In a culture with an aversion to failure, learning something new is scary. So, what is the best way to build new skills? How much information do you need before you start doing? And how do you keep moving forward when it gets hard?
Real Estate Investor and Developer Jerome Maldonado got his start in direct sales and built a six-figure network marketing business in his mid-20’s. He leveraged those skills in team building and sales mastery to pivot into real estate and construction. Today, Jerome runs an eight-figure empire, and he is currently focused on land development and multifamily investing.
On this episode of Financial Freedom with Real Estate Investing, Jerome joins cohost Garrett Lynch and me to share his blueprint for getting into a new business and offer advice on how to stick with something when it gets hard. He explains how he developed such a strong work ethic, describing how he built a successful construction business and what inspired his pivot to buying land. Listen in for insight on minimizing risk as a land developer and learn Jerome’s secret to developing new skills as an entrepreneur and real estate investor!
Jerome Maldonado – Key Takeaways
How Jerome developed a strong work ethic
- Parents set example growing up
- Learned from competitive sports
What skills most contribute to Jerome’s success
- Consistency
- Stay focused through difficult times
Jerome’s advice on sticking with something
- Have faith in what you’re doing
- Press yourself in multiple ways
How Jerome built a successful construction business
- Helped brother-in-law take over crew
- Leveraged sales experience to win big bids
What inspired Jerome’s pivot to buying land
- Met developer at construction site
- Not afraid to ask questions about business
Jerome’s blueprint for getting into a new business
- Take time to get educate yourself
- Be a DOER (but be methodical)
Jerome’s reduce-the-risk approach to land development
- Work through entitlements during due diligence
- Ready to start immediately once land acquired
How to learn more about land development
- Surround yourself with right people
- Inundate yourself with material
- Give up equity to veteran partner on first deal
Connect with Jerome Maldonado
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