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

Resources

Rich Dad Poor Dad: What the Rich Teach Their Kids About Money That the Poor and Middle Class Do Not! by Robert T. Kiyosaki

Constant Contact

Trello

Financial Freedom with Real Estate Investing: The Blueprint to Quitting Your Job with Real Estate—Even Without Experience or Cash by Michael Blank

The Michael Blank Coaching Program

The Ultimate Guide to Buying Apartment Buildings with Private Money

The Michael Blank Deal Desk

Invest with Michael

Podcast Show Notes