In this Story episode, Nick Earls and Eric DiNicola share their journey of getting into real estate as rebellious kids. They discuss the real estate landscape in the Boston area and how investing in condominiums becomes an ideal strategy in the emerging market. Listen closely as they break down the steps they had to take in navigating the political environment. Join us and listen in!

Nick Earls and Eric DiNicola are real estate investors focusing on multifamily. They purchase/syndicate large multifamily properties in the Southeast and develop luxury multifamily condominiums in the Boston market. They also develop affordable housing and have experience with land entitlement.

Nick is the co-founder and managing principal of Winterspring Capital (winterspringcapital.com) and has over a decade of experience in all phases of commercial real estate, including asset management, sales, new construction development, and property management. While building his own portfolio, he has also guided many investors down the path of multifamily investment, management, or development. He is an expert on multifamily condominium development, underwriting, and asset management in the multifamily space and is also the author of the top-rated book “Making Millions through Multi-Family Development.”

Eric DiNicola, co-founder and managing principal of Winterspring Capital, has a strong financial background spanning over a decade. Eric understands the importance of investment diversification. He began working in public equity in 2010 and moved into the private equity markets where he worked on valuations and capital raising. Joining forces with Nick in 2015, he leveraged his investment experience and expertise to accelerate the growth of Winterspring's real estate business. Heading up our acquisitions team, Eric leans on his extensive broker network to keep Winterspring's deal pipeline full.

[00:01 – 08:24] Strategizing to Break Free from the Cycle

• Being rebellious and striving for independence as kids
• Discovering opportunities in condominium development
• Tips to identifying an emerging market

[08:25 – 17:29] Crafting the Gameplan in a Continuously Thriving Market

• Gameplan for the Boston market and scaling up
• Obstacles faced navigating the political environment
• Understanding the niche and diversifying your portfolio

[17:30 – 35:56] Scaling Through Residential Real Estate

• The opportunity of turning commercial real estate into residential
• Determining the underwriting process and hedging against risk
• Exit strategy for condominium investing

[35:57 – 37:23] Closing Segment

• Connect with Nick and Eric!

Tweetable Quotes:

“This [real estate investing] is the way we could kind of break free from the cycle and start our own thing” - Nick Earls

“It's [investing in condominium] more about a credibility of the construction process, because obviously, it's a little more complicated than a normal deal.” - Nick Earls 

----------------

Socials and Links

Connect with Nick Earls and Eric DiNicola at IG and FB

Check out Winterspring Capital on Linkedin

Be sure to check out PassiveInvesting.com to learn how to build wealth through real estate!

LEAVE A RATING AND REVIEW + help someone learn how to start their investing career by sharing this episode or click here to listen to our previous episodes.

Get IN RHYTHM and follow The Multifamily Artists Podcast on Apple Podcasts, Audible, and Captivate

Visit our website to learn more about me and IN RHYTHM

Follow me on Instagram, Facebook, and Linkedin.