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The Intrinsic Value Podcast - The Investor’s Podcast Network

REI177: Building Wealth One Deal at a Time w/ Patrick Donley

The Intrinsic Value Podcast - The Investor’s Podcast Network

The Investor's Podcast Network

Investing, Education, Business

4.6592 Ratings

🗓️ 3 April 2023

⏱️ 65 minutes

🧾️ Download transcript

Summary

Patrick Donley sits down with Nick Hill and Dan Foch from The Canadian Real Estate Investor podcast where they interview Patrick on how he got started in his real estate investing career, his real estate investing strategies, the pros and cons of running a fix and flip business, why he is transitioning from residential to commercial RE, and what he’s learned being the co-host of The Real Estate 101 podcast. IN THIS EPISODE, YOU’LL LEARN: 00:00 - Intro 03:46 - How his first real estate investments went. 03:58 - What Patrick learned growing up in a real estate family. 27:08 - What the pros and cons of fix and flips are. 21:46 - How his real estate strategies have evolved over his career. 31:33 - How he is financing his deals. 31:33 - How he is transitioning from residential to commercial real estate investing. 39:18 - Why he decided to focus on just one niche in just one area. 39:18 - What it has been like hosting the Real Estate 101 podcast and his top guest takeaways. 42:56 - What his most complicated renovation project looked like. 01:00:10 - What his best investment has been. 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. Hillybilly Elegy by J.D. Vance. The Canadian Real Estate Investor Podcast. Rich Dad Poor Dad by Robert Kiyosaki. Cashflow Quadrant by Robert Kiyosaki. Confessions of a Real Estate Entrepreneur by James Randel. Berkshire Hathaway Letters to Shareholders by Warren Buffett. Richer, Wiser, Happier by William Green.   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 Dan: Twitter | Website | LinkedIn Connect with Nick: Twitter | Website 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.

0:02.0

One project that was kind of interesting, I bought a four-unit apartment that had been, had caught on fire.

0:08.2

The fire department came in, like, you know, hosed the whole thing down.

0:11.7

When you walked in, two of the units were lived in by hoarders, and I saw these and I was like,

0:17.4

I'm buying this thing.

0:18.8

So I bought it for $10,000.

0:19.9

We went through seven massive dumpsters, like just to gut this thing and took it down to the studs.

0:27.1

I love that your instinct is I'm buying this thing.

0:33.2

Hey, everybody.

0:34.2

In this week's episode, we're going to change things up a bit and try something new for me. I sat down with Nick Hill and Dan Fosh, who are the co-hosts of the Canadian Real Estate Investor podcast. I haven't talked too much in past episodes about my own real estate investing journey, and Nick and Dan interviewed me to discuss how I got my start in real estate, how my strategies have evolved over the years, what the pros and cons of

0:54.9

running a fix-and-flip business are, how I'm transitioning from residential to commercial

0:59.1

real estate, and what some of my biggest takeaways have been from co-hosting the Real

1:02.9

Estate 101 podcast. I'm the founder and managing director of the Wexford Group, which is a real

1:07.6

estate redevelopment company based in Columbus, Ohio. This was the first time

1:11.6

I've been interviewed about my thoughts on real estate, and I had a complete blast with Nick and

1:15.5

Dan. They did a fantastic job, and I hope you guys really enjoy this episode. And so, without further

1:20.9

delay, let's jump into this week's episode with me, Patrick Donnelly, being interviewed by Nick Hill

1:26.2

and Dan Foch.

1:30.6

You are listening to Real Estate 101 by the Investors Podcast Network,

1:35.6

where your hosts, Robert Leonard and Patrick Donnelly interview successful investors

1:39.7

from various real estate investing niches to help educate you on your real estate investing journey.

1:53.6

Hey, everybody, welcome to the Real Estate 101 podcast. I'm your host today, Patrick Donnelly,

...

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