Looking to excel in real estate investment and leadership?
In this insightful episode of The Reality of Winning Podcast, we sit down with Patrick Dosmunroe, founder of Clinical Capital and TransRadiant Health. Patrick shares his incredible journey from healthcare to real estate, offering invaluable advice on achieving success with a people-first approach. Join us as we explore:
→ The power of embracing your current situation and solving problems with time → Patrick’s journey from healthcare professional to real estate investor → Essential knowledge for starting in real estate investment → The importance of serving others in your investment strategy → Key leadership insights for fostering a community mindset → Overcoming financial struggles and changing your blueprint for success → Strategies for investing with purpose and achieving impactful returns
Discover how Patrick’s unique approach to real estate and leadership can inspire you to elevate your own journey. Tune in for practical tips and motivational insights that will help you transform your financial future and leadership skills.
Looking to excel in real estate investment and leadership?
In this insightful episode of The Reality of Winning Podcast, we sit down with Patrick Dosmunroe, founder of Clinical Capital and TransRadiant Health. Patrick shares his incredible journey from healthcare to real estate, offering invaluable advice on achieving success with a people-first approach. Join us as we explore:
→ The power of embracing your current situation and solving problems with time → Patrick’s journey from healthcare professional to real estate investor → Essential knowledge for starting in real estate investment → The importance of serving others in your investment strategy → Key leadership insights for fostering a community mindset → Overcoming financial struggles and changing your blueprint for success → Strategies for investing with purpose and achieving impactful returns
Discover how Patrick’s unique approach to real estate and leadership can inspire you to elevate your own journey. Tune in for practical tips and motivational insights that will help you transform your financial future and leadership skills.
Most issues we face can be solved with time. Embrace where you are. Whatever situation you're facing, the goal should be what's the problem and what's the solution, and there's going to be two things. Number one there's probably an immediate solution. Number two you're probably going to need time.
Speaker 2:
Hi everybody. I am here with Patrick Desmarais and I am so honored and grateful to have him here with us. Every single day, patrick is on LinkedIn inspiring everybody to just believe in themselves more, be better, live in their truth, and I just I love every single piece of content that he puts out. So Patrick is the founder at Clinical Capital and Transradiant Health. He's also a real estate investor. He's a healthcare leader. He works as a PA in the hospital Health. He's also a real estate investor. He's a healthcare leader, he works as a PA in the hospital and he's also a public speaker. Patrick, thank you so much for being here with us, and I would love if you could just kind of share a little bit of your background and how did you start? Were you in healthcare first real estate? How did all of that come about?
Speaker 1:
Well, natalie, thank you so much for having me. It is such a pleasure to be part of your journey and to follow you on LinkedIn. Thank you for being a daily inspiration, not only for me but for anyone who will come across your content. Medicine for me started when I was 14. I lost my little brother when he was 12 years old. That's when my passion for medicine really started. I was curious what happened to him. How could he be gone so quickly? And it was a matter of days and he passed away.
Speaker 1:
Up with that mindset, I have to have a degree in medicine and I immigrated to the US and I continued that passion. And my passion for real estate started when I see my parents as immigrants trying to restart their lives and see them struggling to pay the mortgage every on a monthly basis, and I make it a passion of mine, a goal of mine, to learn as much about real estate. And then I pursued my degree in medicine and started working as a PA, and that continued and started investing in my own properties, and that's how my passion for real estate started really.
Speaker 2:
That's incredible and I love that you're positioned with purpose and, you know, just kind of put in this situation and you looked at it as a growth opportunity and just an opportunity to make the world a better place. So I just want to honor you for that and I think you know. I would love to know, when somebody is struggling financially or maybe they're a business owner and they want to start getting into real estate investments, what are some of the things that they can do currently to kind of start changing that blueprint for themselves and taking the proper steps to get into it?
Speaker 1:
The key is number one understand real estate, understand how it can fit your long-term goals. If I were to start over, I would do the same thing I did. I started with knowledge, not with funds.
Speaker 2:
I think that's really powerful because if you lack awareness, you're going to make a lot of mistakes and you're going to lose a lot of funds, right.
Speaker 1:
You can find a group of friends of yours or people in your network that are full-time investors that, taking any sort of investor meaning at that point, would be a passive investor. These are what we call active real estate investors. This is what they do on a daily basis. They study the market every day. They know what's going on. There are other groups that do syndications. Like someone like myself, I bring healthcare professionals together physician assistant physicians, clinical pharmacists, clinical psychologists anyone that's qualified as what we call an investor that meets certain criteria, then you can be part of that group. So there are several, several different layers. You can be uh, you can go uh to be a well-said investor. You just need to know where you are and what are your qualifications are so does this group.
