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Show Summary
In this conversation, Jay Patel discusses his journey in the real estate market, focusing on his contrarian approach to investment, the importance of community and mentorship, and his future goals for growth and philanthropy. He emphasizes the need for a strong network and the value of being involved in the day-to-day operations of his business.
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Investor Fuel Show Transcript:
Jay Patel (00:00)
Yes and no. And the reason I say no is because, you know, of course things go wrong. What, when you, like I said before that, that trait that I kind of try to embody is, know, when things go wrong, whether it’s an employee did something wrong, something in the deal you purchase went wrong.something on the business level went wrong or gazillion other things policy changed. You can be upset. You know, things in the market might change and that could rattle you. Yeah. But don’t get me wrong. I’ve kicked and screamed and gotten upset, but at the end of the day, I still look at that. I’m like, it’s my responsibility to kind of figure out how to plan and prevent those things in the first place. Make sure that
You know, I have a high level of ownership in this in the same regard that I delegate. I don’t delegate things too quickly. Yeah.
you know, social media will say grow your business, delegate to everybody. Don’t, you know, focus on the high level. And it’s like, it’s not so simple because that causes a lot of potential breakage.
Quentin Edmonds (02:44)
Welcome to the Real Estate Pros podcast. I am your host Q Edmonds. Another fantastic day, another exciting day, another day to be alive and have gratitude and another chance to talk to somebody fantastic. So I have another fantastic guest. listen, know, I’m gonna let this gentleman tell you, you know, the different things that, you know, that he’s involved in. Now I’ll just tell you a little bit, you know, he’s definitely.focus on like, you know, retail investors, regions that make sense, and just focusing on a tight region. And what that lets me know is that he know what he want and he’s going after what he wants. And I’m excited for us to peek through his lens, get to know a little bit more about him and what he do and his processing. And so I want to introduce you all to Mr. Patel. Patel, correct? Did I say that last name right? That’s it.
Jay Patel (03:36)
Yeah, that’s it. There’s probably at least 5,000 Jay Patels that you’ll probably meet over your lifetime. It’s a very common name.Quentin Edmonds (03:44)
I did not, you know what, did not know that, but that’s good to know, ⁓Jay Patel (03:48)
I’m the first Jay Patel you may have met. How’s it going guys? Jay Patel, working as Ivory Equity. We purchased $15.5 million in real estate last year, which we’re really blessed to have done. My background is worked in corporate real estate for six, seven years, placed $7 billion worth ofQuentin Edmonds (03:51)
Thank you, yeah.Jay Patel (04:19)
debt for ⁓ investors from the institutional level, the blackstone ⁓ of the world down to people doing their first indication or first ever real estate deal. ⁓ Transitioned into my own investment company along with me and some family members and excited to continue to grow, excited to be here. Thank you, Quentin.Quentin Edmonds (04:44)
Absolutely, man. Well, thank you. He’s been always drew some big numbers out raised 15 million for on your own, know, for your company, seven billion, you know, for other people. So obviously, you know what you’re doing. But Jay, I want to ask you, give us a little bit of an origin story, man. Like, how did you get in real estate? When did that bug hit? When did that passion hit for real estate? Or was it just something like you like, this is something I got to do. Give me an origin story of how you got into it.Jay Patel (06:00)
Yeah. So I grew up around a family of entrepreneurs, which, you know, I wasn’t sure if I was ever going to be involved or wanted to be involved in it, but I grew up as a little kid walking around, you know, some retail stores that my, family had, before right before I went to college, my uncle and my, and my parents had bought a multifamily property.this was before it became cool. So yeah. And shortly after I’d gotten into college, I started seeing all the Instagram, you know, posts about how real estate is so awesome. And that kind of, ⁓ with my background and all the social media influence around me, I kind of decided that that’s sort of the path I wanted to take. ⁓ so when I left college, I jumped into.
