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Global Investors Podcast
GI49: Growing Your Sphere Of Influence Through Meetups & Social Media with Adam Adams
May 27, 2020
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Adam A. Adams, also known in the real estate community as Triple-A, has educated thousands of investors through real estate conferences, radio & podcast interviews, his coaching program, and his thriving Meetup group.

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Transcript:

Announcer:
Welcome to the Global Investors Podcast, a show that focuses on helping foreign investors enter the lucrative US real estate market. Host, Charles Carillo, combined decades of real estate investing experience with a professional background in international banking to interview experts in all areas of US real estate investing. Now here’s your host, Charles Carillo.

Charles:
Welcome to another episode of the Global Investors Podcast. I’m your host Charles Carillo. Today we have Adam Adams. In 2005, Adam started investing in real estate. Since then, Adam has partnered on 7 multifamily syndications with approximately 1,400 doors, valued over $100 million. He has educated thousands of investors through real estate conferences, his podcast “Creative Real Estate Podcast”, his coaching program, and his thriving Meetup group. Meetup.Com recognized him as one of the top 6 Meetup organizers in the world. So thank you so much for being on the show! .

Adam:
Thanks for having me. I really appreciate it. Good, good to be on.

Charles:
So what was your professional background that you had prior to starting your current business Blue Spruce ?

Adam:
Well, it originally started with construction. My dad’s a contractor, so I guess he’s my stepdad. I call him dad because he we’ve lived with him since I was about five years old. Okay. So at five I started driving the tractor. That’s, that’s where I was. I was watering plants, doing construction, driving the tractors around, learning how I wasn’t driving him alone until I was eight, but I can’t even imagine my 13 year old driving a tractor by himself right now. That would be crazy. But anyways, that’s where I really started on. And that was where, what I did the most, but I used to get heat stroke, heat, stroke. I would get really sick in the heat. And so it wasn’t until what eight, nine, ten years later when I was 15. And I said, I don’t have to work for my dad anymore. I don’t have to work outside anymore. So I got into restaurants when I was 15 years old, Burger King, and then whole bunch of other restaurants and did bartending and managed some high scale, high end restaurants. But the only things I’ve ever done my whole life was either real estate. I’ve always done real estate since 2005, but I’ve either been in construction or in restaurants. And the only reason I got into the restaurants was because it was the only thing that I knew it would only be indoors. It’s the only way to stay out of the heat from what I grew up. But that’s, that’s the, that’s what I did. I mean, I had, I owned a handyman company, the most successful handyman company in the state of Utah. Until they are probably brought in a franchise. But we, we used to do incredibly well. I had 13 employees and we were traveling everywhere and eventually I managed commercial construction for a large construction company just doing multimillion dollar construction. So, it’s either restaurants, or construction.

Charles:
So you grew up in real estate obviously, but how did you, why did you choose real estate as your investment fuel coal per se to go full time into it or start part time and then go full time into it.

Adam:
Originally getting into real estate, wasn’t a decision for me. It happened to me. I, and it happened to me more than it happened to other people who say it happened to them because my stepdad kept telling me I needed to do it. And I was like, yeah, when I’m old and boring, sure. I’ll do it like, but not right now. I’ve got so many other things that I want to do. I’m trying to date, I’m trying to get good grades in college. And my dad in 2005, he literally purchased a piece of property and just gave it to me. And then two weeks later he made me buy it because his CPA told him that it was the only way for him not to pay a whole bunch of taxes. So, it wasn’t a choice. It wasn’t a choice, but in 2005, when I finally owned a piece of America didn’t know what to do with it. So, two years later when they were developing the land around my land, I got some people offering to purchase it. And so that’s when I actually sold the land, made a profit, I was in college and that just that profit, and it wasn’t even huge. It wasn’t huge, it wasn’t a million dollars or anything, but it was more than I had ever made in a single year in my life, more than I had ever made in a single year. And I didn’t do any work for it. The only work that I did to it was drove there once and rode by motorcycle – Mto, dirt bike on it. And that was it. So I made all this money and that’s really what made me decide to like actually do it myself instead of making my dad buy it for me. So in 2007, I started managing property you know, read Robert Kiyosaki. And I decided that’s what I was going to do. So, you know, eight is when I bought my first apartment multifamily and you know, it hurt after a couple of years, it didn’t hurt right away. But in 2009, it started hurting in 2010. It started really hurting in 2011. I lost that property because I was bleeding cash because I brought in tenants that shouldn’t have been tenants at all. I didn’t vet them. I wasn’t doing it right. I wanted to help them you know, seemed like times were tough. So I brought them in and, and it really got back to me where I had to call up the lender. I’m a big proponent of creative real estate. And so this case, I had a private lender that, that bought the whole apartment. Right. And so I called him up and said, Hey, Tom, I don’t, I don’t, I can’t pay you. Like, I’m not going to be able to pay you this month on the first. And he’s like, Oh, well, here’s all these options. I said, I’ve been doing those options for the last two years. So in 2011, I finally gave the property back to him. I think it’s doing really well now, because if I would have held it in 2011, if I could have just held for another year or two life would have been a completely different, but I did lose that property. So that’s kind of like, that’s my little journey into getting into real estate. 2000,

