An Ignoble Experiment: The Investment That Almost Didn’t Happen (And Why That Matters for You)

Dear Investor,

Hey there, Jim here—as you know, my wife Katie is deeply involved with all that we do here at White Coat Investor. I want to share a story about our friends at Black Swan Real Estate, where husband-and-wife team Dr. Elaine Stageberg and Nick also operate their business together, that might just change the way you think about investing with your spouse.

By way of disclosure, we have an advertising relationship with Black Swan Real Estate, meaning we get paid for making this introduction and sharing this content. As always with these types of deals, consider this an introduction and not a recommendation. Every deal is unique and the responsibility to vet any and every deal you invest in still lies with you. This opportunity is for accredited investors only.

Here's a message from Elaine:

If you and I haven't met yet, I'm Dr. Elaine Stageberg, and my husband, Nick, and I are the founders of Black Swan Real Estate. We help physicians and high-income professionals build wealth through real estate—whether that's investing passively in our private offerings or actively growing their own portfolios.

But if you think we started out as fearless investors who always knew exactly what to do… let me tell you a little story.

Nick and I joke that I'm the Chief Risk Officer in our marriage. If there's a big decision on the table—especially one involving money—you better believe I'm analyzing every angle. Meanwhile, Nick is the visionary, the action-taker, the one who sees an opportunity and jumps in with both feet.

So when we first started investing in real estate, guess which one of us was ready to roll? (Hint: It wasn't me.)

Nick was all in. He saw the potential, he crunched the numbers, and he was ready to pull the trigger. And me? I had a million reasons why it wasn't the right time. What if the market turned? What if we couldn't find good tenants? What if, what if, what if…

And yet, through all my hesitation, Nick never pressured me. He nudged. He led. He respected my need to process while gently helping me see the possibilities. Eventually, I took the leap with him—and looking back, I can't believe I almost let fear keep us from the best financial decision we ever made.

Today, we own and operate a $375 million real estate portfolio—and we help others build their own financial freedom through real estate investing. But here's the thing: No matter how successful we've become, the same dynamic still plays out. Nick pushes forward, and I'm always the one asking, "But have we considered this?" And that balance? That's exactly what makes us a strong investing team.

But what if you don't have that same balance in your life?

Influence starts with understanding, not convincing. When you and your spouse are aligned, you can build something far greater than wealth—you can build freedom, legacy, and a partnership that thrives.

Whether you and your spouse invest together, separately, or one of you is hesitant to jump in, understanding relationships and communication is a critical skill set for success. This applies to active and passive investors alike.

You Can't Influence Someone While You're Judging Them

It's easy to feel frustrated when your partner doesn't immediately see the vision you have for your financial future. Maybe they're risk-averse, skeptical, or simply not interested. Remember that judgment blocks connection. You can't bring someone along for the ride if they feel misunderstood, dismissed, or pressured.

So, what if you approached these conversations with curiosity rather than frustration? What are their fears? Their desires? What does financial freedom look like to them? (HINT: Financial security and financial freedom are two sides of the same coin and speaking to your partner in the way that most resonates with them can get them to open up!) True alignment comes from a place of mutual understanding.

Communication is the Foundation of Wealth (and Marriage!)

How you talk about investing is just as important as the investments themselves. Real estate decisions—whether you're buying your first rental or scaling to thousands of doors—require trust, vision, and teamwork. Without clear communication, even the best-laid investment plans can fall apart.

Couples who master communication don't just build strong marriages—they build strong portfolios. They make better investment decisions, navigate challenges more effectively, and create a shared vision of their future.

The Three Dimensions of a Relationship

The way you and your spouse approach investing is a reflection of the stage of your relationship.

Egocentric – Focused on individual needs and fears ("I don't want to lose money," "I'm not comfortable with risk").
Ethnocentric – Prioritizing the relationship as a unit ("How does this decision affect us?" "Are we aligned?").
Spirit-Centric – Looking beyond yourselves toward legacy and impact ("How can we create generational wealth?" "How do we serve others through investing?").

Where are you and your spouse operating from right now? Understanding this framework helps you move past roadblocks and create true alignment in your investing journey.

Real estate investing is about building a life of freedom, security, and purpose. When you and your spouse are aligned, the possibilities are limitless.

We're Here to Help You Take the Leap

Maybe you're like Nick—ready to jump in, but struggling to get your spouse on board. Maybe you're more like me—wanting to invest, but needing confidence in the timing and execution.

Either way, you don't have to figure this out alone. At Black Swan Real Estate, we help investors like you move forward with clarity, confidence, and a strategy that actually works.

If you're ready to start building real, passive income through real estate, let's talk. We have exclusive investment opportunities that allow you to build wealth without the headaches of being a landlord.

Here's what I know for sure: Building wealth—and building it together—isn't about finding the perfect moment; it's about taking the leap, aligning your vision, and moving forward as a team.

Let's take that first step—together.

Dr. Elaine Stageberg
Black Swan Real Estate

This content has been shared by Black Swan Real Estate.

Black Swan Real Estate is a family-owned, physician-led real estate investment firm specializing in value-add, recession-resistant opportunities, backed by conservative, fixed rate debt. With $375 million in assets under management and a proven track record of delivering strong returns (there's never once been a missed return or a capital call in their history!), Black Swan is trusted by high-income professionals and investors seeking passive wealth creation and financial freedom. Stop by their booth at WCICON!

Led by Dr. Elaine Stageberg and her team, Black Swan combines deep market expertise, hands-on operational excellence, and a commitment to aligned interests, with no GP-level fees whatsoever and a radical investor-first approach. Black Swan Real Estate empowers busy professionals to build generational wealth while creating a legacy of freedom and financial independence.

Are you looking for a high fixed rate of return with a liquidity option? The Secure Freedom Fund offered by Black Swan meets those needs! It pays a 10% fixed rate of return with monthly payments, OR you can allow your returns to accrue and compound every month, which raises your annualized rate of return to an incredible 10.47% fixed.

Imagine having a 1:1 conversation with Dr. Elaine Stageberg, Founder and CEO of Black Swan Real Estate—an opportunity to share your goals, get personalized insights, and uncover how you can accelerate your journey to financial freedom. This is your chance to gain clarity, ask questions, and take actionable steps toward building the life you deserve. Don't wait—your breakthrough starts here! You can block a time to have a personalized, 1:1 call with her here. You can also check out their website to get insights from their mailing list, free live monthly master class, or one of their life-changing in-person events.

There are exclusive opportunities available for White Coat Investors! If you would like to know more, please visit their website, or you can reach Dr. Elaine Stageberg directly at elaine@blackswanteam.com or their Director of Communications, Rachel Bernard at rachel@blackswanteam.com.