Making The Switch From Residential To Commercial Investing

Making The Switch From Residential To Commercial Investing

Welcome, fellow adventurers! Today, I have an exhilarating tale to share with you—a journey of a military veteran turned real estate investor, Doug Spence. Buckle up as we soar through the challenges he faced in the real estate market and discover how he triumphed against all odds, even with interest rates reaching new heights. Prepare to learn about Doug's ingenious "hybrid wholesale" model, designed to secure lucrative off-market deals and maximize commissions. So, grab your travel gear and let's embark on this captivating expedition!

Picture this: A military veteran with 14 years of aviation experience, much like my cousin and grandfather, sets his sights on conquering the realm of real estate investing. Doug Spence's journey began with a modest single-family property purchase in Pensacola, Florida. As his passion grew wings, he soared through the world of turnkey properties, out-of-state burrs, and flips, expanding his portfolio along the way.

But every adventure has its challenges, and Doug faced his fair share. The sudden surge in interest rates rattled the real estate market, affecting deal flow and igniting unrealistic seller expectations. Yet, undeterred, Doug and his team remained focused on their investment criteria, purchasing properties that made sense and even exploring the option of seller financing. While their acquisition pace slowed, the properties they did acquire became solid investments, standing strong against the tempestuous winds of the market.

Curiosity sparks in my eyes as I delve into the intricacies of Doug's investment fund. Matt, ever the intrepid explorer, inquires about the impact of the tight market on the fund and the returns for investors when money remains uninvested. Doug reveals that investors continue to accrue returns based on when the money is wired, but the fund's ability to source deals may affect the amount of capital they take on. It's a delicate dance, where timing and opportunity intertwine.

Prepare for a twist in the tale! Doug unveils his secret weapon—the "hybrid wholesale" model. It's a stroke of brilliance that enables him to secure exclusive off-market deals, ensuring maximum profitability for his investments. With a combination of wholesaling strategies and direct-to-seller marketing, Doug charts a unique path, bypassing the traditional routes and unlocking hidden gems in the real estate landscape. It's an innovative approach that sets him apart and sends waves of excitement through the industry.

As the market landscape shifts and the winds of change blow, Doug shares his insights on the recent tightening of money and deal flow. He reveals that deal flow has begun to pick up as sellers adjust to the new market conditions, and buyers accept higher interest rates as the new norm. It's a testament to adaptability and resilience, proving that in the ever-evolving real estate world, those who can swiftly adjust their sails can still seize lucrative opportunities.

Doug's story is not just about his personal triumphs; it's about the power of community and giving back. He emphasizes the importance of providing value to others without expecting anything in return. Through his involvement in the War Room Real Estate Mastermind, a group of military personnel in real estate, he connects with like-minded individuals, mentors aspiring investors, and fosters a spirit of camaraderie and shared growth. His commitment to honor and equity resonates deeply as he shares his journey, providing insights and guidance to fellow adventurers.

As our adventure comes to a close, we catch a glimpse of Doug's future vision. By 2029, when he retires from the Navy, he aims to replace both his and his wife's W-2 incomes with passive or mostly passive income generated from real estate or other business ventures. Doug envisions a future where work becomes optional, allowing him to prioritize precious moments with his family. His story is a testament to the power of determination, adaptability, and the pursuit of one's dreams.

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Don't forget to reach out to Doug Spence:
Twitter: https://twitter.com/HonorandEquity
Instagram: https://www.instagram.com/honorandequity/?hl=en
Website: https://honorandequity.com/?page_id=546

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