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The Intrinsic Value Podcast - The Investor’s Podcast Network

REI169: The Rise of a Real Estate Entrepreneur w/ Donovan Adesoro

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Business, Education, Investing

4.6592 Ratings

🗓️ 1 March 2023

⏱️ 76 minutes

🧾️ Download transcript

Summary

Patrick Donley talks with Donovan Adesoro who is a real estate developer and also Investor Relations Director for Fund That Flip. They discuss how his start in house hacking fueled the desire to do larger deals which led to him developing 16 duplexes in the Houston area with an additional 30 currently under construction. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 17:27 - How Donovan got his start in house hacking. 17:39 - What the pros and cons of house hacking are. 17:39 - What resources and first steps would he recommend to beginning investors? 27:15 - What it took to break into the development world. 33:01 - Why he jumped from house hacking to developing duplexes. 37:40 - What the steps are from purchasing a vacant lot to the final end product. 40:32 - How he went about raising capital. 57:09 - What his exit strategy is plus his plans for the future. And much, much more! *Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences.   BOOKS AND RESOURCES Join the exclusive TIP Mastermind Community to engage in meaningful stock investing discussions with Kyle and the other community members. Robert’s book The Everything Guide to House Hacking. Rich Dad Poor Dad by Robert Kiyosaki. The Go Giver by Bob Burg. Set for Life by Scott Trench. Richer, Wiser, Happier by William Green. Related episode: Listen to MI215: The Everything Guide to House Hacking w/ Robert Leonard, or watch the video. Related episode: Listen to REI090: The Guide to Real Estate Investing w/ Brandon Turner, or watch the video. NEW TO THE SHOW? Check out our Millennial Investing Starter Packs. Browse through all our episodes (complete with transcripts) here. Try Kyle’s favorite tool for picking stock winners and managing our portfolios: TIP Finance. Enjoy exclusive perks from our favorite Apps and Services. Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets. Learn how to better start, manage, and grow your business with the best business podcasts. SPONSORS Support our free podcast by supporting our sponsors: Fiscal.AI Connect with Patrick (@jpatrickdonley): Twitter Connect with Donovan: Website | Twitter | LinkedIn | Instagram Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm Learn more about your ad choices. Visit megaphone.fm/adchoices Support our show by becoming a premium member! https://theinvestorspodcastnetwork.supportingcast.fm

Transcript

Click on a timestamp to play from that location

0:00.0

You're listening to TIP.

0:02.6

With the new build, you're adding so much value to raw land.

0:06.3

It might make more sense that it's a little bit more margin in the deal or a little bit more profit that can cushion you should something go wrong.

0:13.5

So long story short, when I started to run the numbers on new builds, those made a ton of more sense.

0:18.4

And began into kind of go full steam ahead in terms of

0:21.6

how do I get a new build even when I don't have any money or experience.

0:28.0

Hey everybody in this week's episode, I got to sit down with Donovan Aday Sorrow to talk about

0:32.4

how his start in house hacking fueled the desire to do larger and larger deals, which led him

0:36.8

to developing 16

0:37.9

duplexes in the Houston area with an additional 30 that are currently under construction.

0:42.9

Donovan is a 26-year-old real estate developer and also investor relations director for fund

0:47.9

that flip. He's originally from St. Paul, Minnesota and graduated with a petroleum engineering

0:52.5

degree in 2019. After moving to Houston,

0:55.5

Texas for a job in the oil industry, he got his start in real estate with a house hack of a

0:59.7

duplex during the middle of the pandemic. Noticing a lack of duplex inventory throughout the city,

1:05.3

Donovan decided to raise outside capital and build them himself, which he has done several

1:09.3

times over and intends to get into

1:10.9

even larger scale projects in 2023. Listening to Donovan's stories and hearing how he's accomplished

1:16.7

so much at a really young age made me feel somewhat like an underachiever, but I love stories

1:21.2

like his, and it shows what's possible with the right amount of determination and grit,

1:25.4

and I found this episode super inspirational. And so,

1:28.7

without further delay, let's jump into this week's episode with Donovan Aday Sorrow.

...

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