UnYielded: Thriving No Matter What

Persistence to Go from a $100 Piece of Land to $100 Million Investment Firm - Adam Adams

June 25, 2020 Bobbi Kahler Season 1 Episode 3
UnYielded: Thriving No Matter What
Persistence to Go from a $100 Piece of Land to $100 Million Investment Firm - Adam Adams
Chapters
UnYielded: Thriving No Matter What
Persistence to Go from a $100 Piece of Land to $100 Million Investment Firm - Adam Adams
Jun 25, 2020 Season 1 Episode 3
Bobbi Kahler

In 2005, Adam Adams bought a small piece of land for $100 to start a part-time investing business. That turned into a passion for creative real estate and entrepreneurial ventures worth $100 million in 2020. Adam discusses resilience and determination in the face of the many challenges he faced over the years and how he remained relentless to make his dreams come true.

Show Notes Transcript

In 2005, Adam Adams bought a small piece of land for $100 to start a part-time investing business. That turned into a passion for creative real estate and entrepreneurial ventures worth $100 million in 2020. Adam discusses resilience and determination in the face of the many challenges he faced over the years and how he remained relentless to make his dreams come true.

Adam Adams Show Notes

Contact Adam Adams

https://realbluespruce.com/

https://www.raisingmoneycoach.com

https://www.raisingmoneysummit.com


Bobbi's Takeaways from the Episode

I hope you enjoyed that interview with Adam as promised, here are my nine takeaways. 

1. If you were thinking about business or real estate as a new path, going either full time or part time can work for you. You just have to figure out what makes the most sense for you based on where you are.

2. When a mistake happens, you have to take full responsibility for it, even if it hurts, even if it costs you money, otherwise it can destroy your reputation and reputation is key.

3. When you're doing a business or a project, you have to keep learning from others. Your partners, your vendors, your service providers, what do they expect from you? Because when conditions change. Their demands may change, and that could surprise you. So keep asking questions, keep learning from them so that you can always be preparing and managing for risks and surprises.

4. When you accept a job or a task, finish it, always. 

5. Persistence and determination give you endless potential. 

6. This is the Calvin Coolidge quote that neither one of us could completely place in the moment. But here it is 

Nothing in this world can take the place of persistence. Talent will not. Nothing is more common than unsuccessful men with talent. Genius will not. Unrewarded genius is almost a proverb. Education will not. The world is full of educated derelicts. Persistence and determination alone are omnipotent. 

And again, that was by Calvin Coolidge.

7. I heard a mindset theme and it was this: if someone else can do it, then why can't I. Think about how incredibly powerful that mindset is. When I think of something like this, the person that comes to mind for me is Roger Banister.

Roger Bannister was the first man to run a four minute mile. And when he did that, it was considered impossible. More than that at the time, it was speculated that if someone actually ran a four minute mile, it would probably be fatal. So for years and years, decades, and decades and decades, that's what people pursued the four minute mile. Then he did it.

And when he did it, of course, that was a new world record. So how long do you think that world record lasted? Now, keep in mind. This had been something that people had been pursuing for decades. His world record lasted for 46 days, 46 days until someone else broke it. And now of course, it's considered the gold standard and running and, and it's been broken many, many times, and I think it was broken because it was no longer impossible. Someone had proved that it was possible. 

8. You only need one person to say yes. Think of how many folks Adam called to see if he could manage their property and how many of them said no, but it only took one to say yes to give him the opportunity to pursue his dream.

9. Business's hard. Don't quit too early. Don't expect to succeed without challenge. Think of challenges as your friend. What can you learn from it? But the big thing is don't quit because you might be just shy of the end zone. Again, these were just my takeaways. I'd love for you to share with me what your takeaways were. If you found this podcast helpful, please consider subscribing as well as leaving a review below.


Full Transcript

UnYielded: Thriving No Matter What Podcast Introduction

Bobbi Kahler: Welcome to UnYielded: Thriving No Matter What. This podcast is for those who are committed to thriving, no matter where they are on that journey. And I say journey because thriving is not about achievement. It's not a destination. It is about engagement. My name is Bobbi Kahler and I'm your host. And I'm thrilled to be on this journey with you.

[00:00:29] I mentioned that it's a journey and you might find yourself anywhere along that path. You may be just starting out. You may be moving up within an organization. You might be an entrepreneur, a business owner, a sales person, or self employed, or you may be that person who feels like there's something calling to you and it's time for a change.

