How to Be a Successful Real Estate Investor

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Real estate is very much a relationship business and, you know, managing the relationship with the tenant. I was below market rate a little bit, but I wasn't doing it to like maximize my cash flow. In several cases, I would then rent to women that in one case had been in prison for 20 years for murder. This lady was amazing. Similar to my very first tenant who's lived in this kind of mini of my own forever.

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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