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The most successful entrepreneurs are usually those that do not allow themselves to become content. The average income in the US is just slightly over $30K a year. The majority of people would consider a cushy six figure salary to be success ion today's world. Not Jerome Myers. After leaving his corporate job in 2016, Myers built a portfolio of six multifamily properties. Now, he’s adding a 120-unit property in Greensboro to his multimillion-dollar real estate portfolio. Myers left his corporate 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’s been featured on numerous podcasts and has been a speaker at conferences all over the United States.
“A lot of people are putting money into their 401k. But that money is locked away until you’re in your 60's. What if you can do something that turns on cash flow now and will allow you to get your freedom earlier?”
As early as age 5, Myers already had his dream job in mind. He told his mother that he wanted to be a trash man. He admired the freedom and flexibility that his neighbor enjoyed. Unlike his military-based father whom he rarely saw until dinnertime, his neighbor was able to be home with his kids after they came home from school. But his mother quickly shifted his dreams in a different direction. She informed him that he needed to have a career that would allow him to pay for the lifestyle that he wanted.
Myers decided to pursue a career in civil engineering and was able to break the six-figure mark by the age of 26. He was even hired to build a $20M division of a Fortune 500 company that turned out to be very successful. But he already knew that working in corporate America was not his long-term game plan. After realizing that the owner of his apartment complex was making over $700,000 a year, Myers knew which path he wanted to pursue. There was one problem: Myers didn’t have any connections or education in multifamily real estate investing.
Myers started lending money to people who were doing real estate projects while he was in corporate America. As he became more educated about the business of real estate, he starting doing fix and flips. Soon, he found a partner who was able to help him build a multifamily real estate portfolio. “Every investor is overcoming four challenges no matter where they are in their journey,” says Myers. “The first one is knowledge. The second one is deal flow. The third is experience. The fourth is capital.”
Myers also sees real estate investing as a way to close the wealth gap. “If you look at all wealthy families, even if they create their money through businesses, they put their money in real estate. It’s the most tax-advantaged investment you can make. Taxes is one of the things that take away the majority of our wealth. If you’re getting all your money from a W-2, there’s no way around that.”
Myers now leads The Myers Development Group, LLC and host conferences to help new and experienced real estate investors. “People can see practical examples of people who look like them,” says Myers as he shares his motivation behind the conference. “It’s not about having a bunch of people brag about how big their portfolios are and how many doors they have. It’s about giving people the stories on how others got from where they were to where they are now so they can follow the process.” Myers didn’t have access to real estate mentors when he was growing up. That’s why he’s making sure others have a better chance to get their foot in the door.
Myers offers many free resources to this knowledge. One example is his Myers Method guide that is available for download. It is a guide that gives you a brief introduction into the world of multi-family investing and some best practices. Myers also offers some paid courses as well as live conferences for those interested in learning more about his investment journey and how to do the same for themselves.
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