Adam Balsinger
Adam Balsinger is a real estate entrepreneur and the cofounder of two thriving real estate companies, North South LLC and Three Oaks Management LLC. Adam’s integrity and unwavering persistence combined with his personal mission to benefit everyone with whom he comes into contact, have led to the growth of both businesses.
North South LLC was founded six years ago as a company specializing in a niche known as wholesaling. North South wholesales, flips and has a growing rental portfolio in the Greater Philadelphia area. They have executed over 100 transactions in the past six years while building a portfolio of 12 rental units. Under Adam’s leadership, team members conduct direct marketing efforts to contact sellers to see if they may be interested in a quick, cash purchase of their property. “The value we provide to our sellers is speed and convenience. While not a fit for many, a quick and easy cash sale is a great fit for certain people in unique situations; people who are behind on their real estate taxes and at risk of losing the property to tax sale, tired landlords, people who inherit unwanted property, properties that are riddled with debt and encumbrances that need to be negotiated, etc.” Adam speaks of the sellers they help proudly, “Selling via a traditional real estate agent isn’t a perfect fit for everyone. It’s not a one size fits all solution. We help folks get out of their problem properties. Our team is great at problem solving and going the extra mile for our sellers.”
Once the North South team has negotiated a deal to purchase the property, they hold equitable interest. In some cases, they buy the property to flip or to add to their rental portfolio. In other cases, Adam and his team assign their equitable interest to one of their preferred buyers for a fee. Adam explains, “The typical real estate investor is a small operation, often just one person or maybe a handful of people. They’re busy, busy overseeing construction crews, picking out finishes, talking to lenders, managing their portfolios, etc. Many don’t have the time to be out talking directly with sellers. They’re buying their deals off the MLS. When we assign our equitable interest to one of our preferred buyers, they’re getting a 20% – 40% discount off of MLS pricing. So, everybody wins, our sellers, our buyers, the neighborhoods where we do business. Everyone.”
Three Oaks Management is a multifamily syndication business. Founded three years ago, Three Oaks specializes in the acquisition and management of income producing multifamily properties located in emerging markets in North Carolina, South Carolina and Georgia. Adam and his team focus on value-add properties ranging in size from 50 to 200 units.
Three Oaks has a portfolio totaling 140 units spread across two properties. They anticipate closing another two properties by the end of Feb 2021, bringing their total unit count to 268. Upon acquisition, they fix up the property through physical renovations, they increase the income the property produces, and they reduce the expenses on the property via efficient management practices. Their work increases the total value of the property. Adam anticipates adding approximately $3.5 million in value to a deal they’re currently working on in Charlotte, NC that they’re buying for $7.4 million.
Three Oaks partners with private investors who are able to participate in deals as totally passive owners. Adam discusses the benefits to their investors, “Our investors are able to invest in a real, tangible asset like real estate, sit back and collect above average returns, while also taking advantage of the many tax benefits provided via real estate. They prefer the stability and upside we can provide over the lower returns and volatility in their traditional investment vehicles.” Adam says that many of their investors use self-directed retirement funds as a way to grow their nest eggs as an alternative to a 401(k) plan.
Since graduating from the Pennsylvania State University in 2006, Adam has been helping people achieve their goals while enabling them to live life on their own terms. His passion is evident when hearing him discuss the way his businesses benefit the people they touch. His two growing firms are helping an increasing number of people, standing as testament to his passion and dedication to his mission.
Adam Balsinger
Partner
North South, LLC
Three Oaks Management LLC
Download the magazine and see Adam's feature on page 70.