803: Building a $1.8M Real Estate Portfolio by Outsourcing Your “Weaknesses” w/Andy Gil
BiggerPockets Real Estate Podcast
The Importance of Detail in Life
"At this stage in my life, I really could give a rat's ass what anyone thinks about me," he says. "I'm like a 30,000 foot level from so many things that I need the people like you."
Want to build a million-dollar real estate portfolio? We’ve got good news for you! You DON’T have to rush full-steam ahead, buying every property that crosses your path to reach financial freedom. That’s right, instead of buying dozens of units a year, you can buy a dozen units within a couple of decades, taking the slow, steady path to building wealth instead of ferociously racing to rack up as many rentals as possible.
While it may sound like every real estate investor is constantly on a buying spree, this is far from the truth. Investors like Andy Gil have been able to build seven-figure real estate portfolios without sacrificing time with family or infringing on their morals to make more money. Far from it, actually; Andy is outwardly trying to make it easier for often neglected renters to find a safe place to stay.
Through the past two decades, Andy has been building his rental property portfolio up to the twelve units it is today. He never thought he would be the person to buy a house, let alone own a rental portfolio. Still, thanks to his differences that make him a superhero in aspects most investors would dread, he’s built serious wealth without sacrificing what’s important. In this episode, you’ll hear precisely how Andy did it, his “T-Rex” policy that entices renters, outsourcing your weaknesses, and using your differences to build wealth.
In This Episode We Cover:
Andy’s “T-Rex” rental policy that leads to low vacancy and a steady stream of passive income
Outsourcing your weaknesses and why you MUST know what you don’t do well
Buying a “fractured condo association” and why Andy is all-in on this uncommon asset class
Taking obstacles and turning them into opportunities along your investing journey
How multifamily real estate investors can prepare for an upcoming wave of vacancies
Why unit count DOESN’T matter, but the wealth in those units does!
And So Much More!
Links from the Show
Listen to All Your Favorite BiggerPockets Podcasts in One Place
Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts
Get More Deals Done with The BiggerPockets Investing Tools
Find a BiggerPockets Real Estate Meetup in Your Area
A Slow, Steady, and Sustainable Way to Buy Rentals
The Ultimate Guide to Adding Systems & Outsourcing to Work Less in Real Estate
Going Into Multifamily When You’re Fairly New to Real Estate
Connect with Andy:
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-803
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