Making Money in Multifamily Real Estate Show

155 | You Can't Manufacture Relationships with Jerome Myers

July 12, 2021 Dave Morgia Season 1
Making Money in Multifamily Real Estate Show
155 | You Can't Manufacture Relationships with Jerome Myers
Show Notes Transcript Chapter Markers

Jerome's Background:

  • Founder of Myers Development Group where they focus on repositioning workforce housing
  • Host of Mid Atlantic Multifamily Investing Conference
  • Host of Multifamily Missteps

In this episode we cover:

  •  02:45 - Jerome's ideal opportunities in mom and pop sellers
  •  06:09 - No need to change strategies post-COVID
  •  09:40 - Why Jerome doesn't shy away from recourse debt
  •  14:51 - Finding partners organically
  •  19:47 - Enjoying the company of those around you in the business
  •  23:09 - 5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
  •  23:55 - 5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
  •  25:32 - 5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
  •  28:24 - 5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
  •  30:31 - 5KQ5 - What have you been focusing on lately to improve yourself or your business?

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Intro:

Welcome to the Making Money in Multifamily show, where we discuss everything to do with multifamily real estate investing. We believe it's the best way to gain financial freedom and build lasting wealth. This is where you'll find it the best information and practices to help you succeed in your real estate business, whether you're already experienced or just starting out. Here's your host, Dave Morgia.

Dave Morgia:

listener and welcome to the show. I'm your host, Dave Morgia. And with me today is Jerome Myer Jerome, welcome to the show.

Jerome Myers:

Dave, grateful to be with you, my brother. Thanks for having me.

Dave Morgia:

Man. I'm geared up and ready for this one. And just before we dive in, just wanted to give the listener a little background on you. He is the founder of Myers Development. They focus on positioning workforce housing, through business strategy, construction, and sharing consulting. I could keep going. On top of that. Jerome is also the host, and I'll let him speak further, but the host of the Mid Atlantic Multifamily Investing conference, and also the host of Multifamily Misstep. So Jerome, you just want to kind of take it from there.

Jerome Myers:

Yeah, man, I mean, at the foundation of it, I'm just a corporate america dropout, I have been playing the multifamily game, almost as since I've dropped out, I had a few pit stops along the way to try to get back here because I didn't have the proper education or credentials in order to do it. But you know, we kept making progress. And you know, we can unpack the journey along the way, and hopefully give the listener something really entertaining to listen to today.

Dave Morgia:

Now, I love it man. And I think we kind of maybe pigeon holed the show, or we'll see where we go with it. But let's just kind of talk about, I like it. And you know what, everybody's up to today. So what is your business strategy look like? Now, we mentioned maybe, you know, a little bit now that COVID is settling out, and everybody's kind of seeing a totally different world out there. So, so what's your kind of thoughts on the market? And really just Where are you guys see most success for you in the next? You know, six months? A year? A couple years?

Jerome Myers:

Yeah, I think we're getting really close to the place where there's gonna be some owners who decide that this isn't for them anymore. I think the eviction moratoriums are going to, when they get lifted, I think it's going to be super frustrating. And I think folks are going to be ready to exit and we look at, we're really excited to help them get that equity that they had trapped in their property and figure out how to get those properties creating cash flow again, because I think a lot of people either went net negative or net zero or went negative through the COVID, because of low revenues.

Dave Morgia:

So specifically, those sellers, are you targeting mom and pops or where it's kind of your bread and butter, or where you at least envision, you know, the highest kind of return on your time to kind of get them out of their own buildings and you in

Jerome Myers:

Yeah, I think mom and pops are the folks that are in best position for us to buy from, I think, and the ones that don't want to go to brokers, we'd like to get direct to seller, I think there's a lot of people who don't really have a good understanding of what things are selling for, I think we're still going through price discovery with COVID, right. And for the folks who didn't have a decent net, net operating income, it was really hard for folks to get that on those properties. And even though the brokers were telling them, they could get whatever the number was. And so we'd like to talk to those folks who maybe didn't get to do that. And you know, to be honest, Dave, we tested the market last year, we put something out that was a little bit above anything that was seen in our marketplace for the type of asset we were selling, just to see what we could grab. And we had some people come in, and they didn't go to where we asked them to go. So we didn't sell. But you know, at the end of the day, I think people are still trying to figure out what pricing is on the backside of this and anticipating the interest rates going up. Which impacts their exit, right? Because it changes the cap rate on the backside.