Charles:
How many units was that? That property?

Adam:
Three, three. So I lived in one of the units and still remember the address on 400 South in Orem, Utah, right. Between BYU and which is Brigham young and, and, and Utah Valley university which at the time was called UVC. But I lived there, I house hacked it. And I was doing something that some people are doing with bigger units. Cause one of my, yeah, one of my units that I lived in had three. And so I actually, I had two other tenants in that one. And then I had tenants upstairs and tenants in the back.

Charles:
Nice. Yeah. That’s how I got into at the triplex in Oh six, which we still own, but it’s where I still am, but it’s, it was, that’s the same way we did it, where you got in there and you could cover, you know, you have part of your mortgage paid and stuff like that before there was ever the house hacking name that I knew about at that point. But

Adam:
For a while I was making 300 bucks. It was, it was a net of, I wasn’t paying rent for myself, but I was netting about 300 bucks a month until the crash. But it sounds like you didn’t lose yours. The one that you bought in 06, you didn’t lose yours. You must have gotten good, good tenants.

Charles:
Yeah. It’s yeah. It’s like, so I just remember that every time the economy got harder, we could refinance out. So it was like purchase at 6.5 and then like two years later went on the 5.5 and then two years later, we got, now it’s fixed at like four and a quarter, but it was something where you know, you were able to, it was just like, cause we are, we are managing them ourself. And I was actually, I was living there. And then my brother was living in one of the other units with a roommate roommate. So we had all rented out, but it was just one of those things where you just had a, I mean, you rent to the wrong person and just how you’re saying it and that small of a property it’s life or death, you don’t have , if you don’t have reserves, you know what I mean? But.

Adam:
Yeah, I think it’s super important for the listener to hear that his, after this other part, which is in 2008, nine, 10, 11. Well I lost my small multifamily. Large multifamily had less than a 1% default rate. So that’s why I focus now on bigger properties, 200 units or so, because they have, they’re much more likely to be just fine in the next downturn, which, I think we’re in the middle of.

Charles:
Yeah. So yeah, transitioning to that. So what assets do you currently folk, does your company currently focus on the classes? Obviously 200 plus units.

Adam:
Yeah. C class only. We do own a B class. It’s fine. It’s not as good as the C value add only you, usually like to have a very small budget, not a huge deep value add, not trying to change the entire thing, but we put in between 3000 at the minimum and maybe 8,000 at the most per unit. And so our budget on a 200 unit is maybe a million or so, like, it’s not huge. Right. And well, I guess it’s huge if you’ve never done that before, but per unit very manageable to be able to turn units that fast. So we only have been looking in Oklahoma city last crash, last correction, Oklahoma city did awesome. They did really well. The last time that rent went down, I think it was like, I don’t want to misspeak on the podcast or anything, but I think it was like 15% was, was the typical rent loss out there. But Oklahoma city lost 5%. Regardless if you look up the exact stats we’re a lot better than the, than the nationwide average. And that’s why we selected it because we knew that this was coming. We had a, really what, we didn’t know it was coming. We don’t have a crystal ball, but we certainly expected something like this to happen sometime soon didn’t know it was going to be called Corona thought it could be called bud light or something who knows. But yeah, we definitely were wanting to have a place that could could withstand a correction. We want to be in an asset class that can withstand a correction. So just apartment communities already cash flowing usually more than 80% occupied, although we’ve gone down to about 78. But usually 80% or more occupied cash flowing already buying it at about a five cap in a six, seven cap area and selling it at a, you know, six, seven cap. But I know that sounds confusing, but it’s because of all the value add that we do. And if it’s only 80% occupied and we can get it to 94%, we’re gonna make a lot of money on that. So that’s what we look for.

