Stop Thinking Small: The Real Way to Build Wealth with Multifamily Syndications | Adam Williams
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What was Adam Williams' childhood experience with real estate?
What's up, Science of Flipping podcast fam? I'm back with a very special guest. He is a business partner of mine, one of my best friends, a true real estate genius. He's been doing this for a little bit longer than I have. Started in 2004. He's flipped hundreds of homes and he has moved from the single family asset into apartments and is now flipping apartments himself. And I need to know what the hell he's up to. Adam Williams.
Hey, man. Thank you for having me. Matter of fact, you actually came out here to Scottsdale to do this, which is rare because usually I have to come to Miami to see you. So it's a treat to have you here, man.
Dude, this is phenomenal. I'm in your studio for all the watchers. I'm in his studio. If you're in Scottsdale, it's an incredible studio here. Listen, we've known each other a long time. Yeah. You've done a very good amount of single family assets and now you're moving yourself into the apartment space. You've done several already. You're a doer, which we're going to talk about because I think there's a difference between why you've reached success and why others maybe haven't. But talk to me about the general idea behind single family assets and apartments and why you've chosen to essentially move into a different direction.
Yeah. I mean, when I found this game, like I grew up around real estate. Right. My dad had a couple like single family rental homes. Not a lot. He was not like super successful in the game. But from being a tiny little kid, I remember he had a couple of rental homes, maybe three or four little shitty rental homes and a little five unit building that he had had since he was like a late teenager. He kind of got in the game early. And so I went in and I remember like helping him move furniture out and helping him go collect rents and all those things as a little kid. But it was very, very lower class, like D class type properties, right? Really like slumlord almost. Yeah. And so with that comes a very dirty and gross.
And like, I remember like moving a chair out of a place and cockroaches scattering anywhere as a kid. Right. And it's just freaks you out. So I was really turned off from real estate as a kid. And he kept telling me as I was a teenager and getting into my early twenties, you got to get into real estate. You got to get into real estate. I was always an entrepreneur. Yeah. But I was struggling trying to figure out like what business I could generate real income at. And my dad would always tell me, you got to get into real estate. You got to get into real estate. I was like, Dad, I don't want to deal with cockroaches and going at 2 a.m. to collect rent because that's the only time they have it and all the things.
But I was in my late 20s and I got invited over to a buddy's house for a Halloween party. And I pulled up to this house and it was the biggest house I'd ever seen. It like wrapped around the whole corner. It was like I was just like mind blown right in here. Like I was running a decent little marketing company at the time. But I walked in and met the kid who owned this house who was way younger than me, by the way. I was probably 26, 27.
Why are single-family rentals not effective for building wealth?
Kid was 18.
No way.
And I'm instantly like, what do you do? And how can I get involved? Right. And he goes on to tell me, you know, I own a mortgage company, but that's not how I make my money. I invest in real estate. So this thing just kept popping up. Right. And so I went to long story short, because that's a whole nother we could go on about this story for 45 minutes. But I went to meet him at his office the next week because that's what he told me to come do if I was serious about getting involved. and found out what he was doing was he was buying and flipping single-family homes. So that's how I got in the game. And this is when? This was in 2004. Dude, you're old. 2004. I am old. But I did very well with him. We struck a partnership.
We did 252 single-family residences in just under three years. But what I realized was about a year and a half into that, I'm like you, man. I don't want to do anything super small or take 100 years to get there.
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Chapters
7 chapters
1
What was Adam Williams' childhood experience with real estate?
0:00–2:38
2
Why are single-family rentals not effective for building wealth?
2:38–10:36
3
How did Adam transition from single-family homes to multifamily syndications?
10:36–14:04
4
What mindset is necessary for successful entrepreneurship?
14:04–18:03
5
How can multifamily syndications help investors scale their wealth?
18:03–20:40
6
What are the benefits of investing in multifamily properties?
20:40–31:19
7
How does Ellevest Capital support its investors?
31:19–36:03
Speakers
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