News — black in business

Gretta Jackson took a job as a part-time server job at an Outback in Southfield almost two decades ago to put some extra money in her pocket. She worked her way up to become the first Black woman in the Detroit area to own her own location.

She announced the news on her Facebook page:

“On this day 19 years ago I began my journey with OUTBACK STEAKHOUSE as a part time server… What started off as a Hustle would quickly become my career…. fast forward to today MY 19TH YEAR ANNIVERSARY with this company and I NOW OWN MY VERY OWN OUTBACK STEAKHOUSE!!!  BECOMING THE FIRST BLACK FEMALE MANAGING PARTNER FOR OUTBACK STEAKHOUSE IN THE DETROIT MARKET!!

GOD IS AMAZING…THANKING AND PRAISING HIM FOR IT ALL 

NOW HIRING FOR ALL POSITIONS

“

Jackson can now say she’s the managing partner of an Outback Steakhouse restaurant in Roseville.

After posting to her social media page, Jackson told Fox 2 Detroit how people randomly stopped by the restaurant to show her support.

“What started off as what I thought was just a simple post to celebrate a milestone in my life quickly turned into something else,” she said. “I could never imagined so many people would come to say hi and thank you and congratulations to me in person. I’ve had people send gifts, flowers, Edible Arrangements to the restaurant for me. Just an overwhelming amount of love and support.”

The majority of Blacks and other minority groups are underserved and underbanked in America. The situation has been attributed to the fact that few banks operate in Black communities. The Federal Deposit Insurance Corporation (FDIC) in a report noted that Black and Hispanic households are more likely to be unbanked or underbanked. 

It found that more than 15 million colored people did not use America’s formal banking system in a survey published in 2015. However, according to the Center for Financial Services Innovation, underserved people in 2016 spent $173 billion in interest and fees. 

Two Black entrepreneurs have set out to address this challenge. Darnell Parker, founder of Ingenious Financial, and Derek Taylor, Chief Operating Officer of Ingenious Financial, have announced plans to raise $200 million to purchase an existing bank to serve underserved and underbanked communities.

Parker and Taylor say the rationale for wanting to purchase an existing bank is to avoid the strict regulations and other challenges that come with starting a bank from scratch.

“When larger financial institutions absorbed some of the minority deposit institutions banks, they left a tremendous void for these banks, who previously served minority communities by providing small to medium-sized business loans,” Parker says.

Minority banks have long been considered innovators in the banking industry, Parker says, adding that they play a significant role in the economic empowerment of minority groups. “But in recent years, they have not always managed to keep up with technological advances,” he said.

The new acquisition will be named Bank of Ingenious and its primary focus will be on supporting underserved retail and business customers who need loans, specifically targeting independent physicians, dentists, veterinarians and similar professional services providers.

Additional details of the bank’s operation include operating with a small physical presence and setting up branches at institutions that are needed. Its operations will also be migrated online to meet current demands and dynamics.

Parker and Taylor plan to complete the acquisition of their first bank by the end of the third quarter and acquire more in the fourth quarter and in 2021. So far, they are meeting prospective targets and are looking for a bank within a metropolitan area with between $50 million and $600 million in assets.

“We hope that this investment will sustain African American financial institutions in the American history, foster popular, engaging workflows, and bring innovation to every client, customer and community we serve,” Parker says.

Jay-Z has sold half of his Champagne brand Armand de Brignac to Moët Hennessy, the luxury wines and spirits division of luxury giant LVMH. The acquisition was through a partnership with the rap legend which is anchored on equal stake and a global distribution agreement.

“The 50%-50% structure is an essential element of this alliance and ensures that each of the two partners wants to bring its strengths and expertise,” Moet Hennessy announced in a statement.

According to CNN, the deal comes at a time when LVMH, which owns Moët Hennessy, is working to reach out to diverse customers in the wake of racial criticism against top industry players. In the statement, Moët Hennessy said Armand de Brignac appeals to a global and diverse luxury consumer.

The deal also comes at a time when the coronavirus pandemic has affected the sale of Champagnes due to reduced parties and events across the world. According to CNN, Champagne shipment fell 18% in 2020 compared to 2019. And according to CNBC, this translates into some $1.2 billion of revenue loss.

Armand de Brignac, sometimes referred to as “Ace of Spades”, is popular in North America, Asia, and Europe, with over 500 000 bottles sold in 2019.