Dave Morgia:

Yeah, and we're in this interesting period to now right, where a lot of the COVID reserve restrictions gone away, at least on the you know, federally backed side of things. Is that kind of changing what you're seeing in response to any of these sellers or anything like that, or is that even not in discussions you've kind of had yet?

Jerome Myers:

No, nobody's brought that up. And, you know, for me, it wasn't it was a pause button for me, right? If you've got a raise extra 10% to close the deal. It kills your cash on cash return and you can try to report without it or do whatever else or say, hey, when this gets refunded, then we'll send the money back or is there a lot of things that people did to be creative to overcome that impact to their ownership, but you know, we did we didn't buy anything in 2020 all the deals. So we're working on the first quarter, when COVID happened, our partners were like, hey, it's really difficult for us to get comfortable buying something when we have masks on. And so let's just wait a little bit and see what happens on the backside of it. And I don't think that prices went up that much more than what they were before for a lot of people, and I suspect for a great majority of the people who were in the space, who weren't running their operations tight, the price is going to go down, just because you can't justify the purchase price. Because you can't cover.

Dave Morgia:

Yeah, and I guess you mentioned kind of run a tight ship and just kind of project level, you know, making it a success where someone else wasn't able to. What do you think the ideal business plan is going to be the next couple of years, as far as, say, you are able to shore up a direct to owner property, 50 unit and 100 unit? And they're ready to dispose? Is it something you're going to underwrite for longer hold? Is it something you're okay going to be able to flip? I'm seeing, I'm sure you're seeing similar, just a lot of people that aren't able to pencil these day one cash flows. And yeah, you can find those properties out there still. But is there some strategy that you're going to employ at that scale to kind of better do that?

Jerome Myers:

I can't say that we were deviating at all man, we really do believe that it's just really cut and dry, go to the mom and pops, talk to them about their loss of cash flow, because something didn't go well, for them, whether their expenses increased because people were there, and he hadn't made the improvements to take care of that, or people didn't pay rent. And I mean, we have properties, we're focusing on pay rent, we're a little more liquid than some people. So it wasn't as big of a deal for us. But for that person who's been in for a long time, and they don't have the liquidity because they're depending on the cash flow from the property to take care of all of that. What are they going to do? And the majority of their net worth is tied up in the property, like, they can't eat the net worth, right? They got to get to cash flow some way. And so they've got to harvest it. And, you know, that's, that's the problem that we solve for folks is, people who want to harvest their equity, don't want to deal with a broker don't want to have a bunch of people torn on their property, kind of one person, right? That LOI. And they're done with it in 90 days.

Dave Morgia:

And I guess, I'm sure you meet resistance on plenty of owners who were pretty much even if it's a sinking ship, or stubborn to sell, because they know it, you know, it gets turned around or what have you. What are their if any creative propositions you you've proposed, whether it's some seller carry back or, or anything that's not cut and dry, to kind of get these deals closed.

