803: Building a $1.8M Real Estate Portfolio by Outsourcing Your “Weaknesses” w/Andy Gil

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 10 August 2023

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Want to build a million-dollar real estate portfolio? We’ve got good news for you! You DON’T have to rush full-steam ahead, buying every property that crosses your path to reach financial freedom. That’s right, instead of buying dozens of units a year, you can buy a dozen units within a couple of decades, taking the slow, steady path to building wealth instead of ferociously racing to rack up as many rentals as possible. While it may sound like every real estate investor is constantly on a buying spree, this is far from the truth. Investors like Andy Gil have been able to build seven-figure real estate portfolios without sacrificing time with family or infringing on their morals to make more money. Far from it, actually; Andy is outwardly trying to make it easier for often neglected renters to find a safe place to stay. Through the past two decades, Andy has been building his rental property portfolio up to the twelve units it is today. He never thought he would be the person to buy a house, let alone own a rental portfolio. Still, thanks to his differences that make him a superhero in aspects most investors would dread, he’s built serious wealth without sacrificing what’s important. In this episode, you’ll hear precisely how Andy did it, his “T-Rex” policy that entices renters, outsourcing your weaknesses, and using your differences to build wealth. In This Episode We Cover: Andy’s “T-Rex” rental policy that leads to low vacancy and a steady stream of passive income Outsourcing your weaknesses and why you MUST know what you don’t do well Buying a “fractured condo association” and why Andy is all-in on this uncommon asset class Taking obstacles and turning them into opportunities along your investing journey How multifamily real estate investors can prepare for an upcoming wave of vacancies Why unit count DOESN’T matter, but the wealth in those units does! And So Much More! Links from the Show Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram David’s YouTube Channel Work with David Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube A Slow, Steady, and Sustainable Way to Buy Rentals The Ultimate Guide to Adding Systems & Outsourcing to Work Less in Real Estate Going Into Multifamily When You’re Fairly New to Real Estate Connect with Andy: Andy's BiggerPockets Profile Andy's Instagram Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-803 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

Transcript

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0:00.0	This is The Bigger Pogas Podcast, show 8-0 to we go.
0:04.4	I want to cross the 1 million mark in the next two to three years by my personal financial statement.
0:08.8	I didn't think that something like this was available to a person like me,
0:11.8	but I didn't think I could get in the game.
0:13.3	And honestly, if it's available to me, if a guy like me can be doing this really,
0:18.4	you know, if you just add on one skill at a time, develop the skill, developing skills,
0:23.2	you know, I feel like I'm almost anything to do this.
0:25.7	It's going on everyone. It's David Green, your host of The Bigger Pogas Real Estate Podcast.
0:29.9	Here today with my co-host Rob Abisolo looking even more handsome than usual.
0:34.4	If you guys are not following on YouTube right now, you are missing out.
0:38.2	Or maybe you're not. The distraction might be so great.
0:40.2	It's going to stop you from getting your key performance indicators done.
0:43.1	So maybe listening on Apple Podcast or Spotify is going to be better for your productivity.
0:48.9	Today's show fantastic.
0:51.8	We get into it with Andy Gill, who is a real estate investor who has slowly built a portfolio
0:57.3	based off his strengths, not his weaknesses, at a pace that he is comfortable with.
1:02.9	And has overcome some challenges that he had early in life and is very open and authentic
1:07.1	about sharing what those were like that many of you listening may relate to.
1:11.1	So before we get into this any further, I just like all of you to consider leaving us a comment
1:16.3	on YouTube and letting us know if you can relate to anything that Andy Rob or I shared about
1:20.9	personal struggles we have that has stopped us from being successful in business
1:24.4	and how we overcame them. Trust me, you are not the only person.
	...

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