I Turned My Condo into a $10K+/Month Rental Portfolio (in 4 Years!)

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 21 April 2025

⏱️ 36 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

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

Transcript

Click on a timestamp to play from that location

0:00.0	This investor grew his portfolio to 25 properties and was able to quit his job in less
0:05.1	than four years by repeating the same real estate strategy over and over.
0:09.5	You do need to identify the right type of real estate investing for your goals and your market,
0:14.6	and it's totally okay if that takes some time and some trial and error.
0:18.2	But once you do that, once you have it, you can basically execute that one deal type to perfection,
0:23.5	rinse and repeat all the way to game-changing wealth.
0:26.5	Today's guests proved that this is possible in the Boston area,
0:30.1	and he did it in the current market,
0:32.0	not during that crazy pandemic era.
0:34.5	So let's find out how.
0:44.8	Hey, everyone. I'm Dave Meyer, head of real estate investing here at Bigger Pockets.
0:49.5	Today on the show, we're bringing you an investor story with Andrew Freed, who invests in Massachusetts and Rhode Island. Andrew was previously on the real estate rookie podcast back in March of
0:55.0	2023, but I wanted to bring him on this show because he's progressed a lot in the last two
1:00.6	years, but he's done it by doing pretty much the same thing. So we're going to talk to Andrew
1:06.1	about why he primarily buys rental properties in the six to 12 unit range, why almost all of his deals
1:12.3	are with two to four partners, and how he achieved his goal of quitting his day job to invest
1:17.2	full time.
1:18.4	Andrew is a total open book with all of his deals and numbers, so there's a lot to learn in
1:23.1	this conversation.
1:24.1	Let's get into it.
1:25.6	Andrew, welcome to the Bigger Pockets podcast. Thanks for being here.
1:29.0	I'm excited to be here. Thank you so much. Yeah, absolutely. And I know you've been on our
	...

Transcript will be available on the free plan in 9 days. Upgrade to see the full transcript now.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.