Sep 22, 2021
Our guest is currently based in Omaha, Nebraska, and has invested in several markets since 2014.
We have Ben Klenk in today’s show. Once he discovered the FIRE movement and how financial freedom could be achieved through real estate, he put in the work, got himself out of debt, and gradually built his rental portfolio—all while having a family and a day job.
In this episode, Ben dives into
his first property, sharing lessons he learned from that deal. He
then explains why he likes multifamily properties and short-term
rentals. He also talks about investing in out-of-state properties
and how he became comfortable with it.
Tune in for tips and
advice on short-term rentals and becoming a long-distance
investor.
Key Takeaways
[01:43] About Ben’s background, how he got into real estate, and the FIRE movement
[05:04] What he learned after getting a 6-unit apartment building
[11:34] Having a hundred units sounds cool but it’s a lot of work, so if you want more time and freedom, aim for fewer units that generate more cash flow
[16:12] How Ben transitioned from Omaha to the Michigan market
[22:00] Surround yourself with people whose goals or values align with yours
[25:18] Having a team you trust is key to investing remotely
[27:48] Ben’s criteria for buying properties and how he finances them
[32:22] Trust yourself and find backup options to keep stuff moving along
Links
Ben Klenk’s email - ben.klenk@gmail.com
Living Off Rentals YouTube Channel - https://www.youtube.com/channel/UCRpWXe2mWqBm5vvbO2R2AdA?sub_confirmation=1
Living Off Rentals Facebook Group - www.facebook.com/groups/livingoffrentals
Living Off Rentals Website - www.livingoffrentals.com
Living Off Rentals Instagram - www.instagram.com/livingoffrentals