Hello, Small Axe community! My name is Nico, and I’m here to help you use your small axe to build your personal empire. Today, I’ll be sharing my incredible journey of acquiring 194 apartments in just 12 months, along with a five-step framework to help you achieve similar success. This post will offer raw, behind-the-scenes insights to guide you in building your own multifamily portfolio. Let’s dive in!
### Step 1: Realization
The first critical step is realizing you can’t do it alone. Multifamily real estate is a team sport. Even if you have the capital, managing large ventures solo—especially without prior experience—is a daunting task. You need partnerships and collaborations to succeed.
**My Background:**
I started my real estate journey at the end of 2019. Initially, I considered buying small properties like duplexes with my brother and friends in New York. However, as I learned more about the potential in larger multifamily buildings, I pivoted. Through conversations with mentors and professionals, I understood the scale and complexity of these projects, which led to my crucial realization: I needed a team.
### Step 2: Education
Education is a continuous process. To succeed, you must immerse yourself in learning through books, workshops, podcasts, and courses. The more you understand the intricacies of real estate, the better equipped you’ll be to navigate the challenges that arise.
**My Approach:**
In the early months, I dove headfirst into learning. I attended workshops, joined meetup groups, and consumed countless podcasts. This relentless pursuit of knowledge laid the foundation for the rapid progress I would later experience.
### Step 3: Mentorship
Mentorship and coaching are indispensable. Having someone who has walked the path before you can make all the difference. There are many mentorship programs in the industry, so take your time to choose one that aligns with your goals. Interview potential mentors, read testimonials, and make an informed decision.
**My Experience:**
I joined the Jake and Gino community and later the “Make It Happen” Mastermind. My mentors provided personalized guidance, helping me underwrite deals, stay focused, and take actionable steps toward my goals. Their expertise was crucial in my development and eventual success.
### Step 4: Networking
Networking is essential in multifamily real estate. Be genuine in your interactions and aim to build authentic relationships. Through networking, you’ll find partners, team members, and important contacts like attorneys, insurance brokers, and real estate brokers.
**My Networking Journey:**
At first, I was shy and hesitant to network. But I pushed myself to connect with like-minded individuals. Being part of the Jake and Gino community helped me build valuable relationships that fostered partnerships and opened doors to opportunities I would have never discovered on my own.
### Step 5: Take Action
Education and networking mean little if you don’t take action. You must step out of your comfort zone, take risks, and seize opportunities when they come.
**My First Deal:**
In December 2019, after months of learning and networking, I attended a conference in Atlanta, Georgia, and began making offers. By November 2020, I joined a team and closed on a 194-unit apartment complex in Columbus, Ohio. Thanks to the support and encouragement from my mentors, I took bold, decisive action, which led to remarkable success within a year.
### Conclusion
To summarize, here’s my five-step framework for achieving success in multifamily real estate:
1. **Realization**: Recognize that you need a team.
2. **Education**: Continuously invest in your learning.
3. **Mentorship**: Seek guidance from experienced professionals.
4. **Networking**: Build genuine relationships within the industry.
5. **Take Action**: Step out of your comfort zone and make things happen.
By following these steps, you too can build a substantial property portfolio in just 12 months. If you need guidance or mentorship, feel free to reach out to me. Let’s work together to achieve your goals. Remember to keep sharpening those axes, and let’s crush it!
Best of luck, Small Axe community. Let’s build those personal empires!
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