“Today, we are incredibly proud to be partnering with them and believe that the combination of our Champagne experience and international network coupled with Shawn JAY-Z Carter’s vision, the strength of the Armand de Brignac brand and quality of its range of prestige cuvées will allow us to take the business to new heights across the world,” said Philippe Schaus, President & CEO of Moët Hennessy.

Neither side disclosed the amount involved in the deal, but Jay-Z intimated on a rap verse on What’s Free by Meek Mill that Armand de Brignac was valued in 2018 at $250 million.

“It is a partnership that has felt familiar the entire time. We are confident that the sheer power of the Moët Hennessy global distribution framework, its unparalleled portfolio strength and its long-established track record of excellence in developing luxury brands will give Armand de Brignac the commercial power it needs to grow and flourish even further,” Jay-Z said.

The rapper revealed in an interview with CNBC that the deal was started in 2019 when he hosted a lunch at his house for Bernard Arnault, LVMH’s founder and chairman, and Alexandre Arnault. “It just started out in a place of respect and built from there pretty quickly,” he said.

Jay-Z’s first connection with a Champagne brand was Cristal in 2016. He fell out with the company after its CEO made some racial remarks in an interview with The Economist. That same year, he bought 50% stake in Armand de Brignac with a partner. He later acquired the remaining stake.

Former NBA player and entrepreneur Chris Webber has announced that he is launching a $100 million private equity cannabis fund in partnership with Jason Wild and JW Asset Management L.L.C. (“JW”). This fund will invest in companies that are led by entrepreneurs of color who are pursuing careers in the cannabis sector.

“As our country moves closer to federal legalization, I believe it is more important than ever to empower the next generation of cannabis leaders in a tangible way,” said Webber in a written statement. “I’m thrilled to team up with Jason on this endeavor—he’s a visionary in this industry and understands the urgency of supporting minority business leaders in this space.”

The collaboration between Webber’s Webber Wellness and Wild’s JW Asset Management will work to invest in underrepresented entrepreneurs in the cannabis industry. The partnership will provide them with an ecosystem of resources for the businesses that will facilitate research and development (R&D), cultivation, retail licensing, distribution, branding, and marketing. JW has been actively investing in the cannabis industry since 2014 with more than $2 billion in assets under management. They have also invested in numerous industry leaders spanning multistate operators, technology, and retail companies.

“It’s crucial that we diversify leadership within the cannabis industry and level the playing field for people from our communities,” said Webber. “For far too long, minorities have been excessively punished and incarcerated for cannabis while others profited. Working with JW, we will equip underrepresented entrepreneurs with the financial resources and industry knowledge to build businesses and thrive.”

“The legal cannabis industry can only grow to its full potential when all stakeholders have a seat at the table, and I feel that it is my responsibility to play an active role in eliminating barriers to entry for individuals that have been disproportionately targeted by the War on Drugs,” said Wild, founder and chief investment officer of JW Asset Management. “I look forward to partnering with Chris and his team to elevate talented entrepreneurs and build a more inclusive industry.”

Tech investor Shawn “Jay-Z” Carter and Twitter CEO Jack Dorsey are on a mission to make bitcoin (BTC) the internet’s currency. The two billionaires are investing 500 bitcoin into a new endowment called ₿trust. With the rapid rise of bitcoin in the last few weeks, the 500 bitcoin investment is currently worth over $23 million.

Dorsey shared the news on Twitter Friday, announcing that the investment would be used to fund bitcoin development in Africa and India. He noted that the endowment will be set up as a “blind irrevocable trust” and have “zero direction” from himself and Jay-Z.

The duo is searching for three board members to help oversee the endowment. Dorsey shared a board member application with three simple inputs: email address, name, and proof of work.

Two Investors Join Forces

Jay-Z is widely known as a music mogul but he’s no stranger to the investing scene. He’s the co-founder of Marcy Venture Partners, a venture capital firm focused on consumer brands. Last year, the company raised $85 million and had already invested in six companies.

Since 2015, Dorsey has served as the CEO of both Twitter and Square. A few months ago, Square invested $50 million in Bitcoin. The company believes that cryptocurrency is “an instrument of economic empowerment and provides a way to participate in a global monetary system”.

What is Bitcoin?

Founded in 2009, bitcoin is the world’s first decentralized cryptocurrency. It is also the largest cryptocurrency in the world based on market capitalization. Bitcoin provides an efficient and cost-effective way to make financial transactions.

