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Patrick Donley talks with Donovan Adesoro about how his start in house hacking fueled the desire to do larger deals which led to him developing 16 duplexes in the Houston area with an additional 30 currently under construction.
Donovan is a 26-year-old real estate developer and also Investor Relations Director for Fund That Flip. He is originally from St. Paul, MN, and graduated with a petroleum engineering degree in 2019. After moving to Houston, TX, for a job in the oil industry, he got his start in real estate with a house hack of a duplex during the middle of the pandemic.
Noticing a lack of duplex inventory throughout the city, Donovan decided to raise outside capital and build them himself, which he has done several times and intends to get into even larger-scale projects in 2023.
IN THIS EPISODE, YOU’LL LEARN:
– How Donovan got his start in house hacking- What the pros and cons of house hacking are
– Why he jumped from house hacking to developing duplexes
– What it took to break into the development world
– How he went about raising capital
– What resources and first steps he would recommend to beginning investors
– What the steps are from purchasing a vacant lot to the final end product
– What his exit strategy is plus his plans for the future
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▶️ RELATED EPISODE
– (MI215) The Everything Guide to House Hacking w/ Robert Leonard:
– (REI090) The Guide to Real Estate Investing w/ Brandon Turner:
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On Real Estate 101, we interview successful and experienced investors from various niches such as Chad Carson, Axel Ragnarsson, J Scott, and more about strategies and actionable advice that will help you on your journey, whether you’re just getting started or looking to grow your business.
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WHO I AM:
I’m Patrick Donley, founder and managing director of The Wexford Group, a real estate 🏘️redevelopment company based in Columbus, Ohio. I’ve lived and worked abroad and had a wide variety of adventures including studying economics in Luxembourg, writing for a business newspaper 📰in Vietnam, attempting to learn Spanish 🇪🇸 in Columbia, and biking 🚲across America to raise money for Habitat for Humanity. I can usually be found listening to podcasts 🎧, enjoying time with family and friends 👪, or attempting to hone my golf game ⛳.
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❗ DISCLAIMER: This show is for entertainment purposes only. Before making any decisions consult a professional. This show is copyrighted by The Investor’s Podcast Network. Written permission must be granted before syndication or rebroadcasting.