This week on The Hard Money Partner Show, we welcome Carl Suverkrop to the show. Carl is a Dallas transplant from South Africa; he co-founded an electronic security company before his big move that focused on recurring contracts, which translated well into real estate. Within three months of moving to Dallas, Carl secured his first single-family home by partnering with a hard money lender. In this episode, Carl shares his experience in starting from scratch and leveling up to buying multi-family units within three years. He details the learning curves he tackled and paints a promising picture of what’s to come for his future investments.
Key Topics Discussed:
Apartment business model in America differs from South Africa. Most development are either sold off townhome style or are owned by a handful of single investors
Moving to the U.S. with green card and no social security, Carl found a money partner and owned a property within 3 months
Difference between buying single and multi-family:
o Single family homes are easier to purchase and renovate, multifamily require more work, capital, and length of time to close
Expanding a residential unit from 102 to 106
[00:00:00] Introduction to Carl Suverkrop
[00:01:14] Background on Carl
[00:05:44] The apartment business model in South Africa
[00:07:17] Transitioning into the U.S.
[00:12:41] Finding four duplexes with a money partner
[00:15:27] Getting into the business with no credit/money
[00:19:41] Deciding to move towards bigger units
[00:26:02] Learning curve between single family and multi family
[00:30:45] Stabilizing property
[00:35:08] Latest deals
[00:43:04] Expanding on commercials units
[00:49:03] Exit strategy
[00:51:47] Recap on deals
[01:01:10] Continued interest and education
[01:08:54] Connect with Carl
Connect with Carl:
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