Real Estate Underground

Internet Isn't a Tenant Cost...It's an NOI Lever - with Adam Bell

• Ed Mathews • Season 5 • Episode 194

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Most multifamily operators treat internet as a tenant problem or a cost line they grumble about. Adam Bell, Founder and CEO of Internet Subway, says they're leaving real money on the table.

Adam runs a modern ISP focused exclusively on apartment communities. His company delivers fiber-to-the-unit (FTTU) in bulk to property owners, who pass it to residents as an included utility and capture the rent spread. Industry data shows 5 to 15% NOI uplift on well-executed bulk deployments. The math alone is worth the conversation.

But the bigger reframe is the one Ed pulls out of him halfway through: the fiber itself is an asset. Billions are flowing into fiber networks nationally. Property owners are in a rare position to own a portion of that infrastructure, a 30-year asset hiding in their own buildings.

In this episode:

  • The bulk internet math on a value-add multifamily deal, and how an owner should actually underwrite it
  • Why "managed WiFi" gets oversold and what to insist on instead
  • Bulk internet versus experience, and why the difference matters more than the price
  • Fiber as a 30-year asset class that scales in capacity, not maintenance
  • The contrarian take from his industry piece "Managed Wi-Fi isn't all it's cracked up to be"

If you're an operator, syndicator, or value-add multifamily investor, this is the episode that turns a cost line into a revenue line and reframes the building itself as a fiber asset.

This week's recommended book: The Confident Mind by Nate Zinzer

Guest: Adam Bell, Founder and CEO, Internet Subway

Website: internetsubway.com

LinkedIn: linkedin.com/in/adamlloydb

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Additional Resources:

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  • LinkedIn -> Ed Mathews (President at Clark St and Elevista)

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Ed Mathews

Greetings and salutations, Real Estate Undergrounders. It is Ed Matthews again with The Real Estate Underground. Thank you so much for making us a part of your day. Today we get to geek out a little bit, which I'm pretty exci- excited about. Being a techie I was just talking with our guest, Adam, here about how we can nerd out on a whole bunch of stuff. Today, we're gonna talk about real estate and actually how to help you increase your NOI. And it's something that I've looked at with regard to my own buildings. And so selfishly I happen to meet Adam through a friend of a friend and selfishly, I wanna hear about what he's doing because I think I can use it. And so I figured I'd have him on the show and share it with you guys as well. So Adam Bell with Internet Subway, welcome to the show, my friend.

Adam Bell

Thanks, Ed. Pleasure to be here.

Ed Mathews

Yeah. So for those folks who haven't discovered you online yet, why don't you tell us a little bit about who you are and what you do?

Adam Bell

Certainly. Adam Bell, based out of Richmond, Virginia. Been here for about 25 years now. River City's a great place to be. Yeah. I have a long history in tech. My, I started a I guess the best way to explain myself is a serial entrepreneur. So started as web design and developer went into an MSP world where ma- managed break, fix and IT services for small to medium businesses. Eventually got involved in the I ISP space. So working directly with multifamily properties to deliver fantastic internet service. And- Awesome. through that journey, I learned a bunch and s- founded with an excellent partner, Internet Subway, which is a multifamily internet service provider that's delivering the next generation of managed wifi for multifamily communities. Awesome. So that's high level, man. I went through it so quick. So-

Ed Mathews

That, that's okay. Yeah. We'll get into, we're gonna get into the details now. Most multifamily operators like me think about internet as like a tenant problem and especially a tenant cost, right? And, one of the things that I learned about you and I've heard you say online is that it's actually an NOI lever. And so walk me through the math on, a particular deal. You can pick one or you can, we can talk about just a, a theoretical one of 200 units. Yeah. And, what does that bulk FTTU actually do for NOI? Walk me through it.

