Nick: How did your strategy of all over time? It sounds like you were doing a little bit of your fix and flip, but then you'd stabilize them, rent them out. Were you starting to try and take some equity out of these properties, refinance them and grow up portfolio? Nick: I was just buying stuff for 10, 12, $14,000 fixing them up, putting tenants in. In a lot of cases, I would do like a renovation that would be to the point where like what I would do if I were to sell it to a first time home buyer.
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.
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