As we get involved in the real estate world, we start tasting the sweet taste of it: we discover the benefits and rewards it has to hack our income and we get amazed on how fast it can transform our environment, our perspective, and our network skills. Our today’s guest is Adam Adams, and he is here to share with us the uniqueness he sees in real estate, and how he manages to fix & flip on a much larger scale.
Adam started investing in real estate almost 15 years ago: After repositioning his first apartment community back in 2007 duplicating its value in only 12 months, he bought the first apartment building, leading him to walk the path he is walking today. For that moment on, he knew everyone has the big chance to scale up in real estate (even using someone else’s money) and discovered the uniqueness and power this asset class can bring. Above all, Adams has educated thousands of investors through real estate conferences, radio and podcast interviews including the Best Ever Show, Investor Army and the Investability Podcast.
In this episode, our guest shares with us property classes from A to D and the differences among them, what can happen to rents if a downturn occurs and where you want to be investing time and money if this occurs. We learn from Adam how to get involved in multifamily investing and the secrets to shopping the right properties. He’ll show us what a midterm engagement is and how to achieve the ultimate goal: selling that property. Learn to manage modeling occupancies and vacant units on the same building in this episode of Income Hacker.
“In real estate, you have the opportunity to scale up, even with others’ money. Being able to get into something with nothing down, I’ve never seen that with other asset classes besides real estate.” - Adam Adams
Podcast summary:
02:24 - The uniqueness of real estate and how Adam bought his first triplex with none of his money.
05:16 - The market crash and why Adam opted for the multifamily way.
08:41 - The boom before the bust: how a downturn affects rent prices and vacancies.
12:40 - Property classes: the A, B, C, and D is for drugs.
16:29 - How to raise 5 million USD like it’s no big deal while fix & flipping 200 units at a time.
22:00 - How Adam manages remodeling, occupancies and vacant units on the same building.
24:00 - On comparables, the importance of management teams, and how Adam always feels confident to fill a 22% vacancy.
27:00 - Secret shopping: how Adam does his research and obtains relevant data from other properties.
29:12 - A midterm engagement and the ultimate goal: selling the property.
31:25 - The eight roles and how you can get involved in multifamily investing with or without capital.
41:19 - Why Adam would start a podcast to keep adding value to others but still wouldn’t change a thing.
Connect with Adam
Check out Real BlueSpruce’s Website
Follow Real BueSpruce’s Facebook Page
Contact Adam through his Email
Real Blue Spruce’s contact info
Episode Resources
Rich Dad Poor Dad by Robert T. Kiyosaki
Want to learn more?
Join Ryan on our next webinar to learn how you can start real estate investing with The Investor's Edge.
COMMENTS