Adam Bell

Certainly. Let me, for your listeners, let me take a step back and just set the stage as to what we're talking about exactly. So I think what we're talking about is a bulk internet service where the multifamily property owner contracts directly with an internet service provider, managed service provider like Internet Subway to deliver internet services to every apartment, every resident in the community. And so they pay a bulk rate. That's why it's called bulk internet service. And so they get a great price for internet service for all of those residents. The property then adds a fee. They could do it a number of different ways, but the way that most properties do it to be, completely transparent with the fees is they add an internet service fee to the rent package. Fully disclosed, but they add a rent a fee. And so let's say that they pay us$25, they might charge the resident$75 for that internet service. So per resident, per month, they're generating$50 of NOI.

Ed Mathews

Okay.

Adam Bell

That's fantastic NOI. It's hard to beat a lift like that. And so we o- you know, there is often an expense that comes with installing a network that can deliver that kind of experience to the residents. And we offer where the owner can pay for that upfront, we'll install it and deliver it and it's theirs or, we can also do it on a finance basis so it's CapEx free. Either way, we can generate NOI for the owner, whether they're coming out of pocket or not. I would say that's what we're talking about here is this bulk internet.

Ed Mathews

Yep.

Adam Bell

There's a lot of people that provide bulk internet. Not everyone provides experience. And what we realize at Internet Subway is that residents get the internet, but the property teams deal with it, the property owners see the financials. So there's really three distinct groups of stakeholders that are ultimately the users and the people who, see the outcomes of the service that we deliver. We, we run a business within a business that is a multifamily community, and having respect for that is, has always been core, is, core to our DNA,

Ed Mathews

yeah. I saw something I can't remember where I saw it, but it was, had something to do with managed wifi isn't all it's cracked up to be. And so I'm curious, you started to allude to it and I wanna get, I wanna drill into it a little bit. What do you think that industry, what do you think the industry's getting wrong? And, where do you see owners burning money thinking that they, they bought the right or wrong thing?

Adam Bell

So the thing about bulk internet service contracts is their long duration agreements. I am a big proponent of tech in general and providing the highest quality experiences that you possibly can. I'm not a proponent of giving everybody a Ferrari, but because in multifamily, the contracts are so long, five, seven, or 10 years, the equipment that goes out is gonna stay there for five, seven, or 10 years.

Ed Mathews

Yeah.

Adam Bell

And so it's important that you put the latest generation very late. It doesn't have to be expensive, doesn't have to be a Ferrari, but the latest generation of WiFi equipment so that you can keep up with the Joneses. The particular article that you were referring to managed Wi-Fi isn't all that it's cracked up to be, focuses on one particular point. That particular point is that most managed Wi-Fi systems from 2020 through, even through 2025 have been delivered that systems that can deliver up to one gigabit per second.

Ed Mathews

Okay.

Adam Bell

Now let's take a hypothetical. That scenario I gave you where the owner is ch- is delivering a one gigabit per second internet service in 2026, they're charging$75. That's fine. I implore you if in 2030 do you think that they could still charge$75 in 2030 with the growth of AI, with the growth of demand, with the marketing of multi-gigabit services from the big providers around the country? I think there will be a compression in value, whether it's perceived or real of what one, what you can charge for one gigabit per second service. Yeah. The managed wifi systems that were installed three, four years ago, they might have five, seven years left on the contract, but they could only deliver up to one gig. So an owner may have underwritten a contract term with$50 of NOI from day one throughout the end of the term. But if your equipment can't support anything beyond a gig in three years or four years or five years, you cannot charge 75, you will not make$50 of NOI. And so that's managed WiFi isn't all that it's cracked up to be. I love managed WiFi. We love the experience that we can give. There are just better ways to do it today, and that's really the core of that article is the next generation managed WiFi the solution that we've put together offers the flexibility, the upgradeability, not the same price points. And so you get out of a lot of that trap that I described just now.