[00:00:50] My mission is to provide stories that inspire us so that when those moments of doubt darken our doorway, we will choose to persist and will also provide practical skills, perspectives, and ideas that will help us create the habits of thriving and flourishing 

[00:01:07] We want to create them as habits so we don't even have to think about them at a point. They just become part of who we are.

[00:01:15] This is about providing hope, knowledge, and assurance that we can all be more fulfilled and successful if we choose. So let's dive in to today's episode.


Introduction to Adam Adams

[00:01:38] Today's guest definitely believes in the power of persistence. He's lived it. He has built a real estate empire from a $100 investment that he could barely afford to make. He has been told no many times along that journey, but he never let that discourage him. He's a serial entrepreneur, a successful podcaster and a successful investor.

[00:02:02] A few highlights include he has earned the prestigious title of master investor by Think Realty Magazine, due to his efforts to educate and inspire other investors. He's a three time hall of fame winner from Real Estate Mentor for his successes in multifamily, syndications, and Meetup.com recognized him as one of the top six meetup organizers in the world.  We begin by talking about how he got his start in real estate and some of the challenges that he faced along the way. Then we turn our attention to some of his personal traits, habits, and mindsets that he had to draw upon to continue to move towards his goals. By the way, if you are interested in learning more about real estate, there are some links in the show notes that will help you learn more.

[00:02:52] At the end of the interview, I will share my nine takeaways that I had from the conversation. I hope you make some notes, cause maybe you'll hear additional ones that I missed. With that, I'm so pleased to introduce my guest, Adam Adams.

Bobbi Kahler Interviews Adam Adams

[00:03:08] Adam, thanks for joining me. 

[00:03:09] Adam Adams: Thank you for having me. I'm excited.

[00:03:11] Bobbi Kahler: Absolutely. Well, Hey, I know that you're super busy. I also know that you have a really great story of success, and I've got to see part of that journey. And I think from the outside, it could easily look like it happened really fast , and all that kind of stuff.

[00:03:26]But knowing you just a little bit, I know the hustle and the work that's gone into it. So, but before we get to your story of success and it's in, I would say the real estate investing bucket, is that how you kind of categorize it? 

[00:03:40] Adam Adams: Yeah, man, I like that question. Entrepreneurship, for sure. I like to try little bit of things, different things, but, my, my biggest, most profitable company is apartment investing.

[00:03:50] So yeah. 

[00:03:51] Bobbi Kahler: Okay. All right. So before we get to that, I'm just kind of curious, what were you doing for 

[00:03:57] that? 

[00:03:59] Adam Adams: Oh, good question. I've only done really three major things in my life. I've only really done construction, on all ends of it. I grew up, my stepdad is a contractor, a general contractor and a real estate investor.

[00:04:13] So we used to, we used to run wires and put up walls and frame and stuff like that for different rentals that we owned. So construction, I even, I had a really awesome handyman company there for three years, right until I lost it during the crash. The second thing that I've done, a lot of his restaurants, I remember being part of my dad's landscaping company from the time I was eight years old until I was 15.

[00:04:43] And getting heat stroke a lot. And I remember I was, I was finally 15. I was like, I can go work inside. And so I started working at Burger King, so I went from Burger King to bartending. So I've done pretty much everything in the restaurants. And then the only other thing that I've ever done is real estate investing.

[00:05:00] Bobbi Kahler: Yeah. Wow. Okay. So you were kind of exposed to it a little bit through, through your stepdad then with the real estate and rentals and stuff. 

[00:05:09] Adam Adams: Exactly. Yeah. I collect rent for the first time when I was about eight or nine years old and I started owning real estate 15 years ago, so yeah.

[00:05:20] Bobbi Kahler: Wow.  Okay. 

[00:05:21] So was that part of why you made the switch into the real estate world? 

[00:05:25] Adam Adams: The main reason why is during college my stepdad bought me a piece of land. Then later, by the way, his accountant made me pay a hundred bucks for it, but I got land. I technically bought it. for a hundred bucks.

