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Erik Edvalds: The 26yr Old with $5mil of Real Estate within Walking Distance

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Real estate investor Erik Edvalds is proof that it’s never too early to start investing. It’s something that Erik himself didn’t quite realize until just a few years ago. 

After earning an accounting degree from the University of Washington, Erik embarked on his career in the tax field. While investing was in his sights, it wasn’t something that he thought he’d pursue until further down the line, as part of his retirement plans. However, one thing led to another and soon, Erik found himself switching back to the accounting field and working for a real estate company. 

It was while working at Theory Real Estate that Erik realized that he could, in fact, already begin investing, particularly in real estate. As Erik narrates, “I got very hands-on with the numbers, the investments, the flips, the holds, commercial, residential, multi-family real estate – everything. After a few months in, I realized I could do it a lot faster than I thought.” Erik then decided to become proactive when it comes to real estate investing. That decision has certainly paid off.

Erik began investing in residential properties. Since then, he has shifted to commercial real estate and is focused on properties in the downtown area of Puyallup, Washington. In just a few short years, Erik went from planning to invest in a couple of properties for his retirement to currently owning 8 commercial buildings,  a few residential, and an Airbnb at the age of 26. 

Today, Erik and his business partner Brian Olson have their sights set on hyper geographically focused investments in downtown Puyallup. The geographical focus means that the duo is not only investing in properties but they’re actually investing in the development and future of the Puyallup community itself. 

Within the next few years, Erik intends to acquire and redevelop buildings across the downtown Puyallup area with the intention to lease them to businesses that will have a positive impact on the surrounding area. In Erik’s own words, “We want to make existing buildings as nice as they can be for the benefit of the community, and fill them with awesome tenants and growing businesses.” All this is part of his vision to help create a thriving downtown Puyallup. It’s not something that many investors would take the time to pursue, outside of the return on investment from their property. However, giving back and investing in a bigger mission is something that Erik believes in and is fully committed to.

Anyone who’s looking to pursue or even expand their real estate investments and developments can learn a lot from Erik. Considering his own strategies, Erik shares a few quick tips. 

  • Tip #1: Of course, pick a good location. For Erik, it’s downtown Puyallup, which is a city that he and his family don’t only live in, but love, enjoy, and raise their kids in. 
  • Tip #2: Select a property with an active community and in proximity to a central area, such as a park or a landmark that signifies the center of town. 
  • Tip #3: Anyone planning to invest in commercial real estate should also look into older, historic buildings and not just new buildings, which don’t always develop the same way. Last but not least is to get engaged with the local community. 

With Erik’s ever-expanding portfolio, you’d think that his real estate investing would keep him busy enough. However, with his background in tax and accounting, there’s a lot more that Erik’s involved with and works on. He also analyzes and optimizes real estate portfolios, serves as a real estate agent for other buyers, and, of course, does tax and accounting for both businesses and individuals. Despite how busy all his business pursuits keep him, it’s clear that at 26, Erik is just getting started.

Carson Spitzke is a Canadian entrepreneur and the founder of Spitz Solutions, a PR and authority firms for companies that need to scale their brands and online presence. His primary expertise is in helping six to nine-figure businesses scale through disruptive strategies that encompasses digital media, branding and sales. If you know someone who deserves to highlighted reach out to carson@spitzsolutions.com

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