198: Financial Freedom Through Small Multifamily Rentals with Eric Bowlin | Bigger Pockets Podcast
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!
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
BRRRR Strategy
BiggerPockets Webinar
BiggerPockets Blogs
4 Reasons You’ll Never Find a Good Contractor (Insight From an Investor/Contractor) (blog)
BiggerPockets Pro Replay
BiggerPockets Pro
BiggerPockets Forums
Ultimate Beginner’s Guide to Real Estate Investing
Josh’s Twitter Account
Brandon’s Twitter Account
BP Podcast 007: Making Appraisals Work For You with Ryan Lundquist
Books Mentioned in this Show
Rich Dad, Poor Dad by Robert Kiyosaki
The Successful Landlord by Maribeth Perry
The Psychology of Selling by Brian Tracy
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
Eric’s BiggerPockets Profile
Eric’s Twitter Profile
Eric’s Website
Eric’s BiggerPockets Author Profile
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