Financial Freedom with Real Estate Investing MB303: How to Balance Multifamily with a Demanding W-2 – With Andrew Schutsky
Can you be successful in real estate investing and successful at a demanding job at the same time?
Andrew Schutsky serves as the CIO of a $700M medical technology company. He also happens to be the founder of multifamily syndication firm Redline Equity and host of The Crushing Cashflow Podcast.
Andrew has 14 years of real estate rental experience but didn’t enter the multifamily space until last year. Since then, he has built a portfolio of 1100 units!
On this episode of Financial Freedom with Real Estate Investing, Andrew joins cohost Garrett Lynch and me to explain how he built a real estate business while working an executive level W-2 job.
He describes how he networked into his first deal and offers advice on finding a partner who complements your strengths.
Listen in for insight on the strategy of time budgeting and find out how Andrew is making time for his family, his full-time job and financial freedom.
Key TakeawaysWhat inspired Andrew’s interest in real estate
- Want to make best use of money
- Realized could replace income later
Andrew’s shift to multifamily
- Came across blog of local syndicator
- Networked into first deal
Andrew’s advice on finding a partner
- Share criteria, e.g.: 50- to 125-unit deals
- Align objectives and values
How Andrew balances real estate with his W-2
- Devote 15 to 20 hours/week
- Work in 5 to 7AM window
Andrew’s strategy of time budgeting
- Decide how to spend time, audit often
- Break down to align with goals
How Andrew makes time for his family
- Sacred window from 7 to 9PM
- Wife holds accountable if off track
Andrew’s morning routine
- Read 20 pages or listen to podcast
- Meditation or 15-minute workout
How Andrew stays on track to reach his goals
- Join/create accountability groups
- Post goals and track progress
How Andrew thinks about his W-2 job
- Can't control what will happen
- Option to exit in 2 years
What financial freedom means to Andrew
- Cover expenses with passive income
- Spend 40 on family and passions
Andrew’s advice to aspiring investors
- Find fun in chaos
- Be ruthless in how invest time
- Focus on your strengths
Connect with Andrew Schutsky
Email andrew@investwithredline.com
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