10 Years Until Profitability To Acquiring $500-Million In Real Estate - Brian Burke
Brian Burke has acquired over half a billion dollars’ worth of real estate over a 30-year career, including over 3,000 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 President / CEO of Praxis Capital and the author of The Hands-Off Investor: An Insider’s Guide to Investing in Passive Real Estate Syndications.
[00:01 – 08:35] Opening Segment
- I introduce and welcome our guest, Brian Burke.
- Brian talks about what he and Praxis Capital has been up to
- Quick plug to Brian’s book title “The Hands-Off Investor.”
- Grab a copy on www.biggerpockets.com/syndicationbook for bonus content offered by the publisher.
[08:36 – 24:13] Struggle of Building a Business
- Why real estate?
- Brian shares his journey to investing in real estate
- Brian shares a story from his first job working at a grocery store
- DBA – filing a fictitious business name until you find interested investors
- Quitting his job and transitioning to being a full-time real estate investor
[24:14 – 34:25] Acquiring $500-Million in Real Estate
- Brian talks about his “AHA!” moment.
- Brian shares the process of building up their portfolio.
- A 10-year long journey to profitability
[34:26 – 48:02] The Hands-Off Investor
- Why did you get involved in BiggerPockets?
- Writing his book titled “The Hands-Off Investor.”
- Brian’s advice to a passive investor looking to invest with an operator
[48:03 – 53:31] The Contrarian 3-Pack
- What would you say is the most contrarian investment you’ve made?
- Foreclosures
- What’s your favorite activity to do with your friends and family outside of work?
- Flying airplanes
- What actions, whether within work or family, offer you the most fulfillment in life?
- The life I’ve created at home and the things that I’ve been able to see my investors benefit from.
- Get in touch with Brian. See the links below.
Tweetable Quotes:
“Once in a while, you’re gonna go through some challenging times and some difficulty. Ultimately, it’s a growth opportunity, and I wouldn’t be where I am today or who I am today if I didn’t go through those challenges.” – Brian Burke
“If I could educate [investors] a little bit on kinda what to look for and what’s important and what’s not important. That’ll help people avoid some of the mistakes that they otherwise would make.” – Brian Burke
Resources Mentioned:
Get in touch with Brian on BiggerPockets, Instagram, and their website https://praxcap.com/. Interested investors can head over to http://investwithpraxis.com/.
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Think Different. Earn Different. Live Fulfilled.