Jerome Myers:

Yeah, we're, we're not creative, we're actually pretty boring man like, those, those sellers that we're talking to, they want to clean deal more often than not, right, their acute problem is, I need money, and I need it. In the near future. I can keep fighting with this thing and hope I get my cash flow back. But if not, then I need my cash. And so maybe they could take a second, but the bank doesn't like that. And if you tell them up front, they may tell you, you can't do that. And so we're gonna lie to our biggest partner who's bringing 75 80% of money we're not. And I mean, if the deal doesn't make sense to the bank, then the only reason to do the seller carry back is so that maybe I can only deal with less partners or just by myself now, but then the risk on the deal goes up pretty dramatically, right? Because there is no equity in order to have the cushion, so that you can take the cash flow off of it. And so now, I mean, we just like a clean deal. And I know the sellers, like the clean deal, but we also like the clean deal. We don't want to deal with somebody who isn't actually a lender, like that's not their business. And so there may be opportunity for you to negotiate something favorable. But, you know, the servicing and some of the other stuff that goes along with it the record keeping the stuff taxes at the end of the year, like set up for that stuff. And so make sure you just not creating a headache by trying to be what I call cute.

Dave Morgia:

Yeah, and you mentioned you know, debt servicing a couple times. So what's what's the go to for you guys, you have a preferred partner or at least preferred partner, whatever region you're looking at. How do those conversations go when you're trying to tackle these properties and pretty much solve a problem that everyone needs salt?

Jerome Myers:

Yeah, it depends on whether we're going recourse or non recourse if we're going to recourse we've got a group out of Texas that we really like to talk with and they get stuff turned around pretty quick. I give Tony Ptolemais a shout out. He's with Luminette. And you know, they just do an amazing job for us. And then for the folks who were doing a recourse loans, it's usually a community bank, we try to stay local, and get them in the game with us. Because, you know, those relationships can make deals happen that others can't just because they are underwriting to Fannie or Freddie guidelines.

Dave Morgia:

Yeah, and I guess, you know, you don't hear many people claiming or wanting to go into recourse, and there's obviously advantages to it. So just for the listener, you want to explain why you aren't afraid of getting into recourse debt, as long as the terms are right, and what terms you are looking for.

Jerome Myers:

Yeah, I mean, if you don't plan on paying it back, that was the point, right? Like, you should never borrow money where you and I were willing to be exposed to some recourse? Yeah. And I guess the last piece of it for me is just like, we're the operator, right? If there's the operating cash shortfall, we write the check, right? I mean, we're not doing capital calls. And all that stuff is, well, we did something wrong. So let's figure out how to make it right. But just in general, man, I the illusion of I think non-recourse is an illusion in a lot of ways, right? I mean, there's bad boy carve outs, all the reasons why the loan would not work, are the reasons when the non recourse loan can flip the recourse? Right. And so if we're not, so it's kind of like a job. And I'm gonna step on toes here, but it's okay. That's what I do from time to time, right. So everybody who has a job thinks that job is secure is safe. But if you work in at will state, your manager can come in your office and say, or come to your desk or call you up on zoom and say, Hey, your last day is today. And we've locked down your email account, and we turned off your cell phone and all the things. And I think the recourse, and now, are there now records, that's the same way, I think it's an illusion that you're safe and you're not exposed, then, yeah, there's some implications to your personal balance sheet when you do a recourse loan. But I mean, at the end of the day, you borrow the money, right? And so if you borrow the money, you need to just be prepared to take care of it. And so that's why I feel the way I feel. And I'm not partnering with people who I don't know well, right. I think the non recourse piece for a lot of people really ties into, hey, I'm partnering with somebody who I don't really know, I'm taking a fee for you using my balance sheet. And that's how I get okay with you using it. And I just, I don't think that's the way it should be done. And maybe that's just my knee, romanticizing what I want this initially to be. But I do believe that you should have a solid relationship, and you should work with people that you know, like, and trust as cliche as it sounds.

Dave Morgia:

Now, and I mean, I think he talked about the risk of, you know, getting into recourse debt, which many will tout is a very dangerous game, but I think you nailed it, getting in bed with somebody who you aren't familiar with, who you wouldn't trust personally in your life in other scenarios. In other situations, that is probably not the situation you want to be in for doing business. Like you said, if you're have a decade long relationship with somebody, you've done many deals, you know how they are as a person know who they are as a business person. That to me is gonna scream a situation where you can safely move forward and assume the risk in a fair and equal way and go to bed at night. That's like the biggest thing right? Is we're stewards of people's money. So going to bed at night knowing everything's going to be taken care of whether something adverse happens or not. So yeah, I couldn't agree more there.

