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.

• 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

• 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

• 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

• 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 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

• 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

Instagram

Wild Oak Capital

Facebook

Instagram

YouTube

TikTok

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

In this episode, Michael Blank is joined by seasoned investor Paul Moore, founder of Wellings Capital, to unpack the journey from flipping houses and chasing every real estate strategy… to raising over $200 million in capital and building a fund-based business that finally delivered real wealth. Paul shares how a single moment with a mentor forced him to stop winging it and build a true capital-raising system.

They dive deep into how capital raisers can grow with or without a deal, the myths about passive income, and why commercial real estate is fundamentally different (and more powerful) than residential. This episode is a masterclass in focus, mindset shifts, and breaking through plateaus by specializing.

Key Takeaways:

• Passive Income Is a Lie—Until You Do This: Both Paul and Michael learned the hard way that flipping houses isn’t passive—and the real path to financial freedom is cash-flowing commercial assets.
• Focus Beats Hustle: Paul was stuck chasing inconsistent deals until he narrowed in on raising capital and built a repeatable system to attract investors.
• Raising Capital Is a Skill, Not a Gift: Whether you do it 1-on-1 or through content marketing, anyone can learn how to raise millions—if they follow a proven playbook.
• Why the "Old Boys Club" Ignores You: Breaking into commercial real estate requires more than desire—you need credibility, partners, and a real strategy to be taken seriously.
• Commercial Real Estate Is Based on Math, Not Hype: Unlike residential, you can force appreciation through net income. That means you have control over value.
• The Fund Manager Model: Paul explains how capital raisers can scale faster—and stay compliant—by launching their own funds and partnering with proven operators.

Connect with Paul Moore:

• Website: wellingscapital.com
• Resources: Free eBooks on multifamily, self-storage, and mobile home park investing → wellingscapital.com/resources
• Books: Author of The Perfect Investment, Storing Up Profits, and Warren Buffett’s Rules for Real Estate Investors
• Social Media: Find Paul on LinkedIn, YouTube, or search for Paul Moore Wellings Capital
• Philanthropy: Support his anti-human trafficking work at aimfree.org

Facebook

Instagram

YouTube

TikTok

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...

Forget what you’ve been told about retirement. In this episode, Michael Blank breaks down why chasing the dream of sitting on a beach at 65 is not just outdated—it’s dangerous. He unpacks the flawed math behind 401(k)s, FIRE, and single-family rentals, and lays out a smarter, faster path to freedom through multifamily syndications. If you're a high-income earner chasing control over your time, this episode will reframe how you think about “retirement” and show you how to buy your time back—on your terms.

Retirement Is Not the Goal—Freedom Is

• Traditional retirement means doing nothing, and that’s not fulfilling for most people.
• After a short break, high performers crave impact, purpose, and productivity.
• Financial freedom gives you options—to work, to rest, to choose how you live.

The Math of Retirement Doesn’t Work

• The 4% Rule requires you to save $3M+ for $10K/month in passive income—before inflation.
• With inflation, that number balloons to $7.3M to maintain your current lifestyle.
• Very few people are saving $2K–$15K/month for 10–30 years consistently.

Why the FIRE Movement Falls Short

• FIRE (Financial Independence, Retire Early) demands extreme frugality—up to 70% savings rates.
• It's built on sacrifice and still relies on fragile stock market assumptions.
• Once “retired,” most FIRE followers still live lean—without true freedom or fulfillment.

Why Rentals Are Better—But Still Not Enough

• Even buying one rental per year doesn’t get you to $10K/month cash flow fast.
• 50 rentals = $10K/month at $200/month per property—a huge operational burden.
• BRRRR and flips can help, but they’re still slow, time-intensive, and hard to scale.

Multifamily Syndications: The Fast Track to Freedom

• Acquisition fees from one deal can replace your income and give you a 12-month runway.
• Syndications have multiple profit centers: fees, cash flow, equity, and backend profits.
• With the right coaching, you can quit your job within 1–2 years—not 30.

Break the “DIY” Trap: Why Coaching Matters

• Most people try to figure it out alone and stay stuck for years.
• Multifamily syndications are a team sport—scale comes from partnerships, not hustle.
• Without a roadmap, you’ll hit a ceiling fast or never start at all.

Join the Nighthawk Equity Investor Club

Facebook

Instagram

YouTube

TikTok

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...