David Adelman went from bar mitzvah investor to Campus Apartments CEO - Business Insider

, then 11 years old, was playing a game of basketball with his family friend, his "uncle" Alan Horwitz. They made a bet that if David lost, he would help out at the off-campus student housing company Alan had founded,"Most adults let an 11-year-old kid win, but my 'Uncle Al' thought it was very important to learn responsibility and I wound up losing," Adelman told Business Insider. Losing meant he had to work to earn back his basketball, football, and baseball glove.

He was so fascinated that, two years later, he invested his $2,000 bar mitzvah money into a company building. At that point in time, Campus Apartments was serving just University of Pennsylvania students, and Adelman wanted to make it a national business. So in the late '90s, he approached his uncle with the idea.The response: "Look, to be honest with you, I'm kind of content with what we've done, if that is your aspiration, you should be in charge then."

In 1999, the company landed its first partnership redeveloping one of the University of Pennsylvania's buildings, providing the university with the expertise and capital needed to renovate it. By the next year, he explained, the company had taken over the property management of all the university's off-campus apartments. In the early 2000s, Adelman expanded Campus Apartments to three states: New Jersey, Ohio, and North Carolina.

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