Charles:
So how has you, you, you touched on that Corona and COVID what, how’s your firm coping with it right now? What, I mean, obviously we haven’t seen any, anything really. I mean, this is the week right now talking on the 1st of April, but well, how are you guys coping with it or precautions you’re putting in place?

Adam:
Yeah. man, when is this, when is this going to air? I know we’re recording April 1st. What is it there? We’ll probably, we’ll probably go in live in around the 1st of May. Okay. the reason I ask is because some of my past investors, I still need to give them a phone call to we’re still working on that. There’s a lot of them we’ve have, it’s a $6 million raise. But by the time that this airs ever the cat will be out of the bag, but we are 99% sure. We’re exiting a large commercial property, 200 plus units, 10 plus million dollar purchase price, 6 million res. And we’ve got a lot of investors to call. And I think we’re going to be giving their money back rather than closing the deal right now. Because we feel like it’s not the right time. And now the sad part, the part that I’m really, really, really sucks is number one, my company stood to make a $330,000 acquisition fee. We needed that. We wanted that it would have been great to have a 330,000 to a split between the company and have a couple of the partners be able to, you know, have a year’s worth of most people’s typical income. So we were looking forward to that. And not only that, but you know that we have a hundred, I have $180,000 of that. My name is on like, not my, company’s not my partners, 180,000 of my money that I’m probably going to lose in earnest money. So I’m, I stand to be $510,000 poorer today than I was a couple of weeks ago. And, you know, we could have just closed it. We had the money raised, we had everything that we needed, we, and we could have closed it. And I could have had that 500, 10 extra thousand dollars in my pocket than I do now, but I’m 99%. Sure. We’re just, we’re canceling the contract, we’re exiting the contract and we’re probably going to lose out on all that money because it’s much better for me to lose 500 grand then for any of my passive investors to lose a dime. And so it’s, it was a tough call. And we’re pretty sure we’re doing it. And so we’re in the middle of that. So when you ask, how are we coping with COVID? How are you coping with what’s going on in the first quarter of, of 2020? We are not buying, we are being cautious. We’re waiting, we’re trying to hold dry powder. Although we don’t have a lot. Now we’re trying to hold the dry powder for the next deal and we’re waiting for it to go down. And I think it’s going to be smarter for us to buy at the bottom and make sure that passive investors never lose a dime because we’re in this business for 30 years. We’re not in this business for tomorrow. And so I might lose a little bit but it’s the right move because it it’s the right move for 30 years from now.

Charles:
Yeah. That’s, that’s quite the decision to make. And I mean, it is, it’s very difficult for whatever your presumptions were a month or two months ago to ring true in two weeks or three weeks or a month without anybody knowing. I still talk to some people and we’re in that same thing. We’ve switched to asset management for the next 90 days, maybe 280 days on our percent and figuring out where we are. I’m not putting out LOI cause no one has really any idea of how long it’s going to be until people come back, especially we’re in a lot of C class as well. Just like you show it something where we’re still just got off the phone with one of my property managers and just seeing how everything is, how rents are being collected, not just on our properties, but on their other ones in the area. So kind of getting an idea of what they’re actually seeing since we are in the first month that this is really taking hold. So, but yeah, I mean I want to switch over to see, cause you do a lot of marketing. You’re a huge master brand or for your company, for yourself, through your meetup groups, your podcast, social media conferences, the whole nine yards. How does someone go about growing their sphere of influence about whether on all different platforms, how do you suggest people when they come to you and ask about it?