Jerome Myers:

Yeah, um, I I just see the industry romanticized so much, Dave. Like, you mean, no money, no credit, no experience, no, nothing. And, you know, what I found out the hard way was I needed all those things. Right. Nobody came to just do that for me. I, all the banks turned me away. When I walked in the first time 10 of them just said, Hey, you don't have the requisite experience to do this. So we're not going to give you money. Doesn't matter what your credit score is. So I think for the listeners out there, like make sure if it sounds too good to be true. It probably is. It probably is.

Dave Morgia:

Yeah, there's something about trusting your gut, right? Whether it's a deal partner, whatever. So yeah, I love that. Getting into I guess, that partnership side of things or even if it's you know, your right partners or like the loan agencies or anything like that? What are you looking for in a partner? Is it the alignment of vision for you the highest priority? Is it just someone that's pleasant to work with? What kind of makes you feel that gut check?

Jerome Myers:

No, that's absolutely the highest priority is alignment of mission, slash vision, right? And hopefully, mission and vision or can grow it. But you know, it's, I think you Jerry-rigg your success. When you and the person on the same path, right, you're trying to solve the same problem with through the same tactics. And anytime you don't do that, you bake in conflict, and frustration. And I just don't understand outside of the fact that somebody just feels like they need a partner why people do that. And I'm guilty, because I did it. Right. I just needed help. Right? I didn't know anybody who had experience. And so I just jumped on the first bandwagon I could jump on, without actually checking mission without checking values, and we're gonna make money, but it was, it wasn't a smooth ride, either.

Dave Morgia:

Yeah, I guess it's like that, if you're desperate to get into business, right, you might compromise your own kind of values there temporarily to get a ton, but it'll bite you in the butt, way more than if you just kind of waited it out and and did it the way that you should have from the beginning. So fast forward to today, you know, talking through a potential partnership? Well, how do you kind of traverse those waters? Is it diving right in and saying this is how I align my business? And where we want to go? Does that make sense to you? What do you kind of do to make sure you're protecting yourself and the way that you want to?

Jerome Myers:

Honestly, I just spent time with the folks we're thinking about partnering with, right. And it's not a day, it's not a conferences, it's actually getting to know them, like, it sounds stupid, but like, I want to know your kid's name, right? Like, it's crazy how we're going to assign them multimillion dollar loan or multi $100,000 loan with somebody and we don't even know their spouse or their partner's name, we don't know anything about their kids, we've never actually seen them under stress or duress. And we think it makes sense to go into business with them. I think it's very short sighted. And it's a real opportunity for us to get ourselves in trouble. And I just don't have any other way to characterize it other than trouble because you're there, and something goes wrong. And it's not if it's when something goes wrong, you find out that, hey, maybe that person doesn't really have my back, or, hey, that person is not going to step up and help us walk our way through this journey. It's, they're just leaving us to figure it out. I don't think you want to find that out in the middle of a catastrophe. I think you want to know that before you get in, that way, you can make the adjustment so that you can successfully navigate it because you know, what resources are available?

Dave Morgia:

Well, the thing is to it's not even, you know, worried about the downside, but it's way more fun to go, you know share a win with somebody who you genuinely like to not even the alignment of values, but then whether it's having the you know, the drink after to celebrate the dinner after that's, that's where the money is made. And that's I think, I mean, I miss it personally with COVID. I don't know how you felt, but being able to do that with the people around you that you didn't get to see as often was, was a little bit rougher, you know, COVID works to an extent I learned a lot of remote life and how to be more efficient. But sometimes that stuff is what keeps you kind of focused and motivated. So

Jerome Myers:

