From Working At Olive Garden To $1 Million A Year In Cash Flow With Pat Grace (Ep 516)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Business, Investing, Entrepreneurship

4.9 • 805 Ratings

🗓️ 8 April 2025

⏱️ 24 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Pat started buying rentals by house-hacking a 4-unit building while working as a server at the Olive Garden. He was living free and profiting several hundred dollars a month.

After seeing that everything was working out, he bought more rentals using the BRRRR strategy.

As he grew his portfolio, he found it was getting easier. He just kept buying more properties.

On this episode, Pat shares what a perfect rental looks like, why he doesn't like 30-year mortgages, and how he financed his portfolio.

We also look at Pat's numbers and figure out how he is earning over $1 million a year in rental income.

https://rentalincomepodcast.com/episode516

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Transcript

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0:00.0	Inspiring interviews with today's top landlords.
0:05.0	This is the Rental M-Com podcast.
0:07.0	And now, Dan Lane.
0:10.0	Pat, you've got an incredible success story.
0:12.0	Can you tell us how you got started buying rentals?
0:16.0	Yeah, so I, you know, I started back in 2000 as soon as I graduated from college.
0:24.9	I flipped about four or five homes, got my cash, you know, my cash right.
0:31.1	And then I started doing buying holds where I was buying the properties, the regular bur what what you we now today
0:40.2	called burr back in the day there was no name for it was basically buying rehabbing renting
0:46.2	refinance and repeat you know I mean it was I just was doing that model Pat's very first deal was
0:52.3	a fourplex that he house hacked right out of college.
0:55.7	And today he's built a rental portfolio of 200 single-family homes that generate over
1:02.6	$1 million a year in cash flow. And on this episode, we're going to figure out how we did it.
1:09.3	Joining us on the show today is Pat Grace from
1:12.2	Kansas City. We'll take a quick break to thank our sponsors. We'll come right back and we'll talk to
1:17.5	Pat. It's a lot of work to find a really good rental property. And when you actually find that
1:22.1	property, you want to make sure you're working with a lender that can get that loan closed.
1:26.7	The lender that I recommend is Chaley Ridge from Ridge Lending Group.
1:31.3	She's a nationwide lender and her specialty is helping investors finance rental properties.
1:37.1	She has a ton of loan programs and she can find something customized to you for your situation.
1:42.8	If you want to find out more or you're ready to get started
1:45.5	today, just go to ridgelendinggroup.com. That's R-I-D-G-E lending group.com, NMLS 42056. Investing in
	...

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