Join Vince Gethings, as he chats with Adam La Barr as he shares about how he got started doing REI and how the transition went, coming from a military background. Adam has a background in coaching as well with his company APDI where he helps coach and mentor over 40,000 members, especially military members and veterans alike, and teaches them to build their passive income. It was at a point in Adam’s life that he realized he needed to straighten up the way he utilizes his money as well because he noticed how his wife has a savings account and then decided to build up his passive income along with his investments as well. So much to unpack especially with Adam’s wisdom that he earned through years of experience so be sure to stay tuned!
Being involved:
Adam shares that the biggest lesson he learned from his first-ever deal is to be more involved with the team effort. During the first deal, he was living in Japan which gave him an excuse to let the deal take its course on its own. He was slightly in doubt because he didn’t think that his experience dealing with contractors back in the military would come into play in the real estate field. He also shares how you shouldn’t fear to use your knowledge from a different “arena” to another one because that’ll help you transform your existing skillset into the one that you need for the new practice you’re undertaking.
By the fire round, Adam shares how you should trust yourself in order to move forward as his final advice. He says that trusting yourself means surrounding yourself with your team, making sure you get past that imposter syndrome and building up the confidence to know that you can get your job done. Put yourself in the right community for your endeavor as well, in order to learn not only technical knowledge but also the behavior, the habits, the mindset, and push yourself forward with what you gain from your environment, further helping with the confidence build up and in turn be able to do more.
About Adam La Barr:
Adam was an Air Force brat before joining the Air Force and traveling the world. Adam is married to his wife, Raquel, who was instrumental in his decision to start investing in real estate as she saw its power through her family’s investments. Adam and Raquel have two crazy boys and they love spending time with them while building their real estate empire. His first investment property was a 62-unit apartment which he bought while living in Japan!
Adam currently co-leads Active Duty Passive Income’s Military Multifamily Academy and Mastermind where he utilizes his passion for property research and underwriting to help guide and coach new investors. He loves teaching other people how to invest, and while he claims to be no expert, he will gladly teach all he knows to anyone who will listen.
Outline of the episode:
- [00:53] Adam’s background and investing endeavors
- [05:10] The first deal for Adam
- [11:09] Adam’s advice for taking on your first deal
- [17:39] Adam’s goals for 2022 and transition to Florida
- [19:42] Tips on building a portfolio
- [22:27] Fire round with Adam
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The Cashflow Project
This is for busy professionals who are looking for financial freedom through passive income, with a focus on cashflow assets in Multifamily Real Estate. We will be covering a variety of topics such as buying, managing, and selling real estate assets, specifically apartments.
To learn more about us, visit tricityequity.com