Brian Burke is President / CEO of Praxis Capital Inc, a vertically integrated real estate private equity investment firm. Brian has acquired over 800 million dollars’ worth of real estate over a 30-year career including over 4,000 multifamily units and more than 700 single-family homes, with the assistance of proprietary software that he wrote himself. Brian has subdivided land, built homes, and constructed self-storage, but really prefers to reposition existing multifamily properties.
Brian is the author of The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications, and is a frequent public speaker at real estate conferences and events nationwide.
In our debut episode, Jonathan and Brian cover Brian’s previous life as a police officer, starting raising capital from the people you know and eventually scaling up from your initial network. Brain shares some of his keys learnings from getting investors on-board for multifamily deals as well as sharing some wisdom about the day-to-day of running his company.
www.PraxCap.com www.linkedin.com/company/praxcap www.linkedin.com/in/praxiscapital https://www.facebook.com/praxcap/ https://twitter.com/praxcap https://www.instagram.com/praxcap/ https://www.instagram.com/investorbrianburke Book: www.BiggerPockets.com/SyndicationBook
Key points:
(02:02) Brian recounts the unique story of how he got into RE (03:32) How did Brian complete his very first deal (04:55) Brian had a lot of grit from an early age (08:50) Brian was a police officer in another life before becoming an investor (10:15) How did Brian overcome his initial lack of capital for his first deals (13:58) Doing flips at the courthouse steps (14:31) The structure for Brian's first deal (16:56) Don't get analysis paralysis when trying to complete your first deal (19:13) After the initial deals, Brian scales up Brian faces the RE crash in the late 2000s (22:59) Brian's first multifamily deal (25:36) Transitioning your investors from fix and flips to multifamily Brian shares his method for bringing in investors (30:16) When is the right time to start delegating work (33:31) With respect to the market conditions in times like 2008 when things were weird, how does Brian see the current market? (36:57)The action-plan for the next couple of years (39:32) Closing thoughts & how to reach out to Brian
