23 Sep Turning Failure into Big Profits in Real Estate
The Reset King, Nick Aalerud, shares how he handled failures and setbacks to build and scale a vertically integrated real estate investment company. Nick has learned to reset and come back bigger through turning failure into big profits in real estate by incorporating wholesaling, fix and flip, buy and hold, property management, and debt services. He has now built an organization in which each group feeds the others.
Video replay of my interview with Nick Aalerud about Turning Failure into Big Profits in Real Estate:
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More about Nick Aalerud and Turning Failure into Big Profits in Real Estate:
Greater Boston’s #1 HomeBuyer, multifamily owner, best selling author, speaker, a mindset and real estate coach, Nick Aalerud and his team have a HomeBuyingdivision in Greater Boston and Southern NH where they work to help at least 100 homeowners per year, a Property Management firm that works to add significant value to investor’s portfolios, a Short Sale / Debt Settlement Firm that helps get homeowners out from their heavy debt, a Retail and Investor-Friendly Sales Brokerage, a host of the “Shut Up And Do It” Real Estate Podcast where he shares stories of other business owners who overcame their own challenges, and a coaching division (REI Ignition and REI Accelerated) where the focus is to create 100 Financially Free Families each year.
Having been through his own short sales, a foreclosure, crawling back from $400K in bad debt, losing hundreds of thousands in rehab lessons, and even a brush with the SEC when he aligned with the wrong people on large multifamily syndications… and two divorces…
He’s learned what ultimately is the key to his success.
His new mission is to profoundly IMPACT as many people as he can, through his business ventures, through his coaching programs, through his charity and service work, and through his efforts at being the best Dad, soulmate, and team leader he can be
Takeaways from Turning Failure into Big Profits in Real Estate:
- Look reset as a chance to pivot yourself to do what is right.
- Take responsibility for your failure and rise from it.
- Establish processes and procedures for mitigating problems.
- Time-block your relationships, spirituality, and body.
- Culture starts with the leaders, and then it will gradually manifest to its members.
- Don’t let perfect get in the way of better or done. Just do it.
- For partnerships, expecting it to succeed is better than expecting it to fail.
- Learn to let go and move forward for the best.
- Focus not only on money but also on being of service and impact to your team and sellers.
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About Steve Trang
Steve Trang (https://www.stevetrang.com) is the founder of the Real Estate Disruptors. He started his podcast in the middle of 2018 to inspire wholesalers and real estate agents to double their incomes by adding a 2nd leg to their business. The podcast has now grown to tens of thousands followers with new members of the community sharing their success story every week.
Steve also created the OfferFast Homes app. The purpose of the app is to help wholesalers jump start their career faster by putting all of the buyers in one place. The hope is to minimize the challenge of building a buyer list when getting started in wholesaling.
Steve’s legacy will be to create 100 Millionaires. One of his favorite quotes is from the great Zig Ziglar: “You can have everything in life you want, if you will just help enough other people get what they want.” He heard this quote when he first got into real estate, and it has stuck with him throughout his entire career. In fact, it’s essentially one of the core values Steve lives by.
Since starting the Stunning Homes Realty in 2013, the brokerage has over 130 agents. In the greater Phoenix area, SRH has almost 1% market share. One out of every 137 homes in Phoenix metro is sold by Stunning Homes Realty (https://www.stunninghomesrealty.com).