One of the reasons why people are getting into real estate syndication is the opportunity to earn passive income. In this Highlights episode, we feature once again our conversations with Jens Nielsen of Open Doors Investing and Chad Hudson of Savoy Companies. They give nuggets on how you can start making passive income through syndication.
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Jens shares how he built some passive income away from his employer’s weekly paycheck by doing business on the side with syndication. He sheds light on how CRMs conveniently allowed him to do syndication while juggling two jobs. Meanwhile, Chad unravels the first step to take when jumping into real estate investing. He also talks about the benefits of having a construction and renovation business, the hardest part of the syndication process. Click the play button now and let us help you to start earning passively!
Key Points From This Episode:
- Jens talks about building a team to help him in his syndication business.
- Who was Jens’ first hire?
- What are the tasks that Jens decided to delegate to other people by hiring them?
- The systems that Jens developed to run his syndication business.
- Jens shares the CRM that they are using.
- How did Jens start in syndication?
- Chad advises those who are getting into real estate investing for the very first time.
- The benefit of having other businesses such as rentals and construction companies and at the same time real estate.
- What’s the hardest part of the syndication process for Chad?
- What are Chad’s buying criteria for multifamily properties?
- Chad talks about landlord-friendly states and how to avoid landlord unfriendly states.
- The biggest reason why people fail in real estate.
“I think it’s important when you start out, you need to learn as much as you can about all the aspects of your business, but overtime trying to leverage other people with what they’re good at. That is going to be tremendous in growing and scaling your business.” — Jens Nielsen
“One of the big things I learned early on is the idea of self-directed IRAs. I can invest in real estate, private placements, and syndications through my IRA.” — Jens Nielsen
“My passion is building and whatever the market bears, I’ll build houses if it’s needed. For personal gratitude and my family’s sake, we invest in long-term wealth building, slow growth. The greatest saying ever is, “Don’t wait and buy real estate. Buy real estate and wait.” That’s my motto.” — Chad Hudson
“You can get asked to do and spread out so many different directions that it takes away from the overall goal. For us, other than our faith and having a great family, it’s passive income.” — Chad Hudson
Links Mentioned in Today’s Episode:
About Jens Nielsen
After the success as a KP, Jens recently branched out to raising money as a GP for syndication in Atlanta where he raised $350K in a week. This is his second multifamily equity raise, the earlier raise was a JV for the 38 units property in Albuquerque. Jens is also just starting to raise money for a deal in Pennsylvania.
He has also passively invested in 12 syndications, spanning over 800 apartment units, 2000 mobile park lots, and over 6000 storage units plus mortgage note funds and done private money lending.
Jens has a long career in IT, but over the last couple of years has had a mindset shift from being an employee to an entrepreneur, which is a change for someone that grew up in Denmark.
His mission is to get more people to invest in private placements for the strong cash flow and equity growth, and his company mission is to “Open Doors to your secure financial future through multifamily investing.”
About Chad Hudson
Chad J. Hudson is the owner and founder of Savoy Companies which specializes in buying, selling, building, remodeling, and owner-financing real estate since 2000. Chad, as the sole owner of Savoy, has done over 100+ transactions, held over 30+ rental properties, and has over 700 apartments. Over the years, Savoy has moved away from Single-Family, Condos & small multi-family to passively investing in apartment syndications. Chad’s current business strategy is to continue investing in apartment syndications and move into a sponsorship role while continuing to grow his custom home business known as Savoy Builders.
Chad oversees every facet of the construction, remodel, or renovation process, including managing vendors, subcontractors, project supervisors, and updating clients. He has a keen eye for detail and is highly skilled in time allocation, cost control, and total quality management. His artistry, energy, and passion for building and rehabbing are matched only by his desire for perfection.
Chad has been professionally involved in the real estate market and development field since 2000. In addition, managing his successful construction and renovation business, Chad also owns several rental properties and holds multiple private mortgage notes for customers. For the last 19 years, Chad has split his time between his real estate development company and the family business which provided private lending to individuals for car loans. After selling the family business in 2016, Chad now focuses solely on Savoy Companies. Chad seamlessly uses his knowledge and expertise in private lending to assist qualified individuals who are looking to purchase a house or a piece of property.
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