#52: Owning Your Own Property Management Company with Colin Douthit
Colin Douthit started as an investor and spent 24 months purchasing and managing his own assets. Then he started the management and construction companies to help in servicing their out of state investors. He now manages over 300 doors and has multiple multifamily renovations and repositioning projects in process for investors. Colin and I discuss how you can create your own property management company.
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Owning Your Own Property Management Company with Colin Douthit
Colin had the entrepreneurial bug and after working 7 years in the Engineering field he decided he wanted to do his own thing. Colin quickly had a 7-unit property under contract... but not before he was fired from his job. With a will to win, Colin did what was necessary to make sure he closed on his first property.
From his first property, Colin started to buy a few more properties and began getting into partnerships. As his portfolio began to grow to over 60+ units, Colin decided to start his own property management company. Colin has learned a lot about managing his own property management company and is excited to share it with the Multifamily Investing Academy audience!
In this episode you'll also learn:
- How to deal with partners
- The prerequisites to become a property manager
- How Colin's company is dealing with the effects of COVID-19
- The systems Colin has put in place to allow his property management company to run successfully
- Why you think should think about including a common area maintenance fee in your rental agreements
Connect with Colin:
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