Proponents of bitcoin favor this digital currency because it works without the use of intermediaries like banks and governments. This is all powered by blockchain — a powerful piece of technology that allows uses to exchange value on a public ledger. Many believe that blockchain has the power to transform the world.

Bitcoin is Gaining More Attention

According to CNBC, Tesla bought $1.5 billion worth of bitcoin and plans to accept it as a payment method. This week, Mastercard announced that it would start supporting a select group of cryptocurrencies on their network.

Major investors have already started jumping on the cryptocurrency train. Top investors Paul Tudor Jones and Stanley Druckenmiller are investing in cryptocurrency to protect their portfolio against inflation.

Several factors affect Black businesses. The common factors known among many people are access to capital and racism. Various publications have reported Black businesses having access to less than 9% of venture funding. Many Black businesses are also relatively unknown because they do not have the capital to expand their operations or run ads.

Meanwhile, Google trends show global searches for ‘Black-owned’ jumped from late May to June of 2020. It has fallen since then but has remained at a higher level than during the 10 years prior.

To promote Black businesses in a sustainable way, a Canadian entrepreneur has launched an online store and database to help people easily find Black-owned businesses in the city of Toronto. Founded by Kerin John, Black Owned Toronto allows Black businesses to enlist for the purposes of business promotion.

“I found I wasn’t putting enough money in my own community,” John told Daily Hive. “Many Black-owned businesses don’t have storefronts—they’re home-based chefs, bakers, clothing designers, in e-commerce—so when you google search or Google maps it, not a lot comes up.”

“I decided to make it a passion project, by contacting people and asking if they knew anyone I could put on the page.”

John first started promoting Black businesses using her Instagram page and she decided to push her initiative higher by founding Black Owned Toronto. John believes her new venture would be a better way for people to find Black businesses instead of just scrolling her Instagram page.

“Wherever you are in Canada, you’ll be able to go on the website and find what’s around you that’s Black-owned,” John told CBC. So far, she has over 20 companies listed and hopes to increase her capacity to about 1,000 companies listing.

John’s page came to light after many people began searching for Black businesses to support following the murder of George Floyd. The period saw her Instagram following rise to about 75,000.

One of the businesses that have listed on Black Owned Toronto is Chantelle Lewis-Walters, the founder of Melanin Martha, a lifestyle store that provides witty Caribbean-inspired kitchen towels, drinkware, socks among others. Lewis-Walters said she was able to see a 300% increase in her business sales and a 20% increase in her social media following.

“More importantly, I was able to see the need to continue to keep sharing my business and represent my culture proudly,” she told Daily Hive.

It costs business owners $50 to join Black Owned Canada. However, according to John, the challenge now is to sustain interest in Black businesses. She is nonetheless optimistic that her venture will help Black-owned businesses to overcome their financial challenges.

At 29, Theo Baloyi has a made name for himself in South Africa as one of the thriving young entrepreneurs. His journey started when he met a French businessman with a shop at Durban Airport a few years ago. In a long conversation, the two of them talked about entrepreneurship and culture.

That was when the interest to go into entrepreneurship started for Baloyi. He told himself if he wanted to make an impact, he needed to take calculated risks. He then decided to venture into the footwear industry after noticing a market gap.

Through his research, he noticed that most of the sneakers on the continent were imported brands. And so he wanted to design something with an African touch. Initially, he wanted to import the sneakers from established brands but later decided against it.

In the process, Baloyi co-founded Bathu, a South African township slang for ‘shoes’, in 2015. His brand of sneakers is designed with a distinctive mesh fabric and thick white soles.

“I did 18 months of research and development, which included coming up with a proof of concept, quality testing and quality assurance,” Baloyi explained in an interview with Howwemadeitinafrica. Baloyi’s accounting experience helped in this regard. “I’ve been fortunate to have extensive experience with business and finance modelling in a corporate environment.”

According to him, he settled on the name Bathu because his business is about uniting people. “It doesn’t matter where you go, whether it’s a place filled with isiXhoa, isiZulu or Sepedi speaking people, South Africa know what it means. It unites us, and that’s what the business is about- uniting people,” he told news24.

Today, his shoe business makes a turnover of over $1 million. The company also has four cars, two stores at Gauteng, Johannesburg and Port Elizabeth. 

South Africa is one of the unestablished markets for sneakers and so for most designs, manufacturing companies do not have the right equipment for it. And in some cases, the companies have to source the right equipment, by which time the designs submitted would have been outmoded.

