#123: Escaping the Broken Education System for Success with Jerome Maldonado
The Founder Podcast
Chris Lee
5 • 1.4K Ratings
🗓️ 7 September 2024
⏱️ 76 minutes
🧾️ Download transcript
Summary
Welcome to a new episode of The Founder Podcast! Today, we're excited to have real estate investor and entrepreneur Jerome Maldonado joining us. Jerome has built an impressive $600 million real estate portfolio over the past 28 years, focusing on sustainable and workforce housing. What's fascinating about Jerome's journey is his unique perspective on working with immigrant business partners versus those from the US. He believes immigrants who aren't "jacked up" by the US education system often make better partners, as they're more eager to learn. Dive into Jerome's insights and lessons learned over his 30+ years in the industry and discover a new perspective on education.
Highlights:
"You know, what's great about America is that I love and I tell people, this is I'll take an immigrant as a business partner over somebody from the United States nine times out of 10."
"If I would have known 10 years prior that people would have really believed in me, I would have grown exponentially."
"What I caught it big is when we're going to the 2008 recession, I bought a bunch of subway stores."
Timestamps:
00:00 - Introduction
03:42 - Scaling Through Outside Capital
05:07 - Lessons Learned Over 28 Years in Real Estate
11:21 - Dealing with "Bottom of the Barrel" Employees
15:00 - Navigating Economic Challenges
21:00 - Dealing with Investor Emotions
24:40 - Adapting Strategies Amidst Rising Costs
27:51 - Transitioning to a More Hands-Off Role
37:59 - The Curious Case of American Food
50:16 - Jerome’s Tips for Better Relationships01:02:30 - Jerome’s Future Goals and Plans
01:12:50 - The Power of Enjoying the Now & Conclusion
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Transcript
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| 0:00.0 | Somebody outside the US, they can invest in the US as long as they comply to the tax code. |
| 0:04.7 | You know what's great about America is that I love, and I tell people this, is I'll take an |
| 0:08.4 | immigrant as a business partner over somebody from the United States nine times out of |
| 0:11.8 | 10. And the reason why is because they're not jacked up with our schools. |
| 0:15.3 | You know, because these guys come in and I can self-teach these guys like, |
| 0:19.7 | hey, this is what we're doing. |
| 0:21.4 | And I get somebody from here and they look at me like I'm from |
| 0:23.9 | outer space you know when I'm rising because they don't understand this stuff because we |
| 0:27.4 | spend 13,000 hours in school and they don't know they're never taught any of what our |
| 0:31.3 | company is really built around. |
| 0:33.1 | Dude, isn't that so true? |
| 0:34.5 | Just how it's jacked up our schooling system? |
| 0:37.2 | Oh, man, our schooling system's bad. |
| 0:39.0 | You got to be strategic in how you make your decisions, |
| 0:41.5 | because if you don't, it'll take take you under and since money's so expensive |
| 0:44.8 | but we have the experience the experience you can never get rid of luck my mom told when I was |
| 0:49.1 | on she said look so the only thing you take with you when you die is what you have up here you know so. |
| 0:53.0 | So drum you have like 600 million in real estate right now like tell us a |
| 0:59.2 | little bit about what you got going on. So we, our whole model right now is around sustainable |
| 1:05.2 | and workforce housing. |
| 1:06.6 | So most of our real estate is in the multifamily sector. |
| 1:09.5 | But we made over the course of time |
... |
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