195 - Eric Bowlin - Building an Investment Portfolio
Wanna build your investment portfolio? Eric Bowlin, a real estate investor and coach, shares how he began making passive income while in college. He talks about investment strategies and why he lives in Puerto Rico for part of the year. Listen in as Eric gives some valuable advice for others who would like to invest in real estate - and learn what excites Eric and makes it all worthwhile for him. Please subscribe to this podcast in iTunes or in the Podcasts App on your phone, and never miss a beat from Leigh by visiting leighbrown.com. If you’re tired of doing real estate alone, enroll in Leigh Brown University and be sure to use your special “CSIRE” discount code at checkout for $10 off your subscription. Time Stamped Show Notes 01:45 – Introducing Eric, a REALTOR® who is full-time in Puerto Rico and part-time in Texas 02:00 - He started in real estate accidentally at 24 years old because he wanted to buy a home; he ended up buying a three-family unit 02:55 - He decided that he wanted money to come to him; he was a student and reservist in the army so rent payments changed his life 05:30 – On his first property sold as an agent 05:47 - He sold the property to a couple and felt bad selling it to them knowing there was another option 06:10 - The rent from his other properties now pay for his home; he has leveraged up to it 06:50 – On the challenges with having tenants 07:00 - Massachusetts is very tenant-friendly; you have to know what you’re doing and use that to your advantage 08:20 – On living in Puerto Rico 08:25 - He rents a place in Puerto Rico and lives there for six months and a day for the tax benefits 08:40 - He buys small properties in Massachusetts, has some larger projects in Texas, and has partners in other markets 10:00 – Eric’s advice for others who would like to invest 10:20 - Find a niche and stick with it; don’t try to be in every niche and don’t jump from thing to thing 10:50 - HIs goal is lifestyle-based; he wants to keep his lifestyle and is in the process of selling some of his smaller stuff 11:40 - He wants to maintain 10-15 assets and wants to sell smaller assets for larger ones 12:00 - He offsets his taxes by putting into a 401k; he has two portfolios, one personal one and one with partners 13:05 – What excites Eric 13:45 - He loves talking about real estate; he’s motivated by the freedom real estate investing gives him and is authentic 14:05 – How to contact Eric: www.idealrei.com 3 Key Points Diversify! All markets are different, so make sure you know what you’re doing. You can be successful in any niche, not every niche.