Mon, 15 August 2022
MB331: 10 Years in Single Family vs. 10 Months as Multifamily Investors – With Lance Doty & Adam Mitchell
For 20 years, Adam Mitchell has been dreaming of a multifamily portfolio. But without the confidence or the know-how to invest in apartments, he started with single family.
A decade ago, Adam joined forces with his friend Lance Doty, and they became the Home Buying Guys, scaling a successful single family investing business that runs on autopilot.
But in 2021, Adam took action on his vision of moving into the multifamily space and invited Lance to join him in the transition. They became the Apartment Buying Guys, and within 35 days, they had 225 units under contract.
In just 10 months, Adam and Lance have raised over $2M and acquired 731 units. Both have achieved financial freedom, and they are well on their way to the goal of 1,000 doors in five years.
On this episode of Financial Freedom with Real Estate Investing, Adam and Lance join Garrett and me to explain why it took them so long to make the move to multifamily and how they overcame their lack of experience to break into the space.
Adam and Lance discuss the value of hiring a mentor, describing how they might have accelerated their journey by getting support sooner and why they’re focusing on scale from Day One.
Listen in for insight on what makes Lance and Adam’s partnership work and learn how to make the leap from single family to apartment building investing—and achieve financial freedom in three years or less!
For full episode show notes visit:
Direct download: Financial_Freedom_with_Real_Estate_Investing_EP331_v2.mp3
Category:Commercial Real Estate -- posted at: 1:00am EST