E32 - How and Why Brian Burke Transitioned Out of Single Family and Into Multi-Family Syndications
Summary: Today, we are joined by Brian Burke of Praxis Capital to discuss how he pivoted his business out of the single-family sector into $10mm+ commercial real estate investments in multi-family. Since he started in 1989, Brian has managed over 700 properties, including over 1,500 multi-family units. He has overseen more than $300mm in debt and equity for Praxis acquisitions and their current portfolio exceeds $150mm of real estate under management. In this episode, we are going to discuss … - How the scalability of SFR can be a significantly limiting factor, especially if you are trying to build a career in real estate - This is something that comes up a lot in investor circles. Even if you are the best SRF operator in the world, it is naturally quite challenging to own more than 10 homes. - How our guest was able to re-position his strategy in order to take advantage of the opportunity in CRE all over the US - Due diligence items our guest uses when analyzing out of state properties - We also discuss an absolutely screaming deal in a highly competitive market, as well as some of the details of that transaction Contact our guest: https://praxcap.com Also, if you have been patiently waiting for the CRE due diligence ebook – it is now READY for your reading pleasure. In this eBook we cover… - What are the most important first steps of CRE due diligence? - How to estimate how aggressive your sponsors are being in their assumptions? - How can you ask sophisticated questions so that sponsors know you are taking your investment seriously? - We also go through several key asset-class-specific due diligence takeaways for mobile home parks, multi-family apartments, retail shopping centers, and self-storage. Download your copy by signing up for an account with CFC: https://cashflowconnections.com/accredited-investor-questionnaire/ Subscribe in iTunes: https://itunes.apple.com/us/podcast/cash-flow-connections-real-estate-podcast/id1193877994?mt=2
