I Started with 1 Condo: Now I Make $10K/Month Off Rental Properties | Bigger Pockets Video

Episode #1111

Try REsimpli, The Only All-In-One Real Estate Investor CRM Software That Helps You Manage Data, Marketing, Sales, and Operations:
link

Get Fully Customizable Insurance Coverage for All Phases of Occupancy on One Monthly Schedule and Bill with NREIG:
link

Get $100 Off Your Ticket to BPCon 2025!
link

Episode Show Notes:
link

Join BiggerPockets for FREE 👇
link

Let Us Know What You Thought of the Show!
link

Grab Dave’s Book, “Start with Strategy”:
link

Sign Up for the BiggerPockets Real Estate Newsletter:
link

Property Manager Finder:
link

Real Estate Rookie 267 - 24 Units in 2 Years by Making Your Rentals Match the Market w/Andrew Freed:
link

Connect with Andrew:
link

Connect with Dave:
link

Andrew Freed turned one condo into a rental property portfolio that makes him $10,000 per month! Just four years ago, Andrew had little to his name—around $50,000 and a $200,000 condo. That’s what a decade of working had gotten him, but to Andrew, it was a sign he wasn’t doing enough. Like most real estate investors, Andrew stumbled upon "Rich Dad Poor Dad" and made an immediate change that would propel him to financial freedom. Four years later, he’s there—quitting his job and going full-time into real estate.

How did he do it? Simple. “Recycling” his money is what allowed Andrew to scale so quickly. A HELOC (home equity line of credit) on his condo gave him the money for his first small multifamily—a house hack that would help him live for free. With each new property, he’d get a new HELOC and use it to grow his portfolio even faster.

Now, Andrew has a sizable real estate portfolio, personally paying him six figures a year, while he focuses on the next property. If you want to quit your job and give real estate your all, you can do what Andrew did, recycling your money to build your wealth—and you can start with just a condo!

0:00 Intro
1:25 The American Dream “Mirage”
3:09 First Deal (Triplex)
6:41 Scaling to 20+ Units with HELOCs
10:16 Sponsor: REsimpli!
10:56 BRRRRing to 35 MORE Units!
17:36 BPCON Marketing
17:36 Get $100 Off BPCon Tickets!
18:42 The Rental “Sweet Spot”
22:41 Quitting His Job and Current Income
27:50 Goal - Work 2 Hours a Day!