Chris Seveney sits down with Brian Burke, seasoned real estate investor and author of “The Hands-Off Investor,” who shares his most valuable strategies on achieving real estate success. He discusses how to properly navigate the complexities of today’s market and avoid potential red flags all around you. Brian talks about the crucial role of due diligence in making informed investment decisions, shedding light on when to buy, sell, or step back. He also presents practical advice on safeguarding investments in today’s highly dynamic real estate landscape where trends could change instantly.

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Real Estate Success Secrets With Brian Burke

In this episode, we interviewed Brian Burke of Praxis Capital, also the author of The Hands-Off Investor. A book about questions to ask and really research when looking at investing as a passive investor. For those who don’t know Brian, he runs a multifamily firm. He has over 30 years of experience and it topped out at about 4,000 units.

Brian throughout his career has been able to really understand the markets. What I loved about this episode is we talked about what he did free financial crisis, free during COVID, where he was liquidating assets, and similar philosophies of why he knew the timing of the market. This was a great episode where Brian is just a wealth of knowledge on the real estate front.

I love the conversation as myself being in real estate for 25 plus years. I got to nerd out a little bit over some of the things we see, some of the things that we’ve seen go wrong, and some expectations of where we see the real estate market heading in the upcoming years. Definitely check out this episode. Actually, one of my favorites is having Brian on and really just talking about real estate syndications and where we see things headed. Hope you enjoy this episode of the show.

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Brian Burke, how are you doing today?

I’m doing great, Chris. Thanks for having me here.

It’s a pleasure to have you on the show. As we talk about real estate, which we both are very passionate about, as we both contribute pretty significantly to forums on bigger pockets. I mentioned the intro, you’ve got a lengthy past in real estate and also wrote a book about being a hands-off investor. Why don’t you tell people what you’re doing today? I’d also be interested in what spurred the book and what got you in real estate. You can start where you are today, but then let us know how you got to where you are today.

Current Real Estate Strategy

Where I am today is I’m not doing a lot because the commercial real estate market started collapsing around 2022. About two and a half years ago. Just prior to that, I started selling most of my multifamily portfolio. I sold 3000 of the 4,000 units I had between 21 and 22, right before the market started tanking.

Since then, of course, managing the hell out of the thousand units we do still have, but not having to spend a lot of time looking for additional assets because there was just no viable thesis for making new investments in multifamily over the last couple of years, which has resulted in the first time in my 35 year real estate career that I’m not running a hundred miles an hour with my hair on fire. I’m actually really liking that. I like to tell people that there’s a good time to buy. There’s a good time to sell and there’s a good time to sit on the beach.

In real estate, there is a good time to buy, a good time to sell, and a good time to sit on the beach. Share on X

This is a good time to sit on the beach for the last couple of years. I’ve been making good on that promise. I like to follow my own advice. How I got here, of course, came through really a lot of the stuff you talked about in the intro, but I started out as a house flipper 35 years ago and grew my business into multifamily about 20 years ago and have been investing in multifamily ever since. We’ve got a broad client base of high-net-worth investors that have invested with us. I’m just here to produce a result for them. If I don’t think the market is conducive to producing a result like that, then I sit on the sidelines and watch all the shenanigans from the grandstands.

It’s interesting that you mentioned the time to buy time to sell and a ticket holder and watching the game go on because there are a lot of people out there either pushing, “You should sell or now’s the time to buy, or start raising money to buy new assets.” I’m of a similar opinion as you are let’s continue at the dust set a little bit because there’s still, I think, a lot to be settled in that standpoint. One interesting question I do want to ask you though, based on you mentioned you sold a lot of your units prior to 2022, is do you think you’ll buy any of them back less than you sold?

