The First Investment in a Condominium

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"I was super fortunate. My dad was doing a condominium project right when I was in at this investment bank," he said. "And it was like a little two bedroom, 1400 square foot condominium and I rented it out to this lady and her husband." He says she's paid for the place 'several times over' with rent cuts. The couple still live there; they've been together since 1993.

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.

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