Ed Mathews

Yeah. It's interesting. You went exactly where I was about to go as well, and that is, technology is changing so fast, right? Speed, bandwidth, all of it. And so walk me through if I were buying a property today, right? I actually have a two-part question. So I'm gonna ask the first part about the acquisition and we'll get into the longer term stuff. So a- as a buyer of properties if I'm doing a, an acquisition and my due diligence process, I'm looking at bulk internet as part of, the process, w- tell me more about the traps, the existing contracts I gotta pay attention to, easements, wiring, all the stuff that I need to figure out to determine whether or not this is something that I need to either embrace, update, or worry about, as part of my due diligence process.

Adam Bell

Excellent question. That's probably the first thing you should worry about if you're looking at at acquiring a property and thinking there may be some sort of bulk internet play. You need to look at the existing agreements that you have. The Every property has internet service today. You would not have any residents living there if they did not have access to internet service. There is existing infrastructure in that property. There is an existing service provider on that property. The quality of the infrastructure and the qu- and the Whether that provider will provide you with a bulk option is a different story. Yeah. So the first thing that you should do is look at that agreement. Oftentimes, it's gonna be a retail agreement with a big incumbent provider, and it'll say something like,"Hey, we're, we have the right to market to your residence, and in return for the right to market to your residents, we'll give you a percentage of the revenue that we generate, and we'll give it back to you per quarter." That's a very common retail marketing agreement that they have in place with a lot of these properties. There isn't always a revenue share depending on the property size and that sort of thing. But that's they a retail agreement with an incumbent provider often says"We'll install this equipment. We'll maintain this network. You don't have to do anything as long as we can market to your residence and we can get what we need that, as long as we can get our customers and serve our service, then we'll give you a portion of the revenue." That makes it hands off for the property owner, but they're get- leaving a ton of value on the table.

Ed Mathews

Yeah. So say more

Adam Bell

about that. So if the owner so that's one way it could happen. The other way is that the property owner who built the property could be very smart and forward-looking and they could have i- invested in infrastructure and they could have run CAT6 and/or fiber to every unit and they might own it. In that case, they can select whatever provider they want to come in and use their infrastructure. So to, to more specifically answer your question, review your agreements, see who's in the building, who owns the infrastructure, and that sets the stage for whether you should pursue a bulk agreement or not. Okay. Like a small asterisk is that even if there is an agreement in place, there are often ways to work around them or to plan for when the agreement term is up.

Ed Mathews

Yeah. A lot of these have change of control type language built in, at least the s- the smart operators are doing that so that you sell the property, you can keep it or not as the acquirer. So hopefully that's part of it. So walk me through where you think this is going. We buy buildings, I buy buildings, and I'm, a minimum five-year hold some of them I'm keeping forever, right? But most of them are, a five-ish year hold. And so what does connectivity look like in a well-run multifamily asset, five years from now? What's the bet?

Adam Bell

Connectivity, connectivity will be ubiquitous in multifamily communities throughout. The first thing to realize is that the business that is that multifamily property, the LLC is a business. So they have IT needs, they have technology needs, and they are gonna continue to implement those tech- pieces of technology throughout the community because it increases experience, it reduces operating expenses, it provides flexibility. There's so many things that technology can improve at a multifamily community from access control to security cameras, to meters and monitors. There's a world of tech that we haven't even seen yet. It's not even rolled out yet. Having an internet foundation upon which you can layer all this PropTech is incredibly important. Yeah. So it The la- the other thing that I'll say that most owners of properties may not have thought about is there is value in owning fiber optic networks. There's a reason there are billions of dollars being invested in building fiber optic networks around the country, okay? You are in a rare position as a property owner to own a portion of that infrastructure. It is an infrastructure play. So you are the last mile and we'll build it if you don't want to own it, you can build it. There, there's a variety of ways, but that fiber network has value now that think about a property that only has coax, and that coax was installed 20 years ago. Someone wants to install fiber in that building because it is likely the last time fiber will be installed, period. 10 years from now, you have to ask, is someone else gonna build more fiber if I did it 10 years ago? No. So you are in control of the destiny, of the future of connectivity of that multifamily community if you are the one that installs that next fiber network. So I just want people to, who, the, our listeners to be thinking about that.