Adam:
Okay. Great question. So this is what I do. I coach a mentor, other people to grow their brand and I was able to grow a brand really fast. And there’s three main components that that I believe made me grow this fast. And the reason why a lot of my clients are starting a top 1% podcasts within a couple of weeks, within two to four weeks of them launching, they already have, they’re already in the top 1% on iTunes. Right. And I, I know that there’s three things that have worked for me. And so great question. I think these three things will work for the listener. If the listeners thinking of themselves, I want to start a meetup or I want to start a social media or, or podcast or whatever, You know, what’s going to make me do it well. And it’s kind of counterintuitive and it almost sounds like I’m contradicting myself. When I say this, you have to focus on three things. But on each of the three, you need to focus on only that one thing. And now, so what I’m saying is I believe that a chair that you’re sitting on has to have at least three legs or you’re going to fall over, okay, so you get your stool and it can’t have two legs. It’s got to have at least three, three is where you start to get the value. So my three legs, the ones that gave me value, the ones that given my coaching clients value are a number one live events. Okay. When I say live events, it does not mean that you have to hold a conference. I host conferences. My conferences are in the top 5% of the world. I have 600 plus people, almost nobody in our space can do that. You don’t have to get that big. You don’t have to try to get that big. You don’t it being that big doesn’t make you successful. You can just host a dinner. Your live event could just be an investor dinner with one or two investors, three or four investors, five or six, whatever. You could do little workshops. You could do a little workshop on teaching people how to passively invest in real estate or something. And so you’re attracting your avatar. We call it an avatar. It’s your target client. And you, you want them to get value. So you teach them the thing they need to know. And so if you’re raising money for real estate, you’re your perfect avatar is a passive investor. So yeah, you can host dinners for them. You can host a workshop, you can host a conference. If you want to get that crazy or a meetup, I have a great meetup. Like I’ve been doing meetup for years. As you said in the beginning, I meet up HQ, flew me out to New York city to Manhattan. And I got to spend a couple of days with them showing them what it was that I do and why my meetup is being successful because they want to teach these things from their top organizers to other organizers. Right? So I can help you grow a meetup. Maybe on this podcast. We can give you some tips, but yeah, some type of live event, write it down. I need a live event. Even if it’s just hosting a dinner. Second part is I need a thought leadership platform, write it down. I need a platform. A YouTube could be a platform. Youtube would be a great platform. Or you could go and use get your own Facebook community. You’ve started your own Facebook group around your, your thing, your business, your brand, and you’re helping your avatar. You’re not helping people like you. You’re helping your avatar. People like the people you need to work with. Okay? So you need a leadership platform, a podcast like this one, the one that we’re listening to right now is a thought leadership platform for Charles. It’s a place where he is the thought leader and you, the listener look up to him and you see him rubbing shoulders with other greats and you see him asking the right questions. And that’s very important. Now you can do that with a Facebook group or a YouTube or a blog. Maybe you don’t want to be on camera. Just, you could just write a blog. That’s fine. It’s as long as you have that platform and the third leg, the third leg of this stool, because you need three legs not to fall too. You would definitely fall over the third leg. Is, is your own social media presence. What are people going to find when they search you? Are you active on either bigger pockets? Like like what’s his name? Joe Fairless. I shouldn’t forget his name. He’s a good friend, but Joe Fairless has been in the past very active on bigger pockets. It’s one of the ways that he grew his brand, Adam Adams is very active on Facebook. I don’t focus on Bigger Pockets at all, but my brand is also grown. You know other people have done this on Instagram or LinkedIn. And if your perfect avatar is younger and Tiktalk is going to work for that avatar, then only focus on Tiktalk. Don’t worry about all these other things. Don’t, don’t go to bigger pockets. Don’t go to Facebook. You don’t need to just focus on the one. So that’s really what I think has given me the most value, what I could obviously see that Joe Fairless has gotten he’s he’s focused on all three of these, right? He has, Joe has had a meetup since the beginning, when he first started out in Cincinnati, right. He also now hosts a conference annually with Ben Lapita so a good friend of mine. And so that’s what he’s doing in person. What is Joe Fairless doing? You know, for his thought leadership? No, he doesn’t worry about YouTube. He has a YouTube he’ll, he’ll randomly post some videos on YouTube, but he doesn’t focus on it. He focuses he’s all in hundred percent on his podcast. He makes a lot of money from just from sponsors on his podcast. That money just from sponsors on his podcast, allows him to live another day, no matter what happens with the economy. Right. So brilliant, brilliant strategy. Now, now you’ll ask is, is Joe Fairless doing something on social media? Yeah, he’s doing bigger pockets or he has been doing Bigger Pockets. He’s also started some other things. So when you incorporate all three of these, that’s when the magic happens. And I know I’ve been talking a lot about this and I don’t want you to start rolling your eyes or dozing off as a listener. So let me just share one last tip or trick a why it’s important to have all three. My social media is why my podcast is a top 1% podcast. My social media is why I flew to a meet up headquarters on their dime. It wasn’t, it wasn’t like I just started a meetup and the meetup just got big without social media. It wasn’t like I started a podcast and it got big without media. I needed my social media platform, my social media, my, my Facebook in order to show people the things that I was doing. So when you’re doing all three, they work in conjunction with each other. You have a podcast. So now your social media automatically has more credibility. You you have a podcast. So now all of a sudden your events are more noteworthy, because people say, well, this person’s this. And so now they’re going to go there. Or you host live events and that’s going to help your podcast listeners go from what they are now to paying clients or paying investors with your deals. So this is why it’s so critically important that when I have a client that comes to me and says, Adam, I want you to brand me, but that they’re trying to tell me, but I’m not going to do anything with social media. I’m like, well, then you’re screwed. You’re not going to go anywhere. I’m not going to coach you because you’re going to fail. You’re not going to get a top 1% podcast. I guarantee 100% money back that you get a top 1% podcast. If you don’t get a top 1% podcast, I give you your money back. And so if you’re not going to be on social media, I know you’re going to fail at this. And so it’s a waste of time to even help you. So it’s critical that you look at all these three pillars or these three legs of a stool.