[00:05:40]I was thinking maybe when I was really old and, and a boring person, maybe I want to get into investing. Cause my stepdad, he, he crammed it down my throat. Like he was so into this thing, and it was so important to him and he really wanted me to learn. And, you know, I was rolling my eyes from the year I was eight years old, all the way to the time I was in college. And he finally just as like, is this kid never going to get it? And so he just bought me a piece of land, gave it to me for Christmas, then made me pay for it. and so. That was why I got involved. Like, I, I, I didn't really have a choice. but that hundred bucks by the way, was not easy to come by when a full time student and a, and a bartender, working just, I was doing 18 credits and bartending just when I, when I could possibly do some work and barely making books, barely making my rent. And all of a sudden he was like, hey, by the way, you have to pay me a hundred dollars for that piece of land. And I was like, dad, what kind of Christmas present of this? But that's how I got involved. When I sold the land, though. A couple years later, I made a ton of money more than I had ever made in a whole year.

[00:06:53] And I was just like, that was so easy. So, so that's when I was like, I have to do this. So I started doing, becoming an apartment investor while I was in college. And, never used my degree. I've only, I've only been an apartment investor since. 

[00:07:08] Bobbi Kahler: Wow. I was curious, what was your degree? 

[00:07:11]Adam Adams: Music education. I was going to be a junior high band director. I started composing music when I was very young. I was in junior high. It was the biggest passion that I had, music. I loved it. It changed my whole brain. It made me, be able to focus better. And, I was like, I need to share this with the world. but, you know, real estate investing seemed.

[00:07:34] Easier to make money. I, I didn't, I wouldn't just have the summers off. I would have whenever I wanted off. So, as a time that I graduated, I've only been focusing, on real estate. 

[00:07:46] Bobbi Kahler: Wow. That's cool. So do you do anything with music anymore or not at all. 

[00:07:51]Adam Adams: Not so much, like I've been thinking a lot about just joining a local orchestra and playing tuba in a, in an orchestra or something like that.

[00:08:01] But I own a lot of instruments like clarinet and trumpet and baritone and tuba and piano and guitar and stuff like that. Harmonica. I own them all. I can play them all, but I don't focus on it very often. And, and the last time I wrote music was when I started, I launched a brand new podcast. It's called the Apartment Investing Show.

[00:08:25] So if, if your listeners ever go and check out the Apartment Investing Show, I wrote all of the music, I wrote 30 different versions, 30 different versions of the same song. And some of them had like EDM style. It was really fun. And I spent about a week writing these 30 different versions of the same tune for my intro, for my outro.

[00:08:48]So if you ever listened to that, like that, that was my last composition. Yeah. 

[00:08:54] Bobbi Kahler: Wow. That is so cool. 

[00:08:57] Adam Adams: Yeah. 

[00:08:57] Bobbi Kahler: That's awesome. I mean, composing music that that's hard, you know, and I am not musically gifted now. You know, Rick, I mean, he's a classical guitarist. That was one of his degrees.

[00:09:07] He was an engineer and then music was the two degrees that he got.

[00:09:10]Adam Adams:  Awesome. I knew he was an engineer. I didn't know. He had a degree in music. That's so cool. We have another thing in common. I think. We need to get together. I, yeah, that's awesome.

[00:09:20] Bobbi Kahler: I think you said it was 15 years ago, Adam, when?

[00:09:23] Adam Adams: Yeah. Yeah. 

[00:09:24] Bobbi Kahler: Okay. How's it worked out. 

[00:09:26] Adam Adams: Yeah. There now there's been so many ups and so many downs. so I don't want to paint a picture that it wasn't a bumpy road or it was, it was all easy. Certainly anyone who goes all in to anything in business. And to me, real estate investing must be treated as a business if you want to succeed.

[00:09:46] So I just want to let people know it's not just super, super easy. It doesn't just come to you. You don't retire after one deal. I'm still working hard on growing it. I'm still working on that. So, it's not a get rich quick. It's not super duper easy, and going full time while there's tons of benefits.

[00:10:07] There's also benefits of having a full time job and doing real estate on the side part time. So, let me just put that out, but where I am now, I, I. I have a company that we help people launch top podcasts. So we focus a lot on, on podcasting. And then I have a company that just helps people get virtual assistants.

[00:10:26]Both of those are pretty much automated. I just basically own them. And then the third one is what we do is we, we manage apartments. So yes. Where are we right now? we used to have 13 people working for us, but during COVID where we were recording during COVID and you know, the riots and. economy kind of crashing there's some uncertainty. We don't have as big of a team.