Ed Mathews

Yeah. So tell me more about that. Why am I the le- what makes me the last person who's going to install fiber? Like-

Adam Bell

Whoever does it next is likely the last person. So if there's only coax in there, the chances of anybody else doing an overbuild on top of a network that is already being run or operated the potential re- return on your investment for the next person is incredibly low. And I'll put it another way. 10 years from now, at the end of a bulk contract, for someone to install another fiber network, it would probably cost two times as much or more because it's 10 years from now- and materials are more expensive, right? And so it is a, that network technically appreciates in value throughout the duration of the term.

Ed Mathews

Got it. And yeah and also 10 years from now, fiber optic may not be the tech, right? So it-

Adam Bell

I think fiber is the tech. I think there is- Okay. Fiber has a, fiber probably has a 30-year lifespan at a minimum. Everything that we do today is powered by fiber. So I don't see it going away. I see it increasing in capacity, but I don't see it going away.

Ed Mathews

So it's not going the way of the CDs when the DVDs show up?

Adam Bell

No, I don't th- I'm, I don't think so. I, w- look, wireless will be more ubiquitous.

Ed Mathews

Sure.

Adam Bell

But it will still need to be fed by connectivity- Yeah. and that connectivity is general- is gonna be fiber fed somehow.

Ed Mathews

Yeah. It's not like we're gonna get the w- actually, I was just about to say, it's not like we're gonna get the wifi from space, but-

Adam Bell

We are.

Ed Mathews

We are. Yeah. But yeah but nevertheless, yeah, I hear you. They, there still needs to be a way to receive and there's still need because each one of those units to catch Starlink is what we're talking about here, folks. Yeah. Each one of those units to catch Elon's Wi-Fi signal costs about, what, two, three grand last I checked.

Adam Bell

And that's assuming that there was a way that the satellite signals could penetrate multifamily buildings. Yeah. The more likely reality is that you would put a large satellite on the roof and then you would still have to distribute it through the building, so you still need the fiber to get to the units.

Ed Mathews

Right. Good point. So walk me through the, the next step. All right. So I am a building owner so I'm a value add guy, right? I'm, I get- Yeah. and I buy crappy apartment buildings from landlords who really aren't that good at their jobs. We go in, we clean everything up, and then we update everything, right? And that includes, in a lot of cases, it includes wiring because, knob and tube is still a real thing here in New England, right? Yep. And so if we're doing the wiring, might as well do the internet stu- the internet stuff as well. And so when I look for a partner i- in that, am I hiring you to provide the service or am I also hiring you and your team to, to do the build out?

Adam Bell

Both. So we will do either. If you already have infrastructure that we're capable of utilizing, we're happy to do that, right? We're not gonna force CapEx down your throat if you already have the appropriate infrastructure. Appreciate that. If you don't, then we'll c- then we'll come up with a plan to install what you need. And it's a collaborative process where we, tour the property we do an in- depth survey, we put together a network design, and then we talk to you and share,"Hey, here's what we would build," and then we build it.

Ed Mathews

Yeah. And then from a depreciation perspective obviously if I'm going down the CapEx route with the big, beautiful bill, that also probably helps me out from a tax perspective.

Adam Bell

Year one, year one is, you get to take it all up front. So it is it looks more and more attractive to do that based on that. You can, you get to write it off. And like I said, it actually appreciates. So you can take the depreciation on paper, but it actually will appreciate in value over return.

Ed Mathews

Yeah. So let me make sure I'm clear on that. So walk me through the appreciation factor. Help me

Adam Bell

understand. So in 10 years from now, if I'm any Okay, let's, let me say this. If you build a fiber network in your community and you sign a bulk agreement and provide, and give a company like Internet Subway the right to use your infrastructure for 10 years-

Ed Mathews

Yeah.

