21 Projects and $1.3Billion in 4 Years
In this interview, Andrew Young, the founder and CEO of NorthRock Companies, shares his journey in the real estate industry, starting from his false start in the space to building a substantial portfolio of over 6,000 units and a billion dollars in acquisitions in just a few years.
He talks about the challenges he faced and the grind he had to go through to build relationships and close deals. Young also discusses his future plans for NorthRock, which include branching into more institutional-type equity relationships, expanding into the self-storage/flex industrial space, and building a billion-dollar acquisition business in the smaller multi-family space.
Overall, Young's story is a testament to the value of hard work, determination, and perseverance in achieving success in the real estate industry.
Show Highlights:
- Andrew Young, the founder of NorthRock, shares his journey from a failed real estate venture to building a billion-dollar commercial real estate portfolio in just a few years.
- Andrew emphasizes the importance of building relationships and having a data-centric approach to commercial real estate investing.
- North Rock is focused on acquiring assets in the multifamily space and has a goal of reaching 30,000 units.
- Despite their success, NorthRock is using this time to fine-tune their processes and prepare for the next downturn, which they believe will present a buying opportunity.
- North Rock is expanding horizontally into additional verticals, including self-storage and flex industrial space, with a goal of building a billion-dollar self-storage business and another billion-dollar acquisition business in smaller multi-family space.
- Andrew highlights the importance of a flat organizational structure and an open-door policy, making himself and his team readily available to answer questions and build relationships.
đ€ Connect with our Guest:
Website: https://northrockco.com/
LinkedIn: https://www.linkedin.com/in/andrew-young-123730a/
Email: ayoung@northrockco.com
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