From Healthcare to Apartment Operator with Nic Espanet, Ep. 757

Nic Espanet is the founder of Flex Equity Group and host of the Flex Forward Podcast. After two decades as a physical therapist, Nic transitioned into real estate—starting with passive investments before becoming a lead general partner. He’s now led eight out of ten multifamily deals across Texas, with a focus on operational systems, investor communication, and market strategy. Through his podcast and syndication work, he helps others build freedom through clarity, consistency, and resilience.

Make sure to download our free guide, 7 Questions Every Passive Investor Should Ask, here.

Key Takeaways

• Start as a passive investor to learn best practices and build trust.

• Your first GP deal might require sacrificing equity to gain credibility.

• Raising capital today is about thoughtful follow-up, not just email blasts.

• Real estate’s control and tangibility make it more appealing than stocks.

• Take fast action with underperforming property managers—delay can cost you.

Topics

From Healthcare to Real Estate

• Nic spent 20+ years in physical therapy before pivoting to real estate.

• Originally planned to invest in single-family homes before discovering multifamily.

• His first steps were as a passive LP, which taught him how great GPs operate.

The GP Transition

• Joined a Dallas real estate network to meet experienced sponsors.

• Partnered with a seasoned operator for his first deal and earned credibility through effort.

• Built his own investor systems based on what he appreciated as an LP.

Capital Raising in Today’s Market

• Early deals filled in 2–3 days. Now it often takes weeks of phone calls and reminders.

• Uses GoHighLevel CRM to track interest, follow-ups, and conversations.

• Avoids texting new investors due to new legislation (SB140 in Texas).

Lessons From the Field

• During COVID, personally took over a failing asset and drove occupancy from 70% to 90%.

• Now focuses on Texas secondary markets with population growth and minimal new supply.

• Attributes success to consistent communication, team alignment, and market adaptability.

📢 Announcement: Learn about our Apartment Investing Mastermind here.

Round of Insights

Failure that set Nic up for success: Waiting too long to fire a failing property management company. That experience now shapes how fast he acts when performance slips.

Digital or mobile resource: GoHighLevel CRM. It tracks soft commits, investor contact, and follow-up history in one place.

Book recommendation: Rich Dad Poor Dad by Robert Kiyosaki.

Daily habit: Early morning workouts with friends. It builds discipline, energy, and consistency.

#1 insight for scaling a multifamily portfolio: Find and surround yourself with a like-minded community of investors and mentors. Growth comes from relationships.

Favorite restaurant in Fort Worth, TX: Joe T. Garcia’s.

Next Steps

• Visit flexequitygroup.com to learn more or schedule a call

• Listen to the Flex Forward Podcast for stories on reinvention and real estate

Thank you for joining us for another great episode! If you’re enjoying the show, please LEAVE A RATING OR REVIEW, and be sure to hit that subscribe button so you do not miss an episode.