Patrick Grimes is the founder & CEO of Invest On Main Street. With fifteen years of active real estate investment experience, he specializes in acquiring distressed assets, renovating, and achieving long-term cash flow stability. His portfolio encompasses control over 4,000 units in emerging markets across Texas and the Southeastern United States.
Website: http://Ericlindseydiversify.com
Click on the link below to schedule a call with Eric:
https://calendly.com/moonlightequitiesgroup/scheduled-conversation
Key Highlights from the Episode:
[01:56] Meet Patrick Grimes and learn how he entered the real estate industry.
[03:36] Discover the motivation behind Patrick's proactive involvement in real estate while maintaining his W-2 job.
[04:46] Understand the importance of understanding market volatility and uncertainties and diversifying investments.
[07:29] Explore energy investments, including their pros and cons and the possibility of syndicating this asset class.
[11:12] Gain insights into the regulations governing syndication in oil and gas investing.
[12:53] Uncover how Patrick began closing property deals while committed to his W-2 job.
[14:56] Understand the process of scaling up in the multi-family real estate arena.
[18:06] Learn from Patrick's reflections on what he wished he knew during the early days of real estate syndications.
[19:01] Determine the duration it took for Patrick to complete his first deal.
[19:22] Discover Patrick's approach to balancing personal and business life for optimal growth in both areas.
[20:14] Find out the best approach to starting a real estate business similar to Patrick's, even with limited time and resources.
[21:19] Learn the most straightforward way for a General Partner (GP) real estate syndicator to connect with a limited partner.
[22:20] Find out the book Patrick recommends for aspiring moonlighting entrepreneurs.
[24:20] You can explore how to contact Patrick and establish a connection.
Notable Quotes:
- "There are always inevitable market trends and uncertainties, so you must learn how to diversify your investments. Do not put all your eggs in one basket."
- "No one is immune to analysis paralysis. Scaling up your business will scare you because, often, it will mean sharing a business with others."
- "Any deal you focus on closing should fulfill the criteria of surviving any recession."
Resources Mentioned:
Grab a free copy of Patrick’s co-authored book: https://investonmainstreet.com/persistence-game-changer/
Connect with Patrick Grimes:
Website: https://investonmainstreet.com/