#87 with Devan McClish: Scaling to 21 Units and Building a Successful Property Managment Business

Millennial Millionaire Real Estate Podcast

English - October 05, 2020 18:23 - 41 minutes - 76.8 MB - ★★★★★ - 56 ratings
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Previous Episode: #86 with Tiffany Alexy: How to Househack, Scale to 12 Units & Build a Successful Brokerage Business

Next Episode: #88 with Zeona McIntyre: How to reach Financial Freedom in Two Years Through Short Term Rentals

In this episode, Jonathan Farber interviews Devan McClish on his journey from starting off under the guidance of a successful mentor to having experience in a vast array of real estate niches. Devan is a multitalented investor based in Nashville, Tennessee. In this episode, we get into topics like: getting into real estate small, managing your own properties, utilizing creative financing, and more!

Top Takeaways:

Starting real estate with hardly any resources - 10:30 - 12:45

Find a developing neighborhood and look for run down, unattended houses

Write asks by hand and send them out, much cheaper than paying for a mail campaign

Networking events are your hub to connect with more experienced professionals

The draw of being a property manager - 15:00 - 17:20

Property managers get paid first

Property management is high margin, with few staff required

It only requires a real estate license

Taking advantage of creative financing - 29:30 - 32:45

Owner financing allows you to buy without a bank but also without all the cash on hand

The seller becomes the bank and you repay them over time