EP 232: The Firefighter's Path to Passive Income and Real Estate Success with Eric Burns

The Gentle Art of Crushing It!

Eric Burns is a Cincinnati-based entrepreneur. His journey has taken him from being a finance major to a Cincinnati Firefighter to a residential real estate investor and flipper to finally landing in commercial real estate. He values his journey and believes in the entrepreneurial spirit. His message to fellow entrepreneurs is simple, STOP TRADING YOUR TIME FOR MONEY and LIVE LIFE BULLISH. Like many, Eric started his real estate investment career in the residential space and expanded into the commercial arena. His first property was a student housing rental in 2016, while he was still active with the Cincinnati Fire Department. Later, he expanded into renovations, and eventually, after many years of growth, education, and “failing forward”, Eric found himself in the commercial space.Eric’s story is similar to many entrepreneurs’ as he has navigated ups and downs with successes and failures in his entrepreneurial journey. As it turns out, it was during a less-than-ideal renovation when he realized, after years spent starting side hustles and residential real estate, that he was still only trading his time for money! As a believer in financial freedom, Eric leaned into commercial real estate and found a path to lead him to that destination. To that end, Flowers Capital reflects Eric’s fundamental philosophies of sourcing and funding deals. Priorities include, firstly, the preservation and growth of investor capital. As a strong proponent of multiple, passive sources of income and protecting the commodity of time, he believes financial freedom is achievable through commercial real estate investment. Flowers Capital is fully intent on achieving those goals for its investors. Eric considers himself a life-long learner. He believes in the entrepreneurial spirit and understands the realities of that life path. His greatest strengths include curiosity, personal accountability, and resilience. Real estate investing is truly a labor of love for Eric, but he also thoroughly enjoys fly fishing, traveling, and his Labrador Retriever, Baron.

Summary

In this episode of the Gentle Art of Crushing It podcast, host Randy Smith interviews Eric Burns, founder of Flowers Capital. They discuss the current market conditions for passive investors, Eric's journey from active real estate investing to capital raising, and the importance of due diligence in selecting deals. Eric shares insights on navigating market cycles, building relationships with operators, and the significance of believing in the deals presented to investors. The conversation emphasizes the goal of achieving financial freedom through passive income and the evolving strategies in the real estate investment landscape.

Chapters

00:00 Introduction to Passive Investing and Market Conditions

02:59 Eric Burns' Journey to Capital Raising

05:59 The Transition from Active to Passive Investing

08:49 Understanding Capital Raising and Deal Structuring

12:03 The Importance of Due Diligence in Investments

15:00 Navigating Market Cycles and Operator Relationships

17:47 Future Goals and Strategies for Financial Freedom

RANDY SMITH

Connect with our host, Randy Smith, for more educational content or to discuss investment opportunities in the real estate syndication space at www.impactequity.net, https://www.linkedin.com/in/randallsmith or on Instagram at @randysmithinvestor