Hey hey alright alright welcome to the active duty passive income podcast. Today’s episode is going to be great. We’re going to introduce Adam Laver. He is our multi family guru. You’re going to get to know a little bit about him and he's going to give us some sneak peeks at what awesomeness is coming our way. So hang tight here we go.
Hey hey freedom fighters welcome to the active duty passive income podcast. The only place where military members, veterans and their families learn how to build wealth through real estate investing. I'm your host Mike Foster and I'm here to show you how to stop wasting your benefits. Now get off your ass, step up to the firing line and make ready for today's lesson. Shooter stand by.
Mike: Hey hey what's going on guys. How are you doing out there? Mike foster in the house with a very special guest and this one's a little closer to home. He is a teammate of mine here at ADPI. I am going to introduce you to Adam Laver. He is our multifamily investor guy guru right and he is going to explain a little bit about him. But he is in the Air Force. He’s a real estate investor and he is stationed in Japan. Adam what's going on man.
Adam: What's going on Mike? Thanks for having me out here. Happy to be here and hopefully we can have a good chat in some good education for everybody.
Mike: Yeah looking so forward to it and really really glad to introduce one of our team members with the company. Because right now we are all over the world literally. As we were recording this podcast we got one in Japan, we've got one in Ukraine, we got me I'm in the Middle East, we got one in California back at home. It’s pretty crazy we are all out here. But we're still making it happen and hey we're doing it. You know I'm really really excited that you even just being able to communicate right. Having the technology that we have to not only share the information, but to connect as a team, it's pretty dope.
Adam: It's pretty impressive to be able to do this from all over the world. but you know that's part of what we do, that's part of what keeps us agile, keeps us going and keeps this company actually staying on its toes and keeping everybody up to date is the fact that we have everybody all over. So it's a plus.
Mike: Yeah all right word. So tell us man. So obviously right you're in the Air Force. So why did you join the military to begin with?
Adam: Why did I join the military? Both my parents, my mom and my dad were both Air Force. My dad was a crew chief and my mom was a fuel systems specialist a long long time ago and I was raised in the military basically. I was raised in the Air Force. I knew from basically the womb that I was probably going to join the Air Force and that's what I did and so I mean I've been in for about 15 years now and all over the world multiple deployments, multiple countries, multiple everything times away from the wife and the kid and you know just I've really enjoyed it this far and I'm really looking forward to continuing it if that's what God has for me.
Mike: Awesome man. I know he's got big things in store for you. Because you're out here not only serving the country. But serving your service members as well. Which is unique. So what got you into real estate investing? Like at what point in your career did you decide hey you know this is the path I want to go.
Adam: So yeah before I got married I had zero knowledge on finances as a whole. I lived paycheck to paycheck and the negative like you know my bills are going to fall apart if I don't get my next paycheck. But I do know what a savings account was. I was like I don't need any of that, I don't need a savings account. I mean I get paid this money for a reason, it's guaranteed to come on the 1st and 15th and I was never worried about it.
Then I got out of the Air Force for a little while. I got married and my world changed a little bit trying to figure out what am I going to do now. I've been responsible for a wife who's also Air Force. So I mean now I've got some changes in my life and her family has been doing real estate for a little while. her mom owns a couple houses and her grandmother owns the house and we always talked about hey we should do this real estate thing and once I finally got it in my head, yeah I should.
After losing my money in the stock market and doing some other crazy things that I shouldn't have done and I was like you know what? This real estate thing I need to look at this and I dove head first, I did a lot of research and just that's what got me started with. It’s actually my wife and her family. So all downhill from there, join the ride.
Mike: Awesome awesome man. So not only are you military. But your wife is also military. So you're doing the whole dual military thing. That’s pretty intense.
Adam: Oh yeah. You know our last assignment work together and this assignment we finally got to live in the same house again. So it's kind of nice. But yeah one of us doesn't CDY, the other one is. So we're constantly back and forth.
