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Today's show walks you through h' rel='nofollow' target='_blank'>380: Profitable Landlording in a Crisis with Mike Butler, Chris Clothier, and Dave Poeppelmeier
BiggerPockets Real Estate Podcast - Apr 30, 2020Feeling like you're in uncharted territory as a landlord? You're in good company! Today's show walks you through how to ethically and profitably manage rentals through the COVID-19 outbreak and beyond. Brandon and David sit down with Mike Butler, acclaimed author of Landlording on Autopilot; Chris Clothier, partner at REI Nation (formerly Memphis Invest); and Dave Poeppelmeier, owner of eight houses in Toledo, Ohio. You'll get a ton out of this panel discussion, including exact scripts for communicating with non-paying residents, strategies for connecting tenants to government resources, a discussion about "deferment" vs. "forbearance," and much more. Mike (500+ units), Chris (6,000+ turnkey units), and Dave (8 properties, mostly student rentals) are all in different markets and at different stages of their investing careers... so you're guaranteed to learn something you can apply in your business today. Enjoy this episode, jump on the BiggerPockets Forums to connect with fellow investors, and subscribe to this show in your favorite podcast app so you won't miss us next week! Click here to listen on BiggerPockets.
Feeling like you're in uncharted territory as a landlord? You're in good company!Today's show walks you through how to ethically and profitably manage rentals through the COVID-19 outbreak and beyond.Brandon and David sit down with Mike Butler, acclaimed author of Landlording on Autopilot; Chris Clothier, partner at REI Nation (formerly Memphis Invest); and Dave Poeppelmeier, owner of eight houses in Toledo, Ohio.You'll get a ton out of this panel discussion, including exact scripts for communicating with non-paying residents, strategies for connecting tenants to government resources, a discussion about "deferment" vs. "forbearance," and much more.Mike (500+ units), Chris (6,000+ turnkey units), and Dave (8 properties, mostly student rentals) are all in different markets and at different stages of their investing careers... so you're guaranteed to learn something you can apply in your business today.Enjoy this episode, jump on the BiggerPockets Forums to connect with fellow investors, and subscribe to this show in your favorite podcast app so you won't miss us next week!In This Episode We Cover:Mortgage forbearance vs. deferment for landlordsWhat % of REI Nation's tenants paid April rentEstablishing open lines of communication with tenantsWhat tone to use in conversations about rentWhy Dave proactively reached out to his rentersGuiding tenants to government resources (unemployment, etc.)Creating contingency plansMike's "Wendy's walk-up window" for rent paymentHow to look for better financing in low-interest-rate environmentsHow to stay organized if you're getting government assistance for your businessAnd SO much more!Links from the ShowBiggerPockets ForumsBiggerPockets WebinarsBiggerPockets BookstoreBiggerPockets Podcast 224: Building a Process to Buy 17 Deals a Week with Chris ClothierAre Your Tenants Unable To Pay Rent Due To Coronavirus? Here's What To Do!BiggerPockets Podcast 234: Tenants, Evictions, & The Dark Side of No Money Down with Ryan MurdockBiggerPockets Bookstore Check the full show notes here: https://www.biggerpockets.com/show380
Kent is back on the show to talk to us about his latest project as well as mistakes he has made throughout his career. He’s working on making home selling and buying more accessible to everyday people and investors looking for discounted property. If you enjoyed today’s episode remember to subscribe in iTunes and leave us a review! Best Ever Tweet: “They put their property on the platform and in less than 24 hours they will have 50-100 cash buyers bidding on the property” - Kent Clothier Kent Clothier Real Estate Background: Founder and CEO of Real Estate Worldwide Was previously part of Memphis Invest, a real estate investment firm that has bought and re-sold more than 5,000 residential properties Listen to his previous episode: Based in Say hi to him at The Best Ever Conference is approaching quickly and you could earn your ticket for free. Simply visit and sign up to be an affiliate to start earning 15% of every ticket you sell. Our fourth annual conference will be taking place February 20-22 in Keystone, CO. We’ll be covering the higher level topics that our audience has requested to hear.
