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Archive of Eric Drenckhahn

Eric is a 54 year old, soon to be former, computer professional. He started several years ago to replace his “work income”, with other alternate streams. He is well on his way to retirement at age 56, and is currently making more money at extracurricular activities, than he is working at his full time job. Whether that is Financially Independent, or just old fashioned entrepreneurial spirit, is in the eyes of the beholder.

Eric has written 19 articles for The BiggerPockets Blog.


Business Management & Productivity*

How to Get the Best Possible Tenants into Your Rental Property

by Eric Drenckhahn October 27, 2014
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When you have a vacant rental, you will inevitable have to advertise and fill it. And unless you are extremely lucky, you will not rent to the first person who inquires on your rental — or at least the first person will not likely be qualified to live in it. At some point, you will […]

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Business Management & Productivity*

Opinion: Allowing Smokers in Your Rental is Costly & Just Plain Dumb

by Eric Drenckhahn October 19, 2014
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Are you aware of the expenses associated with allowing someone to smoke in your rental? If not, you need to understand that a smoker will cost you at least 10% of your profits due to increased turnover costs and additional vacancy. That is an unscientific number, and I may venture to guess it may be […]

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Landlording and Rental Property Investing*

Your Complete Guide to Effectively Handling Tenant Evictions

by Eric Drenckhahn October 7, 2014
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If you have been a landlord for any length of time at all, the topic of evicting tenants is on your mind on a continual basis. If you have been doing the right things with your tenant screening, it is on your mind a lot less. If you need the rent to pay the mortgage on the […]

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Landlording and Rental Property Investing*

To Rent or To Buy: A Complete Analysis for Prospective Homeowners

by Eric Drenckhahn September 30, 2014
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The question to rent or buy a home is always a great one. There are many calculators on the web that compute all sorts of things, including depreciation, appreciation, tax deductions, etc. But none of these calculators factor in the flexibility of renting and the financial advantages you can have if you rent. If you rent […]

16 Read the full article →
Landlording and Rental Property Investing*

The Ultimate Comprehensive List of Tenant Red Flags

by Eric Drenckhahn September 21, 2014
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Do you know what tenant red flags you should be on the lookout for? When you are screening tenants for your rentals, it is pretty easy. You take an application, submit it to a screening company and wait for the results. You have pre-set tenant selection criteria, and you compare against the criteria. You let […]

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Real Estate Marketing*

How to Find Great Tenants Without Ever Meeting Them

by Eric Drenckhahn September 7, 2014
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I screen hundreds of renters every year for an apartment complex in an Homeowners Association (HOA). I see lots of background checks; our HOA is 95%+ a rental complex. I approve tenants — hundreds of them every year — without ever seeing or meeting them. I do not even call them. Of course after I […]

16 Read the full article →
Landlording and Rental Property Investing*

Protect Yourself As a Landlord With These 6 Crucial Documents

by Eric Drenckhahn September 3, 2014
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As with most jobs, a landlord’s job is not complete until the paperwork is done. A landlord needs to protect themselves with all sorts of documents. The days of renting a home on just a handshake are long gone. Instead, in today’s tenant-friendly states, you need proof of everything. That being said, great tenants do not need […]

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Landlording and Rental Property Investing*

Are You Still Struggling to find Great Tenants? Struggle No More!

by Eric Drenckhahn August 31, 2014
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As an owner/manager of 25 units, I am always on the hunt for quality tenants.  In 2014 alone, I have found and approved ten tenants for my units already. All with minimal or no vacancy.  It is about ten more than I like, but sometimes people have to move.  It is well above my average […]

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Landlording and Rental Property Investing*

How to Approve Tenants Without Meeting Them

by Eric Drenckhahn August 24, 2014
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I screen hundreds of renters every year for an apartment complex. I see lots of background checks.  I am going to show you how to approve tenants without ever meeting them.  I have approved hundreds of renters without ever seeing them.  Are you still stuck on seeing and meeting renters?  Give it up, it is […]

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Landlording and Rental Property Investing*

How to Get Higher Rents, the Hard Way!

by Eric Drenckhahn August 17, 2014
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If you are like most landlords or property managers, you are always looking for the highest rents, after all, no one I know shoots for the lowest rents. But there comes an amount where the rent exceeds the value of the property.  Once that happens, you would think that you would not be able to […]

9 Read the full article →
Market Trends, Data, News & Commentary*

Where is the Housing Market Headed?

by Eric Drenckhahn August 10, 2014
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As a long-term Real Estate investor, I am always trying to determine where the money is to be made in Real Estate.  I personally like passive income generated through being a landlord.  It’s not as passive as some would like, but it is passive in terms of the IRS. I write about the non-passive nature […]

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Landlording and Rental Property Investing*

Multifamily Landlords Are More Experienced Than Single Family Landlords

by Eric Drenckhahn July 28, 2014
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I have to disclose, I am a multifamily housing landlord. I have a biased opinion when it comes to whether a multifamily housing landlord is better than a single family landlord.  If you can use the analogy of college classes, multifamily housing landlord is like the person who took math and science classes.  Miss an […]

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Landlording and Rental Property Investing*

The 7 Dirty Truths about Landlording (Like it or Not!)

by Eric Drenckhahn July 14, 2014
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It’s not always fun and games when you are a landlord. Landlording is not always making large banking deposits and Caribbean vacations.  Sure, around the world trips often come with owning Real Estate, but you still need to earn it.  Here are some of the dirty truths about landlording. The 7 Dirty Truths about Landlording The […]

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Real Estate Investing Basics*

What Is Your End Goal in the Real Estate Game?

by Eric Drenckhahn June 28, 2014
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At some point, we all look forward to that time we can spend on the beach, in a hammock, or even working until you drop over dead. Most people want to get to a comfortable retirement plan, and be able to do what they want to do, with no one telling them when to go […]

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Business Management & Productivity*

The 8 Reasons Why Using Property Management Is a Waste of Time

by Eric Drenckhahn June 8, 2014
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This post is likely to rankle a few feathers, especially for the property managers out there. But first a disclaimer; I have 24 rentals that I manage and maintain myself. I manage and maintain a property for another person, and I have a real estate license. I even have a full-time job.  I have used […]

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