In this episode of the Apartment Investors podcast, Jonathan Twombly interviews Andrew Brewer, a real estate investor and developer, about the state of the multifamily market. Why is the development market in the United States booming, and why is Austin, Texas a hotspot for development?
“The best solution I’ve found to that is to make sure that you are working with local contractors and local subs that are reputable, which is easy.”
Andrew Brewer is a real estate investor and developer and is well versed in all the aspects of land development. Andrew has a varied background in real estate and has participated in projects as an owner, developer, operator, engineer, and consultant. During his career, Andrew has acted as a construction manager on commercial reconstruction projects valued at over $12 million each, a consultant in construction defect litigation lawsuits in excess of $60 million each, an operations engineer in commercial facilities valued individually at over $200 million, and as a developer responsible for directly planning and overseeing multiple ground up development projects totaling over $160 million in assets. As an operations engineer he has executed full building turnarounds of underperforming assets leading to improved operations, lower maintenance costs, and improved resident experiences.
In this episode, you will learn the following:
>The multifamily market is local, and some markets are stronger for development than others.
>Rents are rising due to inflation and an imbalance of supply and demand.
>The biggest factor affecting developers is the volatility of material prices.
Key points
(00:01:27) Andrew’s take on the current state of the multifamily market
(00:11:25) The current labour issues in the development market
(00:14:26) How did Andrew get into real estate development initially
(00:21:46) Andrew gives an overview of one his first development deals
(00:28:27) Other projects Andrew is working on
(00:30:43) The best aspects of development work
(00:31:38) The negative sides of doing development work
(00:34:50) Andrew’s plans for the next five years with his development business
(00:37:20) How to reach out to Andrew
Reach out to Andrew Brewer
LinkedIn: https://www.linkedin.com/in/andrew-brewer-irongall-investments
Website: https://www.irongallinvestments.com/
Reach out to Jonathan Twombly
LinkedIn: https://www.linkedin.com/in/jonathandtwombly
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