In a recent Allianz Life survey, more than 75% of people age 44 and up said that they fear outliving their money more than death! Real estate investing is one of the best ways to generate the kind of passive income that can take away that fear, but most of us don’t have the time or the talent to identify a good property, renovate it, find a tenant, get it cash flowing and manage the asset long-term. Is there a way to invest in out-of-state rental properties and earn mailbox money without being actively involved in the process? Maureen McCann is the VP of Sales and Marketing at Spartan Invest, a turnkey real estate investment firm based in Birmingham, Alabama. Spartan has made the Inc. 5000 list of fastest-growing companies in the US four years in a row. Today, Maureen joins Oliver to explain the benefits of turnkey investing in out-of-state properties, discussing how Spartan Invest identifies markets for cash flow and what criteria the team uses to select investment properties. Maureen offers insight around the Spartan approach to renovating single-family homes and describes how the business collects recurring revenue on each sale through property management. She also addresses the different ways to buy out-of-state investment properties, from traditional financing to leveraging a retirement savings account. Listen in to understand how Maureen’s team is using Shopify to sell real estate and learn how her turnkey business helps clients generate cash flow and live a worry-free life! Key Takeaways [0:39] The fundamentals of turnkey investing Way to help investors create passive income Seller finds, renovates and manages property [1:42] How Maureen got into real estate 15 years in pharmaceutical sales (quiet discontent) Real estate flipping bootcamp, masterminds Started pitching real estate to doctors on route Offered position as consultant at Memphis Invest [8:31] Maureen’s transition from 9-to-5 to real estate ‘Say YES and build airplane on way down’ Left W-2 during divorce, near bankruptcy Show kids how to get back up + keep fighting [16:26] How Maureen identifies markets for cash flow Job creation and population growth Diversity of industry (stable economy) [18:09] How Maureen identifies investment properties Look at crime rate, school rankings + average income % of renters vs. owner occupants (40% to 50% ideal) Properties in B class areas with no signs of blight [23:05] How much Spartan Invest puts into renovations Focus on distressed but not dilapidated properties Invest $30K (defer maintenance as long as possible) [27:56] How people typically buy homes with Spartan Invest 75% use conventional financing Retirement accounts [38:17] The drawback of investing with retirement funds Set aside reserves for deferred maintenance [41:51] How Spartan Invest handles vacancies System in place to get back on market quickly Only 4.2 days to get property ready to rent [45:45] The Spartan Invest referral program $1K per door referral fee [52:21] Maureen’s latest international turnkey venture Help foreign service officers invest stateside Teach masterclass at embassies [53:05] How Maureen’s team is leveraging Shopify Available properties listed in one place ($30/mo) Investor gets link + password, reserve through site Connect with Maureen Spartan Invest Spartan on Facebook Spartan on Twitter Spartan on Instagram Spartan on LinkedIn Maureen on LinkedIn Connect with Oliver Big Block Realty Oliver on Facebook Oliver on LinkedIn Resources The Millionaire Next Door: The Surprising Secrets of America’s Wealthy by Thomas J. Stanley and William D. Danko FortuneBuilders Richard Branson Bay Pointe Capital Gold Coast Capital Equity Trust Company Specialized IRA Services Historical Wealth Transfer Article in Business Insider ‘Outliving Your Money’ Study by Allianz Life Grant Cardone Shopify Roofstock Easy Notify Slack
Technology has made finding off-market properties more straightforward than ever. What used to take weeks of research sifting through public records can now be done in ten minutes or less with the right software! And the beauty is, you can layer the data to generate lists of potential clients who meet very specific criteria—and personalize the associated marketing directly to their particular motivations. Today, Oliver is joined by Kent Clothier, President and CEO of Real Estate Worldwide, a multifaceted real estate education company. REWW offers its customers the proven systems used by Kent and his team and provides them with national data on cash buyers and private lenders. In all, Kent has bought and sold more than 5,000 houses, and his family’s property management business, Memphis Invest, boasts 5,000 properties under management. He also owns and operates Real Market Experts, 