Real Wealth Show: Real Estate Investing Podcast Becoming W-2 Optional: How Patrick Grimes Built Real Wealth Through Diversification
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Nov 11, 2025 Patrick Grimes, a former engineer and now a successful investor, shares his journey from a W-2 job to financial independence. He discusses the challenges of losing investments during the 2008 downturn and his recovery through education. Grimes dives into the importance of diversifying into real estate, energy, and alternative assets, emphasizing their stability compared to stock investments. He offers practical advice on networking and disciplined investing that can help anyone become work-optional and build long-term wealth.
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Early Collapse Shaped His Strategy
- Patrick invested in pre-development residential plots before 2008 and lost everything during the subprime collapse.
- He recovered without bankruptcy but experienced foreclosure and used the setback to change strategy.
Choose Recession-Resilient Markets
- Patrick researched recession-resilient markets and bought single-family rentals in Houston for stability.
- He prioritized three-bedroom, two-bath existing homes in diversified-employment, landlord-friendly markets.
From Single-Family To An 86-Unit Partnership
- Patrick moved from single-family rentals to partnering on an 86-unit apartment to scale and reduce management burden.
- Partnering and co-GP deals launched his multifamily investing path.