Adam Bell

at the end of 10 years, somebody wants to service that community and they want to do it with fiber. No one wants to use the legacy coax.

Ed Mathews

Right.

Adam Bell

So if I'm a big provider, their choices were to be, to talk to you and say,"Can I use your network," which you would have the choice to do or wi- in which case you would get a good price because you own the network, or you could say"You could buy my network, and the value of that network would be more than you paid for it because they couldn't build their own for less."

Ed Mathews

As time goes on, time value and money, right? Correct. Okay. I

Adam Bell

get it. Yeah. And labor and material costs in general for, they're just gonna continue to grow.

Ed Mathews

Yeah. They don't go down, unfortunately. All right, cool. So let me ask you this. What question am I, and am I not asking you that I should be asking you about this? What are the, what

Adam Bell

am I- Okay. So I just, we haven't talked about experience. We talked a lot about money, and I know that money is very important, but the experience is really our differentiator, yeah. One of the things that happens at a regular retail property is a resident moves in, they move into an apartment without internet. They gotta call Verizon or Comcast or Cox and they gotta wait for them to show up and do the install, right? That's not a good experience. No. That's the first day this resident is moving in. Also, a lot of times, your property managers, they have to go and unlock a data closet or, interact with the installer. There, there's always something that you have to deal with, right? We flip the script, right? We don't want to be a burden to the day-to-day of the property. We wanna empower them to be better at their job. We've built PMS integrations. Like, when a resident signs a lease you put it in Yardi RealPage Entrata, whatever you're using our system automatically invites the resident, the property manager the leasing agent, they don't do anything. They just have to talk about,"Hey, you're gonna get an email activate your internet service." On the day they move in, it's ready to go. Resident doesn't have to do anything more. We consider our it's hard to come to grips with, but we are successful from a resident perspective if we never hear from them.

Ed Mathews

Right?

Adam Bell

If they never reach out to us, they move in, they live there for 12 months, they had a great time, they're they're buying a house, so they're moving out. We never heard from them.

Ed Mathews

Awesome. That

Adam Bell

means they're happy. How ourselves on the, how do I send all us on the back, and so it's a, it's an interesting place to be where success is driven by silence.

Ed Mathews

Yeah, that's a good thing. Yeah, it's it's, when we're taking over a building, it's interesting because we're actively pursuing all of the residents because, there's a reason why the property got sold and a lot of it has to do with challenges in the management, on the management side, which means the residents aren't happy, so we're looking to build a relationship. And, so those first 90 days are really important. So I wanna talk to them, but once we establish,"Hey, we care B, we're gonna do what we say we're gonna do, we're gonna do, and then C, when stuff breaks, call us, we'll come and fix it. And the, because humans, right? We break stuff. The but over the course of time, the, y- we've, we all, we've noticed that we hear from them less and less as they live in our buildings. And that is a key performance indicator of ours that we go, okay, we do check-ins, obviously, but if we're the one checking in rather than the one hearing from them that means our strategy and our management team are doing a good job, right? So-

Adam Bell

Yep.

Ed Mathews

Yeah.

Adam Bell

It's, and it, a lot of it is communication and being upfront, again I mentioned that we have three stakeholders. It's the residents, the property teams and the property owners and asset managers. Yeah. And each one of them has different needs and we try to make it so that they don't have to come looking for information. We present the information to them and deliver the information to them periodically so that they don't have to ask questions. We're here for them if we need them, but we try to s- we try to support not drag down the communities that we work with. We consider them partners. We don't like to be considered a vendor. We like to be considered a partner because our success is tied to the property success.

Ed Mathews

Yeah. And just for clarity, I think I know the answer to the question, but I'm gonna ask it anyway. Who's supporting the end user?

