Welcome to the Managing CRE Risk podcast with Jeremy Goodrich. Today, we have a returning guest, Jerome Myers, one of our favorite people in the CRE space. Jerome is a commercial real estate and life coach who helps people realize and reach their investing dreams. In this episode, we talk about how Jerome manages risk in his businesses, how he makes decisions, and how to take the leap from a W2 job to your dream career.
Learn more about Jerome and his journey at shineinsurance.com/managing-commercial-real-estate-risk!
“I figured out how to allow my impact to drive income for me and I think most people think about it the other way.”
At the beginning of our conversation, we discuss our “Risky 6” questions. Jerome shares some risk-related stories from his journey that can help us understand and mitigate risk better.
- What’s a risk that you took that changed your life?
Leaving corporate America. Jerome started working in a consulting firm in 2009. He had the opportunity to grow a construction company to 175 people in a year. However, soon after he had to lay off half of the company’s workforce. Because of that, he decided to leave the corporate world and focus on his true passion, real estate. He wanted to combine service and impact with a profitable business.
- What is a risk that you’re comfortable with that maybe other people are not as comfortable with?
He is comfortable with betting on himself and believing in himself. According to him, if you have a solid strategy, the right support system, and the commitment, you will reach your goals, however big they are.
- As a kid, what were you scared of that would surprise us?
Jerome didn’t like being alone because he was scared of being lonely. However, he had to go through a period in his life when he learned to embrace being alone and lonely. During this journey, he realized that if he became comfortable with himself, solitude isn’t bad at all.
- How would you describe yourself as a decision-maker?
Jerome does the math first and then does an emotional check. If his emotions and the numbers match, then he moves forward with his decision. If there’s a disconnect between the two, he usually follows the math.
- What’s the biggest risk that you see commercial real estate investors take that concerns you?
The way people over-leverage their property and how they service debt.
- What is a risk to your portfolio that you worry about in the middle of the night?
That he had delinquency during COVID with his property management agency. He had to change agencies and was able to raise the rent eventually.
“Many of us are told to be practical and realistic, and that our dreams are not reasonable. But being reasonable doesn’t lead to an extraordinary life.”
Jerome is a CRE coach, helping people take the leap from their W2 jobs, become business owners, and reach financial freedom. At the end of the episode, he talks about how to take the leap and follow your dreams.
- Adjust your mindset and surround yourself with people who support you and lift you up.
- Understand that if you don’t follow your dreams, then you won’t be in the position to enable others to reach their dreams too.
- Have systems and processes in place before you take the leap to help you stay on track.
About Our Guest, Jerome Myers
Jerome Myers aka “J” is a developer of people and places. He is the founder and Chief Inspiration Officer of DreamCatchers and The Myers Development Group.
Through these entities, he gets to live out his childhood dreams of helping people manifest the things they imagine and create social proof that dreams should be real.
Since leaving corporate America after building a 20MM division at a Fortune 550 company, J has become one of the most sought-after thought leaders in the multifamily development space. His company, The Myers Development Group, built a multi-million-dollar portfolio following the principles of Myers Methods.
Unlike other coaching programs, we will go beyond strategy, assessments, and encouragement. Jerome pioneered Holistic Transformational Life Coaching more than 15 years ago. Up until about two years ago, it was only used with his closest friends and family. They repeatedly urged him to share his techniques with others and laid the foundation for introducing his methods to the world.
Mentioned in the show:
- His LinkedIn
- Jeremy’s LinkedIn
Need an instant insurance ballpark for your next Multifamily deal?! Answer 9 simple questions and we’ll give you a sense of what insurance should be. Visit us here for everything you need to know: https://www.shineinsurance.com/ballpark/
Special thanks to Jerome Myers for taking the time to share so many great insights with us
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Until the next time, We truly appreciate you listening.
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