[00:10:51]So there's four of us full time and, but there used to be 13 full time, four full time and one part time and five virtual assistants helping, helping us grow the company. There's ups, there's downs, there's challenges, and we are looking to grow. However, just during COVID we don't, we don't know how it's going to look.

[00:11:12] We're not sure if we should be putting investor passive investor money into the deal yet. It might work out, but we don't, we don't that on mights. We want a sure things. So we're just waiting a few more months, at least, and then we're going to relook at the market, but for people that are like looking to get into apartments, There's two ways to do it.

[00:11:33] There's one way where you're completely passive and making residual income and not having to work for it. And, and that's when you're an investor, like you would invest in Coca-Cola, and the other way is you actually have to manage and operate this, but you've got to do it like a business. People think, "Oh, Oh, that'd be easy. Oh, I'll just hire a property management company."

[00:11:55] It sounds like it's that easy, but it takes a whole team and, and you're wearing a lot of hats and you have a fiduciary responsibility to a lot of investors. And so if you're managing it, it's not passive income. It's residual income. Certainly it keeps coming, but it only keeps coming if you keep managing that property the right way.

[00:12:18] Bobbi Kahler: Right. 

[00:12:19] I know that you mentioned some of the ups and downs and challenges, any particular challenge that stands out like, wow, that, that was a surprise. 

[00:12:28] Adam Adams: So many in the beginning, there was more, but we even, There's I mean, COVID was a surprise. Certainly. We actually got out of a deal, during, during the beginning of COVID we were like, we cannot close on this deal and we are raised was $6 .2 million.

[00:12:47]All of the money that was in the bank. We hand wrote checks. Cause we were like, we're not going to pay a wire fees to get all of this back to all of the investors. My partner, DJ wrote the checks and got carpal tunnel writing millions of dollars to our past investors, but we decided not to close it and that we actually lost a ton of money.

[00:13:07] So like what that sucks for us, but like we had to do that because we have a responsibility that if we're putting $6 million of other people's money into a deal, like we have to be sure. And we weren't sure. And we were like, we can preserve your capital, but we still had to lose quite a bit of money. We lost a ton of money on, on exiting the deal. So that was a surprise.

[00:13:34] Bobbi Kahler: Very interesting challenges. And as I'm thinking about it from the standpoint of the whole entrepreneur bucket, how were you able to navigate these challenges? No matter what they were. 

[00:13:44]Adam Adams: There's two stories that, that have kind of shaped me to be that way.

[00:13:49]The first one was the earliest one around the time. right before I collected rent for the first time, I was like eight or nine years old. Right around that time, it was, I was maybe six ish. I started working for my stepdad at a dollar per hour watering trees. So, so he he's got all types of different real estate.

[00:14:09] We had self storage units. We had all these kinds of stuff, but you get really good tax benefits by the way, with agriculture. So he, we had a tree farm and thousands of trees. And we had a couple of very long hoses and I was about six years old, and I used to water those trees every single day. I'd water, the trees, water, the trees, water, the trees.

[00:14:28] And I hated the hot. I remember I told you when I was first starting, I was like, uh,uh, I'm going to Burger King. Cause then I can be working, but I can be in the air conditioning. But I was when I was about five, six, seven ish, years old. I remember I was watering these trees and I'm making about. Four bucks a day.

[00:14:45] I'd be out there for obviously four hours. And, one day I came home after about an hour or two. It was July. It was incredibly hot. And my dad was like, you're already done? And I was like, oh no. No, it was just really hot. And, and I just, I can't, I couldn't take it. And I already made two bucks. So I'm, I'm fine.

[00:15:06] I don't need, I was thinking that I was doing this just to kind of help him out. And, and even if I did half of it, it would still help him out because then he would only have to do the other half, but he reamed me. He was like, Adam, if you start a job, you have to finish it. And I remember like how deep that felt, and I never, ever, ever started another job without following through since that day. The other one was when I was in band in junior high, myself, us playing the tuba, our band director made us recite these quotes. And so we memorize this quote by Calvin Coolidge and, and it's a really long one. So I'll spare you the whole thing. The major part is that which we persist in doing becomes easier to do.

[00:15:51] And it goes in and says, persistence and determination are omnipotent, and I'm choking up right now. I'm actually like choking up, but persistence and determination give you endless potential. And I just remember saying like, okay. I'll always, I'll always just never quit. And so, because of these two experiences, I've been just naturally, not, maybe not naturally, but learned but relentless.