Mike: Yeah amen and I trust me I know that one that hits home as well. My wife is also Navy and while I'm here you know in the UAE, she's out over in Norfolk out here on her ship. So I definitely understand. It’s just a little back and forth.
Adam: Never easy but it's always worth it.
Mike: It's always worth it. Amen to that that is for sure. Always worth it. so and it's going to be a whole lot more worth it you know having had that time apart and then coming together working as a team right through the real estate investing and building your wealth as a family.
Adam: Especially since you know I got it from her. So I know she's on board with it too. So it’s nice to be able to have that.
Mike: So that is definitely one thing too. if you're listening out there and your spouse or your partner is not on board with real estate investing and it's something that you're passionate about or you're learning about, you want to know more about it; please you know reach out to our community. We actually have a few members in within our Facebook group.
I remember a conversation that struck up about how to engage your significant other about real estate and ways to kind of get them on board. If they're already on board that's great right. If you're lucky. That is the golden goose. But if not I mean there are ways to do it and you just reach out. Because we have a whole bunch of resources out there in our community that will help you out with that. But yeah okay awesome.
So what are your personal goals with regards to real estate investing or I guess rather you and your wife's collective goals? What do you guys have in mind?
Adam: So my goals have fluctuated as I've gotten educated and where I've wanted to go. So now where they're sitting right now and this is going to be, I think my long-term goal where we're at. Before I retire between five and seven years depending on how long I decide to stay in, I want to have a thousand units. Thousand doors. So being the multifamily side, I don't want thousand houses, I want thousand doors and that started off as a hundred. But after reading grant card ones 10x your life book, it's the next book. So it's like you know what why make it a hundred. I mean I can get a couple partners and get an apartment building that is a hundred doors right now. Like let's step this out, I can make this a thousand.
Whether it's through purchasing all by myself or you know as a team and just owning them as a team or whether it's syndicating a deal. I want to have a thousand units by the time I retire and then four thousand units by the time I'm 50. So it was supposed to be one hundred and four hundred and I said you know what we can get beyond that. So thousand and a thousand and four thousand is where I want to be.
Mike: All right so you want to be a real estate mogul.
Adam: Oh yeah. I mean I want my kids to be involved in it. I want them to understand what it is. You know it doesn't mean they need to do it when they're out of high school. I just want them to understand that dad worked hard for a long time and now dad is working hard in a different manner and that is good for us, good for our tenants, and good for the people managing their properties, good for everybody.
I mean we're providing jobs and safe homes and you know helping the economy and helping people and you know it's stepping aside from helping folks in the military to now helping folks on the civilian side our community. It’s the smaller sense.
Mike: Awesome man. Wow that is inspiring. I'm looking to get anything near that big. But even still that's an incredible man and a lot to you know to handle for sure. So you definitely got your work cut out for you on that one.
Adam: All about systems. All about systems. You get the right systems in place in the right partnership, because this is a team sport for sure. So if we get the right systems and the right team, anything's possible.
Mike: Yeah that is true, that is very true and I think that's a lesson you also draw you know from being in the military. You know about having that support, having that system in place. I think honestly that's why we see a lot of military that are successful investors. Because they've just been used to it. You know they've been brought up in that community. So it's almost easy to just translate the two right and so...
Adam: Absolutely when you learn how to run a managed a team in one place, you can transfer it anywhere you want to. It’s just a mindset change and you know what you're focusing your team on and you know knowing how to pick your team. you know do I need to know how to pick a team to go kick down the door and clear house or I need to know how to pick a team to go open a door and inspect the house, you know there's a big difference. But it's a still the same team. You know it's just still same ideas.
Mike: Still the same team. Absolutely that is an awesome parallel there, I love that. Wow all right so cool. So tell us about how you got started with ADPI all right. I fell that's a unique story that's definitely worth sharing.
Adam: It is a bit unique. So I was in the multifamily realm looking around trying to figure out some stuff and I went to a conference down in Los Angeles, the rod Khalid conference. The multifamily boot camp that he put on out in LA and I flew specifically from Japan out to LA for that event. So it was dedication that you know my wife and I were like look you know if we can't pull a trigger on certain things and we're not going to be able to do what we'd like. So it doesn't matter, go fly out there, going to knock it out.
