The Nick Chaconas Experience

A Journey of Wealth & Well-Being

From "aha" to "oh crap ," I'm sharing everything on my journey as an investor.

My name is Nick Chaconas. Just an ordinary guy who decided I wanted something more.

"My family deserves better. I'm capable of so much more. I'm tired of living a mediocre life as I trade time for money."

That's how it all started. I was sick and tired of the life I was living, with all the wrong dialogue playing on repeat in my head.

In early 2021 I committed to leave the life of "just being a realtor" behind and become a real estate investor .. and to document the journey from brand new real estate investor to having consistent $20,000+ months!

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From Obstacle to Opportunity: Real Estate Investing Made Figureoutable

April 09, 20243 min read

Marie Forleo's concept of "Everything is Figureoutable" from her book is a powerful mindset that underlines the importance of resilience, creativity, and determination in overcoming challenges. This principle has been exceptionally beneficial in my real estate investing career, where I've encountered a wide array of problems ranging from financial constraints in getting my first fix/flip put together, to contractor and materials management issues that popped up repeatedly during the Geroge St renovation, to navigating complex legal requirements that had everyone pulling their hair out with last week's closing on Catalfa.

  1. Clearly Identify the Problem: In real estate investing, the first step towards making a problem "figureoutable" is to precisely identify what the issue is. Is it a cash flow problem, a tenant issue, or perhaps a challenge with securing financing? Clearly defining the problem allows for a targeted approach in seeking solutions.

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  2. Understand the Variables: Every problem in real estate has its unique variables, such as market conditions, property location, and financial resources. By understanding these variables, you can better assess your options and the potential impact of different solutions.

  3. Leverage Existing Knowledge: Some challenges you'll face in real estate will be familiar, and you can apply existing knowledge or past experiences to solve them. For instance, if you've previously navigated a difficult zoning issue, you can use that experience to handle similar challenges in the future. Today, I depend on the invaluable information I learned in the ACS Program.

  4. Research and Seek Out Resources: For more complex problems, continuous learning and research are crucial. These days, I turn to my PARTNERS quite literally on a daily basis during our 4pm Zoom calls. Over the weekend, I had a seller complete a funding department form and it seems like this is not an investment deal, but a listing referral to hand off to my Top 50 Agent. This is the first hand-off so I jumped on the call and asked to walk-thru the dialogue with both the seller and the agent to ensure the hand-off is seamless. 10 minutes later, I had all the information I needed and made the hand-off smooth as silk. My agent is scheduled to get onsite on Friday afternoon and we'll see for sure which direction this deal is going to go.

  5. Iterative Process: The process of finding solutions in real estate investing is often iterative. It involves proposing a solution, executing it, and then evaluating the results. If the desired outcome is achieved, you can move forward; if not, it's back to the drawing board. This cycle of evaluation, execution, and reassessment is vital for continuous improvement and success.

  6. Embrace Creativity and Flexibility: Solving problems in real estate often requires creative thinking and flexibility. Be open to unconventional solutions and be prepared to pivot your strategy based on new information or changing circumstances.

  7. Persistence and Resilience: Finally, the essence of making something "figureoutable" lies in persistence and resilience. Real estate investing is not without its challenges, but with determination and a problem-solving mindset, you can navigate through difficulties and capitalize on opportunities.

With Maria's "Everything is Figureoutable" approach I continue to significantly enhance my ability to overcome challenges and achieve my investment goals.

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