[00:16:20] And I've always thought, you know, if I start a job, I just have to follow through. And if I just keep going, then I could accomplish anything. Anything that I ever want as hard as it is, if somebody else was able to do it, why am I any different? I should be able to do it too. And so like, there's been tons of times when I was getting knocked down.

[00:16:43] I remember when I sold, when I sold that land in 2007, made a big paycheck. I was like, I got to do this. And how, how what's my first step. And I was like, I got to, I have to become a property manager. I have to, that's the thing that I got to do. Cause I've got to learn how to manage these things. So in 2007, I mean, it wasn't a perfect sales pitch by any means.

[00:17:03] If I redid this, it would be better, but I was calling everybody, Hey, I've never managed property. What I want to do is I want to live at your property completely for free, and I want to be your property manager so I can learn. So that one day I can be, become a real estate investor, like a big wig. And I kept getting no.

[00:17:21] No, no, no, no, no, because it wasn't a very good sales pitch, but finally, because I was still relentless, Reed Quinn took me under his wing Reed Quinn said, yeah, I'll have you. So I managed his 18 Plex. His fourplex in his condo made him over a million dollars in just one year. And because he sold his 18 plex at an extra million dollars.

[00:17:47] And, and that would have never happened if, if I tried, if I called five people and all five said no, and I was just any normal person, it was like, okay, well, this isn't working. I'm going to quit. I just kept doing it and kept getting no. And I just kept thinking, like when I was watering those plants, if I start something I have to finish.

[00:18:08] There's gotta be a way; someone's going to say yes. so I just kept going and that's how I deal with life now. Like when I first got into syndication, et cetera, it's, it's, it all stems from those two stories in junior high. And, and when I was about seven ish, years old, 

[00:18:25] Bobbi Kahler: Yeah. There there's so much good stuff in there.

[00:18:28] And by the way, that Coolidge quote, that's one of my favorites. I actually have it framed. It's not in the room I'm in right now, so I can't read it, but, but that quote meant so much to me. And, and I've had that. Oh my gosh. When I first started my business in 2000, I put it into a frame and it, and it's always been right there because I think there's so much to it.

[00:18:48] And it reminds me , I was a freshmen in high school, Adam and I was in history and I loved history and our teacher was coach Ham and he walked into the classroom one day and he wrote on the board and this was what I remember the most. It was a quote, I don't know who said it, but it was. 

[00:19:04] On the plains of hesitation lie the bleached bones of millions who on the verge of victory, paused to rest and while resting died.

[00:19:15] And, Oh my God, I wrote that thing down. Cause it just goes to, you gotta keep going. You don't know how close you are. 

[00:19:23] Adam Adams: True. So true. So true. 

[00:19:26] Bobbi Kahler: So I love those two stories. The other piece of it, like what stood out to me when you were telling the story about calling all those people and getting those nos.

[00:19:33]They can be discouraging. And when I first started writing, this was back in 2000, I remember I read this article and it said, Hey, if you're getting rejected, it means you're in the game. And as long as you're in the game, you keep going. But the other thing that stands out to me about that one, Adam, is you had to have the courage to pick up the phone for the first time.  And however, other many times, I mean, it goes to just like, just getting started, do something with it. 

[00:19:59] Adam Adams: Yeah, exactly. 

[00:20:01] Bobbi Kahler: So the other thing I heard your example with, the deal that you had to say no to recently with COVID was the integrity, right? It's like, well, that's not who I am. I, if you have to write those checks and it's painful, but it goes to kind of your reputation, who you are as a person, right.

[00:20:19] Adam Adams: Yeah, for sure. And it's not just that, like it is that absolutely 100%, we all should strive to have the highest amount of integrity in everything that we do, regardless of people are looking or not. But there is a second level layer on that. That is also can be a selfish layer. That's important to point out.

[00:20:42] I believe that this syndication business is 30, 40 year business. It's, it's the business that I'm going to do until I want to become completely retired. I want to grow and grow and grow this portfolio. And, being an influencer, having a podcast hosting events every year in October, big ones, all of that, like.

[00:21:05] People look up to me, they respect me. They, they, they follow me and they look to me for leadership. And if I made one mistake, if I make one quick mistake, because I want to save that $515,000 that we lost. If I'm like, Oh, this is a half a million bucks. Can't make a mistake on that. You know, if I made a mistake where I thought of me first and, and put the investors last and they lost even a dollar, that would be a story that would, would go out in front of everybody for a long time. Right. And, and nobody would ever trust me again. So it's, it's an while I want to say we have integrity. We believe integrity is important. A lot of it had to do with integrity. There was also this underlying, like, if, if you want to keep doing this for a long time, you have to never make a mistake.