So flew out there, met some folks. I mean the education side was great right. but I've been educating myself on multifamily for a long time after I left the single family thought process and so I knew a lot of the education. but the amount of people that I met in the connections that were made they were unbelievable and obviously one of the best connections I made was with Eric over ADPI and we sat down, we had lunch couple times. We were talking with each other in all the breaks. We’re trying to get good ideas back and forth.
You know they were over there trying to learn some of the multifamily stuff to help the ADPI community out and you know I was discussing with them showing them you know the different varieties, the different ways you could do things and different ideas that you could have for it and that's where I really got introduced to ADPI and it went right back to that team concept. You know I saw these guys as a great asset and we just sat down, we talked. We kept you know look at things over and started to build that team together. So that's how I got in with ADPI was at that conference and it's done nothing but build sense. So it’s been pretty awesome.
Mike: Awesome man awesome. Yeah guys telling you that was such an amazing story. because I remember being on the other side of that and just hearing all the awesome nuggets that came from that conference and then Mark Yan and Erik telling me about this new guy Adam who they met who they absolutely fell in love with and he was you know so passionate and they shared the same connection and the same mission. It just made sense to bring him on board.
So you know him so we brought him in and here he is today. You know he is you know and he has been absolutely you know killing it, adding so much value to a whole new chapter in our ADPI game. Which is the multifamily role. I mean and this is not something that you know we had even thought about at first. didn't even think that people would be as interested in it as much support as we've gotten since we've brought Adam on board and we always thought you know hey we'll stick with the VA loan, single family and maybe you know though the multifamily up to four unit right.
Because you can buy that with your VA loan and just keeping it simple like that. But then when you came on board and we put it out to our guests, we had a resounding amount of support and so we're like oh man this is great.
Adam: Absolutely opens up a great door to folks and you know a lot of people think that they can't tackle it and once I walk in fuchsia up the processes and you see some of the ways we do it and I'm hoping to have some videos to show this process. What I want you see how it actually works, it's much easier than people think. I think it's one of the best opportunities out there. But that's just because that's my niche.
Mike: Yeah absolutely. So this is definitely something to get excited for. We’ve got a lot of stuff in the works for you. As a matter of fact do you want to just kind of highlight some of the cool stuff that we've gotten works for them on the multifamily scheme?
Adam: Absolutely I'd love to. So we've got a few different ideas that we're tossing around and I'm already starting to record some videos and some training to try to help people understand some of the differences between single-family and by single-family I mean one two three and four houses.
I mean obviously you know quadplex is more than just a single-family. But as far as you discussed over that VA loans and everything else that's considered like single-family residence. So between the single-family and the commercial or multifamily side of the house. So we're working on some videos to put some teasers out there for some folks to get an idea of whether are they are interested and then you know hopefully you get a full training platform out for everybody to really sink their teeth into as well as I'm buying my next deal, I'm going to try to do is record some various things.
You know record how I analyze this particular deal and how I walks through the place, walk through the residence, you know talk with some different folks. So we can have some videos on there. So people can realize that okay well if this guy from Japan can do this, then you know I can do it from my house in Kansas. So I think those are some of the exciting things we're hoping to get out on the table and I mean it's not going to happen tomorrow. Because that was just a lot of work that goes into this. But it's some of the stuff we're hoping to really highlight as we go through.
Mike: Nice nice. Yeah this is an amazing piece of insider information here guys that you getting. So definitely make sure that you're staying tuned and subscribing to the channel and checking out the website for awesome updates. Because we've got so much stuff that's coming up in the store and this multifamily side is going to be amazing. This is definitely something that I am going to be watching closely myself. I have never invested in anything more than actually a duplex. I was going to say single family. Because that was my first purchase and I always forget about it.
