Adam Stern, the CEO and Founder of Strata SFR, talks to Daniel Nickles and Chris Thompson of Two Smart Assets in “The Build for Rent Market in 2021”

“Adam Stern has transacted on more single-family rental portfolios than any other single professional broker in the SFR industry,” says host Chris Thompson to kick off the podcast.

They cover why the build-for-rent (BFR) market is taking off, the metrics you need to track if you want to find great deals in the space, and the specifics of how deals work in the off-market.

Having carved out a niche in the off-market, Adam is uniquely poised to offer advice on how to navigate it.

Adam gives practical, direct advice for listeners: “I will say for any of your audiences, if they’re trying to figure out how to make money in build-for-rent or single-family rental or really any real estate asset class is [to cultivate] a network to find the opportunities.”

Networking is an essential part of the BFR market since a lot of interested parties simply don’t know where to go to advertise and find deals — an area that Adam Stern sees as ripe for innovation.

Podcast Episode Breakdown

2:44 Context for Adam’s Career and Business

  • 3:31 Why Adam Launched Strata SFR to Identify BFR opportunities
  • 4:04 Adam Explaining How He Operates in the Off-Market
  • 5:07 First Thing Adam Did to Find Opportunities
  • 5:59 Going Upstream to Identify Deals

7:47 The Historical Event Adam Thinks is Driving the Build-for-Rent Market

10:11 Groupthink in the SFR Industry

11:41 Metrics Adam Sees as Good Indicators for the BFR Market

14:15 Metrics Adam Tracks to Uncover Solid BFR Markets

15:20 The Off-Market and the Importance of Networking

16:45 One Piece of Advice for Success in BFR, SFR, or Any Real Estate Asset Class

19:03 Biggest Part of Adam’s Business: His Exit Strategies, Avoiding Competition

20:30 Example of Adam’s Exit Strategy on a Current Deal

22:21 Timeline for Certain Deals

24:27 Difference Between Adam’s Deals and On-Market Transactions

25:29 The Biggest Benefit on Working in the Off-Market

26:53 Closing Statements