In this episode of Money Tales, our guest is Patrick Grimes. Patrick thought he had struck gold with a high-risk, high-reward pre-development real estate project that promised big returns. But 2009 hit, and instead of achieving riches, he lost it all: the property was foreclosed, the IRS came calling and Patrick was left to rebuild from scratch. In today’s episode, Patrick shares the hard-earned lessons that reshaped his entire financial philosophy to one of cautious leverage and diversification.

Patrick is CEO and Founder of Passive Investing Mastery. Since 2007, Patrick has actively engaged in diverse alternative investments, including nearly 5,000 multifamily units and roles in commercial lending and energy. He is an international bestselling co-author of the Amazon #1 best-sellers ‘Persistence, Pivots, and Game Changers,’ and ‘Persuasive Leadership,’ also a Barnes & Noble #1 Best-Seller.