Book Contributor Interview: Terrance Doyle

My interview with Terrance Doyle of The VareCo is part of our Book Contributor Interview Series. Terrance wrote chapters for both the 2019 and 2020 Guide to Denver Real Estate Investing Strategies books. Derek Marlin joins me as co-host as we talk about how Terrance transitioned from single family to multi family, flipping in Denver and apartment building syndication.

My interview with Terrance Doyle of The VareCo is part of our Book Contributor Interview Series. Terrance wrote chapters for both the 2019 and 2020 Guide to Denver Real Estate Investing Strategies books. Derek Marlin joins me as co-host as we talk about how Terrance transitioned from single family to multi family, flipping in Denver and apartment building syndication.

In the 2019 Guide to Denver Real Estate Investing Strategies book, Terrance set a goal for himself to focus more on multi family and close on two $3-5M buildings. He actually closed on 9 and blew past his $3-5M goal. He wanted to do fewer deals but larger transactions, and that’s exactly what he did.

Terrance has found that multi family gives him more time to complete the steps involved in buying a property. When he started in 2008 buying single family properties at Trustee Sales, the process was stressful and rushed. He was often up against multiple bidders and decisions had to be made quickly, often without gathering all necessary information. With multi family, the closing timeline is typically 60-90 days with a 45 day due diligence period. If more time is needed to evaluate a property, 30 day extensions can be requested as well.

The more relaxed timeline allows Terrance to more fully investigate a property and evaluate the investment. He and his team now spend more time at a property which allows them to better understand maintenance issues, the tenant class, and their payment habits. He is also now preparing Phase I reports in order to bring on institutional investors. These reports require extensive due diligence. He’s found that gathering more information makes him better at executing the business plan for the property.

As he’s redirected his focus to multi family, he has been working with more traditional brokers instead of off market sellers. As they bring him more and more deals, the decision of when to pass on opportunities is one he struggles with. Derek and Terrance have both found this a difficult line to walk. Once you’ve put the time and effort into building your relationships and your pipeline, it’s difficult to say no to an attractive deal.

This blog post is an abbreviated version of the complete interview. For all the details including insight from Derek, listen to the podcast or watch the video (links to both below).

Connect with Terrance Doyle

310-463-7727
terrance.j.doyle@gmail.com
https://thevareco.com/

Submit a Chapter for the 2021 Guide to Denver Real Estate Investing Strategies Book

To submit a chapter for consideration for the 2021 Guide to Denver Real Estate Investing Strategies book, bookmark this page.

Grab a copy of the 2020 Guide to Denver Investing Strategies book for yourself.

YouTube Video: 2020 Book Interview with Terrance Doyle

Analyze Before You Buy
Start Evaluating Properties Today with Our Free Toolkit
In a rapidly changing market, having the tools you need to help you analyze the data is critical. Know what the numbers will look like ahead of time so you don't buy a bad deal. Our toolkit is designed to help you thoroughly analyze any kind of deal so you can invest with confidence.
Start analyzing your Colorado investment properties today
Rental Property Spreadsheet • House Hacking Spreadsheet BRRRR Calculator Spreadsheet • Fix and Flip Deal Analyzer Investing Maps • Rehab Pricing Estimator
Start analyzing your Colorado investment properties today
Rental Property Spreadsheet • House Hacking Spreadsheet BRRRR Calculator Spreadsheet • Fix and Flip Deal Analyzer Investing Maps • Rehab Pricing Estimator
Authors
Chris Lopez
Chris Lopez is a Denver area real estate entrepreneur and investor, as well as the host of Bigger Pockets’ House Hackerz and the Denver Real Estate Investing Podcast.
Similar Post You Might Also Like
Deal Analysis - Denver
How to Combine House Hack Strategies to Live for Free
One of the great things about house hacking is its versatility—house hackers aren’t locked into just one strategy. In this
Colorado Springs
October 2022 Market Updates: Take Advantage of Dropping Rates and Seller Concessions
The October 2022 market stats for Denver, Colorado Springs, and Pueblo are now out, and our roundtable is back to
Sign Up For Our Newsletter
What do you want to learn today?