BTM 50: Building A MultiFamily Empire with Eric Bowlin
Eric 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.
Eric Bowlin started investing in real estate in 2009 with the purchase of his first three family property. He got into real estate full time at the end of 2011 and became financially independent at the end of 2015 when he quit his job forever.
Now, Eric is working on larger multifamily deals and syndications. He owns or is a GP on over 470 doors in Massachusetts and Texas. Also, Eric talks constantly about financial independence and is the founder of IdealREI (a top resource for real estate investors trying to achieve financial freedom) and Stacking Millions (a community where investors can learn and grow together).
Key Points From This Episode:
- How Eric went from full-time student to building a multifamily empire
- The story of him convincing his wife during a deployment to start to invest in real estate
- Importance of taking action and why you shouldn’t let people caution you away from investing
- The Differences between real estate business vs. real estate investing
- How Eric found his niche in real estate investing
- The break down of his process of finding deals, talking to owners and creating offers
- What steps Eric took to escape the rat race
Links Mentioned in Today’s Episode
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BTM 36: Buy Your 1st (Next) Real Estate Investment: The 12 Step Process
Buy Your 1st (Next) Real Estate Investment: The 12 Step Process.
In this episode we walk through the exact steps that I teach my coaching students to ensure that they close on their first property this year. I know you are thinking that this is too good to be true – but believe it! I want to make sure that as many people who are looking for a process to follow are equipped with the know how to purchase their first rental investment in 2018.
Here are the steps:
1. Real Estate Literacy
2. Goal Setting (SMART Goals)
- Lifestyle Goals
- Financial Goals
- Real Estate Investment Goals
3. Choosing A Market
- Types of Markets
- Growth Market
- Stable Market
- Declining Market
- Top-Down Approach
- Economic Factors
- Real Estate Factors
- Regulator Factors
- Local Market Factors
- Investing Locally or Remote
4. Analyzing Deals
- In Depth Analysis
- General Rules of Thumb
- 50% Rule
- 2% Rule
- 70%Rule
For steps 5 through 12 along with 1-4 above, we have created a detailed 12 Step Process write up for your ease…
Simply click here to opt in our newsletter where the detailed 12 Step Process will be one of the first emails that you receive as we’ll be emailing you the best tips, tricks and strategies weekly to help you on your investing journey.
Links mentioned in the show:
Rich Dad Poor Dad by Robert Kiyosaki (Physical Copy)
4 Hour Work Week by Tim Ferris
One on One Coaching with Daray
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Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.
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BTM 02: $50 Million Dollar Rental Portfolio and the A-Team Behind it with Reed Goossens
On today’s show we’re speaking with Reed Goossens. Reed is a serial real estate entrepreneur and founder of RSN Property Group. As a native Australian, Reed moved to the US to pursue his investing career. As a qualified structural engineer and project manager, Reed has been involved with construction and real estate since 2007. Reed’s expertise includes project management, property development, and key stakeholder management. Reed has been involved in the development and acquisition of over $500 million in real estate and infrastructure across Australia, North America, Europe, and South East Asia.
After gaining valuable experience working in the engineering and construction industry, Reed decided to pursue his passion for real estate development and investing by starting RSN Property Group. Throughout recent years Reed has developed his personal portfolio of solid cash flow investment properties. He believes now is the time to enhance and utilize the power of syndication investing to purchase apartment communities. Reed’s commitment to the development of a structured, systemized approach to researching, acquiring and managing investments provides the basis for RSN’s sound operating system.
Key Points From This Episode:
- Reed tells us about his journey from student, to engineer, to successful entrepreneur .
- Hear how the book Rich Dad, Poor Dad has been a big motivator in Reed’s life.
- Find out how Reed closed his first deal on a triplex.
- Understand what Reed learned from his first deal and the team he used.
- Learn how a move to commercial real estate and scaling was more beneficial for Reed.
- Find out more about the components of a successful team.
- Hear some of Reed’s suggestions on finding a good broker.
- Discover how Reed sculpted his entrepreneurial journey through his daily goals.
- Understand why, as a real estate agent, you need to know how to hustle.
- Why Reed believes that getting a mentor is another way of investing in yourself.
- Hear what sacrifices Reed had to make in order to get to where he is today.
- Find out why Reed’s mentor is key to his success.
- Understand why people underestimate the amount of work it takes to grow a business.
- And much more!
Tweetables:
[spp-tweet tweet=”“There’s no such thing as get rich quick.” — @reedgossens “]
[spp-tweet tweet=”“Real estate investment is a team sport.” — @reedgoossens “]
[spp-tweet tweet=”“I’m more afraid of regret than I am about failing, if I give it a try.” — @reedgoossens “]
Links Mentioned in Today’s Episode:
Connect with Reed on Instagram
Reed’s Favorite Books:
Rich Dad, Poor Dad by Robert Kiyosaki
Rich Dad’s CASHFLOW Quadrant: Rich Dad’s Guide to Financial Freedom
The 4-hour Workweek by Tim Ferriss
Access The Best Strategies, Tips & Advice!
Every week, we send an email sharing my best advice, tips and strategies related to Real Estate Investing. Each of these weekly emails contain relevant and actionable information that can help you no matter where you are in your investing journey.