BP Podcast 198: Financial Freedom Through Small Multifamily Rentals with Eric Bowlin

7

How many rental units does it take to achieve “financial freedom?” Maybe not as many as you think! That’s the topic on today’s episode, where Josh and Brandon sit down to talk with Eric Bowlin, a real estate investor who achieved financial freedom at the age of 30, largely using the “BRRRR” strategy to finance his deals. Eric owns fewer than 30 units but was able to “retire” off the cash flow — and today, you’ll learn just how he did it (and how you can do the same). You’ll also love his tips on how to find great deals on the MLS and how to manage your properties — even if you don’t live close by. Be sure to take some notes on this one — you are going to need them!

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!

This Show Sponsored By

simplisafeCheck out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!

Try it today with a discount: simplisafepockets.com/

Fire Round Sponsor

limaoneLima One Capital is the nation’s premier lender for residential real estate investors. They make it easy to finance all of your rental properties and fix-and-flip projects.

Learn more by visiting LimaOneCapital.com/BP

In This Episode We Cover:

  • How Eric started accidentally in real estate
  • His epiphany moment!
  • What it’s like earning overseas
  • Things that cost him money on his early flips
  • A note on dealing with contractors
  • Why every market is unique
  • How he put together his team
  • Tips for finding contractors
  • How many units he has now
  • How to systematize your business
  • Using the BRRRR strategy
  • How he finds his deals
  • How to tell if a property has tenant problems
  • His best deal ever
  • His most recent multifamily property
  • And SO much more!

Links from the Show

Books Mentioned in this Show

Tweetable Topics:

  • “I just realized, I wanted people coming to me to pay me versus me trying to get money for somebody else.” (Tweet This!)
  • “I didn’t know about financial independence when I first got started.” (Tweet This!)
  • “A person only earns plus or minus 10% of what they think they’re worth.” (Tweet This!)

Connect with Eric

Show Preview

About Author

Thanks for checking out the BiggerPockets Real Estate Investing & Wealth Building Podcast. Hosts Joshua Dorkin & Brandon Turner strive to bring top-notch educational content and interviews to our listeners -- without the non-stop pitch prevalent around the industry. With over 80,000 listeners per show, the BiggerPockets Podcast has become the biggest real estate podcast in the world. But don’t take our word for it. We’re the top-rated and reviewed real estate show on iTunes — check it out, read the reviews on iTunes, and get busy listening and learning!

7 Comments

  1. Deborah Moser

    Great podcast! I would love to know more about how you foreclosed on a bank to take their dilapidated property. What department did you go to and have them assign you as the trustee??? I would love to do that in my town for some of the abandoned buildings that are just a magnet for squatters and trouble. Can you please share that method? Most importantly, thanks so much for sharing your story, and all the best to you!

    • Eric Bowlin

      It was through the states receivership program. They use the health and building codes to demand repairs. If repairs are not made, they appoint a “receiver” to do them. The receiver then gets a super-lien position over other lienholders.

      It’s not for everyone. It requires a lot of paperwork and time in court.

Leave A Reply

Pair a profile with your post!

Create a Free Account

Or,


Log In Here

css.php