We were lucky to catch up with Andrew Ramler recently and have shared our conversation below.
Andrew, thanks for taking the time to share your stories with us today If you could go back in time do you wish you had started sooner or later?
We bought our first property at the age of 22, and if I had to do it over, I would have started even earlier. The real estate industry is incredibly taxing and requires a significant amount of energy. Moreover, the growth and development process takes years, so the earlier one starts, the better. I joke that, at 35, I’m probably aging out of the industry, but every day is a new opportunity that is extremely exciting and rewarding, which keeps me going!
Great, appreciate you sharing that with us. Before we ask you to share more of your insights, can you take a moment to introduce yourself and how you got to where you are today to our readers.
I was drawn to the real estate industry as a path to work for myself and enjoy a flexible schedule. Our journey in property development began with a passion for history and a deep commitment to revitalizing our neighborhood. The first step was purchasing a 1920s fourplex; we lived in the basement and the rent from the other units covered the mortgage, allowing us to save enough to buy our next property about two years later. This industry demands immense patience, and I often describe it as a “get rich slow scheme.”
What sets Proxy apart is our dedication to sustainable development and community involvement. We are committed to creating spaces that are not only economically viable but also socially responsible. Each project is approached with a vision to enhance its neighborhood and support local communities. My favorite projects are always the ones right in front of me, especially at the beginning when we get to plan out the restoration and design of the building.
One of our most fulfilling projects is the Oak Cliff Assembly, an 18,000 square foot historic church that we transformed into a mixed-use community hub for neighbors and artists. I am particularly proud of this project because it exemplifies our commitment to preserving the historical integrity of our properties while adapting them for modern community use.
Can you talk to us about how your funded your business?
Real estate is a capital-intensive business. When we bought our first property, it cost $225,000, and we were required to bring a $45k(ish) down payment. We only had $10,000 in the bank. I brokered the deal, we borrowed some funds from my father-in-law, and my wife even sold her horse! We barely managed to close on the property. We saved half our salary’s for almost 2 years before we could buy our second property!
Learning and unlearning are both critical parts of growth – can you share a story of a time when you had to unlearn a lesson?
When we started, we were all about saving money on construction, partly because we didn’t have any money. Along the way, I met our GC, David Cervantes. He taught me so much about how and where to save money, but also that there are certain areas where you need to spend the money. Now we have a great balance of frugality and quality!
Contact Info:
- Website: https://www.proxypropertymgmt.com/
- Instagram: @ajramler
