Property Management Growth with DoorGrow DGS 46: Buy It, Rent It, Profit with Bryan Chavis
Do you come from humble beginnings? Only have a high school diploma? Want to own and operate your own apartment buildings and real estate firm? Anything is possible. Just ask Bryan Chavis!
Today, I am talking to Bryan, who is a best-selling author and founder of The Landlord Property Management Academy. He is the author and creator of one of the top online property management designation certifications. Also, Bryan has a blog for real estate professionals and is a property management coach for Keller Williams. He coaches real estate professionals and consults for large housing authorities.
You'll Learn...[02:35] Bryan’s background in multifamily real estate leading to a school and speaking. [05:40] From being a poor student to transitioning to be an entrepreneur. [07:37] Writing a manual while working on a job to figure out how things work in property management. [09:53] Building a brand, partnerships, and relationships to manage and own properties. [10:34] Absorbing, learning, and teaching property management. [12:08] Turning the manual into a book and more books. [16:13] Fundamentals was the focus of the first book: Buy It, Rent It, Profit! [17:04] Second Book: The Landlord Entrepreneur is a follow-up with additional details. [17:38] What Bryan is working on these days; buying, renting, profiting - practicing what he preaches. [18:18] 5 phases to become an owner and make money: acquisition, implementation, stabilization, growth, and exit strategy. [22:42] Acquisition: Understanding how to evaluate a property from an income approach, cash basis, and how to evaluate from an income approach. [22:57] Implementation: Hard and soft systems needed to operate properties; What systems am I using? How am I going to operate? [23:38] Stabilization: Maximizing income and minimizing expenses. [24:00] Growth: Growing the asset’s value. [24:06] Exit Strategy: Determine what you will do with a property. [24:47] Be an owner, not a steward. [25:94] Where to start to learn more - DoorGrow. [26:54] Advice for struggling entrepreneurs: restart and reboot. [27:19] How Bryan restarted and rebooted after medical issues; opportunities that help you grow as an entrepreneur. [28:58] Being passionate and making a difference. [32:50] Resilience, spirituality, and faith. [34:34] Is your business blessed to go where it needs to go? [35:55] Spending too much time on your business and becoming ineffective. [37:00] Client-centric vs. self-centric business; a life of purpose and meaning.
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ResourcesThe Landlord Property Management Academy
The Landlord Property Management Academy on YouTube
The Landlord Property Management Academy on Facebook
Buy It, Rent It, Profit! Make Money as a Landlord in ANY Real Estate Market
The Landlord Entrepreneur: Double Your Profits with Real Estate Property Management