Quentin Edmonds (06:29)
Yeah.Jay Patel (06:56)
⁓ corporate real estate, I had a tech background, had a tech degree in management information systems from Boston University. And I turned down some offers in ⁓ technology consulting roles that I had been offered, but ⁓ took it for a lesser paying job in real estate. Worked in asset management and then moved over to the front end banking side where I’veplaced capital for, as I mentioned, really large investors that are doing really interesting deals and looking at the top 30 MSAs in a very interesting light down to people doing their first deal and kind of just asking me how to fill out a personal financial statement. So I’ve seen it all. I’ve seen it all.
Quentin Edmonds (07:50)
Yeah, yeah. I love it coming from a family of entrepreneurs said you really wasn’t sure if this what you wanted to go into. And of course, you told us a little bit about your background, college, different things. And so, you know, I have a saying when I say destiny has no wasted moments. Just meaning just as we go through life, there are different things that we acquire a long outstop. They just kind of just make us who we are, you know, make us tick, make us, know, whatever tools we need. And so.I would love to know, have you identified or can you identify any core strategies, core tools, core personality traits that kind of make you who you are today in business and just as a man in general? Like what are some things that really kind of innate that makes you kind of center yourself and makes you kind of motivated and be who you are today?
Jay Patel (08:40)
Yeah, I think ⁓ a few things. When you grow up around an entrepreneurial family, by the way, you realize that ⁓ the buck kind of stops with you. So you become a person with a high level of ownership, high level of responsibility. ⁓Quentin Edmonds (08:53)
HmmJay Patel (09:08)
You see family members getting calls in the middle of the night because something went wrong. It doesn’t end at 5 PM. You’re coming home thinking about your business and calls about your business. And when you grow up seeing that, you grow up with that high level of responsibility and ownership. ⁓ And I think that’s something that’s translated over the years. I’m never late to a single meeting. I’ll show up 15 minutes early and I’m constantlyplanning out that schedule. It’s highly important to, when you’re growing a business especially, that you need excessively great time management. ⁓ The qualities of responsibility, time management, and constant ambition and growth, it’s just in the back of your head. Some people say it’s an addiction, it doesn’t stop.
You know, you’re constantly thinking about the next thing while you’re finishing up the thing in front of you too. yeah.
Quentin Edmonds (10:10)
Yeah,yeah, no, I love it, man. I quite often say this to when you know who you are, you know what to do, right? And so when you like you said, you know, watching family entrepreneurs watching the calls at night, when you know who you are, when you’re centered around your environment, you’re centered around like the personality traits that you have, you can drop a person in any situation, business wise or anything else, they know how to function because
They know who they are not easy. You seem like you’re a cool calm collective guy. You seem like you’re not easily rattle. It’s just seem like like hey, whatever it is, let’s figure it out. Everything’s gonna be okay. That’s what I get from you know what I mean? And so I absolutely love it. So on that tip,
Jay Patel (11:30)
No, just said I love that man. I appreciate that. I’ll take that ⁓ as a good compliment.Quentin Edmonds (11:35)
No, absolutely man. So have you faced any any adversity as you was growing? Like, have you been put to the test? Like, you know, have had things try to rattle you? Have you had to pivot fast in any kind of instance as you was growing your business? Have you bumped up against any adversity as you was growing?Jay Patel (11:51)
Yes and no. And the reason I say no is because, you know, of course things go wrong. What, when you, like I said before that, that trait that I kind of try to embody is, know, when things go wrong, whether it’s an employee did something wrong, something in the deal you purchase went wrong.something on the business level went wrong or gazillion other things policy changed. You can be upset. You know, things in the market might change and that could rattle you. Yeah. But don’t get me wrong. I’ve kicked and screamed and gotten upset, but at the end of the day, I still look at that. I’m like, it’s my responsibility to kind of figure out how to plan and prevent those things in the first place. Make sure that
You know, I have a high level of ownership in this in the same regard that I delegate. I don’t delegate things too quickly. Yeah.
⁓ you know, you know, social media will say grow your business, delegate to everybody. Don’t, you know, focus on the high level. And it’s like, it’s not so simple because that causes a lot of potential breakage.
So are you willing to be, as you said, rattled when things go wrong, or are you willing to kind of give it off in a, a proper method? ⁓ and at a, at a good pace. but yeah, things have gone wrong, man. ⁓ you know, I can give you.
a few examples, but they’re very like small minutia things where, know, we lose $10,000 here or $15,000 on a simple mistake, but you take it as a learning lesson, you grow up.