Adam: Everybody got to have their niche. Not everybody can do all of them. You know I think that people should focus on what they're comfortable on and you know get as smart as you can in those aspects and jump on it. So I know plenty of people who are multi Multi multi millionaires off of single family’s duplexes, triplex, quad plexus and so its great opportunities no matter which one you choose.
Mike: Exactly exactly. Wow so definitely stay tuned guys. Because there's so much excitement coming up in store. So real quick right now multifamily, give us a little sneak peek. because I think that even with this excitement that everyone's building up, I mean for those who don't understand anything about you know the big commercial level stuff right. Like just give us maybe one or two nuggets right that you want to keep in mind when you're investing in these multifamily properties. Right these big level commercial properties.
Adam: Well one or two nuggets. That’s going to be a little difficult to narrow it down. But I'll see what I can do. the multifamily could be anywhere from five units all the way to whatever size apartment building you want, you know three, four or five hundred units at a time. So what you really want to think about is one of the biggest differences is how you would analyze a property and the exponential growth you can get in just improving some minor things on your property. So just one way to get a little excited about it.
So if I have like a 10 unit property, it does not matter what they attend you to property next door to me sold for. That is not where my price comes from like it doesn't, a single-family house. Where my price comes from as well as a business. So my ten unit property, if I increase the rents a hundred dollars per door, it will exponentially increase the value of my property. Because I've just increased the net operating income and I've got a video. It’s going to be coming off that. I don't want to go too in depth.
But with only one or two Nuggets again and I talk a lot. So I mean if I improve my apartments, each one of my apartment’s buy a little bit adding some different paint in there. You know redoing the cabinets etc. and I'm able to boost that rent fifty to a hundred dollars a month. Now I get that you know one hundred dollars times ten, I mean I got a thousand dollars a month increased. Cap rate that's going in that area, you've increased the value of your property immensely and that's when you go to sell it. That’s what you go for as you're trailing twelve how much money you in...
How much money you made in your trailing twelve, your last twelve months. So that's the type of thing that gets me excited being able to talk about those numbers. I'm able to say hey I increase the value of my property by increasing my NOI. whether it was by decreasing my expenses or increasing my rent or my income I should say and you know you're increasing your NOI and thus you are improving the value of your property right there just by doing that and you could do that without making any improvements to your property as far as putting actual capital in there. If you just figure out a way to lower the expenses and you didn't do a whole lot of work in that and you didn't have to put money into the property.
But you just increased your property value immensely. So if that doesn't get somebody excited by getting their property value increased and not having to do any work, then I don't know what's going to. But you have to find the properties. So you know that average rough estimate is going to be about 50% expenses. If you see the property that's at 60-65 % expenses, getting in there decreasing that by 15% increases your NOI immensely. So it's a pretty impressive platform to use.
Mike: That is really impressive and you know I even still like hearing you and not only your passion behind it. But you know just some of the things you say you're saying about it is already selling me on it. because this is just sounds so cool you know being able to not only affect tenants, but to affect the community right and essentially because when you're dealing with that many doors, I mean that's essentially what you are doing. That is so cool, so cool. Wow all right man that's awesome. So definitely guys I hope you guys are listening to all this. Because there is so much fun in store with the multifamily game and Adam is going to bring it.
Adam: I am super excited to do it too. You’ll notice in any of the videos that I produce I can never shut my mouth. So I start talking about apartments I get really excited and I can't stop. So I'll try to tone it down.
Mike: No man don’t tone it down at all. Just let them have it. It’s all good. The passion will be there and I'm sure it'll be well- received. Because you know this is what we do. We’re passionate about that information man. otherwise we wouldn't be doing this and we are definitely going to be bringing you back on the podcast multiple times to discuss you know how things are going and once we start incorporating like these deals and stuff into our sphere.
We’re going to be deep diving some specific topics too. We’ll go into you know like what is a cap rate or how do you add value. You know just breaking everything down super simple for you guys. That way you know there's no question. By the end of this podcast you can go in there and go you start crushing it or you can check out Adams videos and just go down the list and go make it happen man and build that wealth and find out your financial freedom in your life.
