BiggerPockets Real Estate Podcast I Turned My Condo into a $10K+/Month Rental Portfolio (in 4 Years!)
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Apr 21, 2025 Andrew Freed, a real estate investor who turned a single condo into a lucrative portfolio, shares his journey from just $50,000 to earning over $10,000 a month in four years. He emphasizes the power of recycling money through strategies like HELOCs and the BRRRR method. Andrew discusses the advantages of investing in multifamily properties and highlights the importance of selecting the right markets. His insights into mentorship, strategic upgrades, and effective management offer valuable lessons for aspiring investors.
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Starting With One Condo
- Andrew Freed began with a $200,000 condo and $50,000 savings after 10 years.
- He took a HELOC on the condo to start buying multifamily properties in Worcester, MA, uprooting his life to build his portfolio.
Leverage HELOCs Early
- Use a HELOC on your primary residence to access equity before it converts to an investment property.
- HELOCs can provide up to 85-100% of the home's value and allow you to recycle capital faster.
HELOC Benefits Explained
- Consider a HELOC to preserve low mortgage interest rates while borrowing funds for more properties.
- HELOC interest is only paid on used funds, making it cost-effective for renovations and scaling.
