Tips for Investing in Real Estate with Your Significant Other with RJ and Nicole de Leon
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
Their mutual love of real estate brought them together
Advice on your first multifamily deal when working with a partner
When starting to work with a partner, understand each other's strengths and weaknesses, and divvy up the roles accordingly.
Strategies on how to figure out separate responsibilities between your partner and yourself
Making the transition into launching a real estate construction business
The largest variable in real estate is construction, as it could make or break your deal.
How investors find great contractors
Best practices on how to work with contractors efficiently
How to create strong partnerships
Advice on how to be a partner that everyone wants to work with
Instead of asking partners “what can we do?” make suggestions, then take the initiative and take action.
Tips on how to add value to a partner or potential partner
How the Chicago Multifamily Club helps investors
The InvestHer Group (Liz Faircloth)
How to balance life and work when you work with your significant other
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 Chinatown
Alice’s Bar-B-Que in Bronzeville
Contact Nicole & RJ