20: Jerome Maldonado The Clever Investor Show Podcast

Joining us today on the Clever Investor Show is Jerome Maldonado

Jerome Maldonado has been a self-employed Entrepreneur. Inspired by his parents’ dedicated work ethic, Jerome has always had a hunger for success and a willingness to do whatever it took to make his vision for his life a reality.

He founded J. Jacob Realty, LLC., and he is still currently the active Qualifying Broker. J. Jacob Realty, LLC was put into place to complement its sister company J. Jacob Enterprises, Inc, in 2000. He is still the active President and CEO of J. Jacob Enterprises, Inc. and the Qualifying Broker for J. Jacob Realty, LLC. Additionally, he is the founder of several other corporations and an investor and equity owner in several diverse companies and industries.

Today, Jerome is excited to bring over 20 years of professional experience to the world’s business owners and entrepreneurs. He can’t wait to share his knowledge to help other hungry people take their lives to the next level.

In today’s podcast episode, Cody and  Jerome discuss the challenges of breaking into the multifamily real estate market. Jerome shares his personal experience of moving from single-family homes to multifamily properties and how he found success with the help of a mentor. They also discuss the pitfalls of relying on cash for deals and the challenges of dealing with banks during a market downturn. Jerome also shares how he had to adapt his strategy and scale his business to succeed in the industry. The conversation provides insights into the multifamily real estate market and the skills needed to succeed in it.

HIGHLIGHTS:

Jerome talks about making an embarrassing amount of money and keeping more of it through understanding tax benefits and the tax structure.

He also discusses multiplying your money and making it matter by investing in smart products, such as affordable housing.

Jerome shares his journey as well from single-family houses to multifamily apartments

He advises staying focused on what you currently do well, while also migrating and educating yourself on new investment opportunities. It’s okay to learn from successful investors and start executing small investments.

Website URL: https://jeromemaldonado.com/

Social Media:

Jerome Maldonado IG 👉  https://instagram.com/thejeromemaldonado?igshid=YmMyMTA2M2Y=

Jerome Maldonado YT 👉 https://www.youtube.com/channel/UCtwtRGxF2viCRYui_xOKUuQ

Jerome Maldonado FB 👉 https://www.instagram.com/josephfazio/?hl=en

TIME STAMPS:

00:00 – Prelude
00:11 – Introduction to Jerome Maldonado
01:12 – How he started in the multifamily construction industry in 2009 indirectly and became fully immersed in it in 2016
03:18 – How he initially found the industry challenging and wanted to leave, but grateful he stayed and learned the game
06:40 –  How did you build your Power team? How did you approach it? How are you looking at things?
08:54 – How Jerome fights with lenders over servicing loans during a difficult market period while also investing in Class D properties and leasing to immigrants in a politically hostile environment
15:53 – What made Jerome realize that he needed to scale his business to avoid a similar future?
23:20 – Jerome recalls his struggles in building his business
24:50 – The key to success is tackling things as if you have nothing to lose and everything to gain
25:26 – The importance of tackling something with a non-negotiable attitude and the commitment required to build something
26:51 – The one thing that you can’t replace is CREATIVITY
29:18 – How did the multifamily business of Jerome start?
31:37 –  Implementing established systems and processes 
37:23 – Duplicating the process and not reinventing it!
40:01 – Effective management involves prioritizing and tackling problems
51:59 – What is 1031 exchange?
52:39 – How is wealth created in real estate?
1:02:35 – His journey of networking and investing in masterminds with successful entrepreneurs to gain knowledge
1:14:18 – Determine if a potential property investment is financially feasible before moving on underwriting
1:16:29 – Commercial market requires time, and negotiations are initiated with letters of intent.
1:18:50 – Architects are a reliable source for business as they have the necessary public information on their permit
1:22:47 – Finding a partner for a ground-up multifamily deal is essential
1:29:24 – Start small, understand the process
1:31:04 – Importance of experience and vetting in real estate investment and development
1:36:08 –  Strategic building process for multi-building projects
1:37:13 –  If you have an opportunity to double down on your revenue, wouldn’t you do so with the same amount of sweat equity?
1:40:54 –  EGO set aside
1:47:56 – END