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.  

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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.