In this episode, Lorenzo Mercado interviews Nick Sehy, an investor based in Seattle who has made big moves in the Detroit real estate market. Nick shares his journey from working at Microsoft to becoming a successful real estate investor, detailing his experiences with the BRRRR strategy, the challenges of investing in Detroit, and the importance of having solid contracts in place. He discusses his first deal, the lessons learned from various investments, and how he navigates the complexities of property management and theft in the market. Nick emphasizes the need for a strong support system and the value of taking action in real estate investing. Nick shares his journey in real estate, focusing on his transition from wholesaling to flipping properties. He discusses strategies for finding deals, the importance of good partnerships, and the systems he has implemented to scale his business. Nick emphasizes the significance of setting ambitious goals and the need for continuous learning and adaptation in the real estate market. He also offers valuable advice for aspiring investors, highlighting the importance of passion and persistence in achieving success. Thanks for tuning in. Hope you enjoy the show!

Follow Nick Sehy on IG: @nick.sehy

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Follow Lorenzo Mercado on IG: @Lorenzo.Mercado_
Follow on Youtube: @TheLo-Down


Takeaways

• Nick has completed 25 to 30 deals in real estate.
• He averages about $300 cash flow per rental property.
• Nick started investing in real estate to create a passive income.
• The BRRRR strategy allows for infinite investment potential.
• Choosing Detroit was strategic due to lower costs and support systems.
• Nick emphasizes the importance of solid contracts in partnerships.
• He faced challenges with theft, particularly with furnaces in properties.
• Nick's first deal was a successful BRRRR that provided significant equity.
• He advises new investors to analyze many deals to understand the market.
• Building a team and delegating tasks is crucial for scaling a real estate business. Nick started flipping properties in 2023-2024.
• He successfully negotiates lower prices on MLS listings.
• Having a good realtor and contractor is crucial for success.
• Nick's recent flip yielded an impressive profit of $90k.
• Scaling up requires effective systems and processes.
• Partnerships can help manage funding and resources.
• Setting clear expectations with partners is essential.
• Nick aims to complete 20 flips in 2025.
• Continuous small progress leads to significant growth.
• Finding a niche and sticking to it is key for new investors.