Every one always asks me how I got into real estate investing. Here's the short version: Back in 1999, I bought our first home for $105K, with a rural housing loan and $5K grant for first time home buyers. I was scared out of my mind and didn’t know everything—I just knew I wanted to get started. A few years later, I sold that home for $205,000. That single transaction doubled my money—and changed the course of my life. I was hooked! With the equity, we then custom built a dream home, which we later sold for $1.3M. Since then, I have developed properties, bought industrial buildings, single family homes, and condos. I'm proud to say I currently own 35 investment properties across western North Dakota, with some big named tenants including Amazon and Marathon Oil. And you could too....

Real estate investing doesn’t require quitting your job, timing the market perfectly, or betting the farm. What it does require is insight, strategy, and a willingness to start small and grow smart.

This week, I’m sharing some of the most practical and Proven ways to start investing in real estate—even as a side hustle.

1. Buy Small, Think Bigger

You don’t need to take on a massive project to generate solid returns. Single-tenant commercial units, small storage facilities, or land parcels in fast-growing areas of North Dakota can offer impressive stability and upside. In Williston and Dickinson, property values are climbing (7.3% and 8.6% year-over-year respectively), especially in sectors like light industrial and service-based retail. Inventory is tight—and scarcity drives value.

2. Partner Up

Want to get started and level up your game? Then go bigger & faster. Consider teaming up with a partner, or multiple partners. I’ve joint ventured with clients, friends, family members, and small investor groups to leverage our capital and allow us to purchase higher quality properties to attract better tenants. Just be sure to define roles, goals, and your exit plan before you sign anything.

3. Land: The Long Game

Some of my favorite investments? Land. It isn’t about overnight cash flow—it’s about long-term vision and upside.Parcels of land near infrastructure or expanding growth zones. I traded an old, run down commercial building for 40 acres of heavy industrial land in Williston back in 2012, subdivided it and tripled my money. As they say, "They aren't making any more land". Lots are typically low-maintenance, and in places like McKenzie and Williams Counties, they’ve appreciated 5–10% annually. And with the new Williams County Buyer/Broker Incentive Program, there is now a vehicle to help you with your infrastructure costs. Check out our Youtube channel for an interview with county commissioner Steve Kemp outlining the entire program.

4. Lease-Back or Buy-Back Deals

Creative financing is a hidden gem in our market. Think: sale-leasebacks, lease-to-own options, or vendor financing. You can generate rental income today and gain equity over time—all while someone else handles the day-to-day.

5. REITs & Private Funds

Want in without hands-on ownership? Consider REITs (Real Estate Investment Trusts) or private real estate funds. Many start with minimums as low as $500, with passive returns averaging 4%–9% depending on risk. A good way to get started but make sure you do your homework!

Why This Works Right Now

• North Dakota property values are strong, with 4.8% appreciation statewide

• Williston and surrounding cities are growing faster than the average, due to the high wages, low taxes and increasing opportunities

• Rents are rising, especially in commercial and industrial spaces

• Interest in real estate as an “alternative income” stream is booming, as people are worried about the stock market and global economy

What’s Your First Move?

Start by asking yourself:

• Do I want to be an active or passive investor?

• Am I focused on cash flow, equity growth, or retirement planning?

• How much time and capital can I commit?

From there, I can help you explore the local landscape, build a custom strategy, and even introduce you to off-market or under-the-radar opportunities. You don’t need to go all in today—but you do need to get informed. That’s how wealth starts.

Send me a message. I'm here to help you take the next step—whether that’s a duplex in Dickinson or your first piece of dirt outside Watford City.

Here’s to your success,

Erik Peterson