After reviewing his portfolio, Jens (pronounced Yenz) Nielsen realized he needed a backup plan in case he ever lost his job. Born in Denmark, Jens currently lives in Durango, Colorado. He has invested in over 800 apartments, 500 mobile park lots and over 4,500 storage units. He made the transition from passive investor to general partner and will share his key lessons learned on today’s episode.
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Partner: Multifamily Investor Nation Summit June 27-29, Promo Code: “CASMON”
Key Market Insights
Grew up in Denmark, moved to London and then to the US
Realized he needed to shift strategies and get into real estate
Reached out to a good friend and his friend educated him on real estate
Asked him, “who do you know that I should know?”
Connected him with a broker in Albuquerque
Within 4 months, he closed on his first 4-plex
Started looking at his IRA and began investing opportunities from listening to podcasts or searching BiggerPockets
Started investing in note funds, before doing apartment syndications
Expanded into mobile home parks
Realized there was no appreciation with notes, so wanted the capital event with the sale of apartments
Market Selection Criteria – Seeks population growth, job growth, friendly business environment
Hesitant to work with someone who does not have a track record
Advice to passive investors: dig into the property and business plan
Lived in Albuquerque and felt it was the best place to start as it’s a linear market and was the closest big city to home
Partnered with a PM/Broker and thought the market lagged the recovery
Netflix is moving North America Production to Albuquerque, business-friendly and tax incentives
Apartment deals in Dallas-Fort Worth, mobile home parks in Arizona and self-storage scattered throughout
Mobile home parks – focused on areas where people move
JV venture on a 38-unit in Albuquerque
Albuquerque – Knob Hill, Northeast Heights near Eastern Mountains
Bull’s Eye Tips:
Winning Your Market: Understand the economic drivers
Tracking Market Changes: Google Alerts
Daily Habit: Miracle Morning Routine
Resources:
Best Business Books:
Deep Change by Robert E Quinn
Digital Resources
BiggerPockets
Tweet This:
“Who do you know that I should know?”
“Dig into the property and business plan”
Places to Grab a Bite:
El Pinto in North Valley
Connect with Jens:
Website: Opendoorscapital.com
Email: jens@opendoorscapital.com
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