Episode 147 – Madeleine & Patrick Gergen – Collaborative Lives for Significant Impact

“We formed our “why” [which] is for social impact. It just so happens to be through real estate because that’s what we know and that’s where our experience lies. Patrick’s and my mission is to affect as many people’s lives as we can and we can do this through real estate. – Madeleine & Patrick Gergen


 
  • [02:08] Patrick introduces his next TEDM guests, Madeleine Gergen and Patrick Gergen.
  • [04:07] Madi, Patrick & Patrick get going with their conversation as they re-connect, learn what they’re up to, and how they’re working to help support their investors through the unique advantage they present.
  • [06:04] Patrick explains the type of social and environmental impact they strive for in their buildings which makes a positive difference for the “unsung heroes”, their tenant clients.
  • [07:54] What’s the draw to Dallas, TX? Madi shares not only the type of multi-family buildings they invest in, but also why they’ve made Dallas the focus of their investment ventures. Patrick expands on what specifically brought him to focus on Dallas through his experience of moving from single-family homes and into commercial/multi-family.
  • [11:15] Their mutual interest in commercial real estate proved serendipitous for Madi and Patrick when they met at a Las Vegas bootcamp! Madi recounts her story growing up in Alberta, what led her to REIN and her own real estate investing journey, and the commercial bootcamp where she met Patrick. Patrick adds his perspective to first meeting Madi, and the impression both she and REIN left him with.
  • [17:13] Madi drew her inspiration and drive to entrepreneurship from her mom, learning from and emulating her work ethic. Real estate investing was something her brother introduced but Madi’s passion pushed her to absorb and learn as much as she could through courses, training and eventually REIN back in 2003. Her drive is fueled by her love to make the impossible, possible, and entering the US real estate market working with Canadian investors was just the arena for that.
  • [23:43] For Patrick, his entrepreneurial path was born more out of necessity than an intrinsic quality. Starting from a paper route when he was 11, Patrick developed a strong work ethic that eventually led him to construction, flipping, and building a real estate investing business. The recession of 2008 was a pivotal moment where Patrick began to build multiple streams of income.
  • [27:37] Together Madi & Patrick formed their “why” and vision when they started building a business together. Creating a social impact through real estate is the driving energy behind their business and the contribution they wish to make in their communities.
  • [30:48] The mechanics of their operating model has changed over the years along with the market shifts, and Madi explains what they’re doing now to increase value in their buildings and their real estate fund. Madi talks about the participation rate with the community programs they offer and their learnings along the way.
  • [37:44] Patrick walks us through their investment model, how they present their offerings to potential investors and how they build a mutually beneficial relationship with their investors.
  • [42:52] Working to their strengths to achieve greater outcomes and have fun doing it together. Patrick and Madi each share their perspectives on working together and sharing their lives together.
  • [50:05] In the context of coaching, Patrick and Madi offer guidance around ways to help couples come together in business and tactics they’ve used to build trust and check points with one another.
  • [53:39] Clarity through written vision, targets, and goals. Patrick and Madi employ intentional strategies around the way they show up in everyday life to go after, sometimes shift, and achieve their goals.
  • [57:43] Patrick and Madi each share what they’ve gained and learned between 2020 and 2022. Overall, they have received the great gift of laser focus.
  • [63:20] Patrick speaks to a catastrophic event in his life, and how he moved through it into something better. Madi contributes her experience within the same timeframe, how it affected her business, and the gifts it brought to her life.
  • [66:31] “It’s good to have a little bit of fear, it keeps you on your toes.” Wise words from Madi’s dad helped her work through challenges and continue forward. Failure is inevitable, but we pick ourselves up, keep going and realize most often, the worst-case scenario or our fears just don’t come to pass.
  • [69:08] Patrick and Madi share a similar definition of success beyond money, which foundationally lies in loving what you do, why you do it, and who you’re significantly impacting.
  • [71:10] A ping-pong roll into rapid fire: iPhone or Android; a job they each do, even though they don’t like it; favourite inspirational quotes; favourite swear word; favourite books; paper books or audio; room-desk-car.
  • [78:48] Madi’s gratitude.
  • [79:37] Patrick’s gratitude.

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