REI190: Old Vintage Homes w/ Tyron McDaniel

07.03.2023 - By The Investor's Podcast Network Play

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Patrick Donley chats with Tyron McDaniel about his background and career, his work in inner-city Houston, and his thoughts on making housing more affordable at scale. You’ll also learn about Tyron's innovative approach to renovating and developing homes, his views on gentrification, and advice he gives to young people based on his many years of real world experience.

IN THIS EPISODE, YOU’LL LEARN:

00:00 - Intro

02:04 - What it was like growing up in the 5th Ward of Houston.

02:04 - How he was able to see a good part of the country at a young age.

05:25 - What happened after he “quit-uated” from college.

05:35 - Why driving a semi was formative for his life and career.

07:33 - How a book on tape he listened to changed his life and perspective.

12:03 - What some of the old school real estate infomercials were like.

13:35 - How he got into the mortgage industry after being in trucking and focused on sales.

22:45 - How he got involved in buying real estate and netted $22,000 on his first deal.

24:41 - What it was like being a lender during the GFC of 2008.

26:31 - Why a nightmare renovation made him move toward new construction.

27:35 - How he learned about the power of partnerships.

34:11 - What the benefits and challenges of buying “old raggedy houses” are.

45:43 - What his thoughts on gentrification and affordable housing are.

56:42 - What his strategy is after renovating an older home.

56:42 - How he views where we are in the current market cycle.

01:02:30 - What his strategy is going forward for other asset classes.

01:02:44 - What are some other asset classes that are of interest to him?

01:06:35 - Why RE Twitter is such a valuable resource.

01:06:35 - Advice he gives to young people.

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.

The Everything Guide to House Hacking by Robert Leonard.

Rich Dad Poor Dad by Robert Kiyosaki.

The Big Short by Michael Lewis.

Risk Game by Francis Greenburger.

Related episode: Listen to REI184: Beauty in Broken Things w/ John Marsh, or watch the video.

Related episode: Listen to REI169: The Rise of a Real Estate Entrepreneur w/ Donovan Adesoro, or watch the video.

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