How a Real Estate Investor Turns One Seattle Teardown Into Four Townhouses | Elsa Epelbaum

Elsa Epelbaum (00:00)
I had an agent that I sent him ticket to a concert af after we closed the deal because I knew is that he really loved that and he helped me so much. So I just kind of sent him the ticket and he was so happy about that. And now we will be walking a lifetime together because we

build up this relationship and this is so important. Relationship in real estate, I feel it can get you up so much and you never know where it will come from. So just be nice.

Quentin Edmonds (01:02)
Hello, everyone. Welcome to the Real Estate Pros Podcast. I am your host, Q Edmonds. I am super excited today, excited about my guests.

She is an investor. She’s been raising money for syndication. GP, she’s on a second project. And fun fact, English is not a first language. I’ll let her explain more about that. But I’m super excited that we get to peek through the lens today of Miss Elsa. Miss Elsa, how are you doing today, ma’am?

Elsa Epelbaum (01:30)
Good, thank you. Thank you for inviting me in this podcast. I’m doing really good

Quentin Edmonds (01:35)
Absolutely. I love it. Well, yeah, I’m glad you said let’s begin because listen, I’m the type I like to dive right in. Miss Elsa, I would love for you to tell the people what’s your main focus these days? And if you don’t mind, give us a little bit of an origin story, kind of how you got into the position that you’re in, and then tell us where you are in the world. And so Miss Elsa, you have the floor, ma’am.

Elsa Epelbaum (01:55)
Okay, so I’m now in Seattle. I’ve been relocated now, it’s been a year in Seattle, so yeah, very new here, but very happy to be here too. so I’m now in a development project, meaning I’m building some new construction.

My first role was not in real estate. I began in an insurance company. I had an insurance company with my dad. We loved that. It was growing so well. But family business, sometimes it can be complicated with family. So every dinner, every time I met him, it was only about business. So we decided to split it. And I needed to find my path.

And real estate was definitely something that I wanted to do for such a long time and it was just the right opportunity to me to do it. And I found some people that I really love. They were GP in multiple projects and they wanted to raise money. So I worked for them in investor relationship for almost five years.

It was really usually multifamily business. it was big projects. Let’s say the minimum that we usually needed for Equity there were around three million dollars. So it was kind of big ticket, family office, private investor, but it was not the usually fifty one hundred thousand that people

invest. so very good experience there. I love that, really love that. I understand that I want to do my own project and be as a GP in my project. Yeah. So I’ve decided to begin that. I took so many classes from different mentors and I learned so much about that. My first project was

I’m sure I’m not the only one, but the first one is like it’s really you ask yourself so many questions and you are not sure and if even if you have a system just to do it and to jump on in the occasion and to do it, it’s kind of a big deal. Yeah. after that I dealt with my fear, I began my first project. It was a rental. Sensibly, it was not such a big

project but it went so well so I took the place it was an apartment I did a rehab and then I resell it so this was my first project and I will tell you also I was investing in the same time with a lot of syndication so I was part of LP for some who don’t know usually in a project when you have a lot of investors there are

under a syndication. So like that you can have multiple investors in one project investing together as an Equity. so I’ve been investing in a lot of LP, but definitely doing my own project was a different one. It was kind of a new perspective for me. and right now I’m doing so development project.

I’ve been asking myself what path I want to take because definitely in real estate it’s so vast. You can have storage you can have a mobile home, you can have RV park. name it. There are so many options. And it took me a while to decide it which patch I want to take. I decided to because I’m in Seattle, I have an opportunity here with the zoning. So in Seattle, the zoning gets changed.

Which means that you can take a house, a single family, take it off and build more houses for example now I have a project and I’m taking off one house and I’m building four town houses instead. And I was pestiged that was the best option because I’m here. why not?

so that’s what I’ve been doing lately, development project. and I love that. I think that’s one of the main things that helped me begin was it was finding the right people. have a good team is one of the biggest I think was challenge at the beginning for me, to find the right people that you connect with.

It’s not only the experience. the experience is definitely very, important and you cannot get past it. But defin but also, have the right connection. Find that you can speak with someone clearly and being on the same vibe. so yeah, connection was a big one.

And as I built my team, I’ve been finding out that what’s actually now stopping me is Equity.

