Many multifamily syndicators have either transitioned or are currently transitioning from a full-time W2 into the world of real estate. Taking the plunge can be daunting and going through the transition is demanding on time, finances, and one's emotions too. Luckily there is an art to it, and Jens Nielsen who is our guest for today is doing a great job of mastering it. Jens enjoyed working his W2 in the IT world for many years, but always wanted to find a way of clocking fewer hours while still making a good income. When he discovered real estate he dove in wholeheartedly and today specializes in underwriting, capital raising, and investor relations while still working his W2. In today’s episode, we speak to Jens about how he is managing the fear, time costs, social pressures, and risks involved in moving from his W2 into full-time syndication and coaching. He stresses the value of his time management skills, and also his dedication to remaining transparent with his W2 coworkers so as not to burn any bridges. Indeed, his boss has even invested in a few of his deals! If you’re looking for that push to finally quit your job and enter the world of passive income, this is the episode for you!
Key Points From This Episode:
- Introducing Jens, a specialist in underwriting, capital raising, investor relations, and coaching.
- Jens’s previous life: enjoying saving through his W2 in IT before going the real estate route.
- How Jens had always wanted a passive income and then discovered real estate investing.
- Jens’s journey into real estate buying fourplexes and educating himself through partnerships.
- How Jens balances his W2 with real estate: early mornings, time management, and no kids!
- When Jens might leave his W2 and the lost deal opportunities he faces while staying.
- Transparency issues around keeping relations good at work while pivoting into real estate.
- Financial risks that come with leaving a W2 and transitioning into a freelance career.
- Advice for people getting into real estate: have support, build some savings, and get a coach.
- Using the worst-case scenario mental exercise to get over the fear of entrepreneurship.
- Jens’s five-year plan: sell smaller properties, keep coaching, and partner with his students.
Tweetables:
“For years I’ve been thinking about what I can do that doesn’t require me to punch the clock.” — Jens Nielsen [0:03:02]
“It really is that shift from relying on one source – that W2 that comes every other week – to going out there and just creating your own future.” — Jens Nielsen [0:10:00]
Links Mentioned in Today’s Episode:
Wayne Patton’s Asset Protection
Passive Income through Multifamily Real Estate group on Facebook