Very excited to have Patrick Menefee on the show. He is the founder and CEO of Invest DGP. He created the Invest DGP platform to give back to the community and help others the way he’s been helped!
Patrick grew up in Minnesota. He graduated from Ranger School in 2012 and spent time in Africa and Southwest Asia over his 6-year career as an Infantry Officer before joining corporate America. He started with small multifamily properties and quickly scaled from 8 properties and 20 units within 10 months of getting started. He was able to do this while working full time in the banking industry as a consultant with one of the Big Four, spending every week traveling and living out of a hotel. In August 2020 He shifted his primary focus to house flipping, and on October 30, 2020, decided to quit his well-paying full-time job to go into real estate full time. He currently runs and is scaling a house flipping business in the Charlotte, NC MSA.
You can do real estate as an investor or as a full-time business. Patrick loves real estate and the business side of it so today, He shares the key lessons he learned about the business side of real estate, taking massive action, how he transitioned from real estate as a side hustle to a full-time business, learning from past mistakes, and how to go about finding the right people once you’ve made this decision. Tune in!
If you would like to know more about real estate investing. Check our website pintocapitalinvestments.com.
In this episode, we explore:
-Guest Background
-Military background and how he got into real estate
-What made him take action
-Own money or raise capital?
-First two properties
-Calling up a contractor
-One of the main reasons people get into real estate on the side
-Getting into hiring
-Transition from real estate investor to a real estate business owner
-Options as a CEO
-One that looks out and away while the other one looks down and in
-How to go about finding the right person
-Partnerships
Patrick was born and raised in Minnetonka, MN. After earning a business degree from Iowa State University he was commissioned as an Infantry Officer in the US Army. He graduated from Ranger School in 2012 and spent time in Africa and Southwest Asia over his 6-year career before joining corporate America as a consultant at a Big Four firm.
Snapshot: 40:26
1. What is your number one failure in real estate?
-Being too trusting. The worst deals were tied back to that.
2. What advice do you have for other military investors to be successful?
-Systems. There are a ton of systems that are in place and you can learn from those.
-Setting and enforcing standards. You need to have standards for everything you do in your business.
3. What inspired you to serve your country?
-Sense of duty and honor
-A neighbor who enlisted ahead of me. I saw him go do it and that was a very big inspiration for me.
4. What is your dream?
-Build a legacy, a life. Leaving an impact on my family and for God.
Connecting with the Guest:
Website: https://www.investdgp.com/
LinkedIn Profile: https://www.linkedin.com/in/patrick-menefee
Instagram: https://www.instagram.com/investdgp/?hl=en
Facebook: https://www.facebook.com/patrick.menefee.3
Email: patrick@investdgp.com
Youtube: https://www.youtube.com/channel/UCxbnzkSXJD4lF4z_lTtqgvQ
#realestate #multifamilyproperties #bankingindustry