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b'Taylor talks to Andrew Schutsky about his journey as a real estate investor. Andrew started 15 years ago by buying a short-term rental property for his family to use as a vacation home. He then decided to take things further and scale up, researching Bigger Pockets and the multi-family space. This conversation will discuss the benefits and drawbacks of investing in short-term rentals and multi-family investments, looking at factors such as depreciation and appreciation, cash flow, landlord laws in different locations, budget for renovations, reserves for unexpected expenses, and more. Andrew will also speak about the importance of balancing real estate investing and other commitments. Finally, he\'ll talk about the need for reliable partners when investing in multi-family real estate - from referrals from people who have worked with them in the past to setting up a transparent process for asset management with one specific individual assigned as an asset manager with a consistent cadence. Join us to learn more about Andrew\'s journey and hear his advice!\\n\\n[00:01 - 06:48] Opening Segment\\n Andrew started investing in short-term rentals to have a place to take his family on vacation\\n Got into multi-family investing and now does both\\n Balances real estate investing with family commitments and professional commitments\\n The process for adding long-term multi-family into the investment process\\n Building/renting new construction or value add multi-family for passive income\\n\\xa0\\n[06:49 - 14:11] Exploring the Benefits of Short-Term Rental Investing: Lessons Learned and When to Cash In\\n Depreciation from short-term rentals has been a huge benefit\\n No taxable income on any of the short-term rentals generated so far\\n Appreciation and depreciation are two of the most significant benefits from a cash flow standpoint\\n Have an ample renovation budget, double what you expect\\n Long-term appreciation potential has been the biggest win\\n\\xa0\\n[14:12 - 19:51] Finding Your Real Estate Niche: Balancing Time Commitments, Family and Investing\\n Interest rates are still low, and property values are high\\n The right moment to cash in on these things has not dropped that much yet.\\n It is essential to be consistent with commitments and flexible when life gets in the way.\\n Know which action to take and draw out priorities to knock out tasks when time is available.\\n Focus on what you are good at or like doing, and test it out by dedicating 60-90 days to it\\n\\xa0\\n[19:52 - 26:57] The Key to Successful Asset Management in Multi-Family Deals\\n Referrals from people who have worked with potential partners in the past are vital to finding compatible partners\\n Ask questions about communication style and respect for the time when vetting potential partners\\n Having one specific individual as the asset manager is essential for clarity and success\\n Establish a regular cadence of communication with the property manager\\n\\xa0\\n[26:58 - 31:21] Closing Segment\\nBest investment: a 43-unit property in Greenville, South Carolina\\nWorst investment: a stock that was a startup pharmaceutical\\nThe most important lesson learned: don\'t try to do it all yourself and figure out what you\'re good at\\n\\xa0\\nConnect with Andrew!\\nWebsite: www.InvestwithRedline.com\\xa0\\n\\xa0\\nInvest passively in multiple commercial real estate assets such as apartments, self-storage, medical facilities, hotels, and more through https://www.passivewealthstrategy.com/crowdstreet/\\nParticipate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your terms.\\nJoin our Passive Investor Club to access passive commercial real estate investment opportunities.\\nLEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or clicking here to listen to our previous episodes.\\n\\nQuotes:\\n\\xa0\\n"There is no magic bullet. For me, it\'s all about just being consistent with your commitments and yourself and being flexible." - Andrew Schu'