1-800-SELL-NOW FREE, Find Cash Buyers NOW and Find Private Lenders NOW. On this episode of Founders Club, Kent shares his real estate origin story, discussing how he applied his background in the grocery arbitrage business to the process of wholesaling houses. He explains how he started 1-800-SELL-NOW to gain a competitive advantage in a hot market and eventually turned it into a national brand that supports aspiring entrepreneurs. Kent also addresses how his team came to develop a first-of-its-kind software product that uses datapoints to generate a list of vacant properties in the US and how they continue to layer data to make information more and more valuable. Listen in for Kent’s insight on marketing directly to the motivation of an investor, agent or mortgage broker and learn how you can leverage his strategies to find off-market properties and generate results—as quickly as possible! Key Takeaways [2:23] Kent’s real estate origin story Successful grocery arbitrage business Shift to real estate in December 2002 Apply similar concept (wholesaling) Flip 90 houses in first year, made $1M Focus on stable markets after crash [11:00] How Kent got into marketing and education Started 1-800-SELL-NOW for competitive advantage Business in licensing brand to other markets Support aspiring entrepreneurs in first transaction Used public records to build cash buyer database Able to grow business despite market collapse [16:31] Kent’s innovative approach to real estate Go to buyers and ask what they want Create inventory based on response [20:44] The origin of Kent’s real estate software Public records for motivated sellers/private lenders Pitched algorithm to identify vacant properties Layer data to make more valuable [25:53] The marketing piece of Kent’s software Find vacant homes based on criteria Marketing baked in to system Speaks directly to motivation (e.g.: investor, agent) Run campaigns to find buyers AND properties [29:29] How Kent’s software works for multifamily Select commercial or residential + # of units Use flag to gauge vacancy [30:51] Kent’s insight on leveraging technology Mail to 1K, only 10 need to raise hand Create outcomes as fast as possible Connect with Kent Kent’s Website Kent on Facebook Real Estate Worldwide Connect with Oliver Big Block Realty Oliver on Facebook Oliver on LinkedIn Resources Memphis Invest 1-800-SELL-NOW Find Cash Buyers NOW Real Market Experts
Join Kent and Chris Clothier as they discuss how fanatical Memphis Invest is about customer service! Whether its an investor, a vendor, or a resident, we take a look behind the scenes on what it takes to bring excellent customer service in all we do!
This week on the Experience Matters Podcast, Kent Clothier Sr and Kevin Hommel are talking about what it takes to scale your business to the next level. In just over 5 years, Memphis Invest has gone from a 20+ million to a 100+ million dollar company... As you will hear in this episode, this didnt happen by accident. This was a strategic plan that took an incredible amount of teamwork, training, innovation, hard work and execution. Listen to the podcast below as they share key takeaways that helped scale Memphis Invest to where it is today!
This week on the Experience Matters Podcast, Kent Clothier Sr and Kevin Homel take a deep dive into Memphis Invest's renovation process. At any given time, Memphis Invest has over 100 active renovations. In order to achieve this monumental task it takes more than just money...It takes an incredible team, process and systems.
This week on the Experience Matters Podcast, Kent Clothier Sr and Kevin Homel discuss being the greatest at what matters in your business. In this episode, we break down why Memphis Invest has been successful to this point and what it takes for you to do the same!
This week on the Experience Matters Podcast, Kent Clothier Sr and Kevin Homel discuss the "Core Four" within Memphis Invest. These groups are the key to making sure everyone involved with Memphis Invest delivers an exceptional experience! Kevin has three questions (asked by you) and we can't wait to share them with you!b
Chris Clothier puts his natural talents as an entrepreneur, a writer, passionate speaker, ultra-endurance athlete, husband and a father of five beautiful children on display every day. As co-partner at the largest passive real estate investing company in the country, Memphis Invest, Chris and his family have built a management company managing over $400 million in asset value for passive real estate investors from around the world. As an experienced real estate investor and speaker, Chris addresses small and large audiences of real estate investors and business professionals nationwide several times each year.
