Nick Vertucci has truly become a legendary example of the American dream – an intriguing rags to riches then rags to riches again story about perseverance, confidence, and self-determination. Nick has become an inspiration to many who have followed in his footsteps, turning their lives around using his real estate advice to discover their own success. His passionate pick-yourself-up-by-your-own-bootstraps attitude is motivational and contagious; and, whether it is in the boardroom or at the poker table, his story has valuable insights that can help people in any situation become the masters of their own destiny, as well as obtain the success that they have always dreamt of.
Stepping into the World of Real Estate Investing
Entering into a real estate career was not a road that Nick ever imagined himself going down. Through a stroke of luck, he actually stumbled into the business when an acquaintance convinced him to attend a real estate seminar.
According to Nick, “Briefly, back in 2004, I was losing a tech business. I was about 3 years into losing that business… I was in a pretty bad place. Then I got a call and it was someone who was in the same boat as me, but losing a packaging business. This was around the time that we had the Dotcom crash and then 9-11 was right after, so that’s when I started losing my business. Then, in 2004, this individual was struggling just like I was and called me up. He told me something strange. He asked me what I was doing on a Friday through a Sunday. I told him nothing, and he asked if I wanted to go to a 3-day real estate training workshop for investing.
Initially, I said no and he told me something even stranger. He told me that he paid a pretty hefty price to go to this 3-day class, and the first thing that I thought when he told me that is, thank God there is finally someone stupider than me! I couldn’t believe that, in the condition he was in financially, that he would do this. But, the long and short is, I thank the Lord every day that I went. I knew nothing about real estate going in, but I knew that I was on to something. I didn’t know what that was, but the rest is a longer story. I got in because I went to a real estate training class in a really bad financial time.”
This is the event that changed his life, and since then, he has been enjoying success in the real estate investment world. However, it did not come easily. Multiple interviews and articles outlining Nick’s personal growth identify the hard work he was consistently committed to over the years. It was his devotion to education and personal development that led him to making his millions in real estate investing.
Nick’s Transition to Education: What is NVREA?
In 2014, Nick Vertucci decided to change gears and shifted his attention from investing to teaching. His story paired with his dedication to his business made the perfect backdrop for the creation of a new and exciting real estate training course. Additionally, Nicks unique background made him the ideal role model for keeping people engaged and helping them succeed.
Through his ten plus years working in the industry Nick discovered that he had created a cash flow system, or a way to flip properties and make consistent profits. He recognizes that this system provided him an excellent avenue to transition into the education sector; ultimately, he recognized that he had something to share. Therefore, while working with his partner and an individual who was skilled at conducting real estate training courses, Vertucci developed and started to teach his own personal seminar: a 3-day seminar outlining the cash flow system. Vertucci was excited for this new venture because he himself started his real estate journey as one of those very same students.
“Back in 2004 I became a student of the Real Estate training industry. At this time, I was losing a tech business after the tech crash. I got invited to a 3 day RE class. After gaining some investing traction I walked away from my floundering tech business at this point millions in debt. I began investing and acquiring one door at a time (real estate investing term). Over the next ten years I changed my financial outlook and went from broke to flourishing financially. I created a turnkey system to investing into single family rentals. I was buying foreclosures, rehabbing them, renting them, and managing them within my system. Not only for my personal portfolio but I was offering them to investors. I began selling them by the hundreds to the public through channels such as my own radio show ‘The Real Estate Investing Hour.’ In 2014 after accomplishing what I set out to do which was turn my financial future around to the point of financial freedom. I decided to take my perfected investing strategies to the masses. I launched NVREA January 2014 with the mission of creating the best real estate training course the industry has ever seen.”
The Nick Vertucci Real Estate Academy (NVREA) was founded in 2014 in Orange County, California on the basis that “Wealth is Waiting.” At his academy, Vertucci helps students across the United States (and Canada) achieve their real estate investing goals. His seminars and classes give students the hands-on knowledge they need to succeed.
NVREA provides education on:
- Wholesale and flipping contracts
- Rehabbing and flipping properties
- Buying and holding properties for long-term cash flow
- Leveraging your IRA and 401K to fund investments
- Asset protection
- Basics of real estate investing
- Commercial investments (retail, apartment, and office/industrial buildings)
- Steps through a real estate transaction (identifying properties, making an offer, preparing
contracts, steps in escrow, loans, closing escrow, and much more)
Vertucci makes it easy by breaking the transactions down into three simple steps – “Get in, Get out, Get paid.” This gets straight to the heart of how to find the best deals, get the deals (buy low, sell high!), prep the deal, flip (through rehabbing, wholesaling, or renting), and make your fortune.
