In this highlight episode, Whitney Sewell interviews Patrick Grimes, a former engineer who smoothly transitioned into real estate investing. Patrick discusses his industry background, shedding light on the obstacles he overcame. He explains his shift from engineering to real estate, emphasizing advice from a successful entrepreneur. His story inspires aspiring investors, emphasizing perseverance and learning from mistakes.
During the interview, Patrick stresses the importance of investing in recession-resilient markets. He discovered the benefits of buying properties with cash flow potential and improving their value. Thorough market research and selecting locations with diverse job opportunities and landlord-friendly laws are crucial for success.
Additionally, Patrick shares insights on the power of partnerships in real estate investing. He highlights the value of collaborating with individuals who align with your goals. Finding dedicated partners with a similar risk-adjusted mindset is essential. He learned that partnerships form best by working together through challenges.
For the full episodes, click the links below to gain more insights and information from these discussions!
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About Patrick Grimes:
Patrick Grimes who is the founder and CEO of both Invest On Main Street and Passive Investing Mastery, has made significant strides in the realm of real estate investing. Invest On Main Street is a private equity firm dedicated to enhancing professionals’ quality of life by offering tax-shielded, inflation-hedged passive investments in alternative assets. On the other hand, Passive Investing Mastery is an educational platform sponsoring passive investments. Since 2007, Patrick has been actively involved in purchasing and renovating distressed real estate assets, amassing a portfolio worth over $600M, including 5k multifamily units across emerging markets in Texas and the southeastern U.S. His investments are diversified through a partnership in an energy portfolio comprising over 100 natural gas and oil wells across five states. As an Amazon #1 best-selling co-author, Patrick also contributes articles on investing and commercial real estate to Forbes and Inman.
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