Focus and Discipline are two traits often used to describe Memphis Invest and Premier Property Management companies. This week Kent Sr. dives into these two disciplines and how they have shaped our company and his career as an entrepreneur. Pay attention, because this week, the podcast starts digging in and getting REAL!
Combine a long-term vision with best-in-class customer service and what do you get? A company that Inc. Magazine recognizes as one of the fastest growing in the United States. Today’s Best Ever guest shares with us how he helped turn his company from a transactional operator to an industry leader. You’ll hear about achievements, mistakes and everything in between in this candid conversation about building a company from the ground up. Chris Clothier’s real estate background: – Partner and co-owner of Memphis Invest, a turn-key real estate company () – His company has been recognized by Inc. Magazine as one of the fastest growing private companies in the US for three straight years – Memphis Invest has over 2,600 properties under management
Ready to jump into a partnership? Well, hold your horses! Do you both know real estate? Do you have experience? Do you and your partner bring complimentary skills to the table? Here are some steps to form a great partnership: Know the skills needed. Identify skills you bring. Identify skills that are lacking. Identify structure. Approach someone with skills and offer yours. All partnerships end, and it is the responsibility of partners to know how it will end. Best Ever Tweet: You should never go into a partnership out of fear. Chris Clothier Real Estate Background: Partner of Memphis Invest, one of the largest passive turnkey real estate companies Memphis Invest does over $100 million in annual revenue They purchase over 600 single-family properties yearly in Memphis, Dallas, and Houston He and his family manage over $400 million in asset value for investors from around the country Founder of nine different companies in two industries billing over $10 million in annual revenue Based in Memphis, Tennessee Say hi to him at or Click here for a summary of Chris's Best Ever advice: Want an inbox full of online leads? Get a FREE strategy session with Dan Barrett who is the only certified Google partner that exclusively works with real estate investors like us. Go to to schedule the appointment. Subscribe in and so you don’t miss an episode!
Chris Clothier is a real estate entrepreneur who scaled the family business. The family company is Memphis Invest and they're rapidly becoming one of the strongest Single Family Turnkey Operations in the country. Chris started out with a late night infomercial years ago and the rest is history. In this episode you will discover: -Business values -Personal growth and development -Customer Service -Single Family Rentals -How problem solving leads to results -The right way or doing it again -Staying in your niche -Turnkey investing -Mr. Big Picture ROI -And much more! http://www.memphisinvest.com/
So you don't consider yourself to be "handy" and you have no desire to rehab rundown properties to build a rental portfolio? If that sounds like you, then this show is for you. Today's show is on how to build wealth though turnkey rentals. My guest is Chris Clothier from Memphis Invest. Chris and his family have build a phenomenal business through this investing strategy. This is a great way to build long term wealth without being involved in the day to day hassles of being a landlord. Now, does that mean you never have to be involved? Absolutely not! You can however build a business that allows you to pursue other things while they take care of the heavy lifting. Here is some of what you will learn in this show: Exactly what turnkey investing is Why some investors will prefer turnkey's over the wholesale, rehab and hold method How inexperienced investors can protect themselves when working with a turnkey company Why you can expect to pay more for these properties Things to look for when choosing a turnkey company to work with Why no business is truly "hands off" Be sure to stop by the blog for more information and to see the entire video interview. Louisville Gals Real Estate Blog
CarrotCast | Freedom, Flexibility, Finance & Impact for Real Estate Investors
What does it take to grow a $100M/yr real estate empire and buy 15 houses per week… all while growing an amazing culture and team that is massively impacting the world? Well Chris Clothier, one of the owners of Memphis Invest, dives into his story, successes, and struggles. We dive into specific things they did early on to stand out from other investors, specific things they do to build an amazing culture with their team members, and struggles he’s had along the way. Listen to our other episodes at the
