As a Rich Somers listener, I'm giving you my DD framework free — the exact playbook behind a $435M+ portfolio. Plus a free copy of my book shipped to your door.
Jeremiah didn't inherit a portfolio or a Rolodex. He started as a cold caller, knocking on doors and negotiating at kitchen tables across rural America. That grit is still the foundation of everything Patriot Holdings does today.
"We're not a fund manager that allocates to other GPs and watches from the sidelines. We are the operators. We're the people in the field actually executing the business plan, creating the value, and solving complex problems deal by deal in real time. That's what built our pipeline. That's what powers our edge."
Over 17+ years and hundreds of deals, Jeremiah has assembled a 100+ property portfolio across self-storage, mobile home communities, and small-bay industrial -- asset classes that have historically demonstrated resilience across economic cycles. His "Jockey, Not the Horse" framework has become a lens through which sophisticated investors evaluate sponsors.
In real estate, the best deals aren't found on the open market. They're earned through decades of trust, discipline, and a relentless commitment to doing right by every partner in the equation.
Relationships with limited partners, sellers, strategic partners, vendors, lenders, and municipalities are the foundation of everything we do. We nurture relationships with sellers over years — sometimes decades — so that when they're ready to sell, we're the first call. This is how we uncover off-market opportunities you'd never see unless you're in the business every day, building the trust that opens doors before anyone else knows they exist.
We are extraordinarily selective. Every deal is scrutinized by independent teams — acquisitions, underwriting, asset management, and property operations — each challenging every assumption. No single person or department can pull a deal through. Final approval requires full Investment Committee consensus. In Q4 2025, we issued $600M+ in LOIs and closed on just $15M. That's a 2.5% close rate. That is selectivity in action.
We don't underwrite for aggressive rent growth, speculative occupancy assumptions, or cash-out refinancing. Our models are built on yield-on-cost execution and downside protection — conservative rent growth capped at ≤5%, exit cap rate expansion of 50–200 bps, and third-party validation from independent firms. Every assumption is stress-tested. Performance is driven by discipline, not market timing.
Two manufactured housing communities in Fund V that were sourced directly from long-term relationships — nurtured with the families, heirs, and estates of the original owners.
A Multi-Generational Relationship Pays Off
This acquisition was earned through a relationship that spans generations. By building trust with the family over years — understanding their legacy, their timeline, and their concerns — we were positioned as the natural buyer when the time came. No auction. No broker competition. A direct, off-market transaction built entirely on trust.
10 Years of Patience. One Non-Competitive Acquisition.
Jeremiah first built a relationship with this seller a decade ago. He stayed connected — year after year — nurturing trust without pressure. When the family was finally ready, there was no bidding war, no broker, no competition. Just a phone call and a handshake-to-contract that rewarded a decade of patience with a basis no open-market buyer could match.
Jeremiah's institutional-grade due diligence framework, distilled into a practical guide for evaluating any real estate sponsor. This is the exact playbook he uses to protect capital first, then grow it responsibly.
When the crowd chases core, your capital owns the essentials. We target asset classes that meet fundamental needs and have historically performed through up and down markets.
Discover structural advantages, tenant economics, and counter-cyclical performance across Patriot Holdings' core asset classes.
Structural Thesis: Residents own their homes; they rent the land. Moving costs $5K–$15K+, creating economic lock-in with sub-1% turnover. Virtually no new communities have been developed in decades due to zoning restrictions and NIMBY opposition — supporting durable pricing power.
Structural Thesis: Fragmented tenant base (10–15 businesses per building) delivers diversified risk. Demand driven by e-commerce, reshoring, and last-mile logistics. These tenants—contractors, HVAC services, auto repair—require physical space to operate, making demand inherently sticky. Supply is constrained by land scarcity and zoning.
Structural Thesis: The "4 D's" of demand—Death, Divorce, Downsizing, Dislocation—have historically persisted across economic cycles. During downturns, demand has tended to increase as people downsize. During expansion, it has typically risen from purchases and renovations. This dynamic has historically provided a counter-cyclical characteristic and relatively defensive cash flow.
Patriot Holdings operates a vertically integrated platform across 15+ states — with a remote management playbook that allows us to diversify across markets within our alternative commercial real estate focus. Self-storage, manufactured housing, and small-bay industrial: non-discretionary, essential-needs asset classes that have historically demonstrated resilience across market cycles.
Join the inner circle of investors who get Jeremiah's unfiltered analysis before anyone else. This isn't a newsletter. It's a front-row seat to how we think about deals.
Capital committed later in a fund's deployment cycle enters closer to the inflection point — nearer to stabilized NOI, observable value-add execution, and proximity to capital events. The result is a potentially shorter duration to distributions and, historically, a measurably higher IRR for later-entry partners.
As of March 2025, Fund V has acquired 17 assets across self-storage, manufactured housing, and small-bay industrial — diversified across multiple geographies. Distributions have commenced, and value-add execution is observable across the portfolio.
New partners entering today step into a portfolio where the work has started, the thesis is being validated, and the path to NOI growth is measurable — not theoretical.
Model projected returns with our Fund V calculator, or speak directly with our IR team.
Jeremiah's complete framework for winning at the game of commercial real estate investing — drawn from 17+ years and $435M+ in assets acquired. We'll ship a free copy to your door.
Listen to the full conversation between Jeremiah and Rich. When the episode drops, you'll find it right here along with video clips, highlights, and bonus content.
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Book a 30-minute clarity call directly with Jeremiah. No pitch. No pressure. Just a candid conversation about your investment goals, the current market, and whether there's alignment worth exploring.
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