Building Finer Bridges Between Property Owners and Investors – Adam Stern Episode #125

GUEST BIO Adam is the CEO and Founder of Strata SFR, a Build-To-Rent and SFR Portfolio Brokerage. He also co-founded OwnAmerica, a marketplace for single-family rental property portfolios that was acquired by Renter’s Warehouse in late 2018. He’s a leading expert on the Build-for-Rent market by providing guidance on go-to market strategies for regional builders and land/lot developers. He also assists them at expanding their transaction volume and revenue by servicing the ever-increasing demand for Single Family Rentals (SFR), particularly from institutional investors that own and operate rental homes in the US. Adam is also an authority on the acquisition and disposition of SFR portfolios nationwide. He has helped facilitate SFR transactions totaling hundreds of millions in volume and was one of the earliest to recognize the portfolios of stabilized Single Family Rentals- a product that deserved a specialized service composed of network of owners and buyers active in the space. HIGHLIGHTS OF THE EPISODE 02:06 - Background of the guest 05:49 - The investor-operator institutionalization 08:31 – Is/Are your single-family rental property/properties qualified? 15:40 – Is it more advantageous to sell properties in a portfolio or off of one? 21:48 – Build-for-Rent and how it works KEEPING IT REAL 25:29 - Bridging the gap between investors and property owners 28:15 - Making SFR and Built-For-Rent deals efficiently with Strata SFR 33:35 - Bringing technology to the table 36:05 - Learn to say no 37:05 - Finding your path RAPID FIRE QUESTIONS 40:55 - Favorite Books - Play Bigger by Dave Peterson, Al Ramadan, Christopher Lochhead, and Kevin Maney | Tribe by Sebastian Junger 43:55 - Best Habit – An hour out of the day to talk to someone about anything substantial | Coffee! 46:16 – Self manage or outsource? 46:25 – Cash flow vs. Equity 46:56 - Best Tool – Slack | Google Meet NOTABLE QUOTES (KEY LESSONS): “The litmus test for really any specialist in any sector whether it’s Single Family Rental or portfolios or Multi-family or anything, is knowing how and when to say no. Because if you chase everything that comes along, you’re gonna be wasting a lot of time and it’s almost impossible to do any real business unless you know exactly what you’re looking for to a very high degree of specificity.” “I talk about the 3 Ps, passion, persistence, perseverance. Find something you love to do, do it always and get better at it. Overcome the roadblocks. They’ll eventually almost never really stand in your way from getting further. And if you could find that thing that you’re passionate about, it takes care of the other Ps. And if you could find that one thing that you’re passionate about, you don’t mind doing it consistently. You’re not gonna mind overcoming the obstacles because it’ll be intrinsically fun for you because you have passion about it.” CONNECTING WITH THE GUEST Official Website LinkedIn #ExperimentBroker