I was involved in a construction project back in the early 2000s or actually late ‘90s. An apartment developer developed it. Got it 95% occupied. Sold it for a ridiculous price. As the market turned, I think it might have been 2001 or 2002 when it slightly started to come down because of the tech bust, bought it back at like 60 cents on the dollar and turned around and sold it again in like 2006 for like more money. I’m just curious. Do you think you’ll end up in a similar situation where the potential might be an opportunity to pick up something that you sold?

Probably not. I’ve actually done that before. That is an interesting strategy and we did have one property that we made an offer on and got it accepted in 2021. The seller at the last minute decided, “We’re not going to sell, we’re just going to keep it and sell it for more next year because your offer really isn’t high enough.” I was a little frustrated with them at the time, but I couldn’t be more glad now. Here we are two and a half years later, they came back to us wanting to know, “We still own it. Will you still buy it?”

We made another offer of $20 million less than our previous offer. That wouldn’t be quite a buy it, sell it, and buy it back, but it would have been an interesting story if they had accepted this latest offer, which they didn’t. I have had the opportunity to buy back property before. This time I don’t think it’s going to happen. We’ve had three of the properties that we sold the buyers have come back wanting to know if we would buy it, not realizing we were the ones that sold it to them and we declined in both cases because they’re trying to sell them for the loan amount and the properties aren’t even worth the loan amount.

Maybe down the line values could come down low enough and lenders could get desperate enough that we could see ourselves buying something back. A lot of the stuff we sold, in addition to market reasons that we saw that the market was going to have some issues and it was a really opportune time to be a seller. Part of the strategy of selling had to do with the fact that we were changing the style of properties we were interested in. Now my oldest property was built in 2000. We used to buy ‘80s products. We had some ‘70s products and we just don’t do those older projects anymore. Now we’re primarily focused on more Class A and newer stuff. Would I want to get back into that business? Not enthusiastically.

Everybody can be a Monday morning quarterback and it’s easy to look in a crystal ball from the past. You mentioned several strategies. One is you’re just changing asset class, but you hinted that you thought you saw some cracks in the market. Back when you were looking at things three years ago, what are some of the things that made you view the risk profile on these assets was increasing? Was it interest rates or was it just the price things were selling for or some of the things that you saw back then that were creating a concern for you?

Market Signs That Prompted A Selling Strategy

Interest rates really had nothing to do with it because at the time we were selling interest rates were still quite good. They hadn’t started going up yet. What was concerning to me was when we were trying to buy stuff, we were getting outbid by millions and millions of dollars by other bidders who were putting up seven-figure non-refundable earnest money deposits. It’s like, “If people are willing to do that, maybe they’d be willing to do that for some of our properties.”

Lo and behold, we got an unsolicited offer on something that was way above what we would think it should ever sell for, so we took that offer and then decided to start seeing if we could get similar results with some of our other assets in our portfolio. We started strategically and intentionally selling them and we were getting those results. We were getting incredible prices. Really what a lot of it had to do with was an observed irrational exuberance on behalf of buyers in the marketplace, where the best time to be a seller is when everyone wants to be a buyer. In 21 and 22, everyone wanted to be a buyer. If they want to pay exorbitant prices for our assets, far be it for me to stop them.

It reminds me of a story where in 2004, I was up in New England working for this commercial general contractor and that a Florida office as well. That was the time when high-rise multifamily condos were booming in Miami. There are tower cranes everywhere. During one of the quarterly meetings, the owner of the company made an announcement “We’re not doing any more multifamily in Florida. We’re going to pause multifamily in Florida.” Caught everybody off guard because it’s like, “Why wouldn’t you?”

He told a story that he met with two developers who were just out of college, they had no construction experience, they had entitlements, and ground under contract and they had bank financing and mezzanine financing to build 250 units. These people had zero experience, no idea what they were doing, and no idea whether the numbers worked. He realized that if it’s that easy to get money, then anybody can do it, people are going to be in a lot of trouble down the line. He was right. I mean Miami was one of the harder-hit. The reason people say, “Why’d you still get out?”