Yeah, I mean, for before COVID, though, like, because I left corporate, right, I didn't have anybody to talk to all my friends are still working. And now here in the wild. And so part of the reason why I want a partner is so that I know I can get somebody's attention, right? If, if you're in the deal with me, if you're not in a deal with me, I say, Dave, man, here's what I'm dealing with. And you're like, yeah, we're not recording for my podcast. That's cool, bro. But I mean, you got to figure it out. It's your business. If I call you got money in the deal, Dave, man, here's what I do. Oh, yeah. Hey, we need to get this thing figured out. So I learned that pretty quickly that, you know, for me, it wasn't so much about the money that a person could bring to the deal that was really about their attention, right. It's about their interests in solving the problem that excited me to have, you know, some other folks who, so I didn't feel like it was all on me all the time.

Dave Morgia:

So you say you're kind of like the lone wolf out there. I guess you got the wolf in the background, right? How you kind of keep in touch with people that are you kind of traveling around meeting your partners that are in different regions of the country. How do you kind of get that quality FaceTime that it's out I'd like to kind of seek.

Jerome Myers:

Yeah, I mean, one, we've got deep relationships. I mean, I have some partners that I've known for over 20 years, right. And so there's that. And then the other side of that is just getting on the line with them and having those conversations and not talking about the deals, because I think the deals are pretty self explanatory. We, we don't spend a bunch of time talking about stuff that we're pursuing our quarterly calls when, you know, we go through reporting, and we'll, we'll do something at the end of next month, or the beginning of August for the second quarter, and just talk about how the projects are going for those folks who are already in them with us. And what we actually believe is our path forward and considering selling things and refinancing and just going through the full gamut. And, you know, what is our business plan look like today versus when we wrote it? And are we still on target? Or did COVID make our assumptions really wrong? And if they weren't really wrong, then what do we do? Right? Do we keep going down the path? Or do we feel like we're in a new place a new market? And that, in and of itself? Keeps people pretty interested? Because what else you gonna do? Talk about the ballgame?

Dave Morgia:

ball games are good. I'd rather you know, have a conversation that's going to make me you know, 1000 $100,000. Little, little biased? I've less watched sports and TV over the last I don't even know how long years, right? And I don't know about you, but that stuff kind of ends up being a distraction.

Jerome Myers:

I was I have one of my friends house this weekend. And it was a Saturday morning. It was before nine o'clock. And he had some other folks over. And we were sitting on the back deck discussing 1031 exchanges, opportunities zones, and other tax deferral strategies. This is on a Saturday morning, and some people are listening, like alright, turning this off. This dude's weird. But for me, it was a very stimulating conversation and, you know, forecasting, speculating, whatever you want to call it, what's actually going to happen? And what does it actually mean for us? Because if you're not staying ahead of those things, I think you're putting yourself in a tough spot.

Dave Morgia:

That's the failure to plan is planning to fail, right? So keep in keeping locked in all the time, and I don't know what's what's the brain switches on for most people It seems to always be on. I sounds like it's that way with you. It's just like a bug, you can't get rid of it. So it's just something that envelopes you. And you find those people like, you know, those morning coffees that you just find ways to have those conversations. That's that's the fun part about this business, for sure. For sure. We're all weirdos. And we're okay. Jerome, I think this took a huge tangent, but I love keeping the shows the light and just kind of following the conversation. But I'd like to get into five key questions before we do run out of time. So as long as you're ready, you want to hit those?

Jerome Myers:

Yeah, man, let's rock it out.

Dave Morgia:

So first one, if you could only pick one trait that explains your success. What is that trait and why?

Jerome Myers:

Consistency. Right? I think that the difference between people who get what they want and don't is the ability to stay consistent for as long as it takes in order to deliver the result that they want. I think, you know, a lot of people spend a bunch of time on strategy. And then they get to the part where it's time to execute and they just run in fits and starts in this isn't something that works and fits and starts, you need to be consistent for 6/12/18 months in order to get the outcome. And if you can do that, then it can dramatically change your life over the course of two or three years.

