Nov 17, 2020
Money is one of the common challenges couples face. Usually, it’s when there is misalignment on spending, saving, and investing goals. For a young couple looking to build a real estate portfolio, RJ and Nicole de Leon realized their mutual love for real estate and bought a 3-unit building to house-hack within the first year of dating. Through trial and error, they figured out how to invest in real estate with a significant other. They formalized their real estate partnership through NVR Properties and their love through marriage.
While their own partnership grew, they realized they had value to offer to more established investors to continue their growth. We ended up working with Nicky to grow the Chicago Multifamily Club monthly meetup to a group with over 1,500 members. Nicky also is the Chicago lead for Liz Faircloth’s InvestHer meetup.
RJ launched EJC Partners, a construction company by partnering with strong crews and trades to provide steady projects. As an investor and contractor, RJ knows all too well some of the pitfalls that investors run into during construction projects. He is also a broker at Kale Realty, helping investors with a full suite of solutions.
In this episode, they share how they learned to work together as a couple investing in real estate, tips on managing construction projects, how to add value to a potential partner, and balancing love and work.
In our bonus content, they share tips on a common question to get your significant other on board with real estate investing.
Key insights to Develop Strong Real Estate Partnerships
When starting to work with a partner, understand each other's strengths and weaknesses, and divvy up the roles accordingly.
The largest variable in real estate is construction, as it could make or break your deal.
Instead of asking partners “what can we do?” make suggestions, then take the initiative and take action.
Partner: Download our Sample Deal Package
(RJ) I left a six-figure job because I thought I found a mentor who I thought would be my end-all, but it fell apart as he oversold himself. This helped me overcome negative experiences big or small.
Google Sheets & Docs (sharing factor)
Most Recommended Book:
The Miracle Morning (Hal Elrod)
Wish I Knew When I Was Starting Out:
Don’t buy cheap materials (or contractors), as it will cost you more money in the long run.
Curious About Right Now:
Best Place to Grab a Bite in Chicago, IL
Triple Crown in
Alice’s Bar-B-Que in Bronzeville
Contact Nicole & RJ