Join Rent Roll Radio’s host, Sterling Chapman, with his guest Parker Stone as they talk about how to start building your network to manage multifamily deals better. Parker is a principal at Clear Bay Capital and a member of the Cornell Real Estate Council. After being laid-off two months into his first job, he searched online for other possible income streams and eventually stumbled upon BiggerPockets. Since then, Parker learned about appreciation, rehabilitation and other real estate concepts. In turn, he was inspired to look into Raleigh’s market and found the first of many properties in his portfolio. Today, Parker walks us through how he acquired his first deals and how his process has changed since then.
In this episode, you’ll learn:
About Parker Stone
Like most investors, Parker Stone got into real estate through single-family syndication. Before that, Parker worked corporate as his first job out of college. And while he was so excited to start a career, his department was laid-off two months in, a challenging time for anyone at the time. And so, Parker looked online for different business models to create passive income, such as franchising and retailing.
But after a while, Parker came across BiggerPockets and then learned about buying properties at reasonable prices for appreciation and renting them out for cash flow. And at the time, his brother was going to NC State University, which happened to be in Raleigh, one of the fastest-growing areas. And so, Parker flew down to Raleigh and started looking through some of the markets, eventually finding a good place that happened to be on sale. It just so happened that the former owner of the property had just bought a new house with a more spacious lawn for their dog, and he needed to sell his previous property quickly. So, in the end, Parker and his brother got the property. Nowadays, Stone is looking to ultimately sell the place and a few others in their portfolio to roll into multifamily eventually.
Connect with Parker Stone!
Website: https://clearbaycapital.com/
LinkedIn: https://www.linkedin.com/in/parker-j-stone/
Instagram: https://www.instagram.com/clear_bay_capital
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