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MB 135: How to Lead a Popular Multifamily Meetup & Raise $4.4M – With Adam Adams

So, you want to scale your multifamily business. What are your options? One strategy involves leading your own real estate investing meetup. But how do you get a significant number of people to attend that first meeting? Are there hacks to help you become popular FAST? And how do you follow up with the group when the time comes to raise money for a new opportunity? Adam Adams is a syndicator with BlueSpruce Holdings, a multifamily real estate investment firm focused on purchasing apartment buildings in emerging markets. He repositioned his first apartment community as a property manager in 2007 and went on to purchase his first multifamily property the same year. Adam has managed a number of single-family fix and flips, and today, he holds 100-plus multifamily rental doors. He is also the host of the Creative Real Estate Podcast and the organizer of Colorado’s most active real estate meetup group. Today, Adam joins me to discuss the recession’s impact on his multifamily career and his return to real estate in 2015. Adam walks us through his transition from single family remote fix and flips to apartment buildings, offering advice to aspiring multifamily investors around aligning with an experienced operator and ‘wearing one hat.’ Listen in for insight on the benefits of leading your own real estate meetup group and learn how Adam has leveraged meetups to raise $4.4M and become a community leader in the space!

Key Takeaways

Adam’s background in real estate
  • Dad multifamily, storage unit investor
  • Worked as property manager in college
  • Bought triplex in 2008 but hit by crash
  • Return to real estate investing in 2015
The recession’s impact on Adam
  • Less and less work for handyman company
  • Tenant-employees couldn’t pay rent
  • Deed in lieu on triplex property
Adam’s return to real estate investing
  • Live online auction (tax deeds)
  • Fix and flip remotely
Why Adam transitioned to multifamily
  • Competition at tax deed auctions
  • Single family ‘like a paycheck’
Adam’s path to multifamily
  • Bought five-plex (owner financing)
  • Two-, four- and five-plex first
  • Syndication of larger properties
The major surprises of syndication
  • Utility deposit, pre-paid insurance
  • $40-$100K in cost up front
Adam’s approach to building credibility
  • Start with smaller property (16-plex)
  • Qualify for loan on own, raise $300K
Adam’s advice for aspiring multifamily investors
  • ‘Wear one hat’ (e.g.: find deals, raise money)
  • Go in passively yourself
Why Adam created a real estate meetup
  • New to city, desire to build network
  • Lunch group to draw active investors
  • Opportunity to position as leader
How Adam has benefitted from the meetup
  • $4.4M raised through group
  • Put on map as community leader
Adam’s hacks for creating a successful meetup
  • Ask other popular group leaders to speak
  • Message active followers with invitation
The format of Adam’s meetup
  • Network and guest speaker
  • Attendees purchase lunch
Adam’s follow-up mechanism for raising money
  • Constant Contact email with new deal
  • Call those who watch webinar
  • PPM and deal package if interested
Adam’s insight on scaling your business
  • Offer more value in space
  • Podcast, meetup or share on social

Connect with Adam

Real Blue Spruce The Creative Real Estate Podcast Denver Apartment Network Real Estate Lunch Club Text MEETUP to 555 888


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