“In South Africa, you need about eight months to manufacture a new shoe. In the East, this usually takes four weeks. While South African factories can buy expensive equipment to manufacture according to specific requirements, the trends and styles may no longer be current when the product is completed,” Baloyi told Howwemadeitinafrica.

Through his network, he found a manufacturer for his first 100 Bathu sneakers. “A colleague at PwC whose friend’s family owned a factory… So, I got to work,” he said. In 2017, he managed to release 1000 pairs of Mesh Edition sneakers through a collaboration with an incubation hub in Johannesburg.

Baloyi said his success even surprised him. “The rewards were are reaping now are pleasures I thought we’d only see a couple of years from now,” he said. “But through the hard work and perseverance of my team, we’ve come this far in just three years.”

According to the entrepreneur, he reinvested profit from his business in order to make it a sustainable venture. “Five years later, this is where we are: 15,000 pairs per month and it’s growing,” he said.

Currently, there are 12 Bathu retail outlets across the country, aside from the online store. The company employs 103 people.

While it seemed everyone rushed to stock up on toilet paper at the start of the pandemic, a group of Black men saw it as an opportunity to launch a startup that brings a new toilet tissue line to the market.

Five Black men from Ohio, who call themselves “mogul minds,” created a toilet paper brand called “Leafy.” With the company motto, “Go Green, Stay Clean,” Leafy is an eco-friendly brand that focuses on the betterment of the environment through the benefits of bamboo.

According to the company website, the founders say, “We look to educate and elevate consumers to be more socially conscious through the use of biodegradable paper products. We partner with organizations centered on environmental solutions and organizations that elevate underserved communities to build sustainability.”

In addition to being good for the environment, the brand is intended to benefit local communities.

“We wanted to bring in a product that would have a direct impact on the community, co-founder D’Andre Martin told WBNS. “Proceeds from our toilet paper company are going back to minority communities,” added co-founder Charles Peaks.

While the group launched the business only a few months ago, Leafy is already thriving. The brand can be found in local grocery stores in Ohio, the Hyatt, and on the company’s website.

“We feel amazing about it,” Marvin Green, another of the founders, told WSYX. “It’s exciting, we look forward to watching it grow.”

Leafy now joins a short nationwide list of Black-owned paper product brands and is the first in the state of Ohio. In fact, the state of Ohio is reporting that 2020 was a record year for new businesses in the state, with around 160,000 new businesses that launched.

While the founders say they enjoy the success so far, it’s about more than making money.

“We’re not even thinking about money right. It’s about growing our communities, being able to help, educate people, and get them more aware of what they’re using,” the group told WSYX.

Young environmental scientist Dorothy Jean Tillman garnered national attention when she received her master’s degree at 14-years-old.

Now, the Chicago teen is breaking into entrepreneurship by exposing more youth to opportunities in STEAM. She’s giving more Chicago youth a head start in life by showing them what’s possible. 

“I know, one thing that I would want every kid to know is that what I did is an option and that they can do it too,” said Tillman to Rolling Out. “It doesn’t take a genius or someone who has been learning forever. I’m not perfect. I’m not the smartest person in the world. It just takes dedication.”

From Environment Scientist to Entrepreneur

STEAM (Science, Technology, Engineering, Arts, and Math) is a growing field and Tillman wants more youth to know how they can get involved.

The 14-year-old has always had a passion for STEM, obtaining high rankings in all those subjects in school. This inspired her to pursue a master’s degree at Unity College. Tillman made history as the youngest environmental and sustainable scientist in the U.S. Her desire to expand opportunities is stronger than ever since COVID-19 has eliminated many traditional activities for youth.

“I’ve been working on STEM labs for kids because I really want to go into the STEM-related field and work with kids,” Tillman told Rolling out prior to earning her master’s degree. “I feel like I’m here to make people happy and to help people find their purpose. I might go back to school, but my plan is to be an entrepreneur and [use] my engineering degree.”

The Launch of a STEAM Camp

Tillman expanded her STEAM vision through the launch of the Dorothy Jeanius STEAM Camp. All teens who participate in the camp will receive a customizable at-home STEAM activity kit. It’s one of the components of Tillman’s business, the Dorothy Jeanius STEAM Education Leadership Institute that was launched in 2020. The young entrepreneur founded the STEAM Labs in Chicago and West Capetown, South Africa.

