116: Successful Flipper, Landlord, and Agent Shannon Denniston

On this episode of the InvestFourMore Real Estate Podcast, I interview Shannon Denniston. Shannon has been an extremely successful real estate investor, entrepreneur, and real estate agent. Shannon had always planned on a career in the real estate industry and even majored in real estate in college.

Things do not always go as planned, and Shannon ended up starting a very successful technology company in college, which delayed his entry into real estate. After making a lot of money and paying a lot of income taxes, Shannon’s accountant told him to buy rentals. He started buying rentals, became a real estate agent, and now is even flipping houses. On the show, we talk about how he got into the business, why he thinks he has been so successful, and what new and exciting things he is working on now.

How did Shannon get started in real estate?

Shannon grew up around real estate. His father was a real estate developer. He fully intended to be a real estate agent when he graduated college. However, during college he created a website that provided direct marketing services for real estate agents. He did extremely well with that website and was making a lot of money at a very young age. Consequently, he was surprised with a huge tax bill and needed to figure out how to reduce his tax liability. His accountant told him to invest in real estate because of the fantastic tax advantages.

Shannon bought a couple of duplexes in Kentucky (where he was from) and started his real estate career. After buying a few duplexes, he bought single family homes, and kept buying properties. Shannon now has over 40 rental properties and has a goal to buy 100.

Why did Shannon become a real estate agent?

Once he owned a couple properties, Shannon realized he loved real estate. He got his real estate licenseto help with his investing and to make extra money as well. Shannon says he has been very successful as an agent in his area because he is willing to go the extra mile for his clients. He will hire professional photographers and videographers to market his listings. No other agents in his area provide those services, which gives him a huge advantage. Being a real estate agent also saves Shannon money when he buys his own deals. It also gets him more deals.

How does Shannon find awesome deals?

Shannon does not buy just any property on the MLS and turn it into a rental. He looks for great deals so that he can maximize his equity and cash flow. He finds many deals on the MLS but also buys off-market properties. When buying from the MLS, Shannon will make a lot of offers that never get accepted. However, he is able to buy many properties well below asking price when he finds the right seller. He bought his personal house for $420,000 when it was listed for almost $600,000! In the podcast, Shannon tells us about many other properties he was able to get deals on.

How can you get in touch with Shannon?

Shannon is an agent in Mount Sterling Kentucky, and you can find him here:

Sales: https://dennistonproperties.com
Rentals: https://kyapts.com
Contact Shannon: https://ShannonDenniston.com