If you’re looking to scale your real estate investing and build a life of financial freedom, this episode is a must-listen. I sat down with the incredible Mandy McAllister to discuss her journey from medical device sales to full-time multifamily investor. Mandy shares her path to financial independence, how she discovered the power of mid-size multifamily properties, and the systems she’s used to scale her portfolio. If you’re an investor looking for practical insights, strategies, and the mindset shifts necessary for success, you won’t want to miss this conversation.
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Hey everyone, welcome back. I am Adrienne Green and today we have with us the amazing Mandy McAllister. Thank you so much for joining me, Mandy.
So excited to be here, Adrienne.
We are going to have so much fun. I have known Mandy for years. She brought me into GoBundance Women, an awesome organization that has helped me scale my business opportunities, real estate investing, and ultimately create a life where I can travel all the time. Mandy was one of those important dominoes that set everything in motion. I’m so excited for her to share her story about her transformation, journey with multifamily investing, and expertise in community and networking. So guys, buckle up, pay attention, and let’s learn. Mandy, let’s start with your background. How did you get here? What did you do before real estate and what are you doing now?
Sure. I grew up a farm kid in a town of a thousand people and just got curious. I started asking at a young age, “Why not me?” That audacity isn’t common in small towns. I ended up getting a volleyball scholarship, then moved into medical device sales, which was the bulk of my career. I chose not to go to medical school because I didn’t want to be on call. Then, ironically, I ascended the ladder in medical device sales only to end up on call anyway. The universe has a sense of humor, right?
Around the same time, I had been curious about real estate investing but never got over my fear to buy a property just for investment. Then, I realized that despite structuring my career to avoid being on call, I was on call anyway. Meanwhile, I had started investing in real estate and saw income coming in without actively working for it. After a panic attack in a parking deck, I had a moment of clarity—this life wasn’t for me. The constant chase of hitting bigger numbers just to maintain the same income wasn’t sustainable. But if I scaled something for myself, I could double or triple my income. That’s when I decided to lean into real estate investing, figure out how to scale, and buy my way out of my W-2.
That’s amazing. First, that you had real estate in place, and while I’m sure that parking deck panic attack sucked, it was a turning point that pushed you out of your comfort zone. So what did it look like to transition from a casual real estate investor to scaling in a way that replaced what was probably a solid income?
The first step was realizing that this is just a math problem. I needed enough dollars coming in to live my life. I did the math and saw I could solve this problem. When you add truth to a problem, it becomes easier to solve. Math is the ultimate truth. At that point, I had a four-plex and a six-plex, which immediately showed me the power of scale.
Being around others buying bigger properties, I saw the advantages of going larger. Some people in my network were syndicating 400-unit properties, but that felt like a job. I didn’t want another job—I wanted properties that would pay me every month, forever. I call that forever money. I found a couple of partners and started buying 30- to 50-unit properties. These properties are in a Goldilocks zone—too big for mom-and-pop investors, too small for institutional investors. That’s where the opportunity is.
Another benefit of scaling to mid-size multifamily is the ability to have on-site management, which is a game-changer. You also get access to agency debt—government-backed, non-recourse loans from Fannie Mae and Freddie Mac. Non-recourse means I’m not personally liable if a deal goes bad. It felt like the right combination of stability and scale. I also realized that buying a 30-unit property isn’t harder than buying a four-unit property—it’s just more. Once I internalized that, I focused on treating real estate like a business.
I love that. What were some of the key systems and strategies that helped you scale?
One of the biggest shifts was getting comfortable with failure. As high-achieving women, we’re often taught to be perfect, but perfectionism holds us back. We need to fail forward. A book that really helped me with this was The Psychology of Money, which is why we include it in the GoBundance Women Welcome Pack.
On a tactical level, the first step in my systematic approach was picking a market. If you become an expert in one area, you can spot deals instantly. You know which side of the highway has better rental demand, what areas are appreciating, and where value-add opportunities exist. If you’re looking at too many markets, you won’t develop that expertise. Getting clear on my buy box—location, property size, and unit mix—helped me source better deals and communicate exactly what I was looking for to my network.
That’s great advice. Do you think any market can work, or should investors focus on specific characteristics?
The question I always ask is, “Will someone want to rent this property in 30 years?” I look at population trends, job growth, and GDP. For example, Illinois has been shrinking in population for over a decade, so I sold all my properties there and focused on Indiana, where people and businesses are moving. I also invest in Louisville, Kentucky, because of strong job growth and business-friendly policies.
At the same time, I don’t think you need to be in just one market forever. My first larger investment was in Kenosha, Wisconsin, based on expected job growth. When that didn’t pan out, I pivoted. You can master one market, execute a deal, and then reassess whether you want to double down or explore another area.
What’s your long-term strategy? Are you holding these properties forever, or do you have a different exit plan?
My ultimate goal is to have a floor of income—$80,000 per month in passive cash flow. To get there, I focus on buying stabilized assets with long-term debt. These properties act like annuities, providing steady income. However, acquiring them requires capital, so I also do one-time money activities—flipping properties, repositioning assets, or selling businesses—to generate the cash needed for long-term investments.
I love that strategy. What’s next for you?
I recently experimented with buying a car wash as a business investment. It cash flows but requires too much hands-on work, so I plan to sell it and reinvest in real estate. I also repositioned a motel into a profitable short-term rental business, and I expect to double its value by the end of the season. Once I sell, I’ll 1031 exchange into more multifamily properties.
Community has played a huge role in your journey. Can you talk about how GoBundance Women has impacted you?
Being around high-achieving women has been life-changing. GoBundance Women is a tribe of healthy, wealthy, generous women who choose to lead epic lives. The accountability, support, and exposure to new ideas have been invaluable. I wouldn’t have invested in a motel if I hadn’t been around successful short-term rental investors. When you surround yourself with people doing bigger things, your mindset shifts, and what once seemed risky becomes achievable.
If someone is interested in GoBundance Women, what’s the next step?
Go to gobundancewomen.com and apply or join our newsletter for mindset and success tips. If you’re an accredited investor looking to level up, this is the community for you.
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