We know that deals can be structured in numerous ways. One model we don’t often hear about is joint ventures. Our guest today, Jerome Myers, has chosen this deal structure model to grow his real estate portfolio. As an asset manager for about 90 units and 90,000 square feet of workforce housing across Virginia and North Carolina, Jerome is also a passionate coach and teaches his methods of multifamily investing. In this episode, he walks us through joint ventures and how they are different from syndications. If syndications are commercial planes, with a crew and passengers, then joint ventures are fighter jets with no travelers. Everyone has an equal stake in the game. For Jerome, this model allows him to collaborate and engage with smart, creative people, who are all equally invested in achieving success. Along with this, we also touch on different debt structures, why he prefers to stay in the smaller multifamily space, and how joint ventures fulfill dual objectives of contributing to community good and making money. Be sure to tune in today!
Key Points From This Episode:
Tweetables:
“Everything’s for sale, right? It’s just a matter of somebody wants it more than we do.” — Jerome Myers [0:05:35]
“We want to house nurses, firefighters, teachers. If help those folks out. They really make America run.” — Jerome Myers [0:09:50]
Links Mentioned in Today’s Episode:
Passive Income Through Multifamily Real Estate Facebook Group