Turn Rentals into Mailbox Money Through Property Management with Colin Douthit
Colin Douthit is passionate about the real estate world and works in it in three different ways. First, as an Investor. Next, he started a property management company called Atlas Property Management. Most recently He Co-Founded a construction company called Atlas Construction. In his first 18 months in real estate, he was able to acquire ownership or ownership stake in 65+ doors while self-managing them. This led him to start Atlas Property Management which is currently managing over 700 units and is adding 75-100 units per month.
[00:01 – 05:21] Opening Segment
- I talk briefly about great values that await you in this episode
- Guest Introduction and background
- Getting into real estate and starting his own property management company
[05:22 – 23:13] Turning Rentals into Mailbox Money Through Property Management
- Tough lessons Colin learned as a property manager
- Navigating various eviction moratoriums during COVID
- Finding the right property managers as an out-of-state investor
- Setting reasonable expectations from asset managers
- The difference between value and cost
- Having the right team in place to proactively prevent or resolve unexpected issues
- Finding cash flowing deals
[23:14 – 27:48] Closing Segment
- Quick break for our sponsors
- What is the best investment you've ever made other than your education?
- Strategic partnerships
- What is the worst investment you ever made?
- Buying a package of 16 single-family homes with poor debt structure
- What is the most important lesson that you've learned in business and investing?
- Margin is important
- Connect with our guest. See the links below.
Tweetable Quotes:
“We can navigate the eviction process pretty efficiently when we have all the tools at our disposal.” - Colin Douthit
“Surrounding myself with the right people has been the best investment that has allowed me to have a lot of success.” - Colin Douthit
“Margin is important. Whether it’s running a property management company, a construction company, or having investment properties. Margins are what you live on.” - Colin Douthit
Resources:
- Atlas Property Management
- Rich Dad Poor Dad - Robert Kiyosaki
Connect with Colin on Linkedin or send him an email at [email protected]. Check out their website at https://atlas.rentals/
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