Quentin Edmonds (13:27)
Yeah. Man, I just love your perspective. I wrote down, because I think I heard you say this twice, a high level of ownership. And the reality is some of us, and I’ll say us, because I’m going put myself in that category, sometimes we do have issues taking accountability. Right. And so I really don’t have like New Year’s resolutions, but one of the things that hit meat the end of the year that I really said I was going to be more intentional about in 2026 is being curious. That’s my word for 2026, curious. And when I say curious, I’m about everything. I’m going be curious about why I get upset. I’m curious about why I don’t eat right. I’m curious about why I get angry. I’m going be curious about everything. curious about why I’m not making enough money in my business. Like really be curious. And then after curiosity, really confronting what’s in front of me, confronting the data.
Confronting what I’m curious about and I’m telling myself confrontation is not a dirty word confrontation just mean turning your feet and your eyes towards the situation and Confronting it letting it doing something about what’s in front of you. And so when I hear you say high-level ownership That actually hits me in a different way because I’m like, okay I’m listening to somebody very successful and that’s something I need to be more diligent about It’s taking accountability and then being willing to ask for help being willing to reach out do whatever
But at least take the ownership that is on me to try to fix this thing, to start the steps. And so you giving that nugget, that’s really, really been impactful for me. And I hope other people that’s listening, it’d be impactful for them as well. So Jay, let me ask you, sir, what is your next real goal? What are you looking to solve or scale next?
Jay Patel (15:55)
Yeah, as I mentioned, I think I have this big, bold number in the back of my head of the assets under management that I want to own.Next year, well, this year, 2026. It’s that $30 million in assets that we either acquire or build. This year, we’re planning to do both. That’s the next goal. I want to raise money for some of those deals. Candidly, we don’t necessarily raise money for all of them. We do take down some of them completely on our own. But we want to open up
Quentin Edmonds (16:09)
Right,Jay Patel (16:32)
you know, those opportunities to other people and, and cause it’s better to go with other people than to do everything on your own. I believe that it, makes it more fun. so we’re, we’re planning on having a lot of conversations with pretty much everyone we meet about what we do. that’s the end all be all goal. we also want to, when we do these deals, we want to take a portion of our GP and,donate that to a charitable foundation. So the dollar amount or any of that hasn’t been determined, you know, some of it’s gonna be in money and some of it’s gonna be in, you know, time that we dedicate ourselves.
Quentin Edmonds (17:07)
Got you. Oh man, the more you talk, the more inspiring you get, man. So I definitely hear that giving back. I think, you know, I say this too, I think at the foundation of any sustainable business is servitude, some type of level of servitude, serving your community, serving the people around you. And so when I hear stuff like that, that’s like good soil, you know, that’s, that’s a good foundation. Like how can you go wrong?with a mentality like that, you know, in a good business practices like that. And I love how you talked about, it’s better to do it with someone else, you know, it’s better to go at it with someone else. And so I want to talk about relationships for a little bit. And I want to get your perspective on relationship building. It seems like it’s important. It seems like you value it, but I would love for you to tell me more about how you build relationships. And in fact, if it is important to you,
to have these healthy business relationships around you.
Jay Patel (18:05)
Yeah, I think a few things.Continuing to grow those relationships are so important. I think what people need is to…
In my opinion, I wasn’t able to get going until I joined a group called co abundance. I talked about real estate investing in leaving my corporate job for so long. And within ⁓ five months of me joining a mastermind group.
really getting to know the people around me and their ambitions. Just being in a room where I was ⁓ probably the person doing the least action, it really drove me to build more.
a week on ability meeting out on these same people. And everyone in that call, everyone in that meeting is a builder and it grows you. I’ve grown connections in the greater mastermind group and community. I know you guys have a community as well. We’re constantly messaging people on LinkedIn that kind of fit like the profile of someone we’d want to meet or be in touch with. And it’s really important. I think
The second piece is you need to find someone that is you know at least one or two steps ahead of you, a mentor to learn from. And the reason I said.