Adam: Absolutely looking forward to it.
Mike: Yeah oh man I'm so excited all right cool. So all right sweet. So short and sweet, I love it and a little sneak peek. We got a lot of great stuff in store. But I'm going to take you through the bonus round too man. Because I think that it [22:45 inaudible] let's go ahead and do it. We’ll give our listeners a little insight and a little more look into you as our team member and what's going on. So question number one, what is your number one read?
Adam: So this is a kind of a tough one. So I would say the number one read and it's kind of cliché. But I'm going to have to go with Rich Dad Poor Dad and the reason I say Rich Dad Poor Dad, sadly a lot of I don't want to say. But a lot of people say Rich Dad Poor Dad. But the reason is that's what really gets your mindset shift. It’s really where you start to understand the difference between an asset that's going to be helping you and what you think is an asset that's going to be draining you and it doesn't teach you the how on anything. But it teach usually the why and I think that it's a great book to read to really get you to understand what's going on.
Mike: I definitely definitely believe that. It’s actually so funny that you know the more you listen to podcasts, the more commonality you'll see like Rich Dad Poor Dad has sparked a catalyst in so many people's lives. Yeah it's crazy you know. I mean and even for some people who don't even you know do real estate all that much, they'll even still say you know rich dad poor dad kind of got them thinking about you know businesses and assets versus liabilities and you know making smart financial decisions in their life and it's huge man, huge impact.
Adam: And even if it's not real state that somebody chooses to go down, you could still relate that in other aspects of your life. I mean it works out really well and I want to also say one other book that I'm reading right now, I know you said what my number one read is. but this particular when I'm in the middle of reading right now and it's Chris Foster's like a, he was one of the top FBI hostage negotiators for a long time and he discusses never split the difference as far as in negotiating and you know it works out in all sorts of aspects of your life. Whether it's teaching your child to do something you know having communications with your wife on a different level.
Not necessarily that you're trying to negotiate a hostage situation with your wife in the other room. But you know on a different level of communicating and you know one of the things he says in there never split the difference. Just I found this comical and it was funny. He’s like you know if your wife says you should wear brown shoes with that suit, then you say you should wear black shoes with that suit. Well we're just going to split the difference, I'll wear one brown and one black.
Well it doesn't make any sense at all, nobody wins. so you know that's one of the great things about that book, it's just listening to his different stories and how they fit in different aspects and I am using that in a multi-family realm with being able to use that to sit down across the table or in my case since I'm in Japan across the computer from somebody and negotiate a deal is, I think it's A, the book is fun and B, the book is very helpful. I enjoy it.
Mike: Right and that is awesome. Yeah definitely some good inspiration there. So all right and there'll be links to both those books in our show notes. So make sure you check out show notes and just scroll down and grab it that way. If you're looking for a copy you go out and get it, it's good stuff. All right awesome. Okay so number two. Who is your biggest hero and why?
Adam: So I thought about this one a little bit and Captain America was the first one that came to mind and that's not [26:28 inaudible].I would honestly say that and she'd probably slap me if she was standing here. but my wife I would say is probably my biggest hero and reason being and I know, I'm going to get a lot of brownie points for saying that on a podcast and the other reason being is as you like I mentioned earlier in the podcast, if it wasn't for her I would never be looking at real estate.
If it wasn't for her I wouldn't have a little boy upstairs sleeping right now and another little boy baking in my wife's oven right now. Yeah number two on the way. It’s crazy and so she has brought more focus and drive in my life than anybody has ever done before. You know she's still making it happen all the time and its impresses me no matter what.
Mike: Wow well alright man. I know you had a lot of brownie points going into that. I'm not sure how much you have left after that comment.
Mike: Absolutely. I think that's one thing that we all kind of take for granted. No matter who you are male, female you know wherever you're in that career your backbone in that family while we're going out and just making it happen. You know serving the country or serving the family you know it doesn't really matter how you look at it. But there is a lot of stuff that goes on behind the scenes that we're not privy to.