Dave Morgia:

And then what is the most uncharacteristic thing you've done in your business? And why did you do it?

Jerome Myers:

And so when I thought about this question, I was like, What in the world? Is he?

Dave Morgia:

This is the one that trips people up the most right here.

Jerome Myers:

Yeah. And so, you know, I did something that I don't think a lot of people have done, and it's made a significant investment in building a production company to go with our multifamily business. I just don't know how anybody in a COVID and then post COVID world feels like they can build a community or network without social media and great content, showcasing them on social. And that takes a ton of time. You know, I host two podcasts. I'm a guest on another on a weekly basis and the amount of content that gets created from those is just phenomenal than if you only are using it for the episode. Then you're missing out on probably 10 to 20 different ways that that material can be used. And it's really interesting when people say they don't have time for social media, when you can just have that one piece and then create all the content you need for your social.

Dave Morgia:

Especially the last year, right? If you didn't leverage social media just even to do one on ones. I mean, I think you missed the boat there a little bit. Yeah, social media here to stay, very powerful. Couldn't agree more. And then, can you name a time when you were scared you were gonna fail, Jerome? And what did you do to overcome that fear?

Jerome Myers:

Yeah, stay consistent, right. But what I was scared, like, so I didn't do any coaching programs, the best I had was YouTube and podcast you. And I'll tell you that I didn't know what I was doing. There was so many gaps, because I didn't get a cohesive in the end process, put in place and then augment with the continuing education of podcasts and YouTube videos. And so when I went to the bank and said, Hey, don't you want to give me a million dollars? So I can buy this thing and turn around? And they all told me No, I thought my multifamily career was over. Right, because I just didn't, I was one I didn't know anybody. And so me and Duran, were sitting on the stoop and our sophomore year of college and counting up the guy making $700,000 year but we never saw him talk to him. I was like, I don't know anybody that does this. So I need to wait, I need to go get a job. And then maybe I'll meet people and do the thing. Well, I got to the end of my corporate career. And still, I didn't know anybody, right. And they told me, that's what I needed in order to do this business. They were 1,000% right by the way, they made a great decision on not giving me any money by myself. And I just, I struggle, man, this thing makes me squirm a little bit, just because I know how inefficient and ineffective it is. So I thought I was not going to be successful, because I didn't know how it was going to get connected to a wealthy person, you know, somebody who was an owner of a multi million dollar real estate portfolio who would be willing to partner with me because of what, right like I didn't have any of those answers. And I knew a little I know enough to be dangerous. And I think that's where most folks who get into the space operate from this, this, this place of unconscious incompetence. They think they know more than what they know. And they go try to do deals, and they end up losing not only their own money, but theirs. And so having the proper education would have probably put me in a much better spot.

Dave Morgia:

And I mean, it's it's funny, because you worried about, you know who to get to, and eventually you put yourself out there with the right intentions, you, you find the people that are going to help you along the way, right, you don't learn it. I mean, you can learn the stuff on these podcasts, YouTube, whatever, but then you got to go do in the field. So to find those partners, you just got to like you said, Be consistent, stay out there, and you'll get the people that want to bring you along for the ride. And then you'll be doing that the same with others. Right. So it's kind of that full circle. That's pretty neat. And then Jerome pretty much the flip to that question is, can you name a time that you had a pretty much very successful time whether it was a perfect scenario? And what did you do to make that happen?

Jerome Myers:

You know, I was thinking about this question. And I literally thought to myself, nothing ever goes perfect for me. Like it doesn't especially not in multifamily. There's, there's so many people involved. There's so many moving parts that nothing is ever flawless. So I, I don't have a great example for that. So maybe I'm just the example of Missteps.

