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How Zach Bagby and Courtney Erickson Built a $5M Real Estate Portfolio While Full Time in Tech

How Zach Bagby and Courtney Erickson Built a $5M Real Estate Portfolio While Full Time in Tech

The fifty-sixth episode of Groundbreakers Podcast by Homebase! Listen in for an amazing interview with Zach Bagby and Courtney Erickson, co-founders of ZB3 Real Estat

How Zach Bagby and Courtney Erickson Built a $5M Real Estate Portfolio While Full Time in Tech
Domingo Valadez
Domingo Valadez

Apr 2, 2025

Podcast

Episode Summary

In this episode of Groundbreakers, Zach Bagby and Courtney Erickson, co-founders of ZB3 Real Estate, share how they’ve built a $5M+ real estate portfolio across Colorado and the Midwest—all while working full-time in tech.

Zach works at Medley. Courtney is at Visa. And together, they’re scaling ZB3 through careful underwriting, creative deal structuring, and a long-term thesis that embraces market volatility. From buying back a property they sold to navigating a tenant situation that made the local news, they’ve learned by doing—and built a system that balances career, capital, and cash flow.

To listen to this episode, follow this link to Groundbreakers on Spotify!

Key Points Discussed

  • Building While Working Full-Time: Zach and Courtney share how they’ve closed five real estate deals without leaving their day jobs, and how their W2 income has been a strategic advantage during a tough market cycle.
  • The Buy-Sell-Buy Deal: One of their early deals involved buying a fourplex for $900K, selling it for $1.3M, then buying it back for $1M—showing the value of staying close to the deal and trusting your thesis.
  • Operational Lessons from Crisis: After a tenant incident went viral and made the news, Zach and Courtney learned the value of hands-on management, emergency response systems, and having the right team on speed dial.
  • Underwriting in Today’s Market: ZB3 is staying disciplined while others overpay. They’ve walked away from dozens of deals, focusing instead on long-term cash flow and operator-friendly financing structures.
  • Survive, Then Scale: Their thesis? “Survive 25. Fix in 26. Heaven in 27.” It’s about putting in the reps now so they’re in position to win when the next cycle turns.

Guest Information

Conclusion

Zach and Courtney’s story is proof that you don’t need to quit your job to scale a meaningful real estate portfolio. With discipline, a strong partnership, and a willingness to learn through experience, they’re building something special—one deal at a time.

Connect with Zach and Courtney on LinkedIn or visit ZB3 Real Estate to learn more about their journey and future projects.

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Domingo Valadez

DOMINGO VALADEZ is the co-founder at Homebase and a former product strategy manager at Google.

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