Transform Your Life by Flipping Houses with Nick Thiele

Flipping houses isn’t just about bricks and mortar – it’s also transforming lives. Nick Thiele, founder of Nick’s All Around Improvements and the creator of The Rehabbers Experience, exemplifies this journey. In a recent interview for the Thought Leader Spotlight series hosted by DealMachine, Nick shares his inspiring story, detailing the path from humble beginnings to becoming a successful real estate investor.

From Basement Mattress to Real Estate Success

Nick Thiele’s journey began about twelve years ago, when he was sleeping on a mattress on the floor in his mom’s basement. Faced with life’s challenges, including impending fatherhood, Nick experienced a pivotal moment that would change his life forever. Determined to be a rock star dad, he took up two jobs and worked tirelessly even before his child was born.

"I went from a guy that literally wanted nothing, did nothing, desired nothing to, you know, foot on gas." - Nick Thiele

Entering the Construction World

Nick’s leap into the world of construction began with his mother’s suggestion to pursue a trade. Opting for an electrical trade school, he turned his academic struggles into a success story by graduating with perfect attendance and a 4.0 GPA. This newfound passion for working with his hands led Nick to start a handyman business, taking on small jobs and learning through countless hours of YouTube tutorials.

Transitioning into Real Estate

As Nick’s handyman business grew, so did his ambition. He began transitioning from small handyman jobs to larger remodel projects, eventually setting his sights on real estate. This transformative phase was characterized by a relentless drive to learn and adapt. Nick’s all-in approach saw him buying his first property with a simple idea: to use it as an office and a project base while running his handyman business.

First Steps in Real Estate Investing

Nick’s first real estate investment was a small house in St. John, Missouri, purchased for $30,000. Though it took nearly eleven months to complete, the experience was invaluable. More importantly, it connected Nick with influential figures like Bryan Schroeder from FasterHouse and Longhorn Investments, who provided guidance and support.

"At the end of that deal, we made 30 grand. I was hooked." - Nick Thiele

The Power of Networking and Mentorship

Nick emphasizes the importance of networking and seeking mentorship in the real estate world. His connection with Bryan Schroeder led to learning about hard money and securing his second deal, which significantly boosted his confidence and financial success.

Practical Advice for Aspiring Real Estate Investors

One of the key takeaways from Nick’s journey is the value of practical experience combined with relentless learning. He advises aspiring investors to:

1. Network Extensively: Connect with tradespeople, wholesalers, and other investors to understand various aspects of the business.
2. Break Down Costs: Assessing rehab costs can be complex. Break down the project into manageable sections like paint, flooring, bathrooms, and kitchens to get more accurate estimates.
3. Prepare for Big Ticket Items: Factor in the potential costs of major repairs like roofing, HVAC systems, and structural issues upfront to avoid unpleasant surprises.

Overcoming Challenges and Embracing Failures

Nick’s journey wasn’t without its setbacks. He underscores the inevitability of failures and the importance of embracing them as learning opportunities. This mindset allowed him to navigate the ups and downs of real estate investing with resilience.

"Failing is just one way to move an option out of the way and get on to the next option." - Nick Thiele

The Rehabbers Experience

Nick’s passion for sharing his knowledge led him to create The Rehabbers Experience, a coaching and mentorship program that offers hands-on learning. Participants get to walk through actual rehab projects, gaining insights into every step of the process, from demolition to staging a finished project.

Lessons Learned and Key Takeaways

Nick Thiele’s story is a testament to the power of determination, learning, and networking in real estate investing. Here are some key takeaways from his journey:

• Start Small But Think Big: Don’t be afraid to begin with smaller projects while keeping long-term goals in mind.
• Learn Continuously: Equip yourself with knowledge through online resources, mentorship, and hands-on experience.
• Network Wisely: Build relationships with experienced professionals who can offer guidance and support.
• Break Down Projects: Simplify cost assessments by categorizing different sections of your rehab project.
• Prepare for the Unexpected: Factor in potential big-ticket repairs upfront to ensure your budget can handle unexpected costs.

By following these principles, aspiring real estate investors can navigate the complexities of the industry and build a successful career, much like Nick Thiele.

For more insights and advice from Nick Thiele, connect with him through his social media platforms and stay tuned for future events and workshops of the Rehabbers Experience.

Stay updated with DealMachine for more inspiring stories and expert advice in the real estate industry. Happy DealFinding!