The point comes in time where half those projects stalled or didn’t get completed and as a contractor, how do you get paid if they file bankruptcy? That was something that he looked into. It seems just very similar to what you were saying when things seem too easy and I think most people think real estate was pretty easy to last several years, where you could have been out on a boat on an island with no internet and made money. People get lax or relaxed and it’s like, “I can do this, this is easy.” I think that’s something I see. I’m curious if that’s something, not only in the commercial side of things but in residential on people you talk to. Is that something you think you’ve seen over the last few years?

Lessons From The 2004 Housing Market Bubble

Without question, yeah. That had something to do with our decision to sell too, looking at what the buyer profile was. We could tell because we’re getting offers on our properties. Of course, you ask for buyer resumes and you see that these people really have no experience, they’re raising money from people who shouldn’t be trusting them with their money. To your point, it was getting a little too easy and that means that it’s a really good time to be a seller. I saw the same thing in 2004 and 2005 with the residential real estate market when I was a house flipper, the same thing where inexperienced investors were coming to real estate club meetings and going like, “I got to get a rental house to buy.”

I’m like, “Why? They’re $500,000 and they rent for 1500 a month. What’s the point?” People had to have them. My plumber made a million dollars in a year on his house. That’s when you realize, “It’s time to get out.” I stopped buying houses in late 2003 and barely just bought just a few in 2004 and 2005, and then the market started tumbling in late 2005, and early 2006. I missed a lot of that downturn because you could see that there’s going to be a lot of trouble down the road. These signs and symptoms appear every time this stuff happens. It really was no surprise. I’d seen it before. Again, that’s part of the reason why I started selling.

I think it gets amplified on the multifamily side because there’s that syndication out of Texas Apples Way or whatever it was that had lots of trouble and they went under. When you go and look at the resumes of the people who are affiliated with that didn’t have a real estate background. I think they came from the IT world. I remember when it came into the news, the first thing I did was I went to the website and I just liked looking into it. You’ve written a book on the hands-off investor and done a lot of education for people on, how to invest passively. I like to share stories of, “What are the mistakes that do the autopsy?”

The first thing that I did is when I went to the website, I looked up the two sponsors and it’s like, “Where’s the real estate experience?” They had asset managers. The asset managers, you click on their LinkedIn profile and they are virtual assistants. I’m like, an asset manager and a virtual assistant are two very different things for anybody who knows real estate. I use that to share with people. I said, “If you’re going to look to invest in somebody, understand what their background is. It’s no different than when you go to get a surgery or knee surgery. Like you want a guy who’s basically never done it before. I wouldn’t.” That’s very similar to that investment strategy. Would you agree?

Are you saying that all that I’m hearing about, I can quit my job, with no experience in real estate, raise money from investors that don’t know any better, and work the four-hour work week by delegating all of my duties to an offshore VA, that’s not really a thing?

Today it’s you don’t even need the VA because AI will just do that. You don’t even need the VA. It’s interesting though. You bring that up because I know people who I’m friends with. Again, I invest mostly in defaulted notes. When I left my full-time job, I had it planned out with my wife on how much money we have set aside and really had a strategic plan to be very conservative because when you go into real estate it’s not a stream of your W-2 of money coming in the door. You might have good months, you have bad months.

I’ve had people who have left their jobs to basically do, “I’m going to go start a fund. I’m going to go raise money.” They realize like, “Great, I raised a million dollars.” It’s like, “That’s from your friends and family.” The next hit after you hit your friends and family is, “Now how do I move it and they cannot?” They realize, “I got a 2% fee, so I’m making $20,000 a year. Now what do I do?” They get caught. I mean if someone wants to pay me $20,000 to have me spend a weekend with them, to tell them that they can go quit their job, I’ll happily do it. I’ll take a credit card and at the end, I’ll charge you another 40 to show you how to get back to your job after you fail which is probably what a lot of these gurus do.

