19. Finding the Right partners with Brian Burke

ABOUT BRIAN BURKE

Brian Burke is President / CEO of Praxis Capital Inc, a vertically integrated real estate private equity investment firm. He 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 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.

WHAT YOU WILL HEAR:

[01:25] His career background and journey to real estate

[04:35] Raising capital from his cop friends

[05:30] How he survived the great recession 

[06:49] Fundamentals of investing in a recession-proof market

[08:43] Flipping model and buying properties amidst market trends

[12:25] Ways to build a good track record

[14:02] Advice to someone who wants to invest

[14:55] Three Trust curves of Real estate

[19:40] Two ways to approach the Real estate industry

[20:15] Criteria on finding business partners

[22:30] How he found the right partner

[24:00] Benefits of having the right partnership

[29:13] What Multi-partners bring to the table

[33:50] Advice to his-25-year-old self

[34:18] First Entrepreneurial Endeavor

[36:14] How his formal and informal training shaped his journey

[38:00] Hiring experts that are out of your league

[38:50] The Deal that got away

KEY QUOTES:

[14:55] You have to get across 3 different Trust Curves. The first trust curve is that they have to trust that real estate is a good place to invest money. The second is that they have to trust you and the third is the deal. You have to show them a deal where they can make money. So, if you can’t hit on three of those, you’re not raising money from anyone.

[19:55] The two different ways to approach this business is that you can either start small then grow it or you can try to go straight to the top, but the failure rate for choice B is a lot higher.  

[22:10] The last thing you need is yourself for a partner, because that adds no value. You need someone to bring something that you don’t have. If you can find the right partner, you can go from a small-time business person that no one’s ever heard of to someone who’s in the front page of a newspaper.

SUMMARY OF BUSINESS:

Praxis Capital, Inc. is a vertically integrated real estate private equity investment firm that combines an entrepreneurial approach with an institutional infrastructure. The executive team at Praxis combines more than 100 years and $5 billion of experience in the multifamily sector; including ownership and/or management of over 100,000 apartment units. With over $200 million in assets under management, the focus at Praxis is to implement both tactical and strategic models to acquire underperforming residential real estate assets in US growth markets that we can transform through renovation and repositioning. At Praxis, we aren’t content merely to see opportunities others don’t. Or to simply seize opportunities others can’t. We believe in “creating” value…and we have done just that over 750 times since 2001.

ABOUT THE WESTSIDE INVESTORS NETWORK   

  The Westside Investors Network, is your community for investing knowledge for growth. For real estate professionals by real estate professionals. This show is focused on the next step in your career... investing, for those starting with nothing to multifamily syndication.   

The Westside Investors Network strives to bring knowledge and education to the real estate professional that is seeking to gain more freedom in their life. The host's AJ and Chris Shepard, are committed to sharing the wealth of knowledge that they have gained throughout the years to allow others the opportunity to learn and grow in their investing.   They own Uptown Properties, a successful Property Management and Brokerage Company. If you are interested in Property Management in the Portland Metro or Bend Metro Areas please visit www.uptownpm.com. If you are interested in investing in multifamily syndication please visit www.uptownsyndication.com. 

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You may contact Brian Burke via:

Email: [email protected]

LinkedIn: www.linkedin.com/company/praxcap 

Website: www.PraxCap.com 

Biggerpockets: www.BiggerPockets.com/SyndicationBook 

Social Media:

▪ Instagram: @praxcap/ @investorbrianburke

▪ Facebook: @praxcap/ 

▪ Twitter: @praxcap 

CONNECT WITH US

For more information about investing with AJ and Chris:

 ·       Uptown Syndication | https://www.uptownsyndication.com/

·       LinkedIn | https://www.linkedin.com/company/71673294/admin/

For information on Portland Property Management:

·       Uptown Properties | http://www.uptownpm.com

·       Youtube |