Building a Multi-Family Empire With Eric Bowlin
- Written by Laura Fiebert
Today the guys talk to Eric Bowlin, a successful multi-unit real estate investor from Texas about how he created his real estate empire by the age of 30.
He accidentally got into real estate back in college when he and his wife decided to buy a house near the University. They purchased a 3 unit building, living in one unit and renting the rest. One night while watching a movie with his wife, he heard a knock on the door.
It was one of their tenants there to pay rent. At that moment he realized that I would become a real estate investor. That was the easiest money he had ever earned in his entire life.
At that moment he realized that I would become a real estate investor. That was the easiest money he had ever earned in his entire life.
Eric now owns 26 units making him about 130K per year and he and his family have achieved financial freedom. He sacrificed a lot to get to where he is today, and never stopped planning, preparing, and learning.
Eric talks to a many people who have said “I’ve always wanted to invest in real estate, but…” and he wants to help educate others on what real estate investing actually is and move past the misconceptions.
You don’t need a ton of money to buy property. Of course, you need some capital to get started in real estate investing, but not as much as you think. There are many turn-key companies like Roofstock that have affordable properties with excellent returns.
Investing is not land lording. Investing is actually buying and holding the property for rent and (hopefully) appreciation. You do not have to be a property manager, you will hire one so don’t get all wrapped up in the “I don’t want to fix leaky toilets” mentality. And, real estate investing isn’t flipping. Flipping homes for profit is a completely different business.
Real estate isn’t really that risky. Yes, it is an illiquid asset but otherwise, it is a quite stable market. If you take the time to learn the ins and outs of the real estate market you will make good decisions and investments with great returns. Spend a lot of time finding a good market to invest in.
It probably won’t be in your own neighborhood so you’ll need to do your market research on demographics, crime, schools, vacancy rates, and percentage of renters in a neighborhood.