This week the guys tackle five questions from the audience on windfalls, real estate, and building credit. Question One First off, let me start by saying I’m loving the Investment Property series you guys are doing. I totally want to get into this, just need to figure out how to save for that first down payment… My question is this…you guys talked about saving 15% a month for the reserve account to cover vacancy and break fixes…Let’s say you own a great property, and you don’t have to dip into the reserve account much for a long time. Is there a point where you cap it and stop contributing to the reserve account? Aaron via Email You won’t want to keep all of the property earnings in your reserve account because in the unlikely case you do get sued – say goodbye to that money. Part of our strategy is to choose insurance policies with high deductibles so for fixes and updates that are not major will pay out of pocket. By not making small claims, our monthly premium low.e are keeping the reserve account up to our deductible. We don’t want to use the insurance unless we have to to keep our monthly payments low going forward. What we are keeping in our reserve account is the amount of our deductible. So, if let’s say our deductible is $10,000, we want to be able to cover anything below that therefore we keep $10,000 in our reserve account. There will be big fixes eventually if you hold the property for many years so plan for significant expenses. If you know, you have to replace the AC unit or roof in the next year, plan for that by putting extra money aside in the reserve account the months leading up to it. Question Two Could you walk me through your decision to go with Roofstock as opposed to Memphis Invest or some other traditional turn-key company? My wife and I have spoken with Memphis Invest, and it seems like they run a tight ship and have an excellent reputation in the REI community. Were you simply looking for higher returns than their markets offered? I’m drawn to the fact that the properties are completely rehabbed before being rented, and they seemingly do an excellent job of reducing risk within their property management (minimum of 2-year leases, very in-depth vetting, etc.) Joseph via Email Memphis Invest is an extremely high-quality operation and great company. For us, the properties Roofstock offered were more what were-were looking for as a beginner investor. The homes were cheaper with Roofstock so we were able to try it out without investing a significant amount of money. As new investors, homes with Memphis Invest were just more than we wanted to spend on a property. We also wanted to spread around the risk by investing in multiple properties rather than putting all our eggs in one basket. This strategy has worked well for us making our average returns are higher with the less expensive properties. Question Three Is there anything I can do credit-wise/savings-wise/career-wise to increase my likelihood of getting approved for a mortgage loan? Nyequita Smith via Email Getting approved for a mortgage is all about your attractiveness to creditors. To improve that you’ll need to increase your credit worthiness. Try for more on time payments. If you only have one credit card and then you only have one on time payment a month regardless if it $3,000 or $30. Get more credit cards and put really small things on them like Netflix, Hulu, coffee, etc. Pay each of them off every month. This is a simple way to increase your number of time payments and credit score. Increase credit utilization. Call your card companies and request to increase your limit. When you have more available, your percentage utilize is lower. If you are maxing out your cards everything it doesn’t look good to creditors. If you increase your limit and only using a small amount ... Learn more about your ad choices. Visit megaphone.fm/adchoices
