Building a $10M Real Estate Portfolio at 25 Using The “Wealth Formula”

Summary

In this episode of Multi-Family Mentor, Terence Doyle interviews Gabe Bowling, who shares his inspiring journey from dropping out of college to working for free in commercial brokerage, then at Cardone Capital where he raised over $100 million. Gabe's transition to establishing Bowling Capital, owning over $10 million in real estate, and his approach to goal setting and wealth building through disciplined income generation, saving, and investing in income-producing real estate are highlighted. His emphasis on taking responsibility for one's actions and the importance of a long-term, strategic approach to success resonate throughout the discussion.

Takeaways

• 😀 Terence Doyle introduces Gabe Bowling, emphasizing his impressive background and journey from working for free to owning over 10 million in real estate.
• 🎓 Gabe Bowling dropped out of college and chose to work for free to gain experience in commercial brokerage, which he leveraged to work for Cardone Capital.
• 💼 Gabe's experience at Cardone Capital involved making numerous calls to accredited investors, where he honed his skills in raising capital and fell in love with multi-family real estate.
• 💡 The importance of taking responsibility for one's life and goals is highlighted, as Gabe shares his mindset shift from life happening 'to' him, to him making things happen.
• 🏆 Gabe's success at Cardone Capital is attributed to his disciplined approach to wealth accumulation, focusing on income generation, expense management, and investing in income-producing real estate.
• 🚀 Gabe's decision to leave Cardone Capital to start Bowling Capital was influenced by his clear five-year goals and the belief in his ability to replicate the success he had as part of larger deals.
• 🔍 The process of finding his first deal involved building a solid foundation of investor relationships and partnering with an experienced sponsor to overcome his initial limitations.
• 📈 Gabe's first deal with his new company exceeded five-year projections in the first quarter, demonstrating the effectiveness of his strategies and the value of his experience.
• 🎯 Gabe's five-year goal is to manage a billion dollars in assets, which he has broken down into quarterly targets, emphasizing the importance of setting and working towards measurable objectives.
• 📚 He emphasizes the value of continuous learning and education in real estate, especially for those starting out, and offers free content on his website and YouTube channel.
• 🌐 Gabe encourages building relationships and networking, as he did with investors and sponsors, which was crucial for his transition from employee to business owner.

Q & A

What was the reason behind Gabe Bowling working for free initially?

Gabe Bowling worked for free to gain experience and leverage it into a better position. He didn't have a degree or experience, so he chose to work for free to quickly gain the necessary experience and leverage it for future opportunities.

How did Gabe Bowling's experience working for free benefit him in his career?

Working for free allowed Gabe to gain foundational knowledge in underwriting and real estate, which later helped him to confidently transition to working at Cardone Capital, one of the largest real estate companies, and eventually to start his own venture, Bowling Capital.

What is the wealth formula that Gabe Bowling adopted and how does it work?

The wealth formula Gabe adopted involves three steps: 1) Focus on producing income, 2) Store all earned money in sacred accounts that you can't touch, and 3) Invest the stored money into income-producing real estate that appreciates over time. This formula emphasizes growing income, living below your means, and investing wisely for long-term wealth creation.

How did Gabe Bowling's mindset shift from working for free to working at Cardone Capital?

Gabe's mindset shifted from being a victim to taking full responsibility for everything that happens in his life. This change in mindset allowed him to be proactive and make decisions that aligned with his goals, leading him to work at Cardone Capital and later to start his own business.

What was the process Gabe Bowling went through to leave Cardone Capital and start Bowling Capital?

Gabe went through a decision-making process where he weighed his options and goals for the next five years. He considered the quality of life, work hours, and financial prospects. After a clear vision of what he wanted, he decided to take the risk and start Bowling Capital, leveraging the skills and experience he gained from his previous roles.

How did Gabe Bowling approach his first deal after leaving Cardone Capital?

Gabe first built a foundation by creating a list of investors and potential partners before even looking for deals. Once he had a network in place, he identified a deal that fit his criteria, partnered with a sponsor who could provide the necessary equity, and successfully closed the deal.

What is Gabe Bowling's five-year goal and how does he break it down into actionable steps?

Gabe's five-year goal is to have a billion dollars of Assets Under Management (AUM). He breaks this down into quarterly targets, calculating the amount of equity he needs to raise and the number of investors he needs to engage with on a monthly basis to achieve his quarterly and ultimately his five-year goal.

How does Gabe Bowling define success in the context of his career journey?

Gabe defines success as achieving small wins compounded over a long period of time. He believes in the power of consistent effort and having a clear path to achieve his goals, rather than seeking quick riches.

What advice does Gabe Bowling give to people who are stuck in their current jobs and want to transition into real estate?

Gabe advises people to take action, create a clear path to their goals, and not be afraid of taking risks. He emphasizes the importance of having a game plan, being proactive, and taking responsibility for one's own life and career.

How can people get in touch with Gabe Bowling and learn from his experiences?

People can reach out to Gabe Bowling through his website gaybowling.com and follow him on Instagram at @multifamily. He offers free educational content and insights on multi-family real estate investment.