EP. 32 // How to Acquire 1,000 Apartments by 27 Years Old w/ Adrian Salazar
On today’s episode we have founder of Optimum Buyers LLC and co-founder of Two Ten Management and HomelyEscape, Real Estate Investor Adrian Salazar out of San Antonio, Texas. Adrian is a power player even in his mid–twenties, controlling over $80,000,000 in Commercial, Single-Family, and Multifamily assets. In today’s episode, David and Adrian talk about how Adrian closed his first deal while he was still a sophomore in college, how he became all-in on multifamily assets, and they even do a cold-calling roleplay to show you how Adrian locks up deals!
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Key Points from This Episode:
Adrian found his start in real estate by sourcing sellers for wholesale deals. He quickly scaled to an acquisitions team, but his ultimate goal was to be able to achieve total financial freedom through a wealth portfolio.
Because of this, he attended networking events and soon acquired over 900 units under management.
Adrian says he “isn’t different,” but David points out he started in 16 at network marketing with a lot of drive! Adrian says sales is in his blood, his father was a car salesman and that subconsciously taught Adrian how to sell. He would sell chocolates and cookies as a kid and even then his father was encouraging him.
Adrian talks about not needing anyone’s support: his entire life, his friends would mock or disregard his ambition or focus on real estate. You can create any resource you need; support is good, but at the end of the day you’re the only one who can fix things, raise capital, and make it happen!
Adrian was a sophomore in college when he did his first deal. He was generating leads for his mentor so he could ride along to the deals and see how they were done; he was doing this without getting a profit. He watched him close every single deal and learning rapidly!
The wholesaling went for 4 years; he worked with his mentors until he was ready to move on toward wholesaling alone, but he realized that this wasn’t inline with the goals he had, it was paycheck to paycheck.
He met his current partner in college; he showed him the ropes of his business. His partner started wholesaling multifamily. One 24-unit made him $264,000 in 3 months! This showed Adrian single family was not it for him. He started focusing on 8-32 units, wholesaled 5 of them, then bought his first 16 unit. This was his first legitimate deal, it put him on the map, he maintained the property, bought a 36 unit etc. He was all in on multifamily.
The last 550 units he bought were done from doorknocking! After a cold-call deal fell through, he skip traced the guy’s number, flew out to California and confronted him! He said he wouldn’t leave without a signed contract. $21,000,000 deal, his biggest to date!
Adrian and David do a cold-calling roleplay!
Adrian brings several people to each inspection; contractors, roof people, lights, camera, and action: he wants to know what he’s buying. He wants to know everything that is inside the property he’s buying to do the due diligence for his investors.
Adrian’s advice is to get in a solid workspace. Pull lists, call ListSource, speak to someone there and let them know exactly what you need, pick 2 or 3 markets nearby, tertiary or secondary markets, not always A-level markets. Attend events and join a bunch of facebook groups to find people who are buying in those markets. Get some advice, ask for calls, and build your network. Create free accounts on all data sources that are available, and pull 8 - 40 units and crosscheck them all to create a master list. You have names, addresses. Now go one by one, google, call numbers, visit the owner’s homes. You don’t need to spend money, you just have to grind behind the computer!
Relevant Links from Today’s Episode:
ABOUT ADRIAN SALAZAR
Full Time – Accredited Real Estate Investor
Graduated from The University of Texas at San Antonio
Bachelor’s in Construction Science Management
Minor in Business Administration
Currently controls over $80MM in Commercial, Single, & Multi Family Assets
Founder of Optimum Buyers, LLC
Closed on 60+ Single Family Real Estate from 2014 – 2018
Co-Founder in HomelyEscape, LLC (Short Term Rentals)
Currently operate and co-manage 7 short term rentals via Airbnb
Co-Founder in Two Ten Management, LLC (Acquisitions, Property, Construction, & Asset Management)
Closed on over 1000+ units in the last 3 years
Co-own & self-operate property management operations for the multifamily properties we
currently own and lead sponsor (851 units)
Lead on site construction & property management operations for our multifamily projects
Help target off market opportunities for our portfolio -
Lead Sponsor & Key Principle
Oak Ridge Apartments: 16-unit - McAllen Texas – SOLD – Nov 18, 2020
Sonterra on McColl Apartments: 32-unit - McAllen, Texas. – Undergoing Refinance at 3X Value
Valencia Apartments: 9-unit - Pharr, Texas – SOLD – October 2021
Plaza Royale Apartments: – 88 Unit - McAllen Texas
Onassis Retail Plaza: – 15 unit – Brownsville, Texas
Darwin on Ware Apartments: – 42 Unit - McAllen Texas
Weslaco Garden Apartments – 43 Unit – Weslaco, Texas
The Luke & The Monark Apartments – 279 Units – McAllen, Texas
Arcos Apartments – 117 Units – San Antonio, Texas
Domit Apartments – 235 Units – McAllen Texas –
Sunshine Plaza – Brownsville Texas – Under Contract Closing August 2022
Limited Partner
Flint at 290 – Houston, Texas – 192 Unit Apartment Complex
Experience working with Architecture / Construction / Engineering Professionals since 2010
Hobbies Include:
Scuba Diving / World Travels
Fitness / Health
Networking / Personal Growth
Goals & Objectives for 2022
Lead Sponsor / Acquire 1000 Units – 500 RGV – 500 San Antonio
Raise 1B in private equity for multifamily / commercial real estate projects
Continue to build a global platform for people to invest in commercial / residential real estate
