198: Financial Freedom Through Small Multifamily Rentals with Eric Bowlin

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 estateHis epiphany moment!What it’s like earning overseasThings that cost him money on his early flipsA note on dealing with contractorsWhy every market is uniqueHow he put together his teamTips for finding contractorsHow many units he has nowHow to systematize your businessUsing the BRRRR strategyHow he finds his dealsHow to tell if a property has tenant problemsHis best deal everHis most recent multifamily propertyAnd SO much more!Links from the ShowBRRRR StrategyBiggerPockets WebinarBiggerPockets Blogs4 Reasons You’ll Never Find a Good Contractor (Insight From an Investor/Contractor) (blog)BiggerPockets Pro ReplayBiggerPockets ProBiggerPockets ForumsUltimate Beginner’s Guide to Real Estate InvestingJosh’s Twitter AccountBrandon’s Twitter AccountBP Podcast 007: Making Appraisals Work For You with Ryan LundquistBooks Mentioned in this ShowRich Dad, Poor Dad by Robert KiyosakiThe Successful Landlord by Maribeth PerryThe Psychology of Selling by Brian TracyTweetable 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 EricEric’s BiggerPockets ProfileEric’s Twitter ProfileEric’s WebsiteEric’s BiggerPockets Author Profile

Episode 198 of the BiggerPockets Real Estate Podcast podcast, hosted by BiggerPockets, titled "198: Financial Freedom Through Small Multifamily Rentals with Eric Bowlin" was published on October 27, 2016 and runs 59 minutes.

October 27, 2016 ·59m · BiggerPockets Real Estate Podcast

Summary

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 Learn more about your ad choices. Visit megaphone.fm/adchoices

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