Patrick Donley chats with Tyron McDaniel about his background and career, his work in inner-city Houston, and his thoughts on making housing more affordable at scale. You’ll also learn about Tyron's innovative approach to renovating and developing homes, his views on gentrification, and advice he gives to young people based on his many years of real world experience.IN THIS EPISODE, YOU’LL LEARN:00:00 - Intro02:04 - What it was like growing up in the 5th Ward of Houston.02:04 - How he was able to see a good part of the country at a young age.05:25 - What happened after he “quit-uated” from college.05:35 - Why driving a semi was formative for his life and career.07:33 - How a book on tape he listened to changed his life and perspective.12:03 - What some of the old school real estate infomercials were like.13:35 - How he got into the mortgage industry after being in trucking and focused on sales.22:45 - How he got involved in buying real estate and netted $22,000 on his first deal.24:41 - What it was like being a lender during the GFC of 2008.26:31 - Why a nightmare renovation made him move toward new construction.27:35 - How he learned about the power of partnerships.34:11 - What the benefits and challenges of buying “old raggedy houses” are.45:43 - What his thoughts on gentrification and affordable housing are.56:42 - What his strategy is after renovating an older home.56:42 - How he views where we are in the current market cycle.01:02:30 - What his strategy is going forward for other asset classes.01:02:44 - What are some other asset classes that are of interest to him?01:06:35 - Why RE Twitter is such a valuable resource.01:06:35 - Advice he gives to young people.And much, much more!*Disclaimer: Slight timestamp discrepancies may occur due to podcast platform differences. BOOKS AND RESOURCESThe Everything Guide to House Hacking by Robert Leonard.Rich Dad Poor Dad by Robert Kiyosaki.The Big Short by Michael Lewis.Risk Game by Francis Greenburger.Related episode: Listen to REI184: Beauty in Broken Things w/ John Marsh, or watch the video.Related episode: Listen to REI169: The Rise of a Real Estate Entrepreneur w/ Donovan Adesoro, or watch the video.NEW TO THE SHOW?Check out our Real Estate 101 Starter Packs.Browse through all our episodes (complete with transcripts) here.Try our tool for picking stock winners and managing our portfolios: TIP Finance Tool.Enjoy exclusive perks from our favorite Apps and Services.Stay up-to-date on financial markets and investing strategies through our daily newsletter, We Study Markets.Keep up with the latest news and strategies on real estate investing with the best real estate podcasts.P.S The Investor’s Podcast Network is excited to launch a subreddit devoted to our fans in discussing financial markets, stock picks, questions for our hosts, and much more! Join our subreddit r/TheInvestorsPodcast today!SPONSORSGet a FREE audiobook from Audible.Have the visibility and control you need to make better decisions faster with NetSuite’s cloud financial system. Plus, take advantage of their unprecedented financing offer today - defer payments of a full NetSuite implementation. That’s no payment and no interest for six months!Your home might be worth more than you think. Earn extra money today with Airbnb.Support our free podcast by supporting our sponsors.Connect with Patrick (@jpatrickdonley): TwitterConnect with Tyron McDaniel: Instagram | Website | TwitterSee Privacy Policy at https://art19.com/privacy and California Privacy Notice at https://art19.com/privacy#do-not-sell-my-info.