45: Meet One of the Youngest Black Hotel Owners in the Game
What would you do if you only had $1400 to your name? Investing in real estate probably would not be your answer. But that’s exactly what Zuri’s guest, Jessica Myers, did. Jessica is a real estate developer with over 10 years of training and industry experience. Today, Jessica along with her business partner have made headlines after acquiring the Home to Suites in El Reno, Oklahoma - a deal valued at over $8.3 million. If you’re wondering how Jessica went from an unfulfilled, corporate ladder climber with $1400 to become one of the youngest Black hotel owners in the industry, then this episode is for you.
Zuri and Jessica chat about building wealth through real estate investing and Jessica isn’t holding back. She shares her “how I did it” story while also giving you insights into the behind-the-scenes pivots and needle movers that built her empire. From investing in real estate 101 to how the heck you even purchase a hotel, this episode with Jessica will blow your mind and inspire you to buy an investment property or two.
A Closer Look at the Episode:
[6:03] How Jessica started out in media but ended up owning a hotel
[9:29] Taking the first steps and pivoting into real estate investing
[11:25] What is wholesaling and why you should start there
[13:14] The importance of networking
[14:10] How Jessica worked a full-time job while getting her foot in the door with real estate investing
[16:26] Purchasing her first four homes back to back with $1400 to her name
[18:26] Making the decision to purchase a hotel
[21:17] The logistics of purchasing a hotel
[25:35] How funding works when you’re purchasing a hotel
[26:40] How the pandemic interrupted Jessica’s plans and what she did about it
[31:21] Why real estate and hotel ownership is not a get rich quick plan and the importance of setting goals
[34:20] How Jessica’s dreams have grown and how she’s expanding to support and empower her community
[36:17] Opening up the world of entrepreneurship
[37:55] How you can start building your wealth through real estate
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Zuri Hall is an Emmy award-winning TV host (Access Hollywood, American Ninja Warrior) and is the executive producer & host of this millennial-focused podcast that will empower women to avoid “best life burnout” through candid conversation, expert panel discussions, and real-life, human interest stories from everyday women.