Patrick O'Meara joins Richard C. Wilson to discuss his experience in real estate and family office investing. He shares lessons on choosing deals, building senior and affordable housing, and talking with children about money.
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About the guest
Patrick O'Meara. Patrick O'Meara is Founder and CEO of Patrick Ventures Family Office. He has about 25 years of experience in commercial real estate and finance, and says his corporate career involved about $11 billion in transactions. His family office invests in real estate, finance and technology, and he serves on the boards of Aanthus Senior Living and United Tiny Homes.
Key takeaways
- O'Meara says his corporate career involved about $11 billion in transactions, alongside roughly 40 commercial real estate investments and about 20 private equity and venture opportunities.
- He evaluates opportunities through people, process and product, with the people involved and their experience and values foremost.
- When an original business plan faces difficulty, he cautions against chasing a shiny object and advises staying focused if the team believes in the product.
- His family office looks for investments that fit its experience in real estate, finance, fintech and proptech, and uses clear action criteria to filter deals.
- O'Meara says integrity, relevant experience, a clear story, a capable team and humility matter when presenting an opportunity to investors.
- He describes a senior housing project built through a proprietary ground lease with the Catholic Church, with 10% of net operating income donated to the parish.
- United Tiny Homes manufactures 200- to 400-square-foot homes in Goodyear, Arizona, for uses including affordable housing, veterans, older residents and accessory dwelling units.
- He says tiny home installations depend on the land and utilities, and may include solar, off-grid options or biodegradable waste technology.
- O'Meara advises parents to discuss financial matters with their children early so they can learn financial skills and understand the value of money.
- He describes family values and lessons as important to passing wealth across generations, since money can be lost if it is passed on without them.
Best quotes
"If you believe in the product and believe in what you're trying to invest and what you're trying to do, stay the course."
"We wanted you to have at least a couple, you know, 10 years, 20 years experience in the business itself."
"Integrity is number one. I mean, you got to have experience to know what you're doing."
"And have the humility to understand that you don't know everything."
"So let's stay in fintech and prop tech. But how we filter through is the word no really helps out."
"Talk to your kids early about financial matters. My dad at dinner table talked to me a lot and really taught me, you know, this the vissitudes of how tough life is."
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