If you want to watch someone build a legacy in real time, simply pay attention to what Kent Clothier is doing in his life and with his business. Kent is the founder and CEO of Real Estate Worldwide (REWW), where he leads an amazing team of individuals that are focused on building disruptive systems, software and techniques that help real estate investors and professionals achieve astounding success in less time. In 2015, Kent became the only family to have FOUR businesses on the Inc 5000 List of Fastest Growing Companies. And for the past 2.5 years I was proud to be a part of that growth, helping to direct the marketing strategies, campaigns and operations during a very high-growth period in his company. Kent started off as a client of mine, became a friend, and then a business partner, but most importantly a valuable mentor in my life as well. I think of him as a "Friend-tor." So in this episode, which has been 2 years too late, I wanted to dig in deeper and ask Kent questions that I might not already know the answer to and help pull out the advice he has for entrepreneurs, whether they are in real estate or any industry. You'll hear how Kent started off in business in his early 20's trading groceries for a profit and built that business, and the business that acquired it, into a $2 billion a year industry-leader. This put millions of dollars into his pocket before he was 30 years old. And you'll hear how a bold but stupid move caused him to lose everything he had within a year only to rebuild his fortune bigger and better in the real estate industry, systematically dominating every market he entered using a principle called "Reverse Wholesaling" that he learned in the grocery business. Most importantly, you'll hear Kent's unwavering focus on what's important in his life, maximizing every moment with his family and friends, very consciously designing his life the way he wants it and encouraging others to do to the same with his message that "The Time Is Now" Here are some of the highlights from this episode: What is Real Estate wholesaling and how does it work? What is holding people back from success? The importance of mindset. Facing the reality of time. It is reckless and irresponsible to act like you have all the time in the world. You don’t. Fighting for your dream. Paying for your time. Mundane things, in business and in your personal life, need to be done. Paying someone for an hour of work is paying for an hour of your time to do whatever you need to do – spend time with family, exercising, relaxing, etc. Is it worth it to spend a large amount of money on something like a business coach or consultant? The benefits of a Visionary/Integrator relationship. Kent benefited from having a lot of mentors over the years. Do you have a mentor? Opportunities in Wholesaling and Real Estate. You can contact Kent on Facebook, www.KentClothier.com or www.REWW.com. Kent is also starting a podcast soon, so keep an eye out for it. Did you enjoy the show? Do you have any book recommendations? Do you have a business and need some help? Contact Brad at askbrad@baconwrappedbusiness.com.
He decided to live near the beach in California because of his lifestyle he created. While being a world class wholesale genius, our Best Ever guest moved to California where he enjoys the fruits of his labor…while others labor. He is an advocate of framing your business around your passion, and to do that, you must have the “end in mind”. He shares the automation and systems that allows him that freedom. Keep an ear close to this episode! Best Ever Tweets: People love to find comfort in complexity. Start with the end in mind. Kent Clothier’s real estate background: Within 18 months after starting in real estate full time he wholesaled 91 houses throughout South Florida Founder and CEO of REI Marketing, a multi-faceted real estate education and marketing company based in Boca Raton, Florida His team is responsible for the development of real estate tools such as 1-800-Sell-Now, Find Motivated Sellers Now and Find Private Money Now Member of Memphis Invest Subscribe in and so you don't miss an episode! Made Possible Because of Our Best Ever Sponsors: You find the deals. We’ll fund them. Yes, it’s that simple. Fund That Flip is an online lender that provides fast and affordable capital to real estate investors. We make funding your projects easy so you can focus on what you do best…rehabilitating homes. Learn more at . What’s the Best Ever health plan for YOU? Go to and find a better health plan in 10 minutes or less. On average you'll save $418 on coverage and care.
In this episode my guest Phil Bottfeld and I are talk about the different models used by management companies for out-of-town investors. The first way is the way http://www.memphisinvest.com sells you a property, rehabs it, and manages it for you. The second way companies work is how http://www.homeunion.com operates where they sell you a house and then management it for you. We compare and contrast these two methods and discuss the fees involved with each.
