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Show Summary
In this conversation, Ade shares his journey into real estate, emphasizing the importance of building relationships and educating others about investment opportunities. He discusses his commitment to spending significant time on deal-making and networking, and highlights the role of personal connections in the real estate business. Ade also introduces TNT Prosperity Capital, where he focuses on educating individuals on how to build capital for multifamily investments and passive income.
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Investor Fuel Show Transcript:
Ade (00:00)
And one of the logos that he preaches is you’re not chasing the deals, you’re chasing the relationships.And I live by that as well. In this space, you’re not doing it alone. You’re building relationships. You’re building a family. And the people that you want to deal with are the same people that you want to be able to bring home. And let’s fellowship with one another. Let’s watch a game. Let’s do barbecues, let’s basketball, whatever it is.
Dylan Silver (02:03)
Hey folks, welcome back to the show. Today’s guest, Adé Adedapo, is a multifamily syndicator in the DFW Metro in Texas with TNT Prosperity Capital. Adé, welcome to the show.Ade (02:20)
Dylan, appreciate it. Thank you. Glad to be here.Dylan Silver (02:23)
It’s great to have you on here, Adé. I always like to start off at the top of the show by asking guests how they got into the real estate space.Ade (02:33)
Yeah, great question. It’s actually my wife who actually got me into it. It was sometime last year actually. She had joined some webinar. They were focused mainly on single family homes at the time. And she joined this conference with a pass of hers. And this is something that he did in the past. They did a lot of flips and then you know.Sub twos and things around that and she’s like hey, babe, you know, you should check this out and see you know What’s what’s it about? So I joined a few months later And you know, I was intrigued and someone something about me is I’m someone who is you know, very curious And an opportunity to to gain, know some really really good ⁓ Money. I was like, okay. Well, let me jump it. Let me jump into this Let me see what’s what’s it about started doing my research digging down
I mean, it was fantastic. But in the midst of my research, I happened to land on multifamily. Maybe you want to call it an act of God or something discernment. But through my analysis, God plugged into another group. They were a faith-based group, a faith-based guy. So I was like, well, I think this is God leading me into this.
That’s how TNT Prosperity Capital came to play.
Dylan Silver (04:02)
Multifamily is an interesting game to start in. I know a lot of people who have gotten started in wholesaling, single-family fix and flip, or maybe some rentals in the single-family space. But now I’ve seen more of a trend towards multifamily in the industry at large. I’m a realtor, and I see even ⁓ buyers who may be not the most experienced in single-family looking at…Ade (04:05)
Goodness.Dylan Silver (04:29)
getting into multifamily. So walk me through making that jump from, I haven’t done a deal in real estate as an investor to let me look at multifamily.Ade (04:40)
Yeah, so I mean the group that I was part of ⁓ large syndication over 300 investors ⁓ They I mean, I guess they sold the dream very well ⁓ for me and When you ⁓ and then they also have this structure where they are because some I’m someone like me I’m not a song who likes to sit down and and and just do modules and then read studying butThey base it so that you have a coach, you have a one-on-one coach, and that coach becomes your accountability partner. So they teach you everything that they know. And I was paired with this phenomenal coach.
And I mean, she’s from New York, and I’m actually originally from New York. So I thought, this is a beautiful pair. She may understand me a little bit better.
You know, and she’s someone who is like just drill down. She’ll tell you, she’ll teach you exactly what it is, how it is, and you know, how to apply it. And I, that’s type of person that I am. That’s how I work. Right. Again, I’m not someone who likes to go by and, and, go sit down and do the modules. And, and because, I mean, for me, I like to try it out. If it doesn’t work, I’m going to try to figure it out, scale back and then move forward. So, I mean, within that group, things were a lot.
easier, right, because you have that one-on-one coach. You had the modules, you had other members as well, so you can kind of reach out and pour out to. So I guess it was really the structure that really helped close the gap for me. And then of course, within my research through the multifamilies syndication module, I was able to reach out to other investors on Facebook and school and just different communities. And that kind of helped.
close the gap and create this type of ecosystem for me as I continue to move further in the journey. So ⁓ I wouldn’t consider a big jump, right? Because I have this huge ecosystem now. I have this huge family of investors who are ready to pour into me and I’m ready to pour out as well. I mean, that’s pretty much it.