Charles:
Interesting, also, and great. So when you’re working on social media, what, what tips do you in, do you incorporate into your strategy?

Adam:
Great. you know, I wasn’t actually prepared for that question, so I’m going to have to come right from, you know, nowhere, but let me try to share with you some things that really matter on social media that any listener can implement right away. The first thing is, if you’ve ever looked at somebody who, who does, who puts on their social media, nothing but business, you get turned off pretty quick. Yeah. It’ll inspire you the first time. You’ll be curious. The second time you’ll get you’ll start to think. I really liked this person the third time. And then after a while, you’re just like one trick pony nonstop, just trying to jam this down my throat. You don’t want to listen anymore. Even if you like the person you have already ignored their content. So step one with your social media presence, that is going to be critical is that you’re a well rounded human being. I remember I, I have my sweetheart and I, we were talking a couple of years ago and she was talking about how I was working a lot back then working a lot. And she’s like, that’s not interesting to me. That’s not interesting that you’re, you’re all about your work. You know, you’re, that’s, that’s what you’re focused on. That’s what you care about. And, and my own sweetheart, who I love and respect, and I hope we’re together forever was getting turned off by me because of it. Right? And so this is a good illustration of you being well rounded. Now you’re the listener, and you’re trying to see what you can do to get your social media presence out there. Talk about your kids. If you have ’em show pictures of the kids every now and again, not all the time. People will start rolling their eyes. If the only thing you do is that, you know, I, I was, I’m doing a fast, so I was doing a four day fast. And, and I posted about that a few times and that got new people into my circle, right? That got new people, wanting to comment, wanting to share their thoughts, feelings, their impressions. When I bought my new car, I posted the car when it got its, when it first crossed a thousand miles, I was like, Holy cow, it’s already at a thousand miles. So what I’m saying, and all I’m saying is be a well rounded person show. Talk about the things that matter to you, your sweetheart, your children, your if you play music, if you write music put all of that into your social media and incorporate it with the business stuff. I’m not saying don’t do business stuff on there. I’m just saying that you don’t have it. It’s not every single post needs to be business. So that’s rule one, rule one, just me kind of thinking automatically on this rule. Number one, be well rounded rule. Number two, your posts need to be engaging. Your posts must be engaging posts. And what I really mean by that is if Facebook’s, Facebook has an algorithm to it that if people comment or like the like it or share it, then they are more likely to start putting it in front of more of your audience. So they might start with 1%, then go to three and a half percent of your audience. If you start to get some, they’ll go to three and a half percent. And if it’s really getting a lot of traction, they’ll get it. They’re going to show it to about 10% of your audience. So remember that one, three and a half 10, they test it with 1%. They, then they go to the three and a half. And then if you’re still getting engagement, they go to 10%, but they’re not going to show it to every friend, unfortunately. So if you know that, then here’s some things that you can do to get engagement. Number one is if you’re telling people things they’re gonna, they’re going to get told and scroll past it, go to the next one. Then they’re going to get told and scroll past that and go to the next one. But if you’re asking people things, they’re going to stop scrolling and they’re going to start to want to answer that question. So some of my favorite posts, so my most effective posts are, Hey, I’m fasting for four days for the first time. And I have a massive headache. Does anybody know what’s going on? And people could not could not help themselves from being like, it’s your electrolytes, it’s your water levels. It’s your you need more salts. You know, it’s, don’t worry, let it pass because