Our guests are Nick Earls and Eric DiNicola, the founders of Winterspring Capital, a multifamily investment and development firm. In this episode, we dig into the ins and outs of condo development. We break down the development process into 5 simple steps, talk about how to invest in big cities, and how to sell condos successfully.
If you’re interested in condo development, then join us in this conversation!
Learn more about Nick and Eric and their journey at reiclarity.com!
“Condominium development has been a really good pathway for us, and has allowed us to branch into long-term multifamily ownership.”
Nick and Eric have pursued many different real estate strategies during their career. They’re involved in condo development, multifamily, buy and holds, and flips around the Boston, Massachusetts area.
They started their real estate journey with condo development. They initially wanted to buy rentals, but saw an opportunity in their local market for condos and have been using this strategy ever since.
“Marketing is key because the speed of sale is the biggest focus at the end to eliminate stress.”
Nick and Eric share the 5 main steps of condo development.
“Real estate is worth the risk. And it’s not as big of a risk as some people think.”
At the end of the episode, Nick and Eric pick action steps from the REI Clarity Framework that are the most valuable to them. These are “Take the Risk” and “Know Your Strategy”.
At the beginning of their real estate journey, Nick and Eric often got into analysis paralysis. However, as they progressed through their careers, they realized that real estate is one of the safest investment asset classes. If you’re confident in what you know, then take the risk. Worst case scenario is that you have to sell the property.
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