Today's guest, Patrick Grimes , is a design engineer and CEO and Founder of Invest on Main Street, LLC. Like so many real estate investors, Patrick Grimes learned a lot of lessons the hard way in 2008 and 2009. Having begun i...
Today's guest, Patrick Grimes, is a design engineer and CEO and Founder of Invest on Main Street, LLC. Like so many real estate investors, Patrick Grimes learned a lot of lessons the hard way in 2008 and 2009. Having begun investing in single-family homes in 2006, he found himself at the top of a market that (supposedly) had no top. Since all single-family loans are full-recourse loans, the banks came not just for the affected properties, but for all of Grimes’ assets. He lost everything. It took him years to recover. Today, the situation is much different. As the founder and CEO of Invest On Main Street, he manages a portfolio of thousands of apartment units — all with the benefit of non-recourse loans and economies of scale. To hear more about Patrick Grimes and his story, please make sure to tune into this week's episode of The Road to Financial Freedom.
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