“A teen is a teen no matter where they are from,” says Tillman in a statement. “We all love TIKTOK and many enjoy hip hop. The key is showing them where the STEAM is in everyday life.” 

Tillman’s brilliant idea provides safe education and enrichment opportunities during the COVID-19 pandemic. The kit includes science-focused projects, creative arts, and coding to give students access to different skills and career options. It also builds in mindfulness activities to help teems maintain mental wellness.

“People learn at different paces. One of our kits can last up to 6 months, even longer depending on STEAM knowledge and skill set,” Tillman explains in a statement.  

Teens who receive a kit also become members of the STEAM camp, providing another opportunity to network with other young STEAM achievers.

Using Her Education to Make a Difference

Tillman has enjoyed many unique and trailblazing experiences during her 14 years of life.

She enrolled in college at the age of 10 and completed a Bachelor of Science in Humanities in 2018. She’s also received numerous awards and honors including the 2021 WVON 40 under 40 Game changers and a 2018 Black Girls Rock award.

But what matters most to this young teen today is using her education as an environmental scientist to make a difference. She led a Jeopardy-inspired virtual STEAM game show to commemorate Dr. King Holiday. She’s also hosted a virtual STEAM fair and business pitch competition to award scholarship dollars. Through the Dorothy Jeanius Camp, teens in Chicago will get a chance to work with youth and gain exposure to STEAM-related career opportunities. 

There’s no doubt that Tillman’s path as an environmental scientist and entrepreneur will inspire more youth to achieve excellence and give back.

There is nothing more rewarding and inspiring than to see women of color set new standards and trends through entrepreneurship. African American women were among the fastest-growing groups launching and owning new businesses according to Forbes. Tenisha Williams, CEO of Elite Realty Partners, is no exception. She has established and grown the largest Black woman-owned real estate brokerage firm in the Miami/Fort Lauderdale (South Florida) area—breaking $100 million in sales in just over two years.

While this is an impressive milestone, Williams and her Elite team show no signs of slowing down but are staying focused by remaining positioned and purpose-driven to help more individuals and families achieve their goals of homeownership and real estate acquisition. Currently, there are 140 agents with virtually no marketing efforts. Much like Chick-fil-a customers, agents keep on pouring in—what a wonderful problem to have.

Williams, a former county worker, knew from the onset that she was not there to stay. While fellow employees were content with great benefits and the future hopes of retirement, her sights were set on higher aspirations. In 2017, during a mother-daughter trip to St. Lucia, she was settled after speaking with her husband that she was not returning to work. She was convinced that she found her purpose through the love of real estate, and she had made her first six figures working part-time.

When asked to what she attributed the accelerated growth of Elite Realty, Williams credited it to her faith and favor from God. She was determined to put in the work and remain faithful. Although she manages a large team, there is a culture of family where no agent is an island. The benefits are the friendships that have been established, the collaboration of agents, the joys of winning together, and the willingness of helping one another succeed.

Williams says that she is more than a CEO, but a coach at heart that pours into her team keeping them pumped and empowered to crush their goals. Her passion to help and develop other agents are innate. However, the ability to manage so many personalities synergistically was initially a struggle. As a former correctional officer and teenage mom, her strong personality seemed curt at times. She quickly learned to master the right delivery in communication and messaging without hurting or offending others in the process.

“The pressure is unimaginable. Sometimes I cannot sleep at night because my brain will not stop thinking of ways I can add more value to my team,” Williams says of the pressure of running a top brokerage firm in South Florida. “I truly am invested in their careers, so I take the responsibility seriously. This is not a task for the weak at heart.”

Of course, striking a delicate balance between work and family is vital, so self-care is a must and Sundays are exclusively reserved for family.

Elite Realty Partners is also considered a ministry (serving the needs of others) to many agents and customers. There has been an overabundance of customers and agents breaking through various hardships and setbacks, bouncing back to victory with the help of the brokerage. For example, some agents did not sell one house at their former brokerage, and after coming on board with Elite, they become top producers selling millions in real estate.

“Some agents come through the doors timid and withdrawn, then evolve into bold and assertive real estate warriors. It is beyond amazing to witness,” she says.

As the head of the largest Black woman-owned brokerage firm in her area, Williams remains humble, grateful, and thankful to the Lord for being chosen and entrusted with such a huge role. Her mission is to change the narrative and diversify the faces in real estate throughout the Miami/Fort Lauderdale area. She and her team are always ready to do the work and reap the rewards that lie in the days ahead.

