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b'What challenges did Nico face on his first multifamily syndication deal, and what key lessons did he learn that have shaped his investing approach today?\\n\\xa0\\nIn this episode, host Taylor Loht interviews Nico Salgado about his experience acquiring his first multifamily syndication deal - a 194-unit C/C- property in Columbus, Ohio in 2020. They discuss the obstacles Nico faced with this challenging Class C property, from troublesome tenants to major deferred maintenance and difficulties with his large GP team. Nico shares key takeaways that have informed his investing strategy going forward.\\n\\xa0\\nNico has a BS in Business Marketing and Management and a minor in Economics. He also holds a master\'s degree in Spanish Language Education and spent the past 18 years as a Spanish teacher. Apart from teaching and investing in real estate, Nico is an entrepreneur, coach, mentor, and leader. He is an avid surfer, woodworker, traveler, and extremely proud father. As founder and visionary of Small Axe Communities, Nico is responsible for developing and executing the company\\u2019s long-term objectives, growth strategies, and initiatives as well as overseeing day-to-day operations.\\n\\xa0\\n\\xa0\\n[00:00 - 00:03] Getting Started in Multifamily Investing \\nNico began educating himself on multifamily in 2019 through a mentorship program\\nHe joined his first syndication deal in 2020 after declining initially due to feeling unprepared\\n\\xa0\\n [00:03 - 00:12] The Challenges of His First Deal\\n194 units in Columbus, Ohio purchased in Dec 2020 for $43k per door\\nSignificant deferred maintenance after 12 years of neglect from the previous owner\\nHad issues with crime and troublesome tenants in one area of the two-property portfolio\\n\\xa0\\n [00:12 - 00:16] Executing the Business Plan\\nBrought in a construction crew from Miami to renovate units\\nRenovated about 100 of the 194 units\\nTook occupancy from the 60s into the 90s by the time of sale\\n\\xa0\\n[00:16 - 00:26] Selling the Asset \\nNico approached by several buyers early on due to an attractive offer\\nEnded up selling to one of those groups 2 years after buying\\nThe buyer got "flaky" to rising interest rates but closed at the original price\\nHaving 8 GPs was too many "cooks in the kitchen"\\nStayed focused on Florida afterward due to the Columbus market\\n\\xa0\\n Quote:\\n-"It was a freaking stretch, man. It was really hard to get that done. I didn\\u2019t realize how hard it was going to be." - Nico Salgado\\n\\xa0\\nConnect with Nico:\\n\\xa0\\nWebsite: https://smallaxecommunities.com/\\n\\xa0\\nApply to Invest with Taylor at\\xa0www.investwithtaylor.com\\n\\xa0\\nTo track your wealth for free with Personal Capital, go to\\xa0www.escapingwallstreet.com\\n\\xa0\\nPlease leave a review and help others escape Wall Street and build wealth on Main Street!'