With a comprehensive knowledge of investment and real estate, Vertucci lays out a fourfold strategy to a winning plan – “See it, Believe it, Map it, and Execute it.” This plan reaches far beyond real estate investing; it is sound advice for any business.
SEE IT. Vertucci explains that when you see something you want, you need a clear vision of how to accomplish it.
BELIEVE IT. Once you see it you must believe it. The reason most individuals fail is their lack of confidence. People carry with them the false belief that they cannot be great. Vertucci teaches students the importance of self-confidence.
MAP IT. The roadmap to success has to be clearly marked and planned out. Vertucci’s goal is to help students create this plan and guide their success.
EXECUTE IT. Once the system is created, you have structure to accomplish it. Act on the idea and pursue your dreams.
On the surface these four steps appear simple, but can be challenging. With the support of Vertucci’s team at NVREA, students are provided resources they need to overcome the challenges and accomplish their goals. Nick Vertucci claims that students will be empowered to take bold, calculated risks, similar to those he took to reinvent himself.
Lessons to be Learned by Nick Vertucci
Before we get started on the details of how Nick Vertucci has found his success in the real estate industry, let’s first look at WHY Nick has been so supportive of individuals finding wealth in the real estate industry. There are four primary points to outline that clarifies why investing in real estate is an effective investment strategy.
- Real estate is limited. There is only a specific amount of land available within the world for development, making real estate uniquely different compared to its investment competitors. There is no new land that can be added; actually, with changes in the environment, usable land space is actually declining. Therefore, if you can get started in the real estate industry, you are working within an industry that has a limited commodity, which ultimately can increase its value in a good market.
- Real estate can provide protection via “inflation proofing.” The average inflation rate in the United States is about 3%; however, when an individual is holding their savings in a bank account, they are generally only making 0.1% annually. Therefore, in essence, they are losing money each year. If an individual places their capital in real estate, they are more likely to yield the 3% that will match inflation.
- Real estate allows for passive income. If you are smart with your investment strategy, and implement the concepts that Nick identifies at NVREA about buying and holding, you are potentially setting yourself up to receive passive income – that is income that you receive with no work. If you own a property and are renting it out and making more on the rent than what you are paying on the property (mortgage and bills), then you are making positive cash flow with no work.
- Investors can make millions with no upfront capital. Real estate investing allows you to use OPM, or other persons money, to start investing in the industry. Debt can actually be used as a tool to increase individual wealth.
Investing Mistakes to Avoid
Closing a deal can be an extremely nerve-racking experience that can make even the best investors break a sweat. Even if you dot your I’s and cross your T’s, secured funding, and think you are on easy street, things can fall through at the last second. All your hard work can go up in smoke leaving you with nothing. Vertucci understands that sometimes, despite your best effort, deals can crumble at the last minute. Occasionally the stars just don’t align.
Nick Vertucci knows from personal experience that this unexpected turn in the transaction is likely to happen more than once. The reasons are numerous, sometimes it’s the seller’s fault because of legal errors or a simple change of heart. Other times it’s important to recognize when the problem is you. No one likes to admit when they accidentally shipwreck their own deal – it is the worst feeling – but every professional is guilty of doing it at least once. Over the course of his career Nick has picked up on the patterns that he has seen countless investors, students, and even himself slip up on over and over again. These mistakes can steer even the best and savviest investor off course. Nick has identified the most common four mistakes an investor can make, and shares how one can avoid the unwanted hassles and headaches.
1 – The first is being sidelined by common expenses. What he means here is not the regular fees associated with the cost of doing business like maintaining your website, marketing and sales materials, advertising, or attorney and appraiser fees. Plan for these standard operating expenses but, also, for unexpected contingencies that pop up during the process. Vertucci recommends putting together a simple budget for every deal, that includes an extra 10-20% on top of the total to account for these unexpected costs. It’s great if you never need to use it, but it will be ready for you when you do. Time and time again Nick has seen deals fall apart because of a lack of good budgeting. It’s also a good idea to keep track of your budget on a daily basis so you can easily course correct if things begin to get off track. This will save you the shock of an expensive or even cost-prohibitive line item when it comes time to close.
2 – The next mistake is not understanding how every deal impacts your business as a whole. Investing in each deal takes capital, and chances are that you as an investor have a limited amount of capital. Therefore, if you are going to get tied up in one deal, ensure that it is the RIGHT deal. Remove emotions and assess the investment accurately. For, if a new deal presents itself, but your finances are tied up in another low-quality deal, you have reduced the profit margin of your business.