Because you do very quickly one, two projects, and then you are missing Equity. And this is so frustrating because you have so many big good projects, so many good options, and you find out that really the Equity is what’s missing. there are two parts that I’m working on. First of all is finding kind of

a way to have Equity going on. I mean something they can count on it. working on social media maybe working maybe on going out to meeting people in different community talking about what I’m doing even around me. because my family obviously know but even friend speaking with

them and letting this out. so right now that’s exactly what I’m doing. I’m working on getting Equity quite easily. So that’s one time one thing that I really focus on. and the other thing is obviously finding right deal. as the market is kind of challenging, but in the same time

There are so many good opportunities because of that. Because people like wanna get rid of property and they cannot stand alone. And you’re just here like a God as saver for them. And you can see now in the market that prices are going down. So you definitely if you have cash, you can definitely find out some really, good project. And I think that I wanna

Use like this momentum and just buy so many things now because of the market.

Quentin Edmonds (08:19)
Absolutely.

Elsa Epelbaum (08:20)
Yeah.

Quentin Edmonds (08:21)
Well, thank you so much. Thank you for taking us through the journey, letting us know kind of where you are, kind of how you got there, projecting, kind of seeing what it is that you want to do. So I love it. Thank you so much for sharing. Miss Elsa often say destiny has no wasted moments, right? We are learning from every leg of our journey. We’re learning from the failure, from the success. We’re learning from it all. So I would love to know throughout your journey.

What has the journey revealed to you about yourself? Has it made you more disciplined? Has it made you humble? Has it increased your tenacity? Like what is this journey, your journey revealed to you about you?

Elsa Epelbaum (08:57)
I think tenacity is definitely one. I’ve been dealing with a lot of no in the process. it has begun with raising capital, with working with investors, that you have to know to deal with the no and you have to keep in mind that the next no is just another one to get to the yes.

If you just know that you have a hundred no is then a yes, you will definitely like work on it and do it intensely. So in my mind, and just like that, the no is not just a no, it’s just the past to yes. So take it easy and just do not take off the food from the gas. Just keep doing what you’re doing and just not like taking off. so I think the tenacity is a big one for me.

and be able to take the no with a smile, like be happy about that. And you never know, an investor sometimes say no for a project, and then he will call you the today after and say, what? I want to go in. And sometimes maybe it was not this project, but it is another one. So always be fine with the no and to know how to take it lightly and just to keep in mind it’s

just a pass for the yes. yeah.

Quentin Edmonds (10:46)
So well said. Absolutely so well said. appreciate that, being accepting the know and moving forward. I absolutely love it. I think that’s a good message. let me ask you this. So, I think you mentioned this, systems operations is the big thing within business, helping us to stay structured, different things like that. I would love to know for you what’s one operational thing you’ve put into place.

Let’s say the last two years that has really kind of helped you be successful.

Elsa Epelbaum (11:13)
I’ve been using AI in my business now. and one thing that I do with AI is putting in a project I get so many projects from my email, from my agent, from everywhere. And sometime at the beginning when you get a project it takes you,

sometimes can take you an hour, two hours just to figure out if it’s worth looking. And it’s just so much time and it’s really tiring. So getting a system to with the AI can put out a project inside and having kind of a buy box

it will just tell me in a few seconds, it’s a yes or a no. It’s so worth it because it’s kind of helped me again, dealing with so many deals and knowing what is worth my time and what is not.

Quentin Edmonds (11:58)
Absolutely. Love that. I love that. AI has definitely really, trying to change the game with organization, with prospecting and different things. Thank you for mentioning that.

Elsa Epelbaum (12:09)
I will tell you still, I think I’m not doing the best with AI. I’m sure there is other options that I’m just not aware. I’m working on it too, like putting more AI in my business. I think that will be so helpful and really even for investor just to get check in really quickly. so yeah, definitely working on that. Yeah.

Quentin Edmonds (12:32)
I love it. So what’s next for you? I know you mentioned a little bit, but I want to ask you What’s the next real goal? What are you looking to solve at scale next?

Elsa Epelbaum (12:39)
so right now I’m working on two deals it’s kind of the same project I’ve been doing now. I have a teardown for two houses to build a eight unit on them. And the other one is it’s an apartment building that I want to build also in Seattle. so

Two very good projects that I’m working on them now right now with my team. we are just in the finish line, missing maybe one or two investors.

