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The Best Ever CRE Show

JF1267: How To Successfully Self-Manage As A DIY Landlord with Eric Drenckhahn

The Best Ever CRE Show

Best Ever CRE

Business, Investing, Entrepreneurship

4.7996 Ratings

🗓️ 20 February 2018

⏱️ 30 minutes

🧾️ Download transcript

Summary

Eric left his 6-figure IT job to pursue real estate full time a few years ago. Now he owns properties and prefers to manage them himself. Today he tells us his best ever tips for managing investment properties. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review.   Best Ever Tweet: “It all depends on where you’re at in your life and what your true opportunity cost is” - Eric Drenckhahn   Eric Drenckhahn Real Estate Background: -A "DIY landlord" who has managed his mid-sized portfolio for years since 2000 -Left his full-time 6-figure IT job to pursue real estate and travel -Purchased 5 fourplexes and a single-family home, a couple more flips, either as an investor or in the rehab -Single-family home at a sheriff’s sale that was redeemed away from me. -Currently focusing on doing a 1031 exchange to a Florida property -Say hi to him at http://www.nononsenselandlord.com/ -Based in St. Paul, Minnesota -Best Ever Book: The Art of the Deal     Made Possible Because of Our Best Ever Sponsors:Are you looking for a way to increase your overall profits by reducing your loan payments to the bank?Patch of Land offers a fix-and-flip loan program that ONLY charges interest on the funds that have been disbursed, which can result in thousands of dollars in savings.Before securing financing for your next fix-and-flip project, Best Ever Listeners you must download your free white paper at patchofland.com/joefairless to find out how Patch of Land’s fix and flip program can positively impact your investment strategy and save you money. Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0

Did you know that within a decade women will hold $30 trillion in investable assets?

0:05.3

Yet somehow only 19% of women reported feeling confident in selecting investments that align

0:11.0

with their long-term goals. Our friends at Invest Her are out to change. that and it's happening June 2nd through the 4th in Austin, Texas.

0:23.0

InvestHERCON is not just another real estate conference.

0:27.0

It's a transformational experience focused on real estate investing,

0:31.0

business strategies, and self-care tactics, all designed to help women take

0:35.5

control of their financial futures. Gain the knowledge and skills you need to grow

0:40.0

your portfolio and build a sustainable business all while connecting with over 500 women who are playing at the same level.

0:48.0

To learn more and to get your tickets, visit InvestHERCON.com today and use the code 100 best ever to get $100 off your ticket.

0:56.6

That's Invest Her, H-E-R-K-D-K-G-G-G-O-K-G-K-G-O-K-K-O-K-O-K-O-Kom,

1:00.6

Prom best ever to get $100 off your ticket.

1:05.0

I don't think there's an investor ever that bought a property that wasn't nervous about it.

1:10.0

So if you're nervous about a property, it's right.

1:12.0

You're going to be. Don it's right. You're gonna be.

1:12.7

Don't be afraid because they're all married.

1:15.3

Best ever listeners before we jump into today's episode.

1:18.0

Got two questions for you, and this is for my fix and flippers out there.

1:21.2

One, are your financing costs eating at your bottom line and two, are

1:25.4

you looking for a way to increase your overall profits by reducing your loan payments to the

1:29.7

bank or private lender? Of course you are right, but you're always looking to maximize the potential of your deal.

1:36.0

So here's a solution. We got a solution for you through the crowdfunding platform Patch of Land.

1:41.0

If you're loyal Best Ever listener, you know Patch of Land. They've been on the show many times. They've sponsored the show many times. They're back for more because they love you. They want to help you out. They want to add value to your life. And here's how they're going to do it they have a

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