Adam Bell

We are, 100%. We don't want the property teams to have to do any of that. I- if a resident comes to the front de- to the leasing office and says,"Hey, my internet's not working," and the property's responsive,"I'm so sorry that's happening, but you should definitely get in touch with Internet Subway if you haven't already." Okay. But that's the first thing was, we reach out to us directly. We're tier- we want to help. That's our goal.

Ed Mathews

You, you're the tier one's help desk.

Adam Bell

Yeah. Yeah. Yeah. And the beauty of the system that we have is, it's amazing because we integrate with the property management software we know who the resident is and where they live and their phone number. When they call, our support team literally knows they're in this apartment at this community, here's who's calling, and here's the equipment that's on or offline in their unit. Nice. So we don't have to be like,"Hey, who are you? Where are you? What can we do for you? We're like,"Hey, so- sorry you're having trouble. Let's see if we can help you, yeah. And so it's just a much more prompt resolution.

Ed Mathews

That's good. Awesome. Okay, so let's get into the, to the final five.

Adam Bell

Sure.

Ed Mathews

I'm curious about, obviously you've been very successful. You in a lot of the businesses that you've created, this one in particular, and so congrats on that, by the way. Thank you. the but I'm curious at some point, the bills get paid, the kids' college education's all taken care of, the car payments are paid off, all that stuff, and nevertheless, you go to work on Monday morning. I look at that as purpose, and so I, I'm curious, what's that for you? What's your purpose? What do you get out of bed for on Mondays?

Adam Bell

I like a challenge. So I it's not that I set a high bar, it's that I'm always challenging myself to do more, to do better, to be better. And so ev- every day is a new challenge, right? In I love what I do because it's I'm a very much a tech nerd, and I look forward to the moments where I can interact with the tech. So it's a fun dance to be the CEO because I have a lot of roles and responsibilities that don't put me in front of the technology, but because we're an internet service provider, I'm constantly surrounded by the things that give me energy. And so it's- That's awesome. It's just fun to do what we're doing.

Ed Mathews

Yeah, in a few months, I'll have you back and we'll geek out on AI and all that too, but that's a different show. Yep. But I hear you on that. The, So I'm also always interested in leaders like yourself and the mentors that they've had along the way. So I, I'm curious about the best advice you ever got and who gave it to you.

Adam Bell

It probably something that came from my dad early on was that I am my harshest critic. And I tend to look down on, or think less of work that I've created or put effort into- Yeah. when from the outside, it might shine bright. And that's just something that I've always got to think about and, remind myself that I am always gonna be my harshest critic. And that's part of, why I stay motivated. I guess it feeds into my first response as well.

Ed Mathews

Sure. Yeah. And it's interesting. It's it's something I'm probably older than I'm pretty sure I'm older than you. And one of the things that I've learned very late in life, actually, because I too am a very harsh critic of myself is to give myself grace just a little bit, right?

Adam Bell

That's a good one.

Ed Mathews

and learning to do that I'm still learning to do that. But I know that I'm, once I'm, once you're aware of the problem, it becomes a little more manageable, and so I hear you on being your harshest critic. Speaking of critics I'm curious about, being a CEO of a company, you make, 50 decisions a day and you hope to get, 25 of them yeah? Yeah. And I'm curious about a decision that you've made over the course of your professional career that you look back on and go,"Ugh, knowing what I know now, I'd love to have that one back." And, what'd you do about it? How'd you handle it?

Adam Bell

I opened a restaurant and

Ed Mathews

what were you thinking?

Adam Bell

That wasn't the mistake. I actually, I enjoyed so much of it, okay? The mistake was the partner that I had started it with, and it was really understanding the value that each of us was gonna bring to the table. And just before you're going to strike up a long-term relationship with somebody, just make sure you know all about how it's gonna be working with them going forward. And so if I could take that moment in time back, I probably would've said you can do this on your own, and you can find what you need without that person."

