Episode 44: Nicholas Aalerud

Real estate investing is not always the bed of roses that those YouTube ads would have you believe. That being said, real estate investing can give you the time and financial freedom that you've always dreamed about. Nick Aalerud saw a real estate infomercial that offered freedom from his banking job that was clocking over 70 hours a week. That infomercial, however, would only be the beginning of Nick's rough-and-tumble journey through real estate. There would be many financial bruises, as Nick shared with the Passion for Real Estate Investments podcast. Nick jumped into a shady real estate deal with five houses on his first try. He learned pretty quickly why due real estate pros stress due diligence. Although it was a costly lesson, Nick turned that financial loss into gain. He built a powerfully profitable wholesaling company right after. Nick would go on to experience a new set of financial hurdles when he entered multifamily investing. This time, however, he learned his lesson. Nick developed a process to help him screen deals. With this process, Nick was not only able to recover from his previous losses; he was able to grow faster than ever. Because Nick has been through it all, his advice is full of tips and tricks that you won't hear from some of the "gurus" out there. This honest conversation is what any investor (new or experienced) needs to hear in a world of increasing infomercials, webinars, and YouTube ads that make real estate investing look like a piece of investing cake. Highlights from the Interview Why Nick left a degree in politics and a well-paying (but overworked) banking job for real estate Nicks's first BIG mistakes as an newbie active investor (and how he recovered) How Nick restarted in real estate investing without cash or credit Surviving real estate in 2006…What Nick did that taught him a big lesson Principles of Buying Right: What Nick says you should look for in a real estate partner Newbie mistakes to avoid in multi-family investing Investing in the competitive and weird post-lockdown market Creating unique marketing opportunities in a super-competitive market