He dives into real estate while working for a multi-million dollar company which he eventually sells. Now he and his wife educate and help others invest in multifamily real estate deals.
Key Points on How To Grow Wealth Through Multifamily Real Estate
- Adam built a long career in the automotive industry scaling up the family business.
- The company was very successful and was about to expand from 1 location to 3. However, Adam had an opportunity to sell the business and he did.
- He was always interested in real estate investing and had some experiences with fix and flips through his family. After selling his automotive company he started to focus on real estate.
- Adam soon realized that he enjoyed multifamily investing the most and decided to focus on that.
- He was learning about the industry by listening to podcasts and reading books. For a while, he didn’t even take courses or have mentors.
- Adam found all his deals through networking and he says that networking is the key to his business.
- Now he has both a business and a personal portfolio.
- He has 4 properties under contract now: 282 units in Cincinnati, 100 units in Florida, 185 units in Atlanta, and 185 units in Cleveland.
- In his personal portfolio, he has 5 duplexes 2 six plexes, and a ten plex.
- All his 4 deals are under regulation 506(c) so he is allowed to advertise the deals to investors. He prefers that over 506(b) because that would only allow him to advertise the brand and only to accredited investors. According to Adam, 506(c) is less risky.
- His role in his company’s team is asset management and operations. He makes sure that everyone is performing the way they should.
- He always wanted to be financially independent to have freedom. Because of that, he is now able to help others by coaching them on success.
- His future goals are to help 100 people reach their goals in 2020 and have a billion dollars under management in the next 3-5 years.
- Who is your success role model? His parents.
- What is your biggest success? His daily effort to push forward and to constantly be persistent.
- What does a typical day look like for you? He doesn’t have a typical day. He wakes up around 7:30-8:00 am, goes to the office and does a lot of emails, calls, and helps with the marketing.
- What’s your favorite quote? “If opportunity doesn’t knock, build a door.”
- What are your hobbies? He is a big electronics junkie and he loves doing projects around the house.
- What is the best business book you’ve read? Chris Voss – Never Split the Difference
- If there was one key piece of advice you could leave our listeners with about achieving success, what would it be? Be persistent!
About our Guest, Adam Beckstedt
Adam and his wife Shawnda are high school sweethearts who own and manage several multifamily and single-family homes within Indiana and Ohio. He has owned and managed a multi-million dollar company based on customer service and built strong relationships for nearly 2 decades before selling it at its peak in 2016 to focus on real estate.
Eager to help others in need, they spend their time giving advice to new investors and entrepreneurs looking for answers through local meet-ups, mentoring, and Adam has started his own YouTube channel to help others learn not only about real estate but investing in other avenues as well.