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.
Click here to listen on Apple Podcasts.
Listen to the Podcast Here
Read the Transcript Here
Watch the Episode Here
Help Us Out!
Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thanks! We really appreciate it!
This Show Sponsored By
When your tenants pay rent with RentRedi, they have the option to report all their on-time rent payments to boost their credit score by up to 26 points! And 60% of renters even see improvement after 1 month of reporting their rent. Credit reporting is super helpful for you too! Offering your tenants the ability to report their rent payments to credit bureaus can motivate on-time rent payments and also gives you a competitive advantage in the rental market.
So in celebration of RentRedi’s new credit reporting feature, they’ve got a little extra boost for you! They’re giving our listeners 50% off any RentRedi plan using our special code BPSPRING.
Whether you need a highly vetted U.S.-based virtual assistant, a bookkeeper, a social media strategist, or a website specialist, BELAY has the right person ready to help grow your business. Never worked with a remote staff before? No problem. BELAY has you covered. To help you get started, BELAY is offering our listeners a free download of their CEO’s latest book, Rise Up & Lead Well. She shares everything she’s learned in her journey from assistant to CEO about how to work successfully with an assistant.
Just go to belaysolutions.com/biggerpockets. In no time, you’ll be back to doing what only you can do: Growing your organization.
Check out SimpliSafe Security’s DIY home security systems; an affordable, wireless, cellular, and customizable system that doesn’t require a contract!Go to SimpliSafe.com/pockets to enjoy their 60-day money back guarantee.
Fundrise is an investment platform designed to make real estate investing simpler, smarter, and easier. With investments in more than 300 properties, collectively worth more than $4.9 billion, Fundrise is revolutionizing the way you invest in real estate, giving you the opportunity to own a professionally managed portfolio of high quality private real estate.
So, if you’re ready to unlock a new level of real estate diversification, join their community of over 130,000 investors by visiting fundrise.com/biggerpockets to have your first 3 months of advisory fees
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
Books Mentioned in this Show:
Connect with Terrance: