Many of us are tied to one source of income. It could be our job as an employee or our business as an entrepreneur. We look at our investments in a 401k and diversify to keep our investments safe. Why don't we do that with our core source of income? More and more we hear about side hustles and alternative sources of income. But how do you do that?
In today's episode, we chat with Nate Herrick about how he has done this in his own life and how you can do it too. We also chat about Real Estate Syndication, Stacked Income Sources, building a team past 'just employees', and finding your own side hustle. Today's show was recorded at PodMax!
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About Nate Herrick
Nate Herrick was born and raised in Eastern Connecticut with his parents and two younger brothers. Nate enrolled at The University of Connecticut where he enlisted in the US Army National Guard for a new challenge and was the only realistic way he could afford college. After graduating from UConn in 2001, Nate accepted a sales position with a Fortune 20 consumer goods corporation. Soon after the “9/11” terrorist attacks, he was called to active duty and proudly served in support Operation Iraqi Freedom culminating with the status of Army Veteran.
Back from the military and working his corporate job, Nate purchases his first rental property. Soon after he meets an independent operator in the ATM industry who introduces him to the business and eventually develops his own ATM route which he continues to grow to this day. This was Mr. Herrick’s first exposure to the mindset of an Entrepreneur, not an employee. After leaving his corporate job, Nate focused on creating and growing multiple income streams and developed a vacation rental business representing owners at luxury ski, beach and ski destinations utilizing the current AirBNB and VRBO rental models.
After realizing the vacation rental business was not a viable primary source of income, Nate went into business with his brother Zach as they continue to grow their recruiting business assisting Architects, Engineers and Construction Professionals in the CT, NY and NJ marketplace. While working his “9-5” in recruiting, Nate continued his focus on growing multiple income streams through Multifamily Real Estate investing, Self-Storage opportunities, Institutional ATM route investing, Private Placements, and most recently is syndicating Merchant Cash Advances. In 2019, Nate forms NAZ Capital with his two brothers. The entity invests in multifamily apartment syndications, ATMs and various private placements.
Nate’s mission is to provide a standard of living for his two young children that he never had but more importantly instill the values, drive and financial education necessary to succeed on their own. In his free time Nate enjoys traveling to many of the premiere ski destinations in the world, coaching his kid’s sports teams and consistent exercise.
