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Your Financial Pharmacist

Dec 18, 2021

Eric Geyer of Political Pharmacist details his last decade in real estate and shares how to scale your business from house hacking to making passive income.

Key Points From This Episode

  • Get to know our guest, Eric, and his pharmacy story.
  • Hear about his first buy in 2010 and how the ball started rolling from there.
  • Eric shares some of the challenges of their second buy; a 10-unit apartment building. 
  • Using pharmacy skills to do the math, and the difficulty of getting a commercial loan. 
  • He shares a problematic thing he quickly discovered when buying commercial property.  
  • Outlining the financial details of their loan and how they made it work.
  • How and why the banks view the property as a business.
  • One thing Eric recommends doing that provides legal protection.
  • The different skill sets of Eric and his partner, and the importance of having your team to back you up.
  • Some technology organizational tools that they used. 
  • When you should hire a property manager, and when you can do it on your own!
  • How they sold the second property, and the process of upgrading to a bigger building. 
  • What a triple net lease is, and the balance of profitability versus time and effort. 
  • The third property purchase, and a bit more about amortization and early penalties. 
  • What Eric's next goal is. 
  • Eric shares a tangible strategy for making sure your investing works with your pharmacy career.
  • Eric's top resources and some great advice that helped him on his successful journey. 

Links Mentioned in Today’s Episode