All Forum Posts by: Douglas Skipworth

Quote from @Junior Francica:

Quote from @Douglas Skipworth:

Quote from @V.G Jason:

Memphis is trash. I'd opt for Chattanooga. 

I haven't invested in Chattanooga (yet!), but I've made a fortune in Memphis and know a bunch of other people who have done really well investing here. As they say, one man's trash is another man's treasure!

 What have you invested in Memphis? rentals? Just starting my first flip here in Chatt and even though it's a little harder to find, still a lot of great flip opportunities. 

Congrats on your first flip!  When you're done be sure to post it in the completed deals section so others can learn from all of your success.

Yes, my investments have been mostly long-term buy and hold rentals. I'm not much of a flipper, though I have sold a bunch my rentals over the years and have helped a bunch of flippers buy and finance their projects. Thanks for asking, @Junior Francica!

If you self manage, how do you make sure your records and data are clean and thorough?

If you want to learn more about property management (or buy and hold, fix and flip, SFR, turnkey, small multifamily, or hard money loans) in Memphis, please subscribe on YouTube or Facebook. Each week @Dean Harris and I cover it all!

Special thanks to CrestCore property management for being a long-time sponsor of the show!

Here's why self managing can work against you when it comes time to sell your property.

If you want to learn more about selling properties (or about buy and hold, fix and flip, SFR, turnkey, small multifamily, hard money loans, or property management in Memphis), please subscribe on YouTube or Facebook. Each week @Dean Harris and I cover it all!

Quote from @V.G Jason:

Memphis is trash. I'd opt for Chattanooga. 

I haven't invested in Chattanooga (yet!), but I've made a fortune in Memphis and know a bunch of other people who have done really well investing here. As they say, one man's trash is another man's treasure!

If you are selling a property today, do these things right now to get the property sold.

If you want to learn more about selling properties (or about buy and hold, fix and flip,SFR, turnkey, small multifamily, hard money loans, or property management in Memphis), please subscribe on YouTube or Facebook. Each week @Dean Harris and I cover it all!

If you're selling a property right now, here's a deep dive into what you need to do to get it sold ASAP at full price!

If you want to learn more about selling properties (or about buy and hold, fix and flip, SFR, turnkey, small multifamily, hard money loans, or property management in Memphis), please subscribe on YouTube or Facebook. Each week @Dean Harris and I cover it all!

If you're looking to BRRRR in Memphis, this is a great opportunity!

Reach out to @Dean Harris if you want to make an offer!

That's awesome, @Brandon Vukelich!  

My son plays the online version of the Rich Dad Poor Dad Cashflow game.  It's very a powerful teaching tool.  I've got my CPA license and he already has more practical knowledge of balance sheets and income statements than I did when I finished undergrad!  

If you need to sell right now, what are you doing to prevent low offers from other investors?

If you want to learn more about selling properties (or about buy and hold, fix and flip, SFR, turnkey, small multifamily, hard money loans, or property management in Memphis), please subscribe on YouTube or Facebook. Each week @Dean Harris and I cover it all!

Quote from @Justin Suyama:

I've read it a couple times and listened to it recently with a friend. I'm working to get out of the rat race by investing/partnering (as a general contractor) with others in the Air BNB and Adult Family Home markets in the greater Seattle Tacoma area. The goal is passive income and using my assets as leverage to purchase more. 

Congratulations, @Justin Suyama! You're living out one of my favorite concepts from Rich Dad Poor Dad - "keep your day job and mind your own business" from Ch 3.

As you know, if you keep your personal expenses below your personal income then you'll be able to invest in assets that generate their own income! The first question my 16-year-old son asked after he read the book was, "Why doesn't everybody in the world do this?!"

Are you able to get some ownership in the assets just by contributing your time and skills (ie, sweat equity) or do you have to put up cash? Getting an ownership interest in an asset with little (or none!) of your own money down can be an amazing way to build wealth! That's what I attempt to do whenever I can, especially in Memphis real estate.