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125: Self-Managing Properties to Running a Property Management Company with Colin Douthit
I am passionate about the real estate world and work in it in three different ways. First, I was an investor. Next, I started a property management company called Atlas Property Management. Most recently I co-founded a construction company called Atlas Construction.
In my first 18 months in real estate, I was able to acquire ownership or ownership stake in 65+ doors while self-managing them. This led me to start a property management company. Atlas Property Management is currently managing over 600 units and on track to be over 850 units by the end of 2020. Atlas Construction which was founded in 2020 will do $1M+ in rehab this year.
During college, I played football while gaining 3 engineering degrees leading me to a career as a professional engineer. Realizing that it wasn’t for me, I made the decision to leave the corporate world after 7 years, and start investing in real estate.
Today, when I’m not helping clients with their buy and hold investments, I enjoy helping others through sharing my faith. I am a husband and father of 2.
(00:01-03:29) Opening Segment
- Introduction of the host into the show
- Alpesh introduces the guest of the show, Colin
- Colin shared something interesting about himself
(03:30-21:40) Real Estate Investing Journey and Self-Managing Properties to Running a Property Management Company
- How Colin started investing in real estate?
- What was going through Colin's mind when he decided to self-manage his properties?
- How did Colin grow in self-managing his properties?
- System and Process Colin Set-up
- Software Colin use in self-managing properties
- Is self-managing properties recommendable if you invest in your backyard?
- Why Colin started a property management company
- The time Colin decided to build a property management company
- Changes in investment criteria after starting a property management company
- Best deal
- Worst deal
- Why Colin chose a construction company?
- Horror Stories about property management
- Do Colin purchase properties in areas where he had managed property in?
(21:41-21:59) Break
(22:00-22:09) Second Segment
- Welcoming listeners and guest back to the show
(22:10-23:34) Fire Round
- Will Colin change the business strategy after Coronavirus?
- Colin's favorite real estate, finance, or other related books
- Tool or website Colin recommends
- Colin's advice to beginner investors
- How does Colin give back?
- How can Wealth Matters Podcast listeners reach out to Colin?
(23:35-23:58) Closing Segment
Reach out to Colin by visiting his website https://atlas.rentals/ or visit his LinkedIn profile.
22:55 Don't try to cash flow the rehabs. Get the construction loan and bring a contract ahead of time.
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By Alpesh Parmar
5
6161 ratings
I am passionate about the real estate world and work in it in three different ways. First, I was an investor. Next, I started a property management company called Atlas Property Management. Most recently I co-founded a construction company called Atlas Construction.
In my first 18 months in real estate, I was able to acquire ownership or ownership stake in 65+ doors while self-managing them. This led me to start a property management company. Atlas Property Management is currently managing over 600 units and on track to be over 850 units by the end of 2020. Atlas Construction which was founded in 2020 will do $1M+ in rehab this year.
During college, I played football while gaining 3 engineering degrees leading me to a career as a professional engineer. Realizing that it wasn’t for me, I made the decision to leave the corporate world after 7 years, and start investing in real estate.
Today, when I’m not helping clients with their buy and hold investments, I enjoy helping others through sharing my faith. I am a husband and father of 2.
(00:01-03:29) Opening Segment
- Introduction of the host into the show
- Alpesh introduces the guest of the show, Colin
- Colin shared something interesting about himself
(03:30-21:40) Real Estate Investing Journey and Self-Managing Properties to Running a Property Management Company
- How Colin started investing in real estate?
- What was going through Colin's mind when he decided to self-manage his properties?
- How did Colin grow in self-managing his properties?
- System and Process Colin Set-up
- Software Colin use in self-managing properties
- Is self-managing properties recommendable if you invest in your backyard?
- Why Colin started a property management company
- The time Colin decided to build a property management company
- Changes in investment criteria after starting a property management company
- Best deal
- Worst deal
- Why Colin chose a construction company?
- Horror Stories about property management
- Do Colin purchase properties in areas where he had managed property in?
(21:41-21:59) Break
(22:00-22:09) Second Segment
- Welcoming listeners and guest back to the show
(22:10-23:34) Fire Round
- Will Colin change the business strategy after Coronavirus?
- Colin's favorite real estate, finance, or other related books
- Tool or website Colin recommends
- Colin's advice to beginner investors
- How does Colin give back?
- How can Wealth Matters Podcast listeners reach out to Colin?
(23:35-23:58) Closing Segment
Reach out to Colin by visiting his website https://atlas.rentals/ or visit his LinkedIn profile.
22:55 Don't try to cash flow the rehabs. Get the construction loan and bring a contract ahead of time.