It almost sounds like a fairy tale… A 19-year-old kid buys a dying business on credit, makes a profit on it, then uses all his earnings to invest in real estate. By the time he’s 33, he owns 700 units, lives a totally fulfilling life, and isn’t slowing down yet.
This is my man, Eric Eickhof. He might be young, but he’s wise, hungry, and as seasoned as anyone in the investment game. This week, I sat down with Eric to discuss how he got started in investment real estate and how you could too. We talk about:
- Opening deals through creative conversation
- What to look for when you decide to buy
- Mistakes Eric made along the way
- Growing your portfolio in a market being eaten up by hedge funds
This knowledge is invaluable to you, but when you boil it down, Eric’s main point here is to just act without fear. You’ll want to watch or listen immediately, and maybe even give this to your teenager or 20-something kids.
In this episode, we discuss…
1:11 – Eric’s backstory
4:45 – Eric sells his first apartment building
9:14 – Why agents should work with investors
11:01 – Getting started
15:33 – Build up a list
17:13 – Events and networking
19:49 – Eric’s events
27:22 – Looking for the path of progress
32:00 – Investing mistakes to avoid
35:08 – Red flags
39:08 – How to do it right
43:40 – Hedge funds vs the little guy
45:42 – Making a property more valuable
49:25 – Cost segregation study
52:20 – Learn from Eric
