Meet Terrance Doyle | Founder, Managing Partner at The VareCo

We had the good fortune of connecting with Terrance Doyle and we’ve shared our conversation below.

Hi Terrance, we’d love to hear about how you approach risk and risk-taking

I think about risk in terms of “bets”, to win big in life, there must be big bets placed, but you never want to bet more than you have or make a bet that will knock you out of the game.

When it comes to real estate investing, I actually minimize the risk as much as possible, and only place bets on properties where the upside of the deal significantly outweighs the risk.

Our team tries to do the very best job they can with minimizing the risks, and being able to “handicap” any unforeseen risk that we may know are out there but may not be able to put into a “spreadsheet”.

Most of the things that go bad in business or real estate are the items that people did not consider or think were possible (think interest rates going from zero to 8% in 18 months) these are the kinds of risks that are the most painful, the ones that no one sees coming or things that are possible.

Above all, I think the best bet anyone can make is betting on themselves, and secondly going against the herd. It is a race to generate outsized returns investing with the masses, if everyone is saying to invest in Dallas for instance, there is a good chance the easy money in Dallas has already been made, but what is the next potential Dallas that could pay outsized returns?

Can you give our readers an introduction to your business? Maybe you can share a bit about what you do and what sets you apart from others?

The decision to start my own business stemmed from my not having any job offers when I graduated in 2006. One of my roommates at the time started a carpet cleaning company and offered me a job with no benefits and no salary, just a telephone, an office, and an opportunity. From there I never considered going to work for anyone else, I kind of stumbled into being brainwashed thinking that I could create my own “job” vs go work for someone else.

I learned from 2 people who took me under their wing in 2008 during the Great Recession. I saw what they were doing, they taught me the fundamentals of comping properties, raising capital, doing home renovations, and selling properties. From there I figured out a way to use my strengths to improve on what they had started and make my version. I have always been the kind of person that once I see someone do something one time I can figure it out from there, so that worked out for me when it came to real estate.

Documenting the process, people get stuck with trying to create stories that they think people will “like” . I have found over time that the best story to tell is the one that I am living in real-time.

One of the most valuable lessons I’ve learned is the importance of building the right team. Similar to my love for basketball, and years of playing competitively in high school and college, there have to be people around me that are good in areas I am not to accomplish anything meaningful. How to communicate as an effective manager, and how to overcome insane adversity, challenges, and opposition come in all shapes and sizes and most of them have no book or course on how to overcome, you just have to figure it out, by not giving up.

If you had a friend visiting you, what are some of the local spots you’d want to take them around to?

Morning: Start the day with a power breakfast at The Original Pancake House.

Afternoon: Enjoy a leisurely lunch at Cherry Creek Grille with a patio overlooking Cherry Creek, perfect for people-watching and discussing investment opportunities. I recommend their signature roasted beet salad or juicy bone-in ribeye steak.

Late afternoon: Enjoy Andy’s Ice Cream, renowned for its unique flavors and generous scoops.

Evening: Catch a Nuggets game at the Ball Arena.

Shoutout is all about shouting out others who you feel deserve additional recognition and exposure. Who would you like to shoutout?

I am inspired by the real-life story of anyone who can overcome great adversity to accomplish their dreams.

I’d like to shoutout my mom and dad, two immigrants to this country, who even though they did not have connections, or any formal education, found a way to invest in their three children so that their kids could have the opportunity to take advantage of the American dream.

I’d also like to shoutout my father-in-law, who is considered the very best at his profession, and still to this day after receiving numerous accolades and awards continues to refine his craft to stay at the top of his game despite his past success.

Additionally, I am inspired by other entrepreneurs who have taken incredible risks, bet on themselves, and overcome countless failures to accomplish their goals and succeed. A few entrepreneurs I’d like to shoutout are guys like Alex Hermozi, Jeff Bezos, & Gary V.

Website: https://thevareco.com/

Linkedin: https://www.linkedin.com/in/tjdoylemathew633/

Image Credits
BY JENN PICCOLO PHOTOGRAPHY