That it can just the thing is someone in this time group or a community that you join with intent, might be a master might be a mentor for you. but I think the big thing is intent. you can go around and I’ve gone around trying to promote what I do, meet people, learn about what they do. But when you’re a part of a group, especially when you pay, you don’t have to pay, but when you pay, it gives you like this extra drive of like, I need to go.
like obtain value and provide value because I’m in this thing.
Quentin Edmonds (19:53)
Now you said that so well, you know, got to have skin in the game and it’s even something, you know, it’s scientific neurotic, near, near neurological. Thank you. I had to find it. I’m like, yeah, somewhere, but it does something, you know, to you, to your psyche. When you have skin in a game, like you said, you know, it makes you.Go after it. It makes you say, you know, I got it. I love how you said, the value, but also add the value. And actually it’s, it’s an identity shift, right? You know, when you put yourself, that’s getting the game, changes your identity from somebody that’s just on the sidelines to somebody that’s actually in the game, willing to take the steps. And when you, when you, when you calculate your brain and train your brain like that, your body goes where your brain goes. So when your brain, when you put that, when you put the extra into it,
The body every day will move towards your goal. That’s, know, when they talk about law of attraction is real, you know, you’re going to attract the thing that you tell your brain and actually train your brain to do. And when you start making those actions, results start to happen. And, know, it’s, it’s science, but then it’s not science, but it’s, it all works together. It just, it’s simple and deep and simple at the same time. You know what I mean? So, yeah. I appreciate you, sir. I appreciate you. Yeah.
Jay Patel (21:16)
I was just going to say, just to go off of that, I feel like there’s a general step, a shift that happens. it starts with people that start with their mindset. Maybe they’re reading some books, absorbing some knowledge on the internet. They jump over to and hopefully find a community that they can rely on and you know talk through potential you know things that they’re scared about that you know promote them.into feeling like it’s okay to make some sort of sacrifice along with that action. And that’s sort of like the transition that needs to happen for people to, especially if you’re gone from corporate and you want to become a real estate investor, that’s generally the progression that it takes.
Quentin Edmonds (21:59)
Well, listen, y’all heard it from Mr. Jay you know, Mr. Jay I probably in every episode, I think on relationships, I think, I think that’s like the last thing that I say, because what you’re saying is so true. eventually it connects with people. Some people, guess sometimes they don’t, but just, and I told you before we got on, I just feel like healing happens in community. And like you just said, when you get around people who are where you are, or even two, three steps ahead of you,It’s really, it’s going to anchor you and it’s going to pull you to a level that you really want to be at. And so I try to end everything on relationship, let people know it’s so important to be around the people that common unity, people who has the same mindset of you or even a, who have achieved a little bit more than you. So, you know, where to go and point, you know, point to your North star. So,
Mr. Jay sir, I appreciate you man. If someone wanted to get in contact with you, collaborate with you, find out more what you’re doing, how can they get in contact with you,
Jay Patel (23:05)
Sure, yeah, you can visit us at ivoryequity.com. That’s ivoryequity.com. Or you can reach out to me directly at jay, j-a-y, at ivoryequity.com.Quentin Edmonds (23:21)
Awesome. So Mr. Jay, first, let me say thank you for your time. I think you and I both know time is a precious commodity. We can put a premium on our time. So definitely thank you for taking time out. Huge, thank you for your story. Thank you for your sharing. Thank you for letting us walk through your journey with you, just getting a peek of where you’ve been and where you are now. And definitely thank you for your perspective. Thank you for the way you think and bringing that mindset to this podcast. I truly appreciate you coming through, sir.Jay Patel (23:50)
For sure, man. Thanks, QQuentin Edmonds (23:54)
Yeah absolutely. So listen, y’all cannot tell me you didn’t get the value from Mr. Jay. He dropped the gem after gem. So definitely check him out, but definitely make sure you are subscribed here. You do not wanna miss out on this amazing content, these amazing people that we continue to bring up just like Mr. Jay. So sir, thank you again. And to everyone else, we’ll see you on the next time.
