Replacing Your Income with Real Estate as a DIY Landlord with Eric Drenckhahn

How do you build up an arsenal of relevant landlording knowledge? Through hands-on experience. Eric Drenckhahn is a “DIY landlord” who has managed his mid-sized portfolio for years and who has come across countless maintenance and landlording issues. Join us in picking his experienced mind across a myriad of real estate issues and learn how to become a successful DIY landlord.

Click here to listen on iTunes.

Listen to the Podcast Here

Watch the Podcast Here

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!

This Show Sponsored By

We just wanted to give a shout out to our podcast sponsor on today’s show: RealtyShares. RealtyShares is a crowdfunding platform that allows you to invest in professionally managed properties without leaving your living room!

Learn more by visiting RealtyShares.com/biggerpockets!

Fire Round Sponsor

Check out Freddie Mac, the leader of multi-family financing, they make homeownership and rental housing more accessible and affordable.

Get a quote today by visiting: freddiemac.com/smallloan

In This Episode We Cover:

• How Eric got started investing in real estate
• Thoughts on buying properties for what they’re worth
• The reason he waited for 8 years before investing again
• Why the real estate crash didn’t hurt him
• Tips for determining your CapEx
• How to become a DIY maintenance landlord
• A discussion on DIY vs. hiring it out
• What you should know about managing properties
• Instances where doing it yourself goes a long way
• What’s next for with Eric
• And SO much more!

Links from the Show

• BiggerPockets Forums
• BiggerPockets Calculators
• LoopNet

Books Mentioned in this Show

• Set for Life by Scott Trench
• Emerging Real Estate Markets by David Lindahl

Fire Round Questions

• Who is responsible: tenant or landlord?
• How much do you collect as a holding deposit/fee, and what do you call it?
• What do your unit turnovers actually cost?
• Refinish hardwood or install LVP?
• Best flooring for a rental?

Tweetable Topics:

• “To make money, you need to have positive cash flow.” (Tweet This!)
• “Landlord can weed out the simple things.” (Tweet This!)
• “Managing property is no problem.” (Tweet This!)

Connect with Eric

• Eric’s BiggerPockets Profile
• Eric’s Personal Website

Eric’s Photos