Dylan Silver (07:37)
Now, this ⁓ group that you were a part of, it sounds like there were several groups. ⁓ Walk me through what it was like getting introduced and ingratiated as part of that group. And then was their focus to help others ⁓ build syndications or get started in multifamily? What was their messaging?Ade (08:00)
Which group the first or the second? So I was part of two two groups essentially Okay, so the first group ⁓ It it wasn’t as much Handholding I guess sort of speak right they set you out there. They had to these modules ⁓ After that they wanted you to step out into the world and and and try the steps right it drive for dot drive for dollarsDylan Silver (08:05)
I’m both.Ade (08:29)
⁓ Send ⁓ letters write all of those kind of things and I mean for me I Learned better by seeing right? I mean you go through a module ⁓ and I mean, it’s great I have my I have my nine to five as well So I mean I’m limited in terms of the time that I have ⁓ every week in order to devote to this But I personally speaking would rather follow someone out there driving down me my wife and I was done driving for dollars I mean we have the best experiencesUm, you know, and for me, felt sort of, right. Cause you’re going after people who are potentially going to be foreclosing. Right. And you’re trying to provide a way out for them. But many times when you’re at the door, right. Hey, I’m an investor and you know, I know that you’re going through this. Most people do not do not want to answer the door. Most of these people are in the struck. They’re, you know, they’re distressed. Um, so for me, I mean, from, from.
my heart, just didn’t have the heart to go out there and try to have these conversations with people because you can really see that they’re going through something. ⁓ So that kind of turned me away from this group. The multifamily aspect of things is these people obviously ⁓ are in better financial positions, right? And you’re just trying to give them a way out, right? Because most of the time they’re a lot older, right? Ideally, right, off market properties.
Dylan Silver (09:39)
Yeah.Ade (09:55)
we’re targeting individuals who are baby boomers, right? And because they are baby boomers, they may look to retire and they’re trying to figure out a way out, right? So they’re in a better financial position.So having those types of conversations with individuals who own multifamily properties, right? This is an asset to them, right? So they’re not really losing anything from that perspective. They’re not in the distress for the most part. I was very able to find a distressed multifamily, but.
They’re not really in that type of situation. So it’s a better conversation to have with a business owner or someone who owns a multifamily versus having the conversation about foreclosure and distress properties with an individual. So, right, for me, it was just an easier segue. And I mean, the second group or the group that I’m part of, right, because they have this more of a personal.
Relationship right you have this coach and all that other stuff. I think it was it was just a better transition. It felt better and I mean, like I said, I felt God led into this space and into this group so It can’t for me can’t can’t go against the big guy right so how I approach it so
Dylan Silver (11:47)
If he’s telling you which ways to go with investments, I think that kind of connection too. That’s pretty good. I want to ask you specifically, you mentioned something that I actually have not heard before. And coming from the background that I come from in the single family distress space,Ade (11:49)
If, if, yeah, if he’s truly telling you’re right, you’re right.Dylan Silver (12:08)
It’s important to note this, you’re going to be in the single family distress cellar space, you’re going to be having conversations with individuals, with families who are losing their home. And that this is a…turbulent, very much trying conversation. And if you’re walking in thinking that this is just a real estate deal, you will quickly learn that it’s not just a real estate deal. That in many cases you’re…
picking up broken pieces and putting them together. And that’s really how you can be of service to people. know, folks may be losing their home and not get anything. You can provide them some means, right, to relocate. And in some cases, it requires people to come together, right? It’s not just foreclosures where distress happens. Sometimes it’s divorces, sometimes it’s death, sometimes it’s estranged family.
And I haven’t heard anyone talk about actually having gone through the steps that you went through, Ade, and then saying, you know what, this isn’t for me. Because I think there’s a lot of people who might say, well, I’m just gonna stick to it. But if it’s not for you, there’s other spaces. There’s so many ways to build wealth in real estate. Multi-family right now is super hot, I think. And that…
Ade (13:31)
ThankDylan Silver (13:35)
leads me to my next question, which is, you know, single family distress is fairly obvious, right? You can see it, you can get foreclosure or, you know, probate list, things of that nature. ⁓ You can go, of course, to the foreclosure auctions at every Texas County courthouse if you wanna buy for cash at the auction, in the multi-family space,Ade (13:54)
ThanksDylan Silver (13:59)
What ways are people finding deals? know, if they’re not big institutional players with connections, how are folks that are getting started finding deals?Ade (14:10)
So, ⁓ I’m part of a networking group on Facebook and shout out to JJ Azizian, ⁓ fantastic guy. I’m not sure if you’re familiar with ⁓ him, Dylan, but he is ⁓ the real estate networker. He’s a connector.And one of the logos that he preaches is you’re not chasing the deals, you’re chasing the relationships.
And I live by that as well. In this space, you’re not doing it alone. You’re building relationships. You’re building a family. And the people that you want to deal with are the same people that you want to be able to bring home. And let’s fellowship with one another. Let’s watch a game. Let’s do barbecues, let’s basketball, whatever it is. You want to be able to bring these people home.
So for me, there are two ways that I source deals.
I’ve built a great broker relationship. So they add me to their distributions list, you know, whenever they have something, my phone is ringing constantly. I mean, this week’s gonna be a little bit, you know, slower, but for the most part, it’s reaching constantly, hey, I didn’t have this opportunity, you know, check it out, let’s see if we can partner, right? So I’ve built a broker relationship. But then two, I mean, a lot of people kind of hire VAs.
to skip trace and cold call leads. mean, honestly, mean the best way and I think one of the cheapest ways and I think one of the best software out there is like PropWire. Right, literally if you’re looking for a particular area, want PropWire. You go through the filters and it’ll provide you a ton of different properties that are out there.
