Withers owns Withers Automotive but is also a prolific entrepreneur, philanthropist, and real estate investor.
For much of the public, real estate is a world of flashy deals, high-stake negotiations, and market fluctuations that border on the dramatic. It’s where fortunes are made but also lost, where skyscrapers are bought and sold as symbols of success.
Real estate is also a way for people to invest their money in properties that can create an additional source of income. That’s a rising trend, too — more and more people are doing it, even non-traditional investors who have to hold down a nine-to-five to be able to pay off the real estate.
But there are many different ways to approach real estate investments. There are even more ways to use the opportunities once one gets deep into the industry. Of course, the profit incentive can still be there — but there’s always a way to do something extra. And Marcus Withers is living proof.
Withers owns Withers Automotive but is also a prolific entrepreneur, philanthropist, and real estate investor. He got his first taste of business success early on, even before college, in the entertainment and event planning industry, and then real estate caught his eye.
“In 2003, I went full-fledged into real estate and started buying my rental properties. I probably did over 40 or 50 projects throughout West Louisville until the 2008 recession,” Withers says. “Then everything slowed down and I kept my rental properties, but once the recession ended, I got back into investing.”
The list of his real estate projects doesn’t end there, either. What’s more interesting, however, is that his rapid onset of success in real estate opened additional doors for Withers. Because of his knowledge of and connections in the entertainment industry, he soon found a way to marry the two and become a bona fide figure in the musical culture of West Louisville.
“I got into music studios — I would buy the real estate and put up a studio. I’ve had probably five of them,” Withers recalls. “The most recent one I built was in 2017. I did that, and it became the number-one studio in Louisville and Kentucky. That was called 400 Recordings and it’s still in business today.”
Even more impressive was his effort to revitalize Joe’s Palm Room, a historic jazz club in West Louisville. Initially established in 1954 by Joe Hammond, it became a central spot for Louisville’s African-American community, attracting musicians from all over the United States and celebrities including Muhammad Ali. After Hammond’s passing, the club closed and was taken into the endowment fund of Bellarmine University to support African-American students to attend the college. The university then leased the property as a nightclub, but that business ended up closing. Years later, Withers later took the property into his own hands, albeit reluctantly.
“When I bought the property, it wasn’t even my vision. My mother-in-law’s brother came to me and said, you can buy this building,” Withers recalls. “I wasn’t trying to own a nightclub. I was busy flipping properties, doing construction projects.”
Still, Withers agreed, but he decided to get involved only after his relatives’ sudden passing. At that point, he put in all his knowledge from refurbishing and renovating old houses and ensured that Joe’s Palm Room was a sight to behold.
“With my connections with the music business, I said I’ll start bringing these acts in, and that’s what I did. That’s how I rebranded this club,” says Withers. “I did 14 shows through COVID. I had comedians on. I made this place into a melting pot.”
Withers eventually exited the business once the opportunity opened to enter the automotive industry, which is his primary focus now. But he’s still very much into real estate, trying to work out angles for helping others, not only for his bottom line. Even though he’s still flipping and rehabbing houses, he’s also very active in developing affordable housing, with an 80-unit project underway.
“I still want to do affordable housing projects. I have to do that. I’m called to do that. That’s what I’m supposed to do for inner city youth,” Withers explains. “Growing up in the inner city, I feel like affordable housing is how I give back. That’s how I create great living spaces for African Americans to have somewhere to live, in nice places.”
Marcus Withers’ business empire started with a talent showcase in his native Louisville. Today, he’s heading towards opening no less than ten car dealerships, with plenty of real estate deals happening between the two.
While it would be untrue to say that Withers didn’t benefit from them financially, it would also be dishonest to say that he was the only one whose life got at least a little bit better from his real estate dealings. “You can’t reap all of this and not give back,” Withers concludes. “We have to lift as we climb. Bring people up with you. You always have to reach back and empower others.”