251: 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. 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 Learn more about your ad choices. Visit megaphone.fm/adchoices