Opportunity sometimes knocks in the most unexpected circumstances. In this episode, we speak to Eric Nelson, CEO of Wild Oak Capital, and he shares how he was able to buy his first multifamily property by just walking around his neighborhood.
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Eric talks about how important it is to gain the trust of the person you are dealing with, as well as build a relationship with them. He also talks about overcoming the limiting beliefs and how getting his wife onboard in their real estate business is a good move. Tune in now and learn a lot about Eric’s experience!
Key Points From This Episode:
- Eric talks about his latest real estate deals.
- Eric shares how he was able to purchase his first multifamily property.
- How does trust play a part in getting a deal done?
- Eric shares that he was able to purchase another property by just asking the owner.
- Why you should always be on the lookout for a good deal?
- Why is it important to build relationships?
- What are the sacrifices Eric had to make to be able to close his first deal?
- Eric’s “giant” mistake: not communicating with his wife about his plans.
- What’s next for Wild Oak Capital?
- Why does having your “why” make all the difference in your business?
- What’s keeping Eric from scaling?
- How does attending a Mastermind is advantageous for real estate investors?
- How does Eric like to give back?
“Don’t be afraid to hear “no.” You’re not gonna offend anybody.” [0:10:24]
“There are ways to basically make financing work at almost any number.” [0:13:20]
“You just don’t know what you don’t know, first. And then, there are limiting beliefs. I actually laid awake at night about buying that six-plex. I was like “Oh, a million dollars. Oh my gosh. What am I doing?” And I even called friends and mentors. I’m like, “Am I doing the wrong thing here?” And everyone I talked to said, “Oh you sounds like you have a good plan and you know, worst-case scenario, you default.” [0:14:04]
“Express your vision and include your family.” [0:18:05]
Links Mentioned in Today’s Episode:
About Eric Nelson
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 looking for partnerships and syndication opportunities. Eric’s passion for real estate is evident. He has been investing in real estate for over 10 years, and currently owns over 4 million dollars worth of real estate with his wife. Eric also co-owns a successful engineering company in Colorado. With his background, Eric excels at underwriting, project management, investor communication, and asset management. Eric loves the outdoors and enjoys spending time with his wife and 2 young boys.
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