Episode 19: If You Don't Have Someone Bringing You In, You Might Not Get Into the Game: The Power of JV's
Despite having built a $20 million construction business, earning an MBA, holding an engineering license, having sufficient liquidity, and an 800 credit score, Jermone found himself fighting an uphill battle trying to get banks to work with him on multifamily deals. Find out his secret for overcoming lender experience requirements and getting started on the road to multifamily investment success.
Advice to Listeners: Do a joint venture with an experienced partner first and then consider investing in a syndication education and get into syndications. If you JV a deal, you will be able to augment your experience and meeting the requirement for lenders to allow you to sign on the loans.
About Demetrius Brown:
Jerome Myers PE, PMP, MBA, The Myers Development Group, LLC, Asset Manager
For his entire career, Mr. Myers, has been working in his passion of helping people turn their dreams into reality. In his last role as an employee in corporate America he led an organization that built a team from 3 to 150 with a relentless focus on healthy culture over the course of two years and sustained financial results of over 15MM annually with more than 25% profit margin.
In his current role at The Myers Development Group, LLC (MDG) he serves his partners as an executive coach, real estate investor and business strategy consultant. These roles allow him to utilize the skills he has developed through on the job experiences and formal training to help guide highly successful individuals to extraordinary success. When asked why he is so passionate about his current role his response is simple, “I believe dreams should be real. There are far too many people who simply give up on their dreams because the people around them don’t support them. I have one purpose at this juncture in my life. It is to support people on their journey from a dreamer to a dreamcatcher.” Mr. Myers is asset manager for over 85 units and 85,000 square feet of workforce housing across Virginia and North Carolina.
Mr. Myers has been successful at making his and others’ dreams real through his educational resources, philanthropic gifts and community activism. He is the host of the DreamCatchers Podcast which shares the stories of ordinary people doing extraordinary things, organizes the Triad Multifamily Meetup in Greensboro, NC, leads the Myers Methods of Multifamily Investing Closed Facebook Group, and his written 2 books – Dreams Should Be Real and Politics of Marriage. His passion for growing minority participation in STEM (Science, Technology, Engineering, Math) disciplines has driven him to chair the marketing subcommittee for the Richmond Minorities in Engineering Partnership Board, establish the first fully endowed engineering scholarship at North Carolina Agricultural and Technical State University, routinely give inspirational keynote speeches and mentor young professionals who are working in STEM disciplines.
The Myers Development Group, LLC was established in 2006 to offer private lending, business strategy, organizational development and engineering consulting services to businesses and individuals in Virginia and North Carolina. The organization prides itself on delivering undeniable results to its partners through innovative thinking and solid execution strategies. The company will have ownership in over 1,000 units and approximately 750,000 square feet prior to 2030.
Connect on LinkedIn – https://www.linkedin.com/in/jeromemyers/
Listen to the DreamCatchers Podcast - https://soundcloud.com/dreamsshouldbereal
Watch the DreamCatchers Podcast - https://www.youtube.com/channel/UCooy2LtVZEmGafiyEQmxLhA
Gain access to real estate investing education – www.MyersMethods.com
Learn more about the Myers Development Group – www.d3v3loping.com
Watch Myers Methods Masterclasses - https://www.youtube.com/channel/UCj9lIRCit-ULEiI4GTuJ4ww/
Face to Face Networking
Mid Atlantic Multifamily Investing Conference – www.myersmethods.com/con2020
Apply to attend the mastermind – www.PowWowAtTheMountaintop.com
Join Triad Multifamily Meetup - https://www.meetup.com/Greensboro-Multi-family-Investor-Meetup-Group/
Free multifamily investing guide
Dion Huey is a Co-founder at Delta Bridge Capital LLC which is a multifamily real estate investment company that invests in value-add apartment communities in the United States. He earned a master's degree in finance at Northeastern University in 2017 and worked on multiple business syndications as a financial analyst for Boston-based Plateau Asset Management which is a private equity search fund that has $30 million AUM. In 2017, Dion was an analyst on a deal team that advised Citic Investment Bank's Hong Kong private equity division on the syndication of a $1.5 billion acquisition of a hotel in New York. He is currently the host of The Multifamily Investor Situation Room Podcast.
In 2010 he co-founded Rocky Mountain Education and Technology Group which is a Beijing-based education services company that has serviced more than 5,000 clients. In his spare time, Dion enjoys reading, martial arts, lifting, and learning foreign languages. Contact the author at firstname.lastname@example.org.