this is just you detoxing and, and all the poisons are coming back through your body again. But everybody had their own opinion and people even sometimes argue on stuff like that. So all of a sudden they say this, and then I want to respond with a question. So they’re already commenting and they’re saying something like, it’s your salt level. And then I’ll say, Oh, awesome. What kind of salt should I be using? How much should I use and get them to answer? The next person says, it’ll pass, don’t worry. And I say, would it be appropriate for me to take Tylenol during this? Or will that break my fast question mark? And now they have to keep engaging. Well, Facebook’s like, Holy moly. This post is keeping Adam on Facebook all day and it’s keeping 700. There was like 700 something comments. It’s keeping 700 people actively engaged on Facebook too. And that’s a good thing because we, our own investors. We owe our own advertisers as well. They haven’t PA they have their own investors and they have advertisers and they have a responsibility to do right by them. And so if you can make your post more engaging, stop telling people stuff. How about ask, get feedback, get advice. That’s going to start getting your social media to be placed in front of more and more people. So like right now, I mean, I haven’t talked to all of my passive investors about this deal and we’re not even a hundred percent sure that we’re leaving it. We’re only 99%. So on this deal at once, once we have the once we have the answer to it, this is probably what I’m going to do. Let’s just say we’re definitely out, which we probably are. We’re definitely out. And we just decided, now I’m going to make a post. I’m gonna make a post. And I’m just going to say, this is why I just lost out on 500, $10,000, or this is why I’m not buying apartments in 2020. Something like that. Here’s the reason why, because it stops the scroll. So even if I’m telling somebody something if it’s something that’s outlandish, if something farfetched, if it’s something like crazy, that just they’re like, wait, what if they, if they say, wait, what? That’s a good thing. So if I say, this is, this is how I just lost 510,000 after investing in real estate for the last 15 years, I just lost 510 grand. And now they’re like, wait, Adam just lost 510 after 15 years experience what’s going on. And then they read in, and then I give them that story that I gave your listeners a little bit earlier. And now they’re like, Oh, I understand why he did it. And I respect him for it. And so this is a good way to kind of get your message out remember hook, story, offer, hook, story, offer. So, yeah, first thing was what was the first thing? It was the, if you’re doing social media, you want to be well rounded. And the second big thing would be to make it engaging, but to make it engaging, use your hook, use your story, use your offer the offer. Isn’t it doesn’t have to be like buy this course or something. It could be, it could be like, Hey, I’m doing a webinar on COVID-19, I’m doing a webinar on COVID-19. And rather than like giving you the link already, you, you want it to be engaging. So you point down and you say, if you want, if the seats are limited, we can only fit a hundred people if you want. If you want to be in drop a comment below and I’ll, and I’ll try to get you the thing, right? So now they’re like, Oh man, I got to hurry and do this. And they post it. I got 500 and something registered for my last webinar. And I didn’t even put a dime toward advertising. It was just one quick Facebook post. Most people’s Facebook posts. Doesn’t get 500 people to look at it, but we got more than 500 registered. So that’s, that’s really what I, I want to share hook story, offer. If you want it to be engaging, either start with a question or start with a outlandish statement, like I’m not going to buy apartments in 2020. And the people are like, wait, you’re the apartment King Adam. Like, why wouldn’t you do that? And then so they have to read, and then you give the story that kind of illustrates the point. And then the offer might be just a call to action. And I put point down to the bottom and I just say comment below, that’s the offer comment below and I’ll get you this thing. So that’s kind of like the process that I think anyone could replicate to be have a stronger social media presence.