It’s mind-blowing to me. That’s unfortunate too. It’s like celebrities, it’s like people, they’re making more money, some of these gurus being a guru than you will in real estate because people go pay them $25,000, $50,000. To me, I pulled my hair out because I went back it was more for fun during COVID to go get a master’s. Now I went Georgetown, did it over two years and I think it cost me like $25,000, $30,000 and I’m like, “I’m learning for professors who 40 years experience running billion dollar funds and talking with them where you’re going to pay some guru $25,000 and what’s this person actually done?” The person is 28 years old.

It’s a tougher business than a lot of people realize. When you said that they have good months and bad months, I’d counter that to say you have good years and bad years even. There are times when you might go a year or two years without making any money and you’ve got to be ready for that and set aside enough capital to run your life in preparation for those rougher years because they are out there.

There will be years when you cannot make any money. Set aside enough capital to prepare for those rougher years because they are out there. Share on X

I knew going in when I started that I wasn’t going to make money my first two years in investing in doing what I was doing, or if I did, it was just going to get reinvested in. When you see people say, “You’re going to make a quarter million dollars your first year.” I’m like, “How?”

It’s easy. You just charge a huge acquisition fee and then there you go. That’s actually true, but if subsequently you just lose the property in foreclosure. Now you’re done, you’re out of business. You’re never going back. You got investors suing you. There’s all kinds of difficulty. There is a downside and a risk to this business that I think is underappreciated. It’s a serious business. It’s a business for people who are here to perform for their investors, safeguard capital, and make smart investments, not just to earn fees, raise money, and own the most units. Your motivation for being in this business really makes a big difference.

Now, talking about that, you’ve written a book, The Hands Off Investor, about the guide for investing passively in syndications and stuff, and everybody that I know, basically, when they talk to people about, “How can I learn more about investing passively?” Now that’s the book everyone points to. A, congratulations on that. My question to you is why did you write the book? What made you like, “It was one of these things where I want to do this.” Was it something you were seeing in the space or just people asking the same questions all the time? What was the motivation to write the book?

Writing ‘The Hands-Off Investor’

There were 2 or 3 main motivating reasons. One was I had a friend of mine who lost her entire life savings investing in a real estate syndication. I felt like if there was one thing I could do to prevent that from happening to somebody else, then it would be well worth the effort. Hopefully, this book has done that for somebody. Hopefully, somebody didn’t invest in one of these deals that has come crashing down in a ball of flames and I’ve maybe prevented that from happening to someone. That was part of the motivation.

The other part of the motivation was as a real estate syndication sponsor and a passive investor myself, but as mostly as a syndication sponsor, I talked to a lot of passive investors and they asked a lot of questions about our offerings and other people’s offerings. I noticed that the questions that they were asking were, largely, the wrong questions. They weren’t asking what was really important. They’re asking about things they think might be important, but they’re missing a lot of the truly important stuff.

That prompted me to look into like, “Why does that happen? Why are so-called accredited investors, very smart people, college-educated degrees, like Ivy League, why aren’t they asking the right questions?” What I found was there really was no source for people to learn how to invest passively and ask the right questions. If you’re going to write a book on something, write a book that no one else has written. You can write. There are a thousand books on how to buy real estate with no money down or how to raise money or how to invest in apartments or all those kinds.

There are thousands of those books. Why would mine be any different? I wanted to fill a hole that was unmet and that was to write about something no one else has written about. At the same time, all of this is happening. I’m watching other sponsors out there raising bucketloads of money. When I look at their offerings, I’m like, “These offerings are crap. I feel like I’m sitting here watching cattle get led to slaughter and there’s nothing I can do about it.

If I can at least help educate passive investors, maybe they’ll spot these things too, and they won’t fund these deals that are doomed for failure.” Unfortunately, I didn’t catch everyone because there are a lot of deals that are doomed and heading for trouble and a lot of them that have already been foreclosed and had a hundred percent wipeouts. I guess they say you cannot save them all, but certainly, hopefully, I can help contribute to that.

