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The sky is the limit for B&B Acquisitions
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Taking 15 hours of college course work is hard enough, but tack on owning and running two companies with nearly $3 million in investments, and being successful is only the tip of the iceberg.
Adam Blake, a junior entrepreneurial management and finance major at Texas Christian University (TCU), does just that. Blake started a real estate company, B&B Acquisitions LLC., as a college freshman in February 2004. He did this by purchasing and renting property to college students and has since expanded to property management, buying and selling for short-term gains, and commercial real estate investment and development. B&B Acquisitions/Blake Venture Corp. currently owns and manages an investment portfolio containing real property, stocks and options. Blake says he hopes to ultimately turn his newest business, Blake Venture Corp., into a real estate investment trust.

David Minor, director of the entrepreneurial program at TCU, says he has known Adam for a little over a year and is unique in comparison to other students because he is pursuing an entrepreneurial venture while in college.

“While we have many students who desire to someday be entrepreneurs, only a select few pursue this dream while in college,” says Minor.

Blake has also been awarded and recognized for his successes. In September, he won the Global Student Entrepreneur Award for the Sun Belt Region, which includes New Mexico, Texas, Oklahoma, Missouri and Louisiana. After traveling to Orlando to compete against other regional winners, he was named the 2005 Global Student Entrepreneur in October. The competition is sponsored by the Entrepreneur Center of St. Louis University in Missouri.

“I learned a lot while in Orlando, but most importantly, made some great connections with other like-minded entrepreneurial students,” says Blake.

 The honor is bestowed upon the top collegiate entrepreneur chosen from 18 U.S. and international regions.

“Adam is an excellent example of the type of innovative, talented students we hope to attract to our entrepreneurship program,” says Minor.

Blake’s distinction as the Global Student Entrepreneur earned him a check for $10,000 from the awards program for his business’ profitability, social responsibility, innovative approach, and all-around success and ethics in practice.

“I’m extremely pleased to have received this award,” says Blake. “The level of expertise and achievement of the entrepreneurial students in the competition makes the honor particularly gratifying to me. In regards to this award changing anything for my business, I don’t think it will really change anything, but if I do want to go to a top graduate school, it will certainly help.”

Blake says he became interested in business during high school when his father was laid off from his corporate job of 25 years. After that experience, Blake says, he simply did not want to depend on corporations or others for a job. He began reading entrepreneur and business books to “quench his thirst for knowledge.”

When he first came to TCU, he says he noticed how high rent was for students but how cheap houses were. He realized there was an opportunity to start his own business while providing affordable housing options for fellow students.

One of Blake’s former tenants, Steven Stroud, is a classmate. He describes Blake as a “very efficient” landlord.

“He wasn’t exactly the normal, stereotypical landlord, but myself and my housemates weren’t exactly stereotypical renters,” says Stroud. “Anytime there was a serious problem, it was fixed; and he communicated issues and problems to us, as we did to him. We kept a professional relationship, and also an understanding one. Adam seems to be very organized and productive with his business, and he has found the right market for it.”

For Blake, 20, his days are busy with schoolwork and with running his company. He says about 25 percent of his day is spent on schoolwork and classes, while the other 75 percent is concentrated on business.

And he says spending more than half of his time on his business has not adversely affected his schoolwork or his grade point average. He’s earned a 3.7 GPA and is currently taking entrepreneurship, accounting, investments, operations management, and money and banking.

Blake says he would like to eventually break into commercial real estate and leave the residential side of his business behind.

“I’m kind of getting bored with residential,” says Blake. “I like commercial, it’s more challenging and has a lot more opportunities. I would like to have my own [commercial real estate company], but at the same time, it’s such a hard industry to get into without any experience. I’m starting to find that out right now.”

Blake says that in the future he would like to be known for his success at a young age, but for now he prefers to stay out of the limelight.

“I don’t care too much for all the recognition,” he says. “It’s great, but I don’t want people to know just how successful my company is.”

Since Blake doesn’t want to brag about his achievements, his friends do it for him.

“Obviously he’s amazing because he goes to school and does what he does,” says Molly Bower, a childhood friend and a classmate of Blake’s. “He’s an excellent student. He’s so smart. He’s really focused on his schoolwork. You’d never know he does all this stuff.”

Born in San Francisco, Blake has lived in Chicago, Nashville and Kansas City. He made the move to Fort Worth after becoming a Horned Frog in 2003.

When he does find free time, Blake says he spends it reading real estate and business books, traveling, going out with friends and staying actively involved in the Phi Delta Theta fraternity.

“I think the sky is the limit for Adam,” says Minor.

BY CARA WEST
November 14, 2005

Click here to view article on Fort Worth Business Press website. 

 

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