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Rental Income Podcast With Dan Lane

Building A Rental Portfolio As A Retirement Plan With Drew Eldridge (Ep 127)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.8836 Ratings

🗓️ 26 September 2017

⏱️ 24 minutes

🧾️ Download transcript

Summary

Drew talks about how he has been building his portfolio not to provide him with cash flow today, but to provide him cash flow during retirement. He also talks about how he is teaching his son about real estate, and how he recently helped his son by his first rental.

Transcript

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0:00.0

Inspiring interviews with today's top landlords.

0:05.2

This is the rental income podcast.

0:08.3

And now, Dan Lay.

0:10.3

Drew Eldridge from Oklahoma City is joining us on the podcast today.

0:14.3

Drew has a great story.

0:15.9

He's not buying properties for cash flow today.

0:18.5

He's buying properties and thinking of them as his retirement plan

0:22.9

that are going to produce some cash when he decides he doesn't want to work anymore. He started

0:27.4

off buying properties really conservatively, maybe buying a house a year to kind of prove to himself

0:33.2

that this actually worked. And in the last year, he has totally been sold and has totally fallen in love with

0:39.0

rental properties.

0:40.0

And he has picked up nine properties in the last 12 months.

0:43.4

I think that's absolutely incredible.

0:45.4

So let's take a real quick break.

0:47.3

We'll come back in 30 seconds and we'll meet Drew.

0:50.3

Hey, Drew, welcome to the podcast.

0:51.8

So what got you first interested in buying rental properties?

0:56.6

Well, thanks for having me on, Dan. I appreciate it. You know, I was around 30. I had just finished

1:04.6

medical school and then a residency and emergency medicine. And I'd gone from spending my 20s, making no money, working all the

1:13.9

time, to now I'm 30 with the prospect of actually starting to have a decent income. And I had no

1:21.0

idea what to do with it. In medical school, they really don't teach us anything about business.

1:25.8

And so as I started to do a little research, I looked up and said,

...

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