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

In This Article

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.

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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.

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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

Note By BiggerPockets: These are opinions written by the author and do not necessarily represent the opinions of BiggerPockets.