When Is the Right Time to Buy Real Estate? with Eric Bowlin - Episode 590
Investing in Real Estate with Clayton Morris | Investing for Beginners
Clayton Morris
4.1 • 1.1K Ratings
🗓️ 20 February 2020
⏱️ 27 minutes
🧾️ Download transcript
Summary
One of the most common questions new investors have is "when is the right time to invest?" And while there are varying opinions on this topic, most successful, long-term investors seem to take the same approach.
Today's guest, Eric Bowlin, has been in the real estate industry for over 10 years, and has over 480 units. On this episode of Investing in Real Estate, Eric is sharing his common-sense approach to timing the market. We'll discuss how to find the right deal, the ebbs and flows of the economy, and more!
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Transcript
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| 0:00.0 | When is the right time to invest in real estate? It's a question I probably get more than any other question. |
| 0:12.0 | E-mails, Instagram messages, text messages, who knows, |
| 0:16.0 | but I get that question an awful lot, |
| 0:18.0 | and that's what we're going to talk about today with my guest. |
| 0:20.0 | Eric Boland is an entrepreneur, real estate investor, Amazon best selling author who retired at the age of 30. |
| 0:26.4 | He bought his first property back in 2009. Maybe that was the best time to invest in real estate. |
| 0:31.5 | Maybe it wasn't. We're going to find out. And now he has over |
| 0:34.8 | 480 units of rental property. And Eric is my guest on the show today to talk about that and so much |
| 0:42.0 | more. Welcome to the Investing in Real Estate Show, my friend. |
| 0:45.1 | Hey, Clayton, thanks for having me. |
| 0:46.8 | Absolutely, great to have you here. |
| 0:48.4 | So give us a little backstory here. |
| 0:50.8 | How did you get started in real estate investing and you know we'll dive |
| 0:53.7 | deeper into this idea of like timing the market because I know you get really passionate |
| 0:57.8 | about it and so do I but take us back to maybe your first deal or what sort of got |
| 1:02.0 | you fired up about getting started in real estate investing. |
| 1:05.6 | Yeah, it was a total accident actually. I was trying to buy a home for myself. |
| 1:10.3 | If I remember correctly, there was a first-time homebuyer tax credit and I'm like, I'm going to get that. |
| 1:17.0 | But I couldn't qualify as a full-time student. I was working on my PhD in economics, which I actually never got, I dropped out to get into real estate later, but I wanted to buy a home and I couldn't qualify because I had a bunch of debt and a bunch of part-time jobs, no real income. |
| 1:34.0 | And then I discovered if you buy a small multifamily, |
| 1:38.0 | like a two, three, or four unit that it can help you qualify |
| 1:41.0 | because the extra rent gets out to your income for qualification purposes. |
... |
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