Real Estate Investing with Coach Carson · Chad Coach Carson

#447: He Bought 7 Rentals in 4 Years While Working Full-Time

·49 min·4 clips

Terrence spent months analyzing markets but realized he should have spent equal time vetting property managers.

This episode features host Coach Carson interviewing Terrence, a financial services professional who acquired seven rental properties in four years while working full-time. Terrence began his investing journey during the COVID-19 pandemic, transitioning from a one-bedroom apartment to a multi-state portfolio. He credits the pandemic for accelerating his decision to start investing after reading "Rich Dad, Poor Dad." Terrence's first property was a $235,000 duplex in South Jersey, purchased with a 20-25% down payment and a sub-4% interest rate in 2021. He initially managed this property himself but faced challenges with tenant screening and maintaining professional boundaries. For his subsequent investments, Terrence expanded into out-of-state markets, including Cleveland and Columbus, Ohio, driven by affordability and differing landlord-tenant laws. He purchased a Cleveland duplex for $129,000 with a 7.6% interest rate, targeting cash flow in a C+ neighborhood. In Columbus, he bought two single-family homes for $195,000 and $209,000, focusing on long-term appreciation in areas with strong job growth from tech companies and Ohio State University. A key lesson Terrence emphasizes is the critical importance of vetting property managers as thoroughly as analyzing deals. He learned this after a difficult experience with his first out-of-state property manager and now values proactive communication and organized systems. Terrence works backward from his down payment budget—often around $50,000 per property—to determine his price range and suitable markets. He is currently under contract for a property in a new, undisclosed market and is contemplating the transition from the "builder phase" to a "harvester phase" of his portfolio. The conversation is educational and conversational, structured as a detailed case study interview. Real estate investors, especially those working full-time jobs and considering out-of-state investing, will find practical strategies and candid lessons here. Listeners seeking high-level theory or quick-fix strategies might find the methodical, savings-focused approach less appealing.

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