Charles:
Right? It’s it’s funny. Cause I saw that that year, year post on fasting and someone was telling me not to drink coffee. And I just, I remember, I don’t know why I remember that, that one comment that they had, but it’s completely true. How, I mean, it was, there were so much engagement in it, so it was crazy. It was a quite the post, the so with your social media, with your other leg of doing stuff with meetup, which obviously you’re, you’re fantastic at what, what, for someone that wants to start a successful meetup group, what are some of the tips tactics that one should employ to do so

Adam:
Yeah. Well, number one, you need to differentiate yourself from everyone else. That’s the most important part. So how to do that is really starting by doing your reconnaissance. Like you need to get into military mode and, and go and scan your competition. You know, research your competition, every other group, you want to find out things like what time of the day do they meet? What day of the week do they meet? How often during a month will they meet? How much does it cost to meet? Where do they meet? Do they meet at restaurants? Do they meet at conference centers? Do they meet at a beer, like a brewery? Do they meet hiking? You know, what are, what are the ones out there? Which ones are successful? Which ones aren’t, what do you think is making them successful? When was their last meetup? What was it called? What did they name it? You, so you gotta do a lot of work before you start it. Because if you’re, if you don’t do this work, you’re not going to be able to differentiate yourself. And if you can’t differentiate yourself, you will lose the game. You will be just another just another group that meets at six 30 at night on Tuesday nights. And it cost 200 for the year or 25 per time. You’ll be in that thing where it doesn’t matter what kind of real estate you’re in. You can come. And most of the people there are not doing deals. That’s the real case on the average meetup. So I just did some of your work for you. If you’re a, if you’re a real estate investor, I just did a lot of your work for you. You don’t want to meet at 6:30 at night. You don’t want to meet once a month. You don’t want to cost 25 for a day and 200 for a year because this is the stuff that is happening all the time. You don’t want to have a meetup. That’s anything real estate. It’s just, it’s been tried too many times. And that’s why most of those meetups don’t do very well. So if you want a really good tip on, on meetup, make sure you’re differentiating, yourself. You know, I guess they call it niching niche down or find a niche. And I liked that because you want to do something, no one else is doing. But once you do that, this is the most important part. So number one, niche, number two, advertise market. You gotta market it. You’ve got to brand it. And you got to be relentless about this. So now that you know that you’re the only, I was the only meetup meeting weekly, I was the only meetup meeting at lunch. I was the only meetup that was free. I was the only meetup that talked about creative real estate. Once I got that stuff, I started to write down, why would somebody meet every week versus every month? What would be the benefit? And then I realized it takes six times for you to start trusting people, to do business with them. And if you can do that in a faster period of time, you’re going to do business with other people in the room. So I came up with this idea now that I’ve made my meetup different. How can I share with people? The why behind it? How come we meet weekly and how can I have them buy into it? So I say something like the reason, the reason I decided that we have to meet weekly is because there’s a lot of meetups out there. And there’s a lot of people that aren’t, aren’t serious and they keep coming and they’ll fall off after a time or two, they’ll be going for two months and they’ll be like, I, this real estate, thing’s not working for me. And so that’s why I decided to go ahead and go weekly. It’s for you. And I pointed them, right? It’s for you. I wanted to go weekly for you because if it takes six times, that’s what the science tells us 6 to 15 times. But at least six times before you’ll ever do a deal with somebody before I ever trust somebody enough, well, I don’t want it to take you two months and then you fall off. Or even at best, I don’t want you to go to some meetup six months in a row and finally be able to do a deal. So with us, after just six weeks, a month and a half, you’re doing deals, you’re doing business. And then I go, and that’s why the people that come to this meetup keep coming back every single week because they know that blah, blah, blah, blah, blah. So I create a story that illustrates why we’re different. And I do that about why we, why we’re free instead of why we cost 200 per year or why we cost 10 grand to join the mastermind or 20 grand or whatever it is to join the mastermind versus a meetup out there because we get this quality of people or whatever. So you will always have to say, everybody else is like this and we’re different. And you want to market that, advertise it and be relentless about communicating that, not every now and again, every single week, every single time you have your people in your room, you’re going to tell them why this meetup is different, why they need to becoming, why they need to become weekly, what it’s going to do for them. When you can do those types of things, your meetup attendee is going to feel like they’re getting a ton of value by coming. And it was very simple for you to do those two things. And I’ve got six other things. If I’m allowed to give a free giveaway, I can give you something. Alright, because there’s actually six things. And we only really had time to go into two of them. There’s actually six things that, that changed my meetup and why meta HQ flew me out. And so I wrote a little article that can give you these six things. So the two that I gave you just now plus the other four is where you can take this. And they’re all as impactful as the first two, but you just taxed a meetup. It’s that easy text the word meetup to triple five, triple eight. It’s just five, five, five, eight, eight, eight. And if you text the word meetup, yes, you’ll get on my list. I’ll have your email address, but yeah, on, in your benefit you’re going to have these six things. And if you are going to start a meetup group, you’ll need those six things and to be able to make sure that you’re absolutely going to be impactful to the people that are attending. So, they keep coming back and they keep telling other people about your group.

