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the Body Politic
Vol. 4, No. 5 - May 1994, Page 10
Copyright © 1994, 1997 by the Body Politic Inc.
Cindy Terry: Real Estate Queen
by Anne Bower
Much has been written lately about Hillary Clinton's "outrageous" profits from her $1,000 investment in the commodities market. But a review of the real estate dealings of Cindy Terry show her buying, then selling, two houses and acquiring a business lot in only seven years. Not bad for a woman who is rarely employed and whose husband reports only a modest salary from "pro-life activism."
When Cindy Terry moved to Binghamton with husband Randall in 1984, they rented the top part of a duplex on Dennison Ave. An abortion clinic had recently opened in the Binghamton Plaza and Cindy began "sidewalk counseling" patients. Quickly, husband Randy got involved. At that stage, the young couple's efforts were supported by the local right-to-life community and Mr. Terry's Church, the Church at Pierce Creek, where Mr. Terry served as lay minister.
By 1985, Branch Ministries, Inc., the brain-child of Mr. Terry's pastor, Dan Little, had begun Project Life, which focused on luring women seeking abortion to the Crisis Pregnancy Center, an anti- abortion counseling program run by Mr. Terry. It was during that time, that Randy and Cindy met a Mr. Z. from Brooklyn, who attended Pastor Little's Church and had a summer home in Windsor, NY
In February, 1987, Cindy took out a $42,000 mortgage on 10 Academy St. in Windsor. Mr. Z. held that mortgage. Ten Academy St. is a modest little house on a quiet back street in the Village of Windsor about 15 miles outside of Binghamton. It's a nice place to raise the daughter and three foster children the Terry's had by then.
In 1988, Cindy expanded her real estate investments by accepting trusteeship for her and Randy on a property at 36 Main St., also in Windsor. Husband Randy used this lot to relocate his used car business which had been situated at his pastor's wholesale florist business in Vestal, NY. In his 1988 deposition, Mr. Terry stated he was not making very much money selling the cars, so eventually Good Buy Used Cars became defunct. (It is interesting to note that in June 1993, Mr. Terry took out a DBA for Windsor Wheels, yet no signs have appeared on the old Main St. site.)
The next few years were busy ones at the Terry household. Operation Rescue was born and Randy was touring the country -- and visiting many local jails. Cindy had mostly retired from activism, relegated to caring for home and children. By the beginning of 1990, Randy had relinquished national control of Operation Rescue to Rev. Keith Tucci and the Terry's prepared, once again, to relocate.
In July, Cindy discharged the $42,000 mortgage on Academy St., only 2 and one-half years after taking it out. One week later, she took out a $50,000 mortgage on 2759 Colesville Rd. in Harpursville, NY. Harpursville is even more removed from Binghamton than Windsor, but, the Colesville Road home is a far cry from the Windsor domicile.
This beautiful two-story columned colonial with long sweeping drive way and large two-car garage is set in the country about a half mile outside of Harpursville. The Terrys had found middle-class heaven. (A word of caution to "city" readers. A home like this overlooking San Francisco, or near Prospect Park would cost 7 figures. But not in upstate New York. The figure bandied about for the cost of the house was somewhere around $90,000.) The mortgage was for $50,000, so Cindy had to come up with approximately $40,000 to clinch the deal. Perhaps the money came from her sale of the 10 Academy St. property in September of 1990.
Wherever the money came from, the Terrys settled into Harpursville, conveniently located only 10 miles from the 36 Main St. property. Less than a year later, Cindy would lease this property to a local car dealer who paid $5,100 a year on a two-year lease with an option to buy for $38,000. He never exercised the option, which was a good thing because, in February 1992, husband Randall had incorporated "Randall Terry, Live", a corporation which produces his daily radio talk show syndicated to a few Christian stations. Thirty-six Main St. is the studio and headquarters for that program.
In 1993, the Terrys did a lot of traveling. Randy flew to Holland at one point, but even Cindy and the kids got to go places as Randy took them on a tour of the midwest that summer. He was speaking at local churches, preaching that the devastating summer floods on the Mississippi were the result of God's wrath on midwesterners because of sins like abortion and homosexuality.
Suddenly, not long after their return, the beautiful colonial was on the market for $127,000. Where would the Terrys go next? Were they moving to Washington to be closer to the seats of power, or would they head for the sunshine of California or Florida? The answer came in January of this year. The family was relocating to Windsor, but not the village, the town. And instead of a modest little house, or a large colonial, the Terrys were moving to a sprawling complex one mile up the road from Randy's radio station.
Two and one half years after the Colesville road mortgage was signed, Cindy had paid the $50,000 off, without selling the house. Now, the little village of Windsor was a-buzz with the news that the Terrys were taking up residence in the Johan Maasbach World Mission house. Cindy has landed a plum property.
Reports are that the house is 3 stories fully-remodeled, with at least 5 out-buildings, including the Outlook barn. There is a large pond next to the barn and steep hills behind the complex. The road is sparsely populated.
What did this cost? What are the Terry's planning to do with this? Who is Johan Maasbach, anyway? In reverse order, Johan Maasbach is a well-known Dutch missionary. Villagers say he used to bring missionaries from all over the world to stay in Windsor. Probably a rest-home for people in bad need of a rest.
As to plans the Terrys may have, Mr. Terry has talked of giving political seminars for Christians thinking of running for public office. The Maasbach Mission would be a perfect site for such a venture. Then, Mr. Terry might want to extend his media empire to television. There is supposed to be a satellite dish on the property. This could be re-equipped to transmit so Randy could beam himself up.
The cost of the Maasbach property is still unknown, but in March 1994, Cindy again mortgaged the Colesville Rd. house, this time for $75,000.
The next time Hillary Clinton wants to invest in real estate, we suggest she call Cindy, who has negotiated over $165,000 worth of mortgages in 7 years -- with no Congressional investigations. Mrs. Clinton would do well to listen to Mrs. Terry.
(See a follow up story in the June, 1994 Body Politic
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