054: The Power of Cashflow in Turnkey Real Estate Investing

 

Today, it is my pleasure and privilege to talk with, fellow mastermind group member (and fellow “phone book celebrity”), Nick Aalerud. Nick talks candidly about his reset stories, the lessons he learned from them, turnkey real estate deals, and the importance of stress-testing the deal. He also talks about his book, Don’t Quit: Stories of Persistence, Courage, and Faith; all of the profits from which go to charity.

Minute Markers:

00:23 – Introduction 

02:16 – A little about Nick and his background in real estate

05:37 – Nick’s first hard reset button

08:38 – Where to find cash flow deals/cap rates

12:00 – Multi-family flip/bird strategy

15:09 – Nick’s second hard reset and the lesson learned after

17:11 – Nick’s other real estate investments and business

18:12 – Nick on bigger assets

24:15 – Don’t believe the hype

26:42 – “Don’t Quit: Stories of Persistence, Courage, and Faith” book

28:34 – How to get in contact with Nick

29:28 – Thank you for listening to the Big Mike Fund Podcast

Quotes:

08:05 – I certainly agree with you to do the due diligence learning, to do the due diligence is the absolute key. And owning your own failures or successes is important. An indomitable spirit, you fall, you get up. That’s another key lesson so, it makes a lot of sense. I appreciate your sharing. It’s not easy to share, but it shows you’re not afraid to share even failures, which is a sign of strength.“.” – Mike Zlotnik

14:44 – “And small assets. They’re not necessarily bad assets at all. In fact, they’re great assets. It’s much easier to manage a small renovation than a big project. The exit happens to take place a whole lot faster.” – Mike Zlotnik

06:51 – “Learning to do my own due diligence with partnerships, learning that also taking ownership. I spent 6–9 months being just angry at this other person, other individual. I really couldn’t let it go until someone told me. It was actually Marshall Sylver, the national hypnotist, you might know him. He basically just said, “Own it. This was your failure. No matter what he did, you went through with it. You didn’t do enough due diligence. Why buy out of state your first five deals. Just own it, you made this mistake.” Once I own that for myself, it really helped propel me forward to sharpen my pencil.” – Nick Aalerud

26:35 – “Stress test the deal. I’m sure, I know you do that too. Stress test every deal, 100%.” – Nick Aalerud

Resources:

Nick Aalerud, Facebook

AA Real Estate Group, website

Nick Aalerud, LinkedIn

Don’t Quit: Stories of Persistence, Courage and Faith, Amazon

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