And it’ll and what’s great about prop wire is it will then tell you okay because ideally you want to find a property that’s been owned at least five years usually at least five years there shouldn’t be any mortgage on there right because if there’s no mortgage on there then you have more flexibility in terms of what you can price I mean obviously it’s going to be at the end of this the sellers discrete discretion to be able to determine what that the price is right, but if there’s a mortgage on it obviously
Dylan Silver (16:51)
Yep.Ade (17:08)
the least you can get is where that mortgage is at, right? So you wanna have the flexibility where they’re owning it free and clear. And it will provide on ProcWire, it will let you know if it’s free and clear. If there is a mortgage, it’ll tell you what the mortgage is, how many different types of liens are on there or loans are on there. So ProcWire is probably one of the best tools that I use to find deals. The problem that I find with ProcWire though is now going through the…doing your analysis or your research in terms of, because a lot of these ⁓ properties are owned by LLCs. So now you have to go through the city, the county website to determine who, you know, where the numbers are, who owns it, that kind of stuff. But PropWire has been my go-to ⁓ tool when it comes down to finding off-market properties.
Dylan Silver (18:01)
Now, Ade, we are coming up on time here. Before we go, I do want to ask you about ⁓ what are some signs that you may have a deal in the multifamily space? And we think about single family, we think about, you know, pending foreclosure, we think about ⁓ distress, you know, financial, emotional, physical. Multifamily space, is it totally different? How do you know when you have ⁓ one on the hook?Ade (18:03)
Okay. ⁓⁓ I mean, if you’re able to see it, if you do, you can actually drive by, right? Drive for dollars, right? You can use that concept. ⁓ If you see that there are, I mean, there are some situations where there are some type of distress, right? Because if it’s an older person who’s trying to manage this property themselves, right? They’re not using a property manager.
and they’re older and they’re not able to go out there or that might give you an indication that that’s this property that could be up for grabs. But outside of that, you’re out there just calling, right? You’re calling, you’re getting in contact with a property manager, right? If you’re for a dollar and you see a property and you’re interested in it, it looks a little bit dated. There’s not nice painting on the outside, right?
Reach out to the property manager to see if the owner is willing to sell, right? Going online, like again, utilizing prop wire, right? And just calling from that perspective. But driving for dollars, I’ve done that in the past and that has opened to some conversations to portfolios that I’ve been able to build a relationship with the owner. Some of these guys, I they’re rig players. They own 15, 20 properties. And if that one property may not be up for grabs.
you can try to ask about other properties. And these are properties that are owned by individuals, right? So someone who owns 15, 20 properties, that might be a really good relationship that you wanna build on and see if there are other properties that you can engage in. And then they also, for the most part, know other property owners, right? So again, that’s why I emphasize this is all about building relationships and not just the deal, right? Because the deal, yeah, you may close this one deal, but that relationship can’t.
open the door from you closing 15, 20, 30 deals, right? So build the relationships, build relationships. It’s, think, one of the most important things you wanna do.
Dylan Silver (20:27)
The relationship aspect of real estate cannot be possibly overstated. The whole reason why I think a lot of people are in the business is because of one or a handful of connections that they’ve made, ⁓ whether it’s personal family or whether it’s someone that they know that got them into the business. And then the reason why people stick around, especially on the retail side, is because of a team. ⁓ And that’s also the reason why they might…Ade (20:32)
Yep.Dylan Silver (20:56)
not stick around. So the relationship component cannot possibly be overstated. We are coming up on time here though, Adé. Where can folks go to ⁓ reach out to you? Maybe they’d like ⁓ to ask you questions about the multifamily space. Maybe they have a deal they’d like you to look at or they’d like to learn more about TNT prosperity capital.Ade (21:16)
Yeah, definitely. So we’re on major platforms, right? You can check us out. mean, well, first check out website www.tntprosperitycapital.com. ⁓ We’re on ⁓ Instagram, ⁓ TNT Prosperity Capital. We’re on Facebook. Just search TNT Prosperity Capital. We’re on TikTok. ⁓ That one, enter TNT Prosperity Capital. ⁓ And we’re building out a YouTube channel.I don’t have that information yet. I mean this but you can check Google TNT prosperity capital on YouTube as well the piece They’re just really building that one out But yeah, we’re definitely ⁓ I’m someone who’s big on educating So if you look at my my Instagram my YouTube my my Facebook, it’s all about bridging a gap ⁓ Educating individuals on how they can build their business capital so that they can invest in multifamily and in passive income. So definitely
Give us a follow. I you’ll learn a lot for sure So yeah, that’s that’s it
Dylan Silver (22:22)
Ade, thank you so much for coming on the show today.Ade (22:24)
I appreciate you having me. Thank you so much Dylan.