Speaker 2:
Basically it's. You know what are the qualifications and the criteria to establish this ecosystem of people, and then you guys all kind of put the money together and then buy multiple properties. Is that kind of how that works?
Speaker 1:
yeah, for example, in my situation, with my good clinician capital, we uh work with accredited investors. Uh, accredited investors in the us basically means that, as a single individual, you're making 200 000 basically means that, as a single individual, you're making $200,000 a year or more, or as a couple, $300,000 or more, or you have a net worth of $1 million, not including your primary residence. This you know. This is what an accredited investor means for SEC guidelines. It does not mean that you have to have certain certifications to be an accredited investor. It's just you have to meet certain criteria. And there is also the group would do. You know they have different criteria. You have REITs, basically the real estate type of stocks you can buy. Then they give you a dividend every month or on a quarterly basis. This is a starting point. You probably can start with a hundred bucks. You buy four or five shares, depending on how much the share is. It's a way to start.
Speaker 2:
So if somebody wanted to start a company like that, what are some of the steps that have to be taken?
Speaker 1:
Number one is knowledge. Right, you have to understand. You know people work hard for the money. You know. You have to know and understand what you're doing. You cannot take people's funds if you do not know what you're going to do with it and making sure that they will have an income or they will have a return. For example, you know I could buy a property today, but this year I haven't bought a property just because I want to make sure that I have a return for my investors. And and you have to know the market, you have to know interest rates, you have to know what the rates are in the area. And then you have to do very thorough analysis to make sure that you have a return for your investors. And you have to know the market. You have to know there's actually a return for your investors.
Speaker 2:
So I think ultimate takeaway is put the people first and make sure that everybody is going to have that return that they're looking for and hoping for, and do it for them versus like yourself, right.
Speaker 1:
Absolutely. You're serving the investors. You're there to serve them. You're there to inspire them. You're there to help them reach their goal. That should be your number one priority. Otherwise, you shouldn't be doing that.
Speaker 2:
Yeah, I think you always have to start with why you need your knowledge, but you also need to know why you're doing it. Right? You talked about having stocks or shares in investments and stuff, right? So is there a step that you have to take in the way that you register this company in order to have those stock options available, or how does that part work?
Speaker 1:
My company. We're not publicly traded. You would not be able to go and just, we don't have a ticket to buy stocks from us at the stock exchange. But there are other companies who do that. They are what we call REITs. They're basically real estate investment firms that give people an opportunity to own the stocks and they give you dividends every month. These are available and there are tons of them. You just have to do your research, find out what the dividends monthly or quarterly dividends are, and then you just know the ticket and you just go in any platform Robinhood or Schwab's, whichever you just buy them.
Speaker 1:
This is one way, and the other way is privately held companies like MyClinicianCapital. You reach out, I do a presentation, I show you what the company is and what we do, and then, once we have an actual property to invest in, we call you and let you know hey, we have that property. This is the minimum you can invest in this property. This is how much we're buying it for. We present it to you as an investment opportunity with all the details, all the income, all the expenses. You're basically an owner in that property as a limited investor. You're not actively managing the property, but you have ownership in that property as what we call limited investors. You're not actively managing the property, but you have ownership in the property.
Speaker 2:
Based off of your personal experience, what do you feel are some of the best types of property to invest in?
Speaker 1:
It depends on what your goals are. Me personally, my entire focus is multifamily, an apartment complex of 50 100 units. These are the things that I love, but that's not the only thing. There are many other stuff. There are medical buildings you can buy, there are industrial buildings, you can buy warehouses, and there is uh storage units, uh mobile parks there are. There are a lot. You just sort of have to choose what you like what you like and what you know and what you understand. You give your, your investors, opportunities.
Speaker 2:
You look for opportunities for investors I love the people first approach in every situation and I feel like I need to take note and put that forward as much as possible in my life in every way. I'm good at doing it in my own business, but I feel like as you learn and you evolve and you expand into new things, sometimes you have to reteach yourself to do things. I appreciate you sharing that with us and I know you're very passionate about leadership and I know you talked to me before about leadership and I know you you talked to me before about leadership and I would love to maybe get your top three pieces of advice for somebody who is in leadership and to basically show up with that servant attitude that you express so, so thoroughly every single day.
Speaker 1:
Number one is to have a community mindset as a leader, when you build into a team, you are part of the team. It doesn't matter if you're the CEO, it doesn't matter if you're the janitor. You contribute something. Can you imagine showing up to a building or hospital without the janitors? We would not be able to stay in there for any amount of time because the place would not be clean. So everyone has something to contribute. You have to give everyone their credit and give everyone the credit for the efforts and for being part of the team. That's number one thing of being a leader. And then number two, it's about inspiring these people to be the best wherever they are and whatever, a leader. And then number two, it's about inspiring these people to be the best wherever they are and whatever they do. And third is to influence them by, not words only. Most importantly, your actions. Do the things that you say you would do, and people will follow.
