Eric Nelson thought buying one rental a year would lead to financial freedom. But after years of grinding, he realized he was just building another job. In this episode, Eric breaks down how he shifted from single-family rentals to a 1,000+ unit multifamily portfolio—and why mindset, mentorship, and the right partnerships made all the difference.

We dig into the painful lessons, the strategic pivots, and the exact steps that helped Eric quit his W-2, move his family to Spain, and build a business that supports his life. If you’re trying to scale—or stuck doing it all yourself—this is the episode you’ve been waiting for.

Key TakeawaysWhy “One Rental a Year” Doesn’t Work

• Eric’s early plan: 10 houses in 10 years = early retirement
• What actually happened: no scale, no freedom, no time
• Why single-family rentals didn’t deliver the cash flow he expected

The Case for Multifamily Over Rentals

• How one vacancy kills cash flow in SFR—but barely moves the needle in MF
• Why multifamily is less emotional, more predictable, and built for scale
• The moment Eric realized apartments were actually less risky

How Mentorship Accelerated His Success

• What changed when Eric hired a coach—and why he says it was essential
• Why every successful syndicator he knows did the same
• The critical role of KP partners and advisory teams in getting your first deal done

Raising Capital as a Service, Not a Favor

• How Eric overcame his fear of asking friends and family to invest
• Why capital raising is about helping others—not begging for money
• What he tells high-income earners unsure where to place their capital

Why Right Now Is a Great Time to Get In

• Why fewer buyers and better pricing make today a rare opportunity
• How Eric is buying deals in today’s market—and what’s changed since 2021
• What he tells LPs who are frozen by fear or waiting on the sidelines

From Hamster Wheel to Freedom in Spain

• How Eric went from overworked engineer to living abroad with his family
• What it actually looks like to build a business around your life
• Why he’s focused on sustainable, strategic growth—not hyper-scaling

Connect with Eric

Instagram

Wild Oak Capital

Connect with Michael

Facebook

Instagram

YouTube

TikTok

Resources

TheFreedomPodcast.com 

Access the #1 FREE Apartment Investing Course (Apartments 101)

Schedule a Free Strategy Session with Michael's Team of Advisors

Explore Michael’s Mentoring Program

Join the Nighthawk Equity Investor Club

Review the Podcast on Apple Podcasts

Syndicated Deal Analyzer

Get the Book, Financial Freedom with Real Estate Investing by Michael Blank 

For full episode show notes visit: https://themichaelblank.com/podcasts/session480/