Real estate developer Andy McMullen discusses the growing trend of “build-to-rent” communities, explaining their appeal, economic advantages, and the challenges of development. He highlights strategic market selection, streamlined entitlement processes, and the increasing demand for single-family rentals. Andy also shares personal anecdotes from his career, offering valuable lessons on navigating financial hurdles, creating community impact, and delivering strong investor returns.

Guest Bio

Andy McMullen, a UCLA economics graduate, has built a 20-year career orchestrating nearly $1 billion in commercial real estate transactions. As Managing Partner at Legacy Acquisitions, he focuses on collaborating with world-class operators and providing premium service to investors. Outside of work, Andy dedicates his time to community service and family life with his wife and three children in San Diego, California.

Chapters

[00:00:00] Introduction to Build-to-Rent Development

Andy breaks down the concept of build-to-rent communities and their appeal to younger families and seniors.

[00:04:33] The Market Opportunity in the Southeast

Examining why the Southeast is a hotspot for build-to-rent developments, with advantages like lower costs and favorable municipal processes.

[00:12:30] Overcoming Development Challenges

Navigating zoning, entitlement, and financing hurdles in real estate development.

[00:18:00] Lessons from the Great Financial Crisis

Andy reflects on the 2008 financial crisis and its impact on his approach to risk and resilience.

[00:22:00] Raising Capital Under Pressure

A compelling story of adapting to unexpected financing changes and the importance of strong partnerships.

[00:25:15] Measuring Success in Real Estate Development

Balancing community impact with investor returns as key indicators of project success.

[00:28:00] Investor Returns and Time Horizons

Comparing returns for early versus late-stage investors and the shifting financial landscape.

[00:29:45] Advice for Aspiring Developers

Andy offers practical guidance, resources, and inspiration for newcomers to the real estate development field.

Contact Information

Learn more about Andy McMullen and Legacy Acquisitions at https://legacyacquisitions.com/

LinkedIn: https://www.linkedin.com/in/andymcmullen

Contact Eugene Gershman at https://giscompanies.co/podcast