
Episode #124
Ep 124 - From Idea to Execution: Build to Rent Development Through Market Headwinds with Andy McMullen & Abel Pacheco
What this episode teaches an operator: how a build to rent developer leads through construction setbacks, rising rates, and regulatory delays, and which under-used programs (grants, tax credits, opportunity zones) operators leave on the table. Andy McMullen, founder and managing partner of Legacy Acquisitions, is back for his second show. He and Abel Pacheco go inside The Crest, their partnered 98-unit build to rent community in Lafayette, Louisiana: rain delays, the water quality board, and why build to rent holds up in this rate environment as the affordability gap widens the renter pool. Then the operator's core: leading through adversity, Legacy's values, and stress-testing underwriting when the market turns. In this episode: What setbacks hit The Crest and how were they handled? Why does build to rent fit a high-rate market? How wide is the renter pool getting as affordability slips? Which government grants, tax credits, and opportunity zone programs do operators overlook? How do you build a team that holds under pressure? Three takeaways: the renter pool grows every month the affordability gap widens. Secondary and tertiary markets hide funded programs most operators never claim. Adversity is where a team's real values show up. "For the man who does not know where he's sailing, no wind is favorable." - Andy McMullen, quoting Seneca via his mentor Connect with Andy: Legacy Acquisitions. Abel Pacheco helps operators get the ideas out of their head and into an AI operating system that runs the business, so one operator can run like a team of five. If you're ready to install it, not just learn it: www.5talents.ai. Multifamily investors: www.5talents.ai/multifamily. Host of the 5 Talents Podcast.