3 – The third mistake that investors often make is that they do not do their due diligence, or as Nick puts it, they end up “Skipping the homework.” Before investing in any property, it is recommended that you understand all aspects of the deal, including the upside, the market, and how it will affect your portfolio. Doing an in-depth assessment of your potential can help to identify any curveballs that may be thrown your way. Also, it can ensure that you avoid going upside down on the deal, which would ultimately affect your entire business.
4 – The last major mistake that investors make is that they go at it alone. Nick has recognized since the beginning of his career in real estate that investing is a team sport. It involves, buyers, sellers, lender, attorneys, and a slew of other professionals. Unfortunately, many investors try to manage the entire deal on their own and it ends up causing a financial loss. Asking for help when needed is not something to be ashamed of and can help you not only improve your profit margin, but also improve your relationships with the other individuals involved in the deal.
Protect Your Investments
In a recent interview with Nick, he outlines the importance of protecting your investments:
“I’ll tell you, protecting your assets is something that’s not complicated, but it’s not cookie cutter either. Each individual is different. We all own a different set of assets and we’re all going in different directions. So, you have to be very careful, because when you’re in business, when you’re an entrepreneur, you have to have asset protection. But, asset protection is also corporate structure and it’s also your CPA life.
All three of those things tie in together and they’re all very important for an entrepreneur. It is probably one of the most important things, because you’ve got to learn how to make money, you’ve also got to learn how to protect your money, then you’ve got to learn how to make your money grow, and you’ve got to have a good tax life. You need a set of professionals that you’re working with, who really understand business and have your best interest. But, understand that, especially with real estate investors, all three of those, asset protection, corporate structure, and your tax life, they tie in together.”
Without protection, an investor is at high risk of losing everything that they worked for. This is one of the biggest mistakes new investors can make.
Becoming an Author… “Seven Figure Decisions: Having the Balls to Succeed”
Throughout his years of experience Nick has made dozens of mistakes. The one thing that sets him apart from those individuals in the world who do not succeed – he did not give up. This is a challenging aspect of a person’s work ethic that many people try to avoid on a daily basis. However, in Nick’s recent book, Seven Figure Decisions: Having the Balls to Succeed, Nick reviews how the everyday individual can find the confidence and persistence they need to build their life into something they had not imagined previously. The idea: being able to push past fears and alter your mindset to pursue your dreams.
The book, identified as a memoir and inspirational story by Nick and his audience, was even endorsed by American entrepreneur and business executive Kevin Harrington. Harrington shared “Everyone loves a rags-to-riches story. But you know what’s even better? A rags-to-riches, back-to-rags, and back-to-riches-again story…Nick Vertucci started with no money or education and made a fortune in the tech industry. Then he lost it all. But like a true entrepreneur, he started over, fought his way back, and made another fortune. If you dream of being a millionaire, listen to someone who’s done it … twice.”
If anyone is interested in learning about how to grow in whatever personal endeavor they are pursuing, it is recommended that they read the book. Even if it is in an industry outside of real estate, through Nick’s tale of his experience and lessons learned, both in business and personally, the book can provide readers with life changing insight which can alter their ways of thinking.
Let’s Play Poker
Nick is not all about real estate. He is a well-rounded individual who is passionate about learning and educating others on how to expand their lives and live the life that the dream of.
Most recently, Nick can be found in headlines attributed to his excellent poker skills. He began his journey in professional poker in 2004 when he entered into his first big game at Commerce Casino – the No-Limit Texas Hold’Em Championship. With a buy in of $1,500, and 251 competitors, Nick successfully walked out of the casino with a win, taking 8th place in the tournament.
Nick has attributed his success in poker to the skills he has built through his years as a real estate investor. Since 2004, Nick has played with world renowned poker players, including: Antonio “the magician” Esfandiari, Phil “the poker brat” Helmuth, Mike “the mouth Matusow, David Benyamine, Phil “the unibomber” Lakk, and Kenny Tran. He has also played with some well-known celebrities, including: Jennifer Tilly, Ben Affleck, Don Cheadle, and James Woods. He has sat at highly competitive tournaments such as WSOP, WPT, Poker after Dark, and Live at the Bike.
The growth in Nick Vertucci’s reputation as a poker player has mimicked his path as a real estate investor. It is obvious that once Nick decides he is going to succeed at something, he will. With the right mindset and the ability to open up and work with others (both as a mentor and as a mentee), an individual’s success has no limits.
