Eric Nelson thought buying one rental a year would lead to financial freedom. But after years of grinding, he realized he was just building another job. In this episode, Eric breaks down how he shifted from single-family rentals to a 1,000+ unit multifamily portfolio—and why mindset, mentorship, and the right partnerships made all the difference.
We dig into the painful lessons, the strategic pivots, and the exact steps that helped Eric quit his W-2, move his family to Spain, and build a business that supports his life. If you’re trying to scale—or stuck doing it all yourself—this is the episode you’ve been waiting for.
Key Takeaways
Why “One Rental a Year” Doesn’t Work
- Eric’s early plan: 10 houses in 10 years = early retirement
- What actually happened: no scale, no freedom, no time
- Why single-family rentals didn’t deliver the cash flow he expected
The Case for Multifamily Over Rentals
- How one vacancy kills cash flow in SFR—but barely moves the needle in MF
- Why multifamily is less emotional, more predictable, and built for scale
- The moment Eric realized apartments were actually less risky
How Mentorship Accelerated His Success
- What changed when Eric hired a coach—and why he says it was essential
- Why every successful syndicator he knows did the same
- The critical role of KP partners and advisory teams in getting your first deal done
Raising Capital as a Service, Not a Favor
- How Eric overcame his fear of asking friends and family to invest
- Why capital raising is about helping others—not begging for money
- What he tells high-income earners unsure where to place their capital
Why Right Now Is a Great Time to Get In
- Why fewer buyers and better pricing make today a rare opportunity
- How Eric is buying deals in today’s market—and what’s changed since 2021
- What he tells LPs who are frozen by fear or waiting on the sidelines
From Hamster Wheel to Freedom in Spain
- How Eric went from overworked engineer to living abroad with his family
- What it actually looks like to build a business around your life
- Why he’s focused on sustainable, strategic growth—not hyper-scaling
Connect with Eric
Connect with Michael
Resources
Access the #1 FREE Apartment Investing Course (Apartments 101)
Schedule a Free Strategy Session with Michael's Team of Advisors
Explore Michael’s Mentoring Program
Popular Podcasts
Crime Junkie
Does hearing about a true crime case always leave you scouring the internet for the truth behind the story? Dive into your next mystery with Crime Junkie. Every Monday, join your host Ashley Flowers as she unravels all the details of infamous and underreported true crime cases with her best friend Brit Prawat. From cold cases to missing persons and heroes in our community who seek justice, Crime Junkie is your destination for theories and stories you won’t hear anywhere else. Whether you're a seasoned true crime enthusiast or new to the genre, you'll find yourself on the edge of your seat awaiting a new episode every Monday. If you can never get enough true crime... Congratulations, you’ve found your people. Follow to join a community of Crime Junkies! Crime Junkie is presented by audiochuck Media Company.
24/7 News: The Latest
The latest news in 4 minutes updated every hour, every day.
Stuff You Should Know
If you've ever wanted to know about champagne, satanism, the Stonewall Uprising, chaos theory, LSD, El Nino, true crime and Rosa Parks, then look no further. Josh and Chuck have you covered.