How This Structural Engineer Went From Working 9-5 To Managing $33 Million In Real Estate Assets

Eric Nelson has been investing in real estate for over 10 years. Before focusing on real estate, he was a structural engineer and now, he is the Founding Principal of Wild Oak Capital, which aims to offer passive investment opportunities focusing on multi-family syndication.

Join us in this episode of the Freedom Chasers Podcast where Eric shares his experiences and techniques in real estate. Watch until the end as Eric also shares his time as a missionary and how that helped him realize his motivations and goals in life.

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Facebook: https://www.facebook.com/WildOakCapital/
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Linkedin: https://www.linkedin.com/company/wild-oak-capital
https://www.linkedin.com/in/eric-nelson-9249b6216/
YouTube: https://www.youtube.com/@wildoakcapital6049
Website: https://www.wildoakcapital.com/

Quotes
“The thing I love to highlight is it was relationship based, from the beginning to the end. It was like, even now, the guy still owns it. I still work like a block from that house so all those things were basically talking to people and being open.”

“Credit to Marie, she was like ‘Do you believe in yourself?’ I mean that’s really what I think she said. ‘Do you believe in the numbers?’, Yeah. ‘Do you believe in yourself?’, Yeah.”

“The pitch to a lot of schemes and strategies is like, ‘Oh you don’t need money, no money down, get rich quick’ that type of stuff. It turns out the best syndicators have cash available for lots of reasons but earnest money gets pretty big pretty fast on these multi-family properties. The true reason to consider selling was to have some cash in our pocket.”

“I think salespeople tend to do better because capital raising is a huge challenge. So if you’re an engineer, if you’re in the (multi-family) space, typically you’ll see them teaming up with someone very extroverted, very salesy, very open to Capital raising and I think that’s where teamwork could work.”

“All the work is really centered and focused on how much, how can I spend more time, how can I travel more with my kids.”

Concepts
Doing new things can be scary. But educating yourself through researching, reading books, and consulting with experts can help alleviate your fears and give you more confidence to do them.
Be thorough when going through deals. Always account for the worst-case scenario so when that happens you will be ready.
Real estate syndication is a method of pooling capital from multiple investors for the common goal of acquiring real estate. Investments are often syndicated in order to allow individuals to invest in properties or projects that are significantly larger than they could afford.
Having the capital without taking out loans when starting your business makes it easier and safer for you. In the worst case that your business doesn’t work, at least you won’t be needing to pay your loans after losing your business.
Partnering with people is not a bad thing. Even if you think you can do everything by yourself, finding the right partner can be extremely beneficial for both of you. You can grow faster when partnering with people and it will also bring more avenues for you to invest into.
Money is not the most important thing you need to achieve ‘freedom’, time is. With time, you can do everything you want, be it spending time with your family, traveling, enjoying your hobbies, and more.
Ask yourself why you do the things that you love. It can help uncover your true reasons behind doing them and will help you learn more about yourself and what other things you can do to find happiness and fulfillment in your life.

Time Stamps
0:00 Introduction
9:45 Jumping from small deals to a 1 million dollar deal
13:20 Closing the knowledge gap
15:50 Selling your low-interest note
18:55 Choosing your path in real estate
23:50 What are the best things about syndication in the multi-family space?
25:45 Why you shouldn’t focus only on the numbers
29:00 Your inspirations to become a businessman
33:50 The infinite why’s and uncovering the real reason behind your motivations
36:45 Vision for your real estate syndication in the next 12 to 18 months
39:10 If you had a lifetime’s worth of cash, what would you be doing with your time?
41:25 Doing charity work and giving back to humanity
43:40 Developing skills during your missionary work
48:45 ‘Going for broke’ mentality

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