Most people think you must quit your job to succeed in real estate, but Andrew Freed proves otherwise. From using a HELOC on his Boston condo to scaling 240+ units, he shows how W-2 professionals can balance careers while building wealth through multifamily, syndications, and creative financing.

📘 From W-2 to 240+ Units
Andrew started as a project manager on the W-2 path. During COVID, Rich Dad Poor Dad sparked a mindset shift. Realizing his net worth was tied to one condo, he tapped a $200K HELOC, house-hacked, JV’d into small multifamily, and expanded into syndications—growing from 30 to 240+ units in 3.5 years.
⏳ Investing While Keeping a W-2
Andrew focused on time management with 7 Habits, prioritizing urgent/important tasks and cutting wasted hours. He used his W-2 income to qualify for loans and house hacks, building bank credibility. His advice: don’t rush to quit—use your job as leverage.
🏘️ A 39-Unit Deal
In Worcester, a 39-unit portfolio projected $1.5M equity but hit turbulence when a bank changed terms, demanding a full year of reserves in escrow. Andrew pivoted to private lending, closed in weeks, and is stabilizing for a $7M refinance. Lesson: even “perfect” deals need flexibility, creativity, and strong partnerships.
💡 Rules Before Quitting Your Job

1. • Target ~2× monthly overhead—cash flow is lumpy.
   • Keep active income—flips, brokerage, lending, side hustles.
   • Don’t rush—Andrew delayed leaving his W-2; opportunities grew after, but the transition was tough.
2. 🎯 Key Takeaways
   • Start with house hacks, duplexes, or small multifamily.
   • Use your W-2 to qualify—banks value steady income.
   • Build systems early—processes save time and allow scale.
   • Delegate low-value tasks to focus on high-dollar activities.
   • Partnerships accelerate growth—bring time, money, or expertise.
3. 🧭 Coaching Round
   • For New Investors: Define goals—active (finding deals, raising capital) vs. passive (providing capital).
   • Balancing Career & Family: Double down on strengths—analysis, networking, or ops. Passion sustains energy.
   • If Starting Small: Network nonstop, join masterminds, add value via underwriting, sourcing, or raising capital.
   • Why Passive Investing Works: Steady cash flow, diversification, and tax benefits like cost segregation (consult a CPA).
4. 📚 Books
   • Mindset — Carol Dweck
   • The Hands-Off Investor — Brian Burke
   • 10x Is Easier Than 2x — Hardy & Sullivan
5. 📚 Final Thoughts
   Andrew Freed proves you don’t need to quit your W-2 to thrive in real estate. By leveraging time, systems, and partnerships, he turned a condo HELOC into 240+ units. His journey—both wins and setbacks—offers a roadmap: don’t chase job security, chase financial security.

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