" podcast, caught the real-estate bug while pondering his future. At the time, he was only a sophomore in college.. "I had two roommates doing the same thing, and [the landlord] had the same thing going on downstairs. And when we multiplied that out, across the complex, the guy that owned the complex was making $700,000 a year ... and we never seen him or talked to him.
Fast-forward to today, and Myers has built a real-estate portfolio encompassing over 90 units across North Carolina and Virginia using a simple, four-part strategy. When all is said and done, Myers hopes to amass over 1,000 units and partner with more than 100 investors to share in the profits.Informed and inspired, Myers entered the real-estate investing arena bright-eyed and bushy-tailed, ready to scoop up multifamily properties by the handful. Instead, he caught a hard dose of reality.
To Myers, it's a crucial distinction. As a rule of thumb, if a property is going to be a nightmare to recapitalize, he'll likely pass. "And then we move into the funding phase," he said. "In the funding phase, you put together your business plan, select your team, go through your due diligence to prove out the assumptions that you had when you did your underwriting, as well as get into the place where you can present it to the bank and other potential partners.
"So we budget according to what actually has to be done in order to achieve the business plan versus just doing a blanket number," he said. "We don't do wholesale changes."
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Instagram star @MrsDowJones shares an inside look at a day in her life - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Investing strategy, what to buy if interest rates rise: Morgan Stanley - Business InsiderMORGAN STANLEY: High-growth tech stocks are entering a dangerous phase that is being mostly overlooked. These 3 trades can help investors profit while minimizing the risk to their portfolios.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Investing advice: JPMorgan shares 5 biggest market opportunities in Q4 - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. My investment secrets: 1. The company should have an original idea that tries to develop it and upgrade it all the time. 2. The company should have managers who think only for the benefit of the company. 3.will need to follow me and see my thoughts.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Worldwide survey reveals 3 biggest threats to commercial risk estate - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Barstool Sports, Dave Portnoy explain mobile sports betting strategy - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Barstool is for tools. 'Big names like Dave Portnoy' lol good luck with that As soon as its legal in missouri or kansas, that's where my action will go.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market investing, picks for $1 trillion growth of space industry - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »