In this episode, Chris interviews Nick Elder, a former pharmaceutical sales employee turned real estate investor, who started by purchasing properties for house hacking and then progressed to multi-family properties and syndications. Currently, Nick is a relations representative at Ironton Capital. Nick highlights the importance of networking and goal-setting in changing career paths.
Nick’s first house hack was in North Denver, a 3-bed, 2-bath property that already had two tenants paying $1,900 in rent before he even moved in. Although renting out rooms individually provides excellent cash flow, Nick notes that it can be more difficult to manage.
Additionally, after realizing the steep learning curve of the real estate market, Nick explored the private equity side and the syndication model, focusing on multi-family properties that offer greater control over valuation. He is also experimenting with passive investing, which allows individuals to leverage the expertise of building and fund operators without conducting due diligence. This frees up time to identify the right person to invest with.
Finally, through his winning mindset and flexibility to pivot to better plans, Nick built a successful career in real estate. This episode is for anyone interested in learning about house-hacking, multi-family properties, and passive investing strategies.
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Check out the podcast below!#508: Navigating Real Estate Investments After Exiting Your Business w/ Tyler Horsley
#507: Negative Impacts of Colorado 2024 Housing Legislation
#506: Demystifying TAXES for Passive Investors Guide to Real Estate Syndications
#505: First Steps: Strategies for Dealing with Financial Matters After the Death of a Loved One
#504: How to Take a Value Add Property From Mom and Pop to Major Profits
#503: Rental Trends, New Legislation, and Strategies for Landlords | Colorado Market Update
#502: How to Cash Flow through House Hacking in 2024
#501: Real Estate Development from Concept to Reality | Deal Analysis
#500: Building Generational Wealth: How to Safeguard Your Real Estate Assets for Your Kids
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#498: Should I Keep, Refi, or Sell Underperforming Rental Property at 12% ROE
#497: Top Real Estate Investing Trends in Colorado Springs & Pueblo for 2024
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#495: Diversifying Your Investments in the 2024 Stock Market ft. Denver Wealth Management
#494: From Single Mother to Real Estate Broker: The Skillsets That Got Her Over $1 Billion in Sales
#493: The Start of Bidding Wars: January Colorado Real Estate Market Updates
#492: Strategic IRA Moves: Chris Lopez Shares Why He's Shifting $276k from Stocks to Real Estate
#491: 12 years in Prison to Building a Thriving Sober Living Homes Business
#490: The Strategy Behind Scaling a Company with redT’s New CEO Vincent Deorio
#489: Are Buyers Off the Sidelines -December 2023 Colorado Market Update
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