And how do you quantify that, if at all? Because it’s something we talk a lot about. I certainly personally am thinking about it, but nine percent is not always just apples to apples when you add in some of the other true, you know, tangible benefits you’re getting as one investment over another.
Yeah, Andrew, that is really the basis of our holistic wealth strategy, right? The book I wrote encompasses that. Because, again, I think you’re right, you’re absolutely right. As people look at things, they basically see them as single-threaded and just want to know what the return on investment is. But when you start looking at things comprehensively, right, through a lens that takes you 360 degrees, you realize that, you know, we’re going to get into these assets and get some tax efficiency.
Okay, so that’s going to offset the passive income, the passive gains, right, that are coming out of this investment. You do have the income, the predictable income, right, that you’re building as well, and you’re getting paid that on a regular basis. And then, on the back end, right, you have a chance for some lucrative upside potential, right, when you exit the property and sell, hitting that equity multiple target. Then, really, you transition those funds right into the next opportunity and defer your taxes even from there.
So, I really see this as a trifecta or a three-dimensional type of investment. We have models that, you know, I’ve been running for years, even personally. When I got into this and I’m looking at the IRR, right, so when you calculate the IRR and you put into it things like bonus depreciation, right, and what you’re actually getting out of that, it’s really substantial.
We even have a calculator on taking a 401k and asking: how is your 401k performing over a 15-year period versus what if I sold my 401k, paid the 10% penalty, paid all the taxes up front? When is your break-even analysis, and where would you be in 5, 10, or 15 years? It’s quite compelling that if you have a good property, right, such as some of the deals you guys have done, and you just rinse and repeat, you can actually break even in 3 or 4 years—pretty quickly—and really accelerate your money.
But in addition to all of that, you know, there’s this other component, right, which is we’re thinking about the rate of return really from a multiple—multiplying your money perspective. This is also about protection of capital, right? So, on an asymmetric basis, not only are you getting better returns than the market will give you, but you’re doing that on a risk-adjusted basis. That’s really powerful.
Then, there’s this other unseen benefit that I think is super powerful and underrated: it’s all about having control. So, again, to your point earlier, you know, you wake up in the morning and you see that your market positions are down 50%, down 20%, and you know, for no rhyme or reason, right? Something completely outside of your control. Whereas, as you articulated earlier, when you’re in multifamily, right, you have a business that you understand, all the market dynamics, right? It’s much more long-term, and you can control the levers, right, in terms of how you manage it.
Then, investors get the choice to say, “Hey, I’d like to get some exposure to a market like Austin.” So, I think having control and creating these alternative passive income streams really comes in and further mitigates your risk. Because if you lose your job or something like that, it’s nice to know that, hey, I can pay my mortgage, right, because I have multiple income streams coming in.
So, that’s a little bit—you got me fired up right there. Because that’s really our investment thesis, Andrew, and how we see things. And multifamily fits in there quite well.
Yeah, it makes sense. It’s interesting. I’ll have to get that calculator you talked about and see how you add all the benefits together, because it’s hard to quantify. You know they exist, and it helps me sleep at night, but it’s not always apples to apples.
Yeah, for sure. So, Andrew, if you could give investors just one piece of advice on how they could accelerate their wealth journeys, what would it be?
I think not be afraid to think differently, which a lot of what you and I have talked about today. Just trying something new, whether that’s investing in a rental property or a piece of real estate, or talking to a friend about a different strategy—just doing something alternative. I think the more you do that, the more your eyes get opened to different ways of thinking, different return profiles, types of deals, and it kind of puts you down the rabbit hole a bit of all the different things that are out there. So I think just starting to think differently or even sprinkle some capital into a deal that you know if somebody you know or trust is talking about, to experience something that’s not just a throw money at a 401k and blindly see what happens—something we have a little more control over, a little more touch and feel from an operator or whoever is putting it together. Just trying it. Because I think I’ve found that I really liked it. I mean, the vast majority of everything I do is sort of alternative and relationship-based, and it’s not just, “Let’s plug it into a stock market wheel and see what happens.”
Yeah, great advice. I mean, you really have to take action. You know, if you’re someone who’s out there on the sidelines, kind of listening to all these podcasts and trying to learn, it is easy to get paralysis by analysis. The best way to learn is by actually doing a deal, working with a trusted partner, like Andrew’s team, and really seeing for yourself the results. You know, we got to work with his team during the pandemic and saw how they handled that. So, I come from the Marine Corps, and we talk a lot about people who were battle-tested. You really see what people’s real colors are when the bullets start flying. You guys handled that extremely well during that time, and I think it really put investors at ease. That’s great, because this is a team sport. Investing is a team sport, so working with quality teams like you guys is really helpful. I appreciate the words of wisdom, Andrew, appreciate your time, and what you guys are doing. If folks would like to learn more about yourself or Wildhorn, what’s the best place to reach out?
Well, I appreciate your time as well and enjoyed the conversation. For us, we’re pretty easy to find. Our company is Wildhorn Capital, and our website is wildhorncap.com. My email is [email protected], and we’ve got social media feeds where we try to post some interesting, relevant content. But the website’s probably the easiest and best place to connect directly, and you can email me there, and I’ll follow up with you, or you can email me directly, and I’ll follow up with you.
Awesome, thanks again, Andrew.
Thanks for having me.
You bet.