On today’s episode Rich sits down with Eric Nelson - Entrepreneur, Real Estate Investor, Founding Partner of Wild Oak Capital, and Host of “The Real Estate Mindset” Podcast. Eric Nelson is from southwest Colorado and received a degree in Civil Engineering from Colorado State University. He is the principal of Wild Oak Capital and is actively syndicating multifamily properties. He has been investing in real estate for over 10 years, and currently has over 650 units under management, with a team or with his wife.
Rich and Eric start off by discussing the challenges of multifamily investing, Michael Blank, living off of acquisition fees, Robert Martinez’s 2023 foreclosure, what killed deals during the COVID-19 pandemic, Rich’s multifamily portfolio, debt assumptions, the benefits of over-communicating in real estate, and why asset management is important.
They then reflect on why Rich is bullish on Multifamily, struggling asset classes, analysis paralysis, doing the reps and shortcutting the path to success, Eric’s new deal in Texas with Eric Chadderdon, what Eric is doing today to respond to cap rates, Eric’s portfolio, seller carries, and the cost of capital.
Lastly, they talk about private debt funds, raising capital through 401k funds, transitioning funds from 506b to 506c, Bethany LaFlam, Eric’s first multifamily deal, Rich’s first boutique hotel deal, and Eric’s search criteria for finding multifamily deals.
Connect with Eric on Instagram: @wildoakcapital
Visit BYLTBasics.com and use code “Somers20” at checkout for 20% on your next purchase
Book a free call with Prime Corporate Services to create a business strategy primecorporateservices.com/richsomers
--
Connect with Rich on Instagram: @rich_somers
Interested in investing with Somers Capital? Visit www.somerscapital.com/invest to learn more.
Interested in joining our Boutique Hotel Mastermind? Visit www.somerscapital.com/mastermind to book a free call.
Interested in STR/Boutique Hotel Management? Visit www.excelsiorstays.com/management to book a free call.
Why "House-Hacking" Might Be the Easiest Way to Build Wealth Through Real Estate | Spencer Cornelia Pt. 1 E55
They Built an Airbnb Portfolio w/ 30+ Properties While Working Full-Time Careers | Craig Gerulski & Matt Floyd E54
How This Ex Firefighter Built an STR and Hospitality Business | Michael Porche E53
He Specializes in Ground Up Development and ADU Builds in High Density Areas | Andrew Greer E52
Chasing $10 Billion in Real Estate & Why This Cycle Will Be The Biggest Real Estate Opportunity of His Lifetime | Grant Cardone E51
He's Flipped Over 300 Houses and is the Star of HGTV's Vintage Flip | Jessie Rodriguez E50
Benefits of a Real Estate Fund & How to Mitigate Risk in Today’s Economy | Mikey Taylor Pt. 2 E49
Growing Up as a Pro Skater & How He Sold Saint Archer Brewing for $70M+ | Mikey Taylor Pt. 1 E48
This Ex-Gang Member is Now a Best Selling Author & Real Estate Investor | Dre Evans E47
Why You MUST Understand "Leverage" to Truly Build Wealth | E46
Using Seller Finance to Buy a Boutique Hotel & Tips for Buying in 2023 | Avery Carl (Mar '23) E45
Make More Cashflow with Less Headaches Using This Mid-Term Rental Strategy | Jesse Vasquez E44
Utilizing Creative Finance to Build a $300M Portfolio Using Zero of His Own Money | Pace Morby E43
She's a Top Luxury Designer & Investor Who's Using RE to Fund Her Passion For Music | Kara Beckmann E42
"The Nine Degrees of Wealth" in Real Estate | Adrian Hernandez E41
Online Business Opportunities For Leaving Your 9-5 | Douglas James E40
He's Planning to Disrupt the Way Residential Real Estate Transactions Are Done w/ this Startup Business | Brad Rice E39
She's a World Famous CrossFit Athlete Sponsored by Nike w/ 1M+ Social Media Followers and Founder of Grown Strong | Lauren Fisher E38
Transitioning from Short-Term Rentals to Boutique Hotels | TJ Tijani E37
Don't Rely on Airbnb, Build Your Own Direct Booking Platform | Mark Simpson E36
Create your
podcast in
minutes
It is Free
The emPOWERed Half Hour
NABOR® TALKS
U.S Property Podcast
Aligned Money Show
The Ramsey Show
Planet Money