Charles:
Yeah. Well, awesome. Yeah, that’s a, that’s a great thing for people that are interested in setting up a meetup to, to contact you and reach out. So how can our listeners, I’ll put all the, all these links and all the information with the text number in the show notes. So people can check into that, but how can listeners get in touch with you and your company to learn more.

New Speaker:
Best way would be text meetup to triple five, triple eight, and they’ll know about me. And that’ll be an easy way. I don’t want to give them too many calls to action. And that’s a good thing for you when you’re running a meetup, when you’re running your own podcast, when you’re on your social media, this is a really big deal to you to implement yourself. Only have one call to action. So when I come on here, if I talk about texts meetup to triple five, triple eight, it doesn’t benefit me to give you my website and my Twitter handle. And my, you know what I mean? So well, we’ll just take that as, as a lesson, if they do want to reach out to me, they’ll text meet up to triple five, triple eight.

Charles:
Yeah. That’s a good idea. Don’t overwhelm so well, thanks so much for being on the show, Adam. I really appreciate it. And looking forward to meeting up with you in the future.

Adam:
Thank you, brother.

Charles:
Thank you.

Charles:
Hi guys! It’s Charles from the Global Investors Podcast. I hope you enjoyed the show. If you’re interested in get involved with real estate, but you don’t know where to begin, set up a free 30-minute strategy call with me at schedulecharles.com. That’s schedulecharles.com. Thank you.

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About Adam A. Adams

Adam A. Adams, also known in the real estate community as Triple-A, has educated thousands of investors through real estate conferences, radio & podcast interviews, his coaching program, and his thriving Meetup group. Adam hosts the Creative Real Estate Podcast, a podcast listened to around the world, with hundreds of thousands of downloads. His efforts to educate and inspire other investors has earned him the prestigious title “Master Investor” by Think Realty magazine and he is also a three-time Hall of Fame winner from RE Mentor for his successes in multifamily syndications. Meetup.com recognized him as one of the top 6 MeetUp organizers in the world (2018).
In 2005, Adam took the plunge into part-time real estate investing, but it quickly became his full-time passion! Today Adam is partnered in 7 multifamily syndications with approximately 1,400 doors valued slightly over $100 million. His company, BlueSpruce Holdings, focuses on finding and managing apartment communities to allow passive investors diversification, cash flow, tax benefits, and freedom of time. Adam’s primary role in the company is to attract capital, successfully raising millions of dollars from private investors. He continues to grow his company’s brand as one of the top syndication teams in the United States.

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