Jerry Miller on bank lending
From #1 - Mastering Real Estate: Insights from a Seasoned Investor, Jerry Miller · · Arsenio Hart
“I bought 13 properties as a portfolio for $320,000 and my bank loaned $320,000 — a small local bank would lend 80% on the value of the portfolio because they weren't selling the loans to Fannie and Freddie, so they had their own underwriting.”
On , Jerry Miller, Senior Vice President of Commercial at HF SINCLAIR CORP, spoke about bank lending during #1 - Mastering Real Estate: Insights from a Seasoned Investor, Jerry Miller on Arsenio Hart.
About Jerry Miller
Jerry Miller, Senior Vice President of Commercial at Hf Sinclair, has been active in real estate investing and historical preservation. In 2023, he discussed his transition from a full-time information systems professional to a commercial real estate investor. He said he began investing in single-family homes 18 years ago and built a portfolio of 48 properties, later investing as a limited partner in a multifamily syndication. Miller emphasized the importance of cash flow, realistic underwriting, and time blocking to scale a real estate business. He also advised passive investors to understand the terms of their contracts and to select general partners with a track record of raising capital. In 2022, Miller presented on the North Central Ohio Industrial Museum, where he serves as president. He spoke about the museum's collection of local manufacturing history, including the work of inventor Harry F. Smith, who held over 200 patents and was a college roommate of Charles Kettering. Miller noted that the museum is located at the historic Mansfield Reformatory and opened in July 2022 after 30 years of planning. In a 2012 seminar, Miller discussed Facebook marketing strategies, advocating for syncing social media platforms, establishing a consistent brand voice, and using incentives to drive engagement. He also commented on Facebook's stock performance, stating that the company's founder appeared committed to long-term growth.