Quentin Edmonds (13:08)
I love it. I know you mentioned earlier finding the right people. That was a big thing for you. And so I always like to ask everyone that comes on, I want to get their unique perspective when it comes to relationship building.

I would love to get your unique perspective on building healthy relationships within business. And what are some of the relationships that have served you well? And what are some relationships of people whom you have served well? You’ve helped people. So just talk to me, Miss Elsa, a little bit about relationship building from your perspective.

Elsa Epelbaum (13:39)
from my perspective, I feel that you need to be always helpful and willing to do the extra step and to be consistent too. so I try in my business as if I can always to help the other side. I found out that to be willing to do that and always taking an extra step for someone, by the end it will come back to you.

So always let people take the time to explain to both exactly what you want and not rush it. so I found out with relationship you need to be very consistent. That will be one thing that really I think was really helpful. for example with agents, you have sometimes you have sub

Agents that are so busy, but you have they have the best deal. And the one thing that will stand out, it’s consistency. So it can be like a stupid hello, I saw this kind of vlog. Can you tell me a little bit about it? Or it will be even nice stuff, if someone mentioned that they love I

had an agent that I sent him ticket to a concert af after we closed the deal because I knew is that he really loved that and he helped me so much. So I just kind of sent him the ticket and he was so happy about that. And now we will be walking a lifetime together because we

build up this relationship and this is so important. Relationship in real estate, I feel it can get you up so much and you never know where it will come from. So just be nice. Be nice and keep consistency all the time. Even when someone just even saying no to someone, be nice about it.

Quentin Edmonds (15:17)
Absolutely. So well said. the being consistent, staying in communication, standing contact. that is so, important. Miss Elsa, before we, tell people how to get in contact with you, I kind of want to make sure that we get that we cover all bases. So I’m not sure. Maybe is there a message that you kind of had on your heart that you wanted people to know about your business, or maybe just a message of like

Education, inspiration. Like I just want to make sure if there’s something on your heart that you feel like people should know. I kind of want to make space for that. So if there’s something like that, I would love for you to land at if you have a message like that.

Elsa Epelbaum (15:53)
So this is not just for real estate. if you are in the middle of the path and you are on a W two work and just borrowing stuff and you want just to change career or something like that, take your time to build it, but we live only once so

Take the opportunity and just do it. Sometime fear can hold you to do so many amazing stuff along the way. it can be so many other stuff, but big decision in life. Just I know it’s a Nike slogan, but just do it. Not be afraid.

Quentin Edmonds (16:26)
No, I think that’s well said. Just do it. some people have that analysis by paralysis, get stuck in analyzing. But no time, you gotta pull the trigger. So don’t be scared. Just get out here and do it. I think that is an exceptional message because if you don’t put it in action, it will never develop. It will never transpire. Well, listen, Miss Elsa, if someone wanted to reach out to you.

Connect with you, collaborate with you, learn more about what you’re doing. How can they get in contact with you, ma’am?

Elsa Epelbaum (16:54)
so my company is Aether Equity. my email is [email protected]. I will send you a link if you will post it in the podcast. I will love that. Absolutely. so feel free to contact me even for a question, not just for investing. Question, anything I’m open to discuss.

Quentin Edmonds (17:13)
Well, listen, Miss Elsa, let me say three things to you sincerely. One, thank you for your time. I think time is our most precious commodity. So thank you for your time today. Secondly, thank you for what I call the gift of your authenticity, the gift of your integrity, like showing up as your real self. I believe when we tell stories about what we do, when we share our experience, it sprinkles seeds for people. And those seeds can take, plant it.

And it can grow at any given time. So I think you coming on, sharing, has plenty some real seeds for people. And lastly, thank you for your mindset. Thank you for the way you think and bringing that mindset to this platform. I greatly appreciate you coming on today.

Elsa Epelbaum (17:51)
Thank you for inviting me, it was awesome.

Quentin Edmonds (17:54)
Absolutely. Well, listen, y’all heard Miss Elsa. Links are in the show notes. So please go check that out and get in contact with her. But definitely make sure you are subscribed here. Cause I promise you, we’re going to continue to bring up amazing people just like thee, Miss Elsa. So ma’am, I say thank you again. And everyone else, y’all have an incredible day.