[00:21:57] Cause those types of words or stories, they travel super fast and they can destroy someone like me. So it's also really important for the listener to think, yes, I have integrity, but also like what does this do to my business? If I make this selfish mistake, 

[00:22:18] Bobbi Kahler: Especially when it's a mistake of integrity, right?

[00:22:21] Adam Adams: It's unforgivable 

[00:22:23]Bobbi Kahler: And you're right. People remember it, they, they pass that along and it can be a major derailleur. 

[00:22:29] Adam Adams: Absolutely. Yes. . 

[00:22:30] Bobbi Kahler: And now you alluded to it, you have an event, is it every year? Tell me about what's going on in that world for you. 

[00:22:36] Adam Adams: Yeah. So we're coming up on the fourth annual Raising Money Summit.

[00:22:43] What we do at the Raising Money Summit, it's a three day conference and it's very hands on, very much learning. The first day we focus a hundred percent on just how do you get in front of investors and get them onto your passive investor list? What is the way that I can get people to know who I am and want to sign up for the list?

[00:23:09] So we do all of the branding, all of the marketing, all of the lead magnet stuff, everything you have to do to be able to build a list . Then on day two, we spend the whole day focusing a hundred percent on. Once you have all these people on your list, what are the processes? What are the websites?

[00:23:28] What are the tools? What are the, what's the software that you need in order to manage the investor list? What do you need to do every day to manage the investor list? To cultivate them like watering an apple tree, for instance, like you plant an apple tree and now you got to water it every day. So that one day you can pick apples whenever you want.

[00:23:50] That's what day two is, how do you manage the list? How do you cultivate the list? How do you prune your tree? Day three is all completely on how do you call the capital? Like, what is the psychology that you have to be doing? How do you have to feel about the deal? What questions are the investors going to be asking, how do you run a webinar?

[00:24:10] How do you get people onto the webinar? All of the things that it takes to actually call for the capital where the money goes when you're closing on deals. So, we are very proud of it. We've, we've been growing a lot. We had 600 and something people last year. And, it's been a, it's just been really fun to host that event and add that value to other people that are trying to raise a lot of private equity.

[00:24:35] Bobbi Kahler: Yeah. Well, and I think Adam too, just knowing you a little bit and what you said earlier, it's, it's a great way to learn from people who've been there. So that maybe some of the curve balls you mentioned earlier, we don't have to be surprised by them ? So I love that. And I know you also have the Apartment Investing Show.

[00:24:51] Do you have any other podcasts? 

[00:24:54]Adam Adams: I've I have been hosting the Creative Real Estate Podcast for about three years. But I ended up selling it. I was in a mastermind and I recommend everyone listening who's looking to grow that they join some type of mastermind to cause you're around some really good people.

[00:25:15] So I was in this mastermind and I, all I was saying was like, man, I'm not sure if the Creative Real Estate Podcast really helps me raise the money that I'm looking for for my deals. I'm not sure if it helps me attract the perfect client that I should be working with for consulting. And, I was like, what do I do with it?

[00:25:33] And people were like, how many downloads do you have? So all of a sudden I had three people offer me more than 50 grand. And I was just like, I guess I'm selling it. So I sold the, sold the podcast and, that transition  is over. You'll still hear me for the next, like nine months on the podcast, cause I had like a hundred plus episodes that were already ready to go. I bank a ton of episodes, just kind of to put them out slowly. So you'll still hear me on the show. It won't sound like anything changed, but I, I ended up selling it to Jason Lewis and, and he's doing really well with it. And I'm excited to see where that goes.

[00:26:11] But, I had a podcast, but I've kind of sold it. 

[00:26:15] Bobbi Kahler: Good for you. And also the whole thing about getting the insight like, Hey, you know what, maybe this isn't the right vehicle anymore. And making a new decision from that point. So a lot of good stuff, Adam, if someone wants to learn more about what you're doing or how to reach you, what's the best way.

[00:26:32] Adam Adams: Perfect. Good question. If they, if they want to come to the summit, can can just go to raisingmoneysummit.com. And if they're interested in attracting capital, they can go to raisingmoneycoach.com. 