We interview Chris Clothier from Memphis Invest to explain real estate investments without the mess. Collect the rent check while someone else does the dirty work! Passive Income If you’ve listened to LMM for any length of time, you know how much we emphasize the importance of passive income. One of the keys to building wealth and achieving financial independence is to have more than one source of income and because there are only so many hours in a day, some of that income should be passive. Passive income is income generated with minimal effort on your part. Good sources of passive income can include your investments and retirement accounts, making money from things you already do like driving, shopping, or going out to dinner and our favorite, rental property income. Becoming a landlord can generate significant passive income. But how can owning rental property be considered passive income if you’re searching for homes to buy, tenets to live in them, and handling any repairs that have to be done and the whole list of other things a landlord has to do? The secret to making rental property a source of truly passive income is hiring a management company to deal with the day to day hassles of being a landlord. Turn Key Turn key rental property means that the home is ready to be rented out as is. Any needed repairs or upgrades have been completed and it’s ready for occupancy. This is the best kind of property to buy if you’re going to be an out of state landlord. It’s hard enough to deal with renovations when you’re local, almost impossible if you’re trying to do everything from a distance. There are turnkey management companies too. The right turnkey management company can do nearly everything for you from finding the property and renovating it, to putting a tenant in place and dealing with any repairs and maintenance that might need to be done. They collect the rent and send you a check. They also handle the sometimes protracted process involved when a tenant has to be evicted. You pay a management fee which is typically 8-12% of the monthly rent, some charge additional fees to cover expenses, and some charge a flat monthly fee. You can’t just blindly turn such a big investment over to anyone. You need to do your research when looking for a management company. Are there any real estate centered Meet Ups you could attend either in your local area or the area you want to buy in? It might be worth a trip to talk to some local investors and get recommendations for a management company. If you can’t travel, the internet has plenty of reviews for management companies so you at least have a starting point. Once you have a few recommendations you can start interviewing companies. The preliminary round can be over the phone but once you have your list further narrowed down, you probably want to make a trip down in person. Some key questions are: * How long has the company been in business in the local area? * What services do you offer? * How many properties do you manage? * Can the renter and I reach someone 24 hours a day? * What are the fees? * Under what circumstances can I cancel my contract? * Do the fees change when there is no tenet in the property? * How do you screen tenets? Learn more about your ad choices. Visit megaphone.fm/adchoices
The Science of Flipping | Become a real estate investor | Real Estate Investing like Robert Kiyosaki
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Combine a long-term vision with best-in-class customer service and what do you get? A company that Inc. Magazine recognizes as one of the fastest growing in the United States. Today’s Best Ever guest shares with us how he helped turn his company from a transactional operator to an industry leader. You’ll hear about achievements, mistakes and everything in between in this candid conversation about building a company from the ground up. Tweetable quote: Give investors a positive experience and make them money. Chris Clothier’s real estate background: - Partner and co-owner of Memphis Invest, a turn-key real estate company () - His company has been recognized by Inc. Magazine as one of the fastest growing private companies in the US for three straight years - Memphis Invest has over 2,600 properties under management Subscribe in and so you don't miss an episode! Sponsored by: Door Devil – visit and enter "bestever" to get an exclusive 20% discount on your purchase.
Successful real estate investing involves a lot more than just tenants, toilets, and trouble. Successful investors have learned to manage their investing like a business and not a hobby by creating systems to scale their efforts and build wealth faster and more securely. To get a better idea on just how to do this, on the show today we talk with real estate pro Chris Clothier of Memphis Invest, who shares his story and his view on how to start working on your business and not in your business. If you are looking to take your investing to the next level while maintaining more control – don’t miss this episode. Chris also has some awesome tips on getting your properties rented quicker and dealing with difficult tenants so be sure to take notes!Read the transcript to episode 26 with Chris Clothier here.In Today’s Show, We CoverStudent housing: a good idea or a bad idea?When NOT to use partnerships – and the perfect kind of partner.What comes first: hiring employees or ramping up your marketing.What true marketing really is… and why it costs nothing.Tips for outsourcing parts of your business that don’t excite you.Why Chris didn’t use a formal business plan but you probably should.How to hire people and guarantee you can always pay their salary.Chris’ unique “game” for filling vacant units.The one tenant trait that is an automatic denial.Specific questions to ask a property manager before hiring them.Links from Today’s Show:BP Podcast 009: Using Hard Money Lenders to Grow Your Business with Ann BellamyKeyword alertsDo You Feel Like You Are Drowning In Your Business? Start Outsourcing!Books Mentioned in the ShowMake it Big by Frank McKinneyRework by Jason Fried and David Heinemeier HanssonTweetable Topics“The best marketing you could ever do is simply talking to other people.” (Tweet This!)“If you are going to start a business… why not go all in?” (Tweet This!)“To scale your business, you gotta bring in the highest quality people.” (Tweet This!)“Surround yourself with people who believe in your vision and are up for the challenge.” (Tweet This!)“Don’t be scared to share in the wealth of what you are doing.” (Tweet This!)Connect with ChrisChris’ Company Website MemphisInvest.comChris’ BiggerPockets Profile