Dave Morgia:

And that's, that's a little bit of a plug for your show there too. Right. We'll get to that one in a minute. I'll let you get out of your space. Um, yeah, I mean, I hear that a lot, too. You know, nothing goes perfect. I think that's the calling card is someone who strive for perfect perfection. Now it doesn't settle for good enough, right. So you could have had that, sure you've had multiple homerun deals that have just gone, not flawlessly, but pretty darn good and exceed expectations, but it's just not good enough for you because you got to do better, right? So so I'll take that one as definitely a suitable answer.

Jerome Myers:

And it's funny, man, because we we bought a property at a pretty low cost basis, you know, and we're gonna sell it for three times what we bought it for, but that project didn't go perfectly, you know, and so you can make money in this business and things not be perfect. And I think that's a common misconception of Oh, all things go smoothly. I think it's really just marketing for the people who were trying to attract capital.

Dave Morgia:

Yeah, I would love to find a project that went line by line exactly how the underwriting was written. Show me that deal.

Jerome Myers:

The one thing that I know, Dave is that my underwriting is wrong. Right? The one as soon as I save I know it's wrong. That's the one thing I know. I don't know anything else.

Dave Morgia:

As long as it's safe, we're good to go right as long as it makes the returns still and it's safe. That's how you make the money. So yeah, I agree with you. And then the last one here, Jerome, before we kind of let you fill the listener in, what else you had going on. But what is something you've been focused on lately to prove yourself or your business?

Jerome Myers:

I've been laser focused on activity from, you know, like an exercise perspective. It's funny. I'm so weak at the table that I'm not going to hit my fitness goals for the quarter. But I've done the activity, right, but I just I love sugar man

Dave Morgia:

Me too big, sweet tooth here. Now, that's good. I mean, I think it's important to to in our business, when something's coming in one corner of our life, like say, you know, doing really well in the real estate business, to find that kind of gap and it gives you more to strive for, right. So it's good to have those kind of needs outside of just, you know, that work life balance that person, personal kind of touch to make sure you're in tune with yourself. So couldn't agree more. Drew, I'm just wanted to let you give the listener a little bit more about what you have going on. I know. You mentioned the Mid Atlantic conference and you have a couple podcasts. So you just want to kind of fill them in with what you got going on and how they can contact you today.

Jerome Myers:

Yeah, man, I the Mid Atlantic multifamily investing conference is a virtual event happening September 17, through the 19th to 2021. It's the most diverse lineup of speakers that you see in the country. And the whole goal there is to expose you to some folks that you won't see on some of the other stages and it's not because there's subpar. In fact, a lot of their stories are a lot more raw because they don't go around the country speaking for a living. So we invite you to come out there is no pitch fest there. There's nothing else to buy. I'm the only person that has something to sell and I'm not going to sell it to you at the event. We just want people to come have a great time and learn more about multifamily investing so they can hop over to Myersmethods.com/fall21 and grab their tickets.

Dave Morgia:

I love it man. Some gritty stories are definitely fun to hear. It's a I guess, kind of more than multifamily missteps like your podcast, right kind of making sure you avoid the mistakes that others have made. So if you can learn from others before you make it that's that's a win right there. So I love that. Yeah. Really appreciate the time today, Jerome.

Jerome Myers:

Sure. Glad to be here, man. Thank you for being so generous to share your platform with me.

Dave:

Thank you for listening. This has been the Making Money in Multifamily Podcast. If you have any questions, comments, or would just like to connect, please feel free to check out the show notes for how you can connect or visit longviewacquisitions.com

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No need to change strategies post-COVID
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Finding partners organically
Enjoying the company of those around you in the business
5KQ1 - If you could only pick one trait that explains your success, what is that trait and why?
5KQ2 - What is the most uncharacteristic thing you've done in your business and why did you do it?
5KQ3 - Can you name any time where you felt like you were not going to end up successful? How did you overcome that fear?
5KQ4 - Can you name a time where something in your business went perfectly and what did you do to make that a reality?
5KQ5 - What have you been focusing on lately to improve yourself or your business?