Speaker 2:
I would love to know, when it comes to self development, self evolution, we're always just trying to become the very best version of ourselves. We're, you know, consistently going through obstacles in life. What are some of those core obstacles that you kind of overcame on your journey and your growth, and what three pieces of advice that you would give somebody else to, just, you know, really keep in mind and on their heart during that process?
Speaker 1:
One of the things that, as a leader, you have to have in mind is get ready for the day to deal with an issue.
Speaker 2:
Always be in preparation.
Speaker 1:
Always be in preparation. Something somehow will come up, embrace where you are. Whatever situation you're facing, the goal should be what's the problem and what's the solution, and there's going to be two things. Number one there's probably an immediate solution. Number two you're probably going to need time. It may be you need an extra X amount of dollars to solve that problem and before you can solve it you need to work X amount of time to solve that problem. Most issues we face can be solved with time.
Speaker 2:
I think the most valuable thing to know and remember during that process is that every problem can always be solved right. Problems are never permanent and they never last forever. So as long as you can appreciate a long-term mindset and really own that, I think you can consistently just kind of push through the discomfort and understand that there's peace available for you in that moment because you know that, no matter what, it's all working together for your good anyways, right.
Speaker 1:
And then, number two, have a growth mindset. There's no limit to what I can accomplish, what you can accomplish. The limit is what you give yourself. It doesn't matter what anybody else say. It doesn't matter what group you belong to. Only you can limit you.
Speaker 2:
When somebody, let's say they're maybe they're struggling today and they are navigating in the fog, they're a little bit, you know, lost on their journey and they're listening and tuning in today, what piece of advice would you give that person to help them have more of a growth mindset?
Speaker 1:
Number three is to know who you are. Do not ever wait on someone to remind you who you are. Look at yourself in the mirror every day. What you see in that mirror is what the world sees. So when someone comes using you, whoever you are, whatever you look like, when they use that to remind you, to put you down, you've already had the answer. You cannot.
Speaker 2:
So, patrick, what about when it comes to how we speak to ourselves? Because I feel like you speak a lot of life on LinkedIn into people and I think words are very, very intentional. Words all have such a strong meaning and we often poke up problems or we talk about the pain, the suffering, the issue, but we don't speak enough life into things. So, when it comes to kind of speaking to ourselves, what are some key things people could do to focus on to really make sure that they're always maybe staying in line with those values and having that reflection chat be positive?
Speaker 1:
You must know who you are and when you look at yourself, you have to give yourself the best. If you do not give yourself the best, you cannot give anyone else the best. If you do not say the best words to yourself, love yourself, you cannot give this to somebody else. Here's what's going to happen. If you don't, at the very beginning of establishing any relationship, whether it's work, whether it's personal you will start to give what you think is the best. You'll do a good job at it. Then there'll be a moment you'll crash because you're giving so much energy externally and internally you're not cultivating any. Then you will want out of reserve, and what would happen when you went out of reserve? That relationship will not be the same. Say the best word to yourself. Be grateful for where you are. It does not matter where you are right now. It does not matter if you are sleeping at someone's couch or if you don't have a couch at all to sleep.
Speaker 2:
Yeah, your cup has to be full in order for you to pour into others right and to live out that truth and that mission and to be able to have that community first mindset. If your cup is in full, you can't. You can't do any of it right, you're just kind of stuck in. I would call it maybe like a selfish mindset. So there's one question I ask every single guest, patrick, and that is what does the reality of winning mean to you?
Speaker 1:
The reality of winning simply means that I do the things that I want to do when I want to do them.
Speaker 2:
I like that. Well, patrick, I have your profile link here for LinkedIn. Everybody can go and click over and follow you on LinkedIn. Patrick is probably the most inspiring person on LinkedIn, so go click over and follow him. Is there any other links that we should kind of include in there for people to go and check out?
Speaker 1:
I'm on Twitter and Instagram. People can also. They can follow Transradiant Health. It's basically a weight loss program that I run for anyone who's in Florida, virginia or Maryland. I'm more than happy to help them in their weight journey. And also they can follow Clinician Capital on LinkedIn and Instagram.
Speaker 2:
We're going to have a pile of links for you guys in the comment section below. Patrick, thank you so much for being with us here today and sharing your wisdom with us. I really appreciate it and you.
Speaker 1:
Not only thank you so much for having me, this is outstanding.
