Jerome Myers wasn’t aware of what he didn’t know when he had left his corporate job to pursue real estate investing. Hoping to spare others the same struggles he faced, Myers shares his personal story and educational advice for new investors entering the real estate market during the latest episode of the Target Market Insights Podcast hosted by John Casmon.
After learning how to invest in multifamily real estate the hard way, Myers developed Myers Methods to provide first-time investors with the education they need to break into the multifamily real estate market. The company debunks many investment myths and provides a 4-step guide to navigating the process of owning and operating multifamily dwellings. Myers shares his knowledge through podcasts, conferences, courses, and mentoring.
During his recent appearance on the Target Market Insights, Myers emphasized the importance of educating yourself about multifamily real estate investing before you jump in with both feet. “When I quit my job, I thought I had done everything right to prepare to invest in real estate,” remarked Myers, “but the things that I didn’t know almost kept me from realizing my dream. If I can teach other people how to get started without having to jump through hoops and run into brick walls, then good people can invest in and improve their communities and I will have done my job.”
For those considering making a move into multifamily investing, Myers outlined four vital steps to prepare for the move from corporate employment to self-employment:
- Discuss your plans with loved ones and friends that your decision will impact.
- Prepare financially by saving enough to cover 12 months of living expenses.
- Begin building a network of contacts, including potential clients and business partners.
- Plan for a purchasing hiatus. Make large financial purchases requiring proof of income while you are still a salaried employee with a W-2.
Myers firmly believes that to know how to start investing in multifamily real estate, investors need an educational mentor to guide them through every step of the process. Identifying the right coach requires getting to know the person or program, their motivations and values, and the resources they can offer.
“The best real estate investment coach is going to be the one that you identify with,” said Myers. “All too often, investment educators sell a story that you can make money in real estate without knowledge, skills, or credit. In my experience, it doesn’t work that way, especially for first-generation investors or people of color. Look for someone who has overcome the diverse challenges you face. They can teach you because they have been where you are.”
Myers is a highly sought-after leader in the multifamily real estate space who seeks to support people from diverse backgrounds build lasting wealth through real estate investing. He has been featured in CBS Entrepreneur, Business Insider, and Black Enterprise. He has also been a guest on numerous podcasts.
To learn more about Jerome Myers or the Myers Method, visit www.JeromeMyers.co.
About Jerome Myers
Ready for rapid attainment of goals and to experience a life of significance and impact? Jerome Myers has developed a number of programs based on the Model for a Centered Life, a/k/a The Red Pill, to help bolster confident beliefs, gain clarity on the path to success, and provide accountability to take action on goals.
