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

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

FromBiggerPockets Real Estate Podcast


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

FromBiggerPockets Real Estate Podcast

ratings:
Length:
62 minutes
Released:
Aug 10, 2023
Format:
Podcast episode

Description

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
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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
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Released:
Aug 10, 2023
Format:
Podcast episode

Titles in the series (100)

Imagine you are friends with hundreds of real estate investors and entrepreneurs. Now imagine you can grab a beer with each of them and casually chat about failures, successes, motivations, and lessons learned. That’s what The BiggerPockets Podcast delivers. Co-hosted by Brandon Turner and David Greene, this podcast provides actionable advice from investors and other real estate professionals every week. The show won’t tell you how to “get rich quick” or sell you a course, boot camp, or guru system; instead, the BiggerPockets Podcast will give you real strategies that work for real people. Start listening and join the over one million members who are learning to invest so they need Bigger Pockets! Visit biggerpockets.com, and follow Joshua Dorkin @jrdorkin, Brandon Turner @BrandonAtBP and David Greene @DavidGreene24.