S01E01: From Police Officer to Successful Multifamily Investor With Brian Burke

Sep 12, 2022

Brian Burke, President/CEO of Praxis Capital Inc, shares his journey from being a police officer to a successful multifamily investor. He discusses raising capital, scaling up, and the day-to-day running of his company. The podcast covers topics such as Brian's unique story of getting into real estate, completing his first deal, and transitioning to multifamily investing. They also discuss the current state of the market and investment strategies, as well as determining the bottom of the market and investing strategies.

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Introduction

00:00 • 2min

Getting Started in Real Estate Investing

01:53 • 17min

Transitioning to Multifamily Investing

18:55 • 15min

The Current State of the Market and Investment Strategy

33:32 • 3min

View of the Housing Market and Future Plans

36:58 • 2min

Determining the Bottom of the Market and Investing Strategies

38:46 • 2min

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