Welcome back to our Spotlight Series, where we interview and showcase members from our team!
For this month’s “Spotlight,” we’re sitting down with Pat Brennan, Senior Vice President here at Capital Growth. With go-to expertise on real estate investments, Pat takes care of retirement planning and investment management for his clients. In this interview, we talk to Pat about his beginnings in real estate, his approach to investment management, and how he helps his clients make meaningful decisions.
Hi Pat, thanks for joining me! First off, as Senior Vice President at Capital Growth, what types of responsibilities do you take on?
I work with clients on their overall investment strategy and long-term planning, which includes legacy planning and working with their children.
I see, and what would you say is your favorite part about working with families and small business owners?
I enjoy being a part of people’s lives and seeing them become comfortable with their various financial situations over time. I hope I’m helping to provide peace of mind for people.
How would you characterize a successful investment plan?
A successful investment plan is highly personalized and should bring a sense of comfort for people when they think of their financial situations.
Speaking of “successful,” let’s talk about the fact you received your Real Estate License at only 18! How did you fare as a young real estate professional?
I was fairly successful and it helped to finance my undergraduate degree. It was a great learning experience and I gained valuable insight to not only the markets, but also the people that were a party to an escrow transaction.
I’ve always enjoyed real estate and generally think it should be a part of most investors’ portfolio and long-term income strategy.
Well, what inspired you to eventually pursue an MBA and make the switch into real estate investment management?
I was trying to become more well-rounded and suspected the MBA would provide a more comprehensive education about how micro and macroeconomic pressure impacted the real estate and equity markets.
And after that MBA, you soon met Art and Jay—you seem to have such great synergy as a team. What were your first impressions when you first met them back in the ’80s?
I knew them through family friends and felt they were highly ethical and passionate about the investment management business relative to helping their clients. I was very comfortable joining the firm in 1998 and still feel the same about their character.
Wow, you guys go way back! If you could actually go way back, what advice—career or otherwise—would you tell your 30-year-old self now?
I’d say: “You should have invested more aggressively in real estate and taken more chances with your personal investments.”
Hindsight’s always 20/20, right? It’s great, though, that you always set aside time for travel, camping, and being with your family. Any all-time favorite destinations so far?
We love a number of places but always enjoy camping with family in the high Sierras. My wife and I really enjoyed East Africa and visiting Europe with the kids, too.
East Africa with your wife must have been so wonderful. Her ability to be in the moment seems to be a big inspiration to you, too. How do you work this into your daily professional life and interactions with clients?
Good question – I try extra hard to listen carefully to their life-stories and this helps bring insight into who they are and what they value.
Finally, let’s get some pro-tips from the expert. In climates of uncertainty like current pandemic times, what advice can you give to those of us looking to complement our portfolios with real estate?
I think it makes sense to allocate a portion of your assets to real estate and there are many ways to gain this exposure, but remember it’s generally illiquid and keeping the right perspective is very important. Be careful not to get over-concentrated.
Ask Pat for more real estate advice at patb@capitalgrowthinc.com, or learn more about him on his Capital Growth profile.