I loved this interview with Nick Aalerud – we discuss how he was able to build a business that does 60+ deals a year, why he decided to vertically integrate different lines of businesses into his company, and how he has overcome numerous "resets" in the process of growing his business. Nick is an awesome guy and a better real estate investor, be sure to give this one a listen!
Nick’s Redevelopment Company the AA Real Estate Group has completed over 200 deals since its inception, including rehabs, lease options, condo conversions, buy & hold rentals, and multi-unit buildings. The firm’s current deals are being done all over New England, including MA, NH, Southern ME, & CT, with others in PA & FL. He also is involved in multiple businesses and franchises, including founding a new type of real estate sales & brokerage firm (AA Premier Properties LLC) which has seen excellent growth over the past few years, now with 30+ agents.
Show Notes:
3:51 Nick shares his background in investment banking and how he got into real estate.
8:05 We discuss the deals Nick has targeted this year and how COVID-19 is impacting his progress.
10:52 Nick shares how he finds deals and how his acquisition strategy has changed due to the competitive nature of the market.
14:45 We discuss the software Nick uses to run his real estate business and why he uses it.
16:56 Nick shares his motivation behind why he utilizes multiple lines of business to grow his company.
21:40 We talk about how Nick manages his different streams of business by hiring a team and partnering with individuals that have a competitive advantage in specific areas.
26:26 Nick shares how he balances his in house management with offering his services to other landlords and businesses.
31:15 We discuss how Nick went from a “solopreneur” to an “entrepreneur” by scaling his business in the past 2 years.
37:03 Nick discusses his progression of building a team.
40:27 Nick shares what he would do differently if he were starting his business again. Also, we discuss how Nick overcame multiple resets in his career.
48:50 We discuss Nick’s goals in the next year and where he sees his business in the future.
CONNECT WITH NICK
https://www.linkedin.com/in/aarealestate/
https://aarealestategroup.com/
CONNECT WITH AXEL
https://www.instagram.com/multifamilywealth/?hl=en
https://www.linkedin.com/in/axelragnarsson/
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