Many young people across the country have dreams of becoming their own boss and creating their own business. One young Philadelphian has already started a business at the tender age of 11, running his own car detailing and cleaning service.

Jabre Dutton is the owner of Jabre’s Car Cleaning Service, servicing locals in his community. Dutton was able to start the business after earning $20 from cleaning a family friend’s car. With his mother Sabrina Dutton’s encouragement, he slowly began to build his business, creating flyers and handing them out to residents around the neighborhood to gain new clients. Now, Jabre says he has a steady business flow and enjoys hearing his customers rave reviews on his services.

“My favorite part about doing this job is getting my customers’ reactions out of it,” Dutton said in an interview with Germantown InfoHub. “When it’s done, when you look at it, they look so happy. I get really excited because they’re excited.” Dutton often shares their reactions and positive affirmations on his Instagram page.

Dutton’s mom says running a business has given him many valuable lessons, including how to be more financially responsible and the inner workings of running a successful operation. “So it’s kind of like slowly trying to get him into understanding money and responsibility,” she said. “So with every car, I tell them a percentage goes to savings, a percentage goes into his pockets, and another percentage goes to his supplies.”

Dutton went on to say he plans on use some of his savings to get an iPhone as he prepares for school. “I never had an iPhone and I’ve always wanted a phone.”

He continued: “But when my mom taught me about financial savings I was like, I should be really considerate about our money. So the money that I keep is going to be raised for that iPhone and the money in my savings before anything else.”

Jerome Myers left his corporate job after being forced to lay off over 100 employees within two years. Now, Myers is helping thousands of people gain freedom through real estate. He’s been featured on numerous podcasts and has been a speaker at conferences all over the United States.

“A lot of people are putting money into their 401k. But that money is locked away until you’re in your 60s,” says Myers in an exclusive interview. “What if you can do something that turns on cash flow now and will allow you to get your freedom earlier?”

After leaving his corporate job in 2016, Myers built a portfolio of six multifamily properties. Now, he’s adding a 120-unit property in Greensboro to his multimillion-dollar real estate portfolio.

“Your dream can be real,” says Myers. “You just have to be willing to do the work.”

How It All Started

At age 5, Myers thought he had his dream job figured out. “I want to be a trash man,” Myers shared with his mom. He admired the freedom and flexibility that his neighbor enjoyed. Unlike his military-based father whom he rarely saw until dinnertime, his neighbor was able to be home with his kids after they came home from school. But his mom quickly shifted his dreams in a different direction. “You need a job that will pay for the lifestyle you wanted to live,” she informed him. 

Myers decided to pursue a career in civil engineering and was able to break the six-figure mark by the age of 26. He was even hired to build a $20M division of a Fortune 500 company that turned out to be very successful. But he already knew that working in corporate America was not his long-term game plan. After realizing that the owner of his apartment complex was making over $700,000 a year, Myers knew which path he wanted to pursue. There was one problem: Myers didn’t have any connections or education in multifamily real estate investing.

From Fix and Flip to Multifamily Real Estate Investor

Myers started lending money to people who were doing real estate projects while he was in corporate America. As he became more educated about the business of real estate, he starting doing fix and flips. Soon, he found a partner who was able to help him build a multifamily real estate portfolio.

“Every investor is overcoming four challenges no matter where they are in their journey,” says Myers. “The first one is knowledge. The second one is deal flow. The third is experience. The fourth is capital.”

Myers adds, “A lot of people go to capital first and say they can’t do real estate because they don’t have any money. Having zero dollars is not a winning recipe for doing real estate. But you don’t need to have all the money to do real estate. The first step you should take is to get educated.”

A Conference That Delivers Results

Myers didn’t have access to real estate mentors when he was growing up. That’s why he’s making sure others have a better chance to get their foot in the door.

Myers leads The Myers Development Group, LLC and host conferences to help new and experienced real estate investors. “People can see practical examples of people who look like them,” says Myers as he shares his motivation behind the conference. “It’s not about having a bunch of people brag about how big their portfolios are and how many doors they have. It’s about giving people the stories on how others got from where they were to where they are now so they can follow the process.”

Myers also sees real estate investing as a way to close the wealth gap. “If you look at all wealthy families, even if they create their money through businesses, they put their money in real estate. It’s the most tax-advantaged investment you can make. Taxes is one of the things that take away the majority of our wealth. If you’re getting all your money from a W-2, there’s no way around that.”