Andrew Freed

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.

Twenty-four rental units in two years! It’s possible, but only if you’re using the same principles that today’s guest has employed. With house hacking, HELOCs, the 80/20 rule, and a few more strategic investing moves, you too could fast-track your path to financial freedom. If you want to build your dream real estate portfolio without sacrificing decades in the process, these strategies will help you do it!For Andrew Freed, a full-time project manager, real estate agent, and investor, these strategies have been life-changing. And even if you’re still a real estate rookie, you can do exactly what Andrew did to reach the same results. Thankfully, Andrew’s investing methods, tips, and tricks are well-rounded, well-developed, and easy to follow.In this episode, Andrew walks us through how he managed to buy twenty-four units in two years, the moment the gears started turning in his mind, his personal development process, and the key principle that keeps him focused on his goals. Andrew also gives us his best advice for predicting and preventing problems in your rental properties, stabilizing, and raising the rent. From gaining the confidence to get started to finding investment partners, he offers valuable, step-by-step guidance we can all learn from.In This Episode We CoverThe 80/20 principle and using it to cut out the unnecessary when investingHow focusing on personal development first can make you a better investorStaying focused and getting to your goals fasterHow to manage your rentals while working a full-time jobThe key to gaining confidence and going after your dreamsThe fastest ways to grow and scale your investment portfolioTips for predicting and preventing problems and stabilizing rental propertiesEmploying the "binder method" to set rent with inherited tenantsUsing real estate meetups to find mentors and investment partnersAnd So Much More!Links from the ShowFind an Investor-Friendly Real Estate AgentAshley's InstagramTony's InstagramAirbnbReal Estate Rookie Facebook GroupReal Estate Rookie PodcastThe Real Estate PodcastMLSBiggerPocketsapartments.comBiggerPockets ForumsReal Estate Rookie Youtube ChannelSimple Steps to Start, Scale, and Grow a Real Estate Business in 2023The Rookie’s Guide to 2023 Goal Setting: How to Achieve HUGE Goals This YearBooks Mentioned in This Episode:Rich Dad Poor Dad by Robert T. KiyosakiThe Miracle Morning by Hal ElrodThe Compound Effect by Darren HardyConnect with Andrew:Andrew's BiggerPockets ProfileAndrew's LinkedInAndrew's InstagramAndrew's FacebookCheck the full show notes here: https://www.biggerpockets.com/blog/rookie-267Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Andrew Freed, founder of a $10M rental property business, shares how he built his real estate portfolio using popular strategies like house hacking. He discusses his mentor's influence and gives coaching advice. Topics include the role of self-reliance, time management, self-education, financing options, and lessons from a real estate failure.