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!

In This Episode We Cover:

How to use HELOCs (home equity lines of credit) to quickly fund your first real estate deal

Using the BRRRR method (buy, rehab, rent, refinance, repeat) to buy rentals for essentially $0 

The “sweet spot” multifamily properties that are easier to manage and boast big cash flow 

How to take down huge real estate deals when you don’t have the money 

Why buying portfolios of properties (not single properties) is the cheat code for faster financial freedom 

And So Much More!

Links from the Show

Join BiggerPockets for FREE

Let Us Know What You Thought of the Show!

Ask Your Question on the BiggerPockets Forums

BiggerPockets YouTube

Apply to Be a BiggerPockets Real Estate Guest

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

Get $100 Off BPCon 2025

Start with Strategy

Rich Dad Poor Dad

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

BiggerPockets Real Estate 1085 - Making $200K/Year With the Least Amount of Rentals Possible w/Dion McNeeley

Connect with Dave

Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/real-estate-1111

Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email [email protected].

Learn more about your ad choices. Visit megaphone.fm/adchoices