JF3225: Building a $650 Million Multifamily Portfolio After Losing it All in 2008 ft. Patrick Grimes
The Best Ever CRE Show
Best Ever CRE
4.8 • 983 Ratings
🗓️ 4 July 2023
⏱️ 39 minutes
🧾️ Download transcript
Summary
Patrick Grims is the CEO of Invest on Main Street, which allows investors to passively invest in syndications for alternative assets. In this episode, Patrick shares his whirlwind journey from high-tech engineer to real estate investor, which includes losing everything in the 2008 housing crisis. He also shares the importance of learning to trust others and educating investors on the history of market cycles.
Patrick Grimes | Real Estate Background
- CEO of Invest on Main Street
- Portfolio:
- $647 million - 4,923 multifamily units in 26 communities across 7 states
- 138 natural gas and oil wells
- Based in: Los Angeles, CA
- Say hi to him at:
- Best Ever Book: A CEO Only Does Three Things by Trey Taylor
- Greatest Lesson: Don’t fear the market cycles, learn how to ride the waves and invest in the downturn.
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Transcript
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| 0:00.0 | Did you know that within a decade women will hold $30 trillion in investable assets? |
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| 1:05.0 | Quick disclaimer, the views and opinions expressed in this podcast are provided for |
| 1:09.0 | informational purposes only and should not be construed as an offer to buy or sell any securities or to make or |
| 1:15.5 | consider any investment or course of action. For more information go to Best Ever Show.com. |
| 1:21.7 | Low leverage in a high cash flow, that means that even if the market temporary fluctuates, |
| 1:27.6 | the lenders are okay because their debt-covered service ratio is fine. |
| 1:31.9 | And that's where you really run into challenges today. |
| 1:34.0 | Welcome to the best ever show, the world's longest running daily commercial real estate |
| 1:38.6 | podcast. |
| 1:39.6 | Our hosts interview commercial real estate experts every day to get you the best |
| 1:44.1 | advice ever with none of the fluffy stuff. |
| 1:46.5 | Hello best ever listeners welcome to the best real estate investing advice ever |
| 1:51.4 | show I'm Ash Patel and I'm with today's guest |
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