[00:26:45] Bobbi Kahler: Very cool. Again, thank you. Before we wrap up any final words of, of wisdom. 

[00:26:52] Adam Adams: Sure a brief one is that whatever business you're doing, it's hard.

[00:26:57] And so in the very beginning, whether it's real estate investing or you're just starting your other brand new business, it's difficult. Most people do that three feet from gold thing. Most people try and try and try and they get to where it's about to hit that bell curve. And then they say to themselves, man, this is hard.

[00:27:15] They quit and they never get the full potential. So the persistence, the determination truly is omnipotent. So I, I just want to suggest, even though you start something like real estate and you start to doubt yourself, just push forward as long as you possibly can, because there's gonna come a day where you're a multimillionaire and you're like, holy cow, I'm so glad that I did that. 

[00:27:40] Bobbi Kahler: Right. I think that's a perfect way to end because often we do, we just stop a little bit short of the goal line. So I love that.  Adam, thank you once again for joining, this has been absolutely fabulous. And again, I know how busy you are, so I truly appreciate your time.

[00:27:55] Adam Adams: Thank you so much, Bobbi.

Bobbi Kahler's Takeaways from Interviewing Adam Adams

[00:27:59] Bobbi Kahler: I hope you enjoyed that interview with Adam as promised, here are my nine takeaways. 

[00:28:06] One, if you were thinking about business or real estate as a new path, going either full time or part time can work for you. You just have to figure out what makes the most sense for you based on where you are.

[00:28:18] Two. When a mistake happens, you have to take full responsibility for it, even if it hurts, even if it costs you money, otherwise it can destroy your reputation and reputation is key.

[00:28:33] Three. When you're doing a business or a project, you have to keep learning from others. Your partners, your vendors, your service providers, what do they expect from you? Because when conditions change. Their demands may change, and that could surprise you. So keep asking questions, keep learning from them so that you can always be preparing and managing for risks and surprises.

[00:28:57] Four when you accept a job or a task, finish it, always. 

[00:29:05] Five persistence and determination give you endless potential. 

[00:29:12] Number six. This is the Calvin Coolidge quote that neither one of us could completely place in the moment. But here it is 

[00:29:19] Nothing in this world can take the place of persistence. Talent will not. Nothing is more common than unsuccessful men with talent. Genius will not. Unrewarded genius is almost a proverb. Education will not. The world is full of educated derelicts. Persistence and determination alone are omnipotent. 

[00:29:44] And again, that was by Calvin Coolidge.

[00:29:47] Seven. I heard a mindset theme and it was this: if someone else can do it, then why can't I. Think about how incredibly powerful that mindset is. When I think of something like this, the person that comes to mind for me is Roger Banister.

[00:30:06] Roger Bannister was the first man to run a four minute mile. And when he did that, it was considered impossible. More than that at the time, it was speculated that if someone actually ran a four minute mile, it would probably be fatal. So for years and years, decades, and decades and decades, that's what people pursued the four minute mile. Then he did it.

[00:30:29] And when he did it, of course, that was a new world record. So how long do you think that world record lasted? Now, keep in mind. This had been something that people had been pursuing for decades. His world record lasted for 46 days, 46 days until someone else broke it. And now of course, it's considered the gold standard and running and, and it's been broken many, many times, and I think it was broken because it was no longer impossible. Someone had proved that it was possible. 

[00:31:04] Eight, you only need one person to say yes. Think of how many folks Adam called to see if he could manage their property and how many of them said no, but it only took one to say yes to give him the opportunity to pursue his dream.

[00:31:22] And nine. Business's hard. Don't quit too early. Don't expect to succeed without challenge. Think of challenges as your friend. What can you learn from it? But the big thing is don't quit because you might be just shy of the end zone. Again, these were just my takeaways. I'd love for you to share with me what your takeaways were. If you found this podcast helpful, please consider subscribing as well as leaving a review below.

[00:31:52] If you know someone who could benefit from the podcast and the message that we are spreading. I really hope that you'll tell them about it. Again, this has been the UnYielded Podcast, and I believe that thriving isn't a destination. It's a process. And this podcast is dedicated to helping you through that process.

[00:32:11] I believe that each of us  were created for a purpose because the world needs our unique gifts, our strengths and our talents. My life's work is to change the world for the better one life at a time. And I really hope you'll help me do that by sharing the word .