Adam: It is an immense value having her on my side.
Mike: Amen to that and you got another little wood on the way what?
Adam: Yes I do. Half way there. Got a boy coming in December?
Mike: Oh December. Oh no Santa's going to be busy. Correct me if I'm wrong, but your other son is he's also in December right?
Adam: Oh yes both of my boys are going to be at December. We just found out actually this one was a boy last weekend. So that's a bit crazy, two boys both in December. You know I'm not sure what God has in store for me for Christmas for the rest of my life. But I have a feeling it's not going to be great.
Mike: A little extra motivation to get those thousand doors right.
Adam: You isn’t kidding.
Mike: Wow well alright man. Bill so not only big things coming for an ADPI, but big things coming for the Laver family. So stay tuned, that is awesome man. Oh I'm so, oh man I am so motivated that's cool.
Adam: Thank you thank you I'm excited.
Mike: Yeah Congrats. Oh all right cool so let's end it here number three, all right. What nuggets do you have for those who are just getting started?
Adam: All right so I would say for those just getting started, get educated. Learn as much as you possibly can. You know with education comes confidence, with confidence comes action. So you need to get to that action point. We have a tendency as a military family to have confidence regardless of what we're going into, which is great and we want you to actually the proverbial door and go purchase places but just get some education first. We don't want analysis paralysis. But get education, understand what you're getting into, find your niche, be an expert in that niche you know and learn learn learn. It’s okay to have OJT. You know learn by doing.
But know what you're doing before you get in there. You know have some knowledge coming in to some of our courses, coming in to our podcast, coming in to our Facebook group. Get some of that knowledge and attack. The second you stay focused and you know you can do all the learning you want. but if all you do is bounce around from niche to niche and you know well I want to look at single family, I want to look at multi family, now I want to look at the land and now look at you know you're bouncing around all over the place learning all these different niches and you know you're going to have a much harder time executing.
So you know get educated and stay focused. so I think those two just by themselves will get you so many, get so much farther than you thought you could go. Because what that confidence comes that action and if you're focused on where that action is and you can't go wrong. Yes you're going to lose once in a while, you're going to lose a few bucks here and there but as long as you keep getting that education and you keep making that action in the right focused direction, you can't lose.
Mike: Amen Wow, amen to that. Definitely take those two nuggets to heart guys. Because that is absolutely true and as a matter of fact there's another podcast on the way with Tim Kelly and he talks about just that right. Staying focused and being just being so direct with your approach and understanding what it is that you're looking for. So look forward to that. It’s another good one coming up. Adam thank you so much man. This was amazing and really really glad that you know you were able to take some time out. I know it's super late for you right now. I believe you just put your son to bed.
Adam: Oh yes it's absolutely my pleasure. It doesn't matter the time I'm ready to go. So I mean you can tell I am even excited even if it's late at night, I'm ready to rock.
Mike: Yeah Man that's what I'm talking about. A lot of late hours putting in as a real estate investor and [32:34 inaudible] some of the stuff, it's even more hours. But it's all good.
Adam: Absolutely worth it in the end, no big deal.
Mike: Amen to that. All right guys well hey awesome stuff thank you so much for tuning in to this episode. It has been an absolute pleasure having Adam on board and make sure that you reach out to us all right. You know how to find us, we've always talked about it. Right you got our Facebook channel, we've got Instagram now. We just building up our YouTube and definitely make sure you checking out the videos like there.
Especially when Adam starts putting a lot of his multifamily stuff out, great. Www.activedutypassiveincome.com. make sure that you go ahead and subscribe to our email list. where we can send you guys all the information updates that comes out, keep you guys updated on what's going on and make sure you check out the show notes right on the page here and get some awesome little tips, highlights from Adams interview here, a little insight about him. Also some of the references that we listed here in the podcast. There’s a lot of good stuff. Hook-yeah again Adam thank you so much for sticking with us, we appreciate it and yeah we got a lot more stuff to do. So who yeah man. Make it happen.