Healthcare Professional Turned Real Estate Investor
Episode 102:
Nic Espanet has been passively investing in multifamily assets since 2016 and has been a multifamily Syndicator & Asset Manager since 2018. Nic has worked as a licensed Physical Therapist since 1996 and has run his own private practice since 2012.
His experience as a small business owner combined with his detail-oriented personality has equipped the strong growth of Thrive Multifamily, a Texas-based multifamily syndication company. Nic is currently an Asset Manager in 4 multifamily syndications totaling 580 units and is a Passive Investor in an additional 1780 units at 7 properties.
For today’s episode we will cover:
[ 00:00 – 03:13] Opening Segment.
- Getting to know Nic Espanet.
[ 03:13 – 12:18 ] Experience as a healthcare provider.
- Lack of financial literacy as healthcare professionals.
- Realizing that physical therapy can’t be sustainable.
- Why healthcare benefits aren’t enough.
- Getting out of the rat race.
[ 12:18 – 22:18 ] Getting the first deal.
- Analyzing deals with a partner online before Zoom.
- Working with a more experienced person.
- Setting a goal and learning what to sacrifice.
- Balancing being a W2 employee and a small business owner.
- Getting the foot through the door.
[ 22:18 – 29:16 ] How COVID affected Nic’s businesses
- Challenges to overcome.
- Knowing where to cut to be afloat.
- How the Multifamily market survived COVID.
[ 29:16 – 41:05 ] The marketplace after COVID
- Surprises in today’s marketplace
- Investing in the South East
- Changes in strategy
- Future of Multi-family
[ 41:05 – 46:50 ] Finding where to focus
- Look for a local partner
- Why you should connect with Nic
[ 46:50 – 53:15 ] Closing segment
- Rapid fire questions for Nic.
- Final words from everyone.
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