Quitting Corporate to Build a 23-Unit Rental Property Portfolio

When building a rental property portfolio, there’s not much of a limit on how high you can go.
While some careers have a capped amount of opportunity, real estate encourages constant advancement. Today’s guest, Gus Ofili, began his investing journey after the pandemic and now has nine properties with twenty-three units.

Gus turned to real estate after deciding to leave his nine-to-five at a bank. He didn’t hate his job, in fact, he was doing very well, but there wasn't adequate room to grow. Gus started realizing he was getting passed up on opportunities by people who dedicated at least a decade of their life to the bank. He couldn't see himself taking ten years of his life for a career milestone—so he quit.

Initially, real estate intrigued Gus because of the thrill he got from negotiating. He started taking classes to become a realtor while working his nine-to-five. As an agent, he sold fifty homes in his first year, seventy-one in his second, and 108 in his third year. While he did exceptionally well as a realtor, he wanted a backup plan and knew investing would be a fundamental part of his real estate career. He had the opportunity to sell a five-unit house, but when the first appraisal fell through, he began to see potential in the home, decided to buy it, and as the saying goes—the rest is history.

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Join the Real Estate Rookie Facebook Group:
  / realestaterookie  
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10 Tips For Leaving Your 9-5 & Adjusting to Life as an Entrepreneur:
https://www.biggerpockets.com/blog/20...
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5 Tactics to Overcome Fear and Start Investing NOW:
https://www.biggerpockets.com/blog/ov...
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How Investors Can Harness the Good in Social Media:
https://www.biggerpockets.com/blog/re...
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Follow Gus’ Journey on Instagram:
@gusofilirealestate or   / gusofilirealestate  
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Connect with Gus on Facebook:
@gusofilieradawson or   / gusofilieradawson  
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Connect with Ashley and Tony on BiggerPockets:
Ashley: https://www.biggerpockets.com/users/e...
Tony: https://www.biggerpockets.com/users/t...

Episode 201

Show notes at: https://www.biggerpockets.com/blog/ro...

00:00 Intro
10:05 Leaving Corporate America to Pursue Real Estate
13:19 Current Portfolio & Getting Exposure Through Social Media
21:07 The Transition to Investing & His First Deal
31:21 Becoming a Leasing Agent
35:46 Scaling From Five Units to Twenty-Three
41:37 His Unique Property Management Approach
44:39 Rookie Deal Review
55:42 Rookie Request Line
59:50 Rookie Exam
01:02:24 Rookie Rockstar

#biggerpockets #realestaterookie #ep201