In this episode of the Alchemist Nation Real Estate podcast, I talk to Andrew Schutsky who is a dad with 94 units and growing. I wanted to know how he got into multifamily investing in Pennsylvania. He says that he will take me back plus the listeners of this podcast where it all started as a house hack when nobody knew a house hack in 2007 where he bought a single-family and he was on the road for 50 weeks a year. He realized that he was wasting 80% of space in his house and he was like let him try to push some cash in his pocket by renting it out and covering all the expenses is where real estate investing started for him. He started with a house hack in 2007 and from there he continued with a series of single-family rentals, got into short-term rentals and he looked to scale back. He says that I can relate and everyone else can relate, the down payment, all the work you put into a single family, the rehab, the tenants in and out continuously which is a lot of work. If you're trying to scale like 10 properties and you look at making offers on short properties and short-term rentals, it is a lot of cash outlets. So he knew there was a better way, so he started looking for a way and that is where he found bigger pockets and he went full tilt. It was mid-way through 2020 where he connected with his old broker friend of his that he worked within consulting and he had been in the real estate for probably eight or nine years. He asked his friend, Doug, what was the secret in real estate investing. He told him there is a reason in this business and it is the same I left a high-paying job. He started picking up his brain and he went through 20 - 30 books through a 2 - 3 months period where he hired a mentor, joined the mastermind. On top of this, he was working 50 hours a week with his wife traveling and also having launched a podcast though it has been an exciting journey to him.
Andrew offers 3 pieces of advice to 20-year-old Andrew on how to get where he is faster, happier, and richer.
1) - Invest your money in multi-family real estate.
2) - Take care of yourself, reward yourself with trips, spend your time with friends and family.
3) - Relentless education.
To learn more check out the blog and podcasts at http://www.GualterAmarelo.com
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[email protected]/ or visit https://www.investwithredline.com/
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