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In this episode, of the Next Level Income Show, Chris Larsen sits down with Patrick Grimes, founder of Passive Investing Mastery, to explore the power of alternative investments and their role in building long-term wealth. Patrick shares his personal journey from financial loss during the 2008 market crash to creating a diversified portfolio that provides stability and consistent returns. Through their engaging conversation, Chris and Patrick break down the strategies that the wealthy use to protect and grow their wealth, offering valuable insights for investors of all levels.
Patrick’s story begins with his early career as an engineer, where he learned the importance of saving and investing wisely. However, like many, he initially made mistakes, investing heavily in speculative real estate just before the 2008 crash. Losing everything taught him the hard truth: diversification is key. Determined to rebuild, Patrick focused on investments that generate cash flow from day one, such as existing properties in recession-resilient markets. He also learned to explore other asset classes outside of traditional real estate, including legal funding, private equity, and other non-correlated opportunities.
Chris and Patrick discuss how most people, particularly middle-class investors, are heavily reliant on stocks and bonds. In contrast, the wealthiest individuals and institutions allocate a significant portion of their portfolios to alternative investments. These assets—ranging from real estate and legal funding to aviation leasing and even gold mining—offer a level of diversification and stability that traditional portfolios lack. By spreading risk across multiple asset classes, investors can protect themselves from market downturns and build a more resilient financial foundation.
Education is another central theme of the conversation. Patrick and Chris highlight how financial literacy is often overlooked, leaving most people unaware of the opportunities available to them. Patrick’s platform, Passive Investing Mastery, aims to bridge this gap by offering free educational resources, including webinars and books, to help people make informed investment decisions. His book, which he offers for free to listeners, outlines his journey and provides actionable steps for those looking to diversify their portfolios and increase their financial IQ.
One of the standout lessons from the episode is the importance of starting early and consistently saving. Patrick recounts how he automated his savings by directing a portion of his paycheck into a separate account, making it easier to build the capital needed for investments. He also stresses the value of living below your means and avoiding lifestyle inflation, allowing you to allocate more funds toward assets that generate long-term wealth.
This episode is packed with practical advice and insights, making it a must-listen for anyone interested in taking their finances to the next level. Patrick’s journey serves as a powerful reminder that setbacks are part of the process, but with education, strategy, and discipline, it’s possible to recover and thrive. For those ready to explore the world of alternative investments, Patrick’s platform and book are excellent starting points.
Whether you’re just starting out or looking to refine your investment strategy, this episode offers invaluable guidance on building a diversified, bulletproof portfolio.
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Contact Patrick Grimes
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Christopher Larsen is the founder and Managing Partner of Next-Level Income. Since “retiring” after 18 years in the medical device industry he dedicates his time to helping others become financially independent through education and investment opportunities. Chris has been investing in and managing real estate for over 20 years.
While completing his degree in Biomechanical Engineering and M.B.A. in Finance at Virginia Tech, he bought his first single-family rental at age 21. Chris expanded into development, private-lending, buying distressed debt as well as commercial office, and ultimately syndicating multifamily properties. He began syndicating deals in 2016 and has been actively involved in over $500M of real estate acquisitions.
In addition to real estate, Chris has invested in equities, oil & gas, and small business lending, as well as being active in Venture South, one of the nation’s Top 10 Angel Investing groups. Chris lives with his wife and two boys (and Viszla, Lucy!) in Asheville, NC where he loves spending time with them in the outdoors and enjoying the food and culture that the region has to offer.
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