Are you a hands-on person who is intimidated by the idea of buy and hold real estate? Today’s guest, Eric Miller, is here to share how he decided to take the plunge into real estate investing.
On this episode, Eric joins us to talk about his success with buy and hold real estate. We discuss all the details, from insurance and financing, to being a respectable landlord. It’s all here on the Investing in Real Estate Podcast!
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Eric was an early investor in real estate; he bought his first rental property from his neighbor when he was still college. Although he didn’t have a job or much money, the deal went through. Eric became a homeowner at the age of 19.
He lived in this property for a few years, and rented a room to a friend to make some extra money. After he graduated, he sold the property to a friend.
However, this was not the end of Eric’s real estate ventures. When he moved to Chicago, he and his wife purchased a condo. But soon after, Eric’s family began to grow, and he needed more space.
He then moved to the suburbs, but instead of selling his condo, he decided to rent it out. Due to an association change in the community, Eric no longer owns this property, but he keeps busy with plenty of other real estate investments.
Eric has partnered with his father to purchase a commercial building. He has also partnered with some friends, with whom he owns real estate properties in Northwest Indiana.
His real estate business transformed when he heard about how he could calculate his Freedom Number to create passive wealth. This inspired him to break outside of his comfort zone.
In Eric’s most recent venture, he began to look outside of his own market. Today, he purchases properties in Indianapolis.
On today’s show, Eric and I discuss how he went from being a DIY landlord to a turnkey investor, the importance of little investments in running a long-term business, and he also shares his perspective as an insurance agent.
If you’re feeling inspired by Eric’s success investing in real estate, I want you to know you can replicate his success.
On this episode you’ll learn:
- How Eric purchased his first property with no money down.
- What is a home equity line of credit, and how can it help you jumpstart your business?
- How Eric balances real estate investing with his day job and family life.
- The benefits of running your business under an LLC.
- A discussion on choosing a real estate insurance policy.
- And much more about buy and hold real estate!