Greater Boston’s #1 House Flipper, Nick Aalerud from AA Real Estate Group and coaching platform REI Accelerated, has been through every challenge possible and learned his lessons on the way. He now is a team builder and looks to provide impact on as many...
Greater Boston’s #1 House Flipper, Nick Aalerud from AA Real Estate Group and coaching platform REI Accelerated, has been through every challenge possible and learned his lessons on the way. He now is a team builder and looks to provide impact on as many as possible through his vertically integrated businesses that function in 10 states, fixes & flip, wholesale, retail brokerage, property management, and a short sale negotiation firm. He is a best-selling author and podcast host of the “Shut Up and Do It” Real Estate podcast and strives to be the best Dad he can be to his two kids while working on becoming an ice cream aficionado. In this episode, Nick talks about his investigation experience with the Securities and Exchange Commission (SEC) and the things he’s learned from this encounter.
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What you’ll learn in just 25 minutes from today’s episode:
“This wasn’t you. You’re not a victim. You own it. You can be mad at this guy and chase him for the rest of your life or just say you screwed up, move on, and put the rules and procedures in place so that you don’t do it again.” – Nick Aalerud
“Now knowing what I know, that was a horrible idea for anybody to just jump right in without the experience of going through the mistakes in learning lessons.” – Nick Aalerud
“The SEC is no joke. Even if you do everything right, the legal way, and you have all your paperwork in a row, it does come down to relationships and rapport with your people. Like, over-communicate, over-promise; make sure you continuously communicate with them. It’s not rocket science, but the moment you stop communication, that I think is the biggest red flag.” – Nick Aalerud
“If the SEC calls you, you’ll know; your call is all 9s. If the Department of Justice is calling you, it’s all 0s. Just so you’re aware. That’s what those two numbers mean.” – Nick Aalerud
“You can’t have someone only raising equity for your deals and even getting a cut or fee or whatever. You need someone who’s an active partner that’s going to get equity in those deals, not just an equity raiser.” – Nick Aalerud
“People just need to have that right mindset as to why are they in the business. If they have the right way, they’re gonna attract the deals, the capital, and that’s really the two things you need besides the operational expertise.” – Nick Aalerud
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