Some would call Terrance Doyle a “baller”. Not because he’s done hundreds of millions of dollars in real estate transactions, or because he has done over 600 flips, or because he helps lead the Tribe of Multifamily Mentors. Terrance played college basketball, which grew into working as an NBA sports agent, garnering him access to famous coaches, players, and executives.
Terrance and a couple of his college teammates started a franchise after college, and needed somewhere to park cash. Another teammate helped Terrance buy a foreclosure at a public trustee sale, which he flipped for a sizable profit. This is when he knew that the real money was made in real estate. Between 2008 and 2014, Terrance did over 600 flips, in multiple different areas of the country.
As he learnt to build relationships and rapport with buyers, sellers, lenders, and contractors, Terrance started taking on bigger and better deals. He’s done $35,000,000 in transactions since the start of the pandemic and relies on the five basic fundamentals of real estate: know your market, be aggressive, be faster than the competition, have solid lenders, and make sure your ducks are in a row.
In This Episode We Cover:
- The 5 fundamentals of successful real estate investing
- Going from NBA agent to full-time real estate professional
- Finding your competitive edge and knowing where you can add value
- How to invest in a very expensive market (like Denver!)
- Cap rates, NOI, cash on cash return, and other important metrics
- How to run your organization more efficiently, so you can do more
- And SO much more!
Links from the Show
Check the fulls how notes here: http://biggerpockets.com/show462