Seizing Opportunities in Distressed Commercial Properties with Patrick Grimes
In this episode, we're bringing to you Patrick Grimes a seasoned real estate investor, to explore the strategies and opportunities available in today's market. Patrick shares his journey from a high-paid professional to a successful real estate and oil and gas investor, emphasizing the importance of financial resilience.
Listen as we discuss the current real estate market and the unique opportunities it offers, especially in distressed commercial properties and debt instruments. Patrick explains how investors can provide relief to operators facing financial challenges and benefit from the current market conditions.
This episode offers valuable insights into real estate investing, financial resilience, and capitalizing on today's market conditions. Patrick's expertise and passion for helping investors make informed decisions shine through, making it an informative and engaging discussion.
About the Guest:
Patrick has fifteen years of experience in active real estate investment: purchasing distressed assets, renovating, and stabilizing for long term cashflow. His portfolio includes controlling ownership over 4000 units in the emerging markets across Texas and the South Eastern United States.
In addition to his real estate experience, Patrick holds a Bachelor of Science in Mechanical Engineering from University of the Pacific, and a Master of Business Administration and a Master of Science in Engineering from San Jose State University. He has spent 15 years in corporate America working for machine design firms to concept, design, and build one-of-a-kind custom manufacturing automation and robotic systems. In addition to working closely with the technical engineering teams, he travels globally working to negotiate contracts and secure multi-million dollar investment for automation programs. He has been able to leverage his corporate experience and real estate knowledge to help pave the way for future success.
https://www.linkedin.com/in/patricksgrimes/
https://investonmainstreet.com/
Fast Five Questions
- If you woke up and your business was gone, you have $500, a laptop, a place to live, and food, what would you do first? "I'm gonna go look for where that immediate income is to a support the family"
- What is the biggest mistake that you have made in business? "When I dove into way got way over my head, highly leveraged all in on one deal fully recourse in pre development"
- What is a book that you would recommend? "A CEO Only Does Three Things by Trey Taylor"
- What is a tool that you use everyday that you would recommend? "Chat GPT, Google Bard and other AI tools"
- What is your definition of freedom? "The ability for us to live where we would like to live, and to be able to choose what we get to do when we wake up"
About Jeff:
Jeff spent the early part of his career working for others. Jeff had started 5 businesses that failed before he had his first success. Since that time he has learned the principles of a successful business and has been able to build and grow multiple seven-figure businesses. Jeff lives in the Austin area and is actively working in his community and supporting the growth of small businesses. He is a board member of the Incubator.Edu program at Vista Ridge High School and is on the board of directors of the Leander Educational Excellence Foundation
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