He Quit His Job, And Then Built A Multi-Million Dollar Real Estate Portfolio in 3 Years
Jerome Myers left his company job after being forced to lay off over 100 employees within two years. Now, Myers is helping thousands of people gain freedom through real estate. He has been featured in numerous podcasts and has been a speaker at conferences in the United States.
“Lots of people put money into their 401k. But this money is locked away until you are in your 60s, ”Myers said in an exclusive interview with Black company. “What if you can do something that will activate cash flow now and allow you to gain your freedom sooner?”
After leaving the company in 2016, Myers built a portfolio of six apartment buildings. Now he’s adding a multi-million dollar property to his property portfolio with 120 units in Greensboro.
“Your dream can be real,” says Myers. “You just have to be ready to do the job.”
How it all started
At the age of 5, Myers thought he had found his dream job. “I want to be a garbage man,” Myers told his mother. He admired the freedom and flexibility his neighbor enjoyed. Unlike his military father, whom he rarely saw until dinner, his neighbor could be at home with his children after they got home from school. But his mother quickly shifted his dreams in another direction. “You need a job that pays for the lifestyle you wanted to live,” she informed him.
Myers decided to pursue a career in civil engineering and, at the age of 26, passed the six-figure mark. He was even hired to build a $ 20 million division of a Fortune 500 company that turned out to be very successful. But he already knew that working in Corporate America wasn’t his long-term plan. After Myers discovered that the owner of his apartment complex was making over $ 700,000 a year, he knew which route to take. There was one problem: Myers had no connections or training in multi-family real estate investments.
From fix and flip to multi-family real estate investor
Myers started lending money to people doing real estate projects while he was with an American company. When he learned more about the real estate business, he started doing fixes and flips. He soon found a partner who could help him build a multi-family real estate portfolio.
“Every investor faces four challenges, no matter where they are in their journey,” says Myers. “The first is knowledge. The second is the deal flow. The third is experience. The fourth is capital. “
Myers adds, “A lot of people go into capital first and say they can’t do real estate because they don’t have money. Having zero dollars is not a recipe for real estate success. But you don’t have to have all the money to do real estate. The first step that you should take is to educate yourself. “
A conference that delivers results
Myers did not have access to real estate mentors in his youth. Therefore, he ensures that others have a better chance of getting their foot in the door.
Myers heads Myers Development Group, LLC and hosts conferences to help new and seasoned real estate investors. “People can see practical examples of people who look like them,” says Myers, sharing his motivation behind the conference. “It’s not about a few people bragging about how big their portfolios are and how many doors they have. It’s about telling people the stories of how others got from their location to their current location so they can see the process. “
Myers also sees real estate investments as a way to close the wealth gap. “If you look at all wealthy families, even if they make their living doing businesses, they are putting their money into real estate. This is the most tax-advantageous investment you can make. Taxes are one of the things that take away most of our wealth. When you’re getting all your money from a W-2, there’s no getting around it. “
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