#13: Ditching Corporate America and Building a Multifamily Portfolio with Jerome Myers

Aug 4, 2020

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This episode with Jerome Myers is a really tactical one - I’m sure he shared some things you can implement into your business ASAP. We discuss mid-size multifamily investing (specifically investing in the workforce and affordable housing), underwriting deals, identifying value-add opportunities, and working with partners. Jerome is an awesome guy, you’ll enjoy this show!

Jerome is a corporate America dropout who is helping others exit the matrix through ownership in multifamily, and workforce housing. After building a 20 MM division at a construction company and having to lay off his teammates two years in a row, he had enough and decided to become a full-time real estate entrepreneur.

He and his team created the Myers Methods of Multifamily Investing after educating themselves through the school of hard knocks and using it to operate their portfolio in the mid-Atlantic every day. They are on a mission to hold a 1,000-door portfolio and help over 100 people find their first or next deal.

Struggling to find good multifamily deals? Looking to close deals with less of your own money? Want to operate like the pros and maximize the cash flow of your assets? Join The Multifamily Wealth Community, where we help multifamily investors start, build, and scale their businesses… specifically, those looking to grow from 1-10 units to 250+ units.

Are you looking to invest in real estate but don't want to deal with the hassle of finding great deals, signing on debt, and managing tenants? Aligned Real Estate Partners partners with passive investors looking for the returns, stability, and tax benefits investing in real estate offers, but not the work - join our investor club to be notified of future investment opportunities.

Show Notes:

3:21 Jerome shares his background in corporate America and how he gained exposure to real estate.

6:02 We discuss Jerome’s 23-unit and how he found his first deal and managed his first property independently.

10:22 Jerome discusses the expansion of his business to 90+ units and what he is currently focusing on.

12:20 We talk about due diligence, Jerome’s criteria, and what he values in a neighborhood.

16:31 We learn about what Jerome thinks is important to tenants and which small renovations provide a high ROI.

23:26 We discuss the methods Jerome utilizes to find deals and build essential connections.

28:05 We talk bout the value of partnerships and joint ventures as it relates to buying small and midsize multifamily properties.

31:26 Jerome discusses the roadblocks new investors commonly face and how to overcome these obstacles.

36:17 We learn what Jerome values in partners and why credibility is so important in multifamily.

39:41 Jerome shares his perspective on how COVID is impacting and will continue to impact the housing market.

44:50 Jerome explains why having a coach is the most efficient way to gain knowledge and excel in your respective field.