Ed Mathews

So- Yeah I talk about it, and we even do this with our investors, right? We date before we get married, and especially with partners, right? And, and- Yeah. your significant others, obviously, but there's a reason why you don't go out on a first date. Some people do, but and no judgment.

Adam Bell

Get married the next.

Ed Mathews

Yeah. And get married, go out on Thursday night and you're married on Saturday, right? There's a reason people don't do that. Okay, cool. Yeah, that's excellent. That's excellent advice. What about the way you take in information? What's the book on your virtual or physical nightstand? And, who's the author? Who are you paying attention to these days?

Adam Bell

Right now, so we're an EOS organization entrepreneurial operating system, traction organization. We recently had our quarterly planning session, and our EOS coach recommended that we read The Confident Mind by Nate Zinzer. So I'm only a couple pages in, but that's what I'm reading right now.

Ed Mathews

Okay. I didn't, I'm not aware of that book, but I, it's going on the reading list immediately. So here's the cool part about having a show is I get to steal all of the interesting people that come on. I get to steal their reading lists as well, so I get to create my own reading list from the people that are smarter than me reading- Facebooks. So thank you for that one.

Adam Bell

That's how I get it too, is from listening to podcasts and- and hearing the other's recommendations.

Ed Mathews

Yeah, exactly. Obviously you've had several successful businesses. And so I think the definition of success in our lives as we get more advanced and accomplished more and stub our toe more and get older and all that I think the definition of success changes in our lives. And I'm curious where you are in, on your journey, how do you define success today?

Adam Bell

Success today, unf- fortunately or unfortunately is a day-by-day thing, right? I have days that feel more successful than others, and then the But if the question is looking back at life, what are the things that, feel like a success? It's overcoming those challenges. It's the journey. It's the things that I learned and earned and accomplished along the way. And so how do I stay motivated? It's and continuing to feel successful is you don't succeed all the time, so you learn from your failures and you keep pushing. And when you don't succeed, I almost feel like it's ti- it's time to try harder. And so that's again, why I like a challenge and every day is a new one.

Ed Mathews

Yeah. Love that. So when you're not saving Multi-family operators from crappy internet. What do you like to do for fun?

Adam Bell

Big foodie. So I really like, in Richmond, Virginia, there's a thriving restaurant scene, and so I really l- love to check out the new foods. I'm a big small plates appetizer guy. No, it's not uncommon to go to multiple restaurants and just try a couple of small plates in one night.

Ed Mathews

Yeah.

Adam Bell

Awesome. And then also, I'm a drummer, man. So I find a lot of my free time is spent just sitting in front of a drum set with headphones on and not thinking about everything else and focusing on limb independence and playing my rudiments correctly.

Ed Mathews

Oh, that's awesome. Yeah, I I look at dr- I watch I pay attention to Drumio online and there's a Spanish gentleman, I'm not gonna get his name right, but he i- I follow him really-

Adam Bell

He's incre- he's incredible.

Ed Mathews

You know who he's already. He's unbelievable, right?

Adam Bell

Yeah. Yeah. It's

Ed Mathews

fun. I wish that's like- yeah I'm not gonna get his name right, but I marvel at at how drummers play, for one thing, because I suck at it, but but also the ones who are exceptional,

Adam Bell

He's borderline unbelievable. He's like a drum machine.

Ed Mathews

Yeah, I don't think he's human. I think he's a space alien. But but anyway so if people wanna get in touch with you, what's the best way to do that?

Adam Bell

I've got a website, it's got all my contact info on it, adamloydb.com. That's also my LinkedIn handle at AdamLloydB. Also you can email me adam@ismultifamily.com.

Ed Mathews

Awesome. Adam Bell, Internet Subway. Thank you so much for joining us today. Hey, man, it was a pleasure to speak with you and continue to good fortune.

Adam Bell

Ed, thanks for having me. It was a pleasure to talk.

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