MB303: How to Balance Multifamily with a Demanding W-2 – With Andrew Schutsky

Can you be successful in real estate investing and successful at a demanding job at the same time?  Andrew Schutsky serves as the CIO of a $700M medical technology company. He also happens to be the founder of multifamily syndication firm Redline Equity and host of The Crushing Cashflow Podcast.  Andrew has 14 years of real estate rental experience but didn’t enter the multifamily space until last year. Since then, he has built a portfolio of 1100 units! On this episode of Financial Freedom with Real Estate Investing, Andrew joins cohost Garrett Lynch and me to explain how he built a real estate business while working an executive level W-2 job.  He describes how he networked into his first deal and offers advice on finding a partner who complements your strengths.  Listen in for insight on the strategy of time budgeting and find out how Andrew is making time for his family, his full-time job and financial freedom. Key Takeaways  What inspired Andrew’s interest in real estate Want to make best use of money  Realized could replace income later Andrew’s shift to multifamily Came across blog of local syndicator Networked into first deal Andrew’s advice on finding a partner Share criteria, e.g.: 50- to 125-unit deals Align objectives and values  How Andrew balances real estate with his W-2 Devote 15 to 20 hours/week  Work in 5 to 7AM window Andrew’s strategy of time budgeting Decide how to spend time, audit often Break down to align with goals How Andrew makes time for his family Sacred window from 7 to 9PM Wife holds accountable if off track Andrew’s morning routine Read 20 pages or listen to podcast Meditation or 15-minute workout How Andrew stays on track to reach his goals Join/create accountability groups Post goals and track progress How Andrew thinks about his W-2 job Can't control what will happen Option to exit in 2 years What financial freedom means to Andrew Cover expenses with passive income Spend 40 on family and passions Andrew’s advice to aspiring investors Find fun in chaos Be ruthless in how invest time Focus on your strengths Connect with Andrew Schutsky Redline Equity Redline...