For me, I put the two buckets of categories. There’s the deal that the deal went bad and everyone has a bad deal. There are deals that are just completely fraudulent in regards to some companies out there that are just completely committed fraud or Ponzi schemes and stuff. One thing I think people need to sometimes temper a little bit is, and we see this a lot on forums, a deal goes bad or someone does a capital call and the first thing they go back to is, “This is a Ponzi scheme.”

I tell people, “Calm down first before accusing.” I always recommend don’t accuse somebody in a public forum of a Ponzi scheme, because if you damage your reputation and it could really come back to haunt you. Look into it, and understand what’s going on. I think one of the bigger challenges we see today is some of these syndications and funds that are having trouble is they just completely lack communication.

I don’t know if they’ve already got their fees, they don’t care, they’re trying to raise money somewhere else, whatever it is, or they’re embarrassed. I don’t know. To me, that’s where I’ve seen probably the most pain point is one thing, “Most people have experienced some type of investment that goes bad, whether it’s in the stock market or real estate or wherever, but at least you have an understanding of what’s going on.” Today, I see a lot of people not communicating. I wonder if it’s from lack of experience or I just don’t know.

Pitfalls Of Poor Communication In Syndications

I think that the lack of communication comes from a lot of sponsors who will bury their heads in the sand because they’re just incapable of delivering harsh reality, delivering bad news. They don’t want to do that. If they really say what’s going on, they’ll hurt their chances of raising money on their next deal. They try to kick the can down the road and hope that everything’s just going to be okay. I think that contributes to a lot of the communication problems.

A lot of people that got into this business were maybe okay, real estate investors, but not really fund managers. This is really a financial services business. It’s not a real estate business. You’re essentially like Chase Bank and Morgan Stanley. You’re a financial services business, not a real estate business anymore when you start taking money from people.

A lot of people don’t know how to treat it that way. Going back to another thing you were commenting on about how there was like everybody gets a bad deal once in a while. There’s that and then there’s fraud, but there’s also a third category. The third category is just deals that should never have been done. That goes beyond like everybody has a bad deal because that is actually true. Everybody has a bad deal, and there are also bad markets that affect everyone.

We’re experiencing that. We still own a thousand units. The real estate market or the multifamily market is terrible. Rent growth has gone negative, and that’s made things very challenging. If you navigate the challenges well, then you’ll survive it, but some people don’t know how to navigate the challenges well. There’s this other category of just simply deals that should never have been done.

These are the ones where they grossly overpaid for the asset. They financed it with high-leverage, short-term debt. They layered on preferred equity. They put in senior share classes where they had this split structure where their own investors were some were class A, some were class B. The class A’s are in front of the class B’s and all this other stuff. Basically, all they’re doing is they’re layering on additional elements of leverage and leverage does one thing.

It amplifies results. When results are really good, leverage will make the results incredible but when things are going bad, leverage will make it disastrous. That’s what we’re seeing a lot of. Those aren’t fraud and they’re not,” We had a bad deal.” Those are just deals that should never have been done or at least not structured the way they were structured. I think we’re seeing a lot of that these days. I think there are a lot of investors that are suffering as a result.

Sounds like some of the deals you sold probably may fit into that category.

Probably so.

We were talking about this briefly prior to the recording of people, just because you can raise money doesn’t mean that you should for a specific deal because if the deal is not a good deal, now are you forcing the issue? Is it really going to be better for you in the long term? Yes, great. I got the acquisition fees and the upfront fees but is that really in the best interest of your investors?

Even for you as a syndication sponsor. “I earned a fee, but now I’ve got five years of absolute hell in front of me because I’m going to have to explain to the investors why things aren’t working. I might have to tell them they’ve lost their money. I might have to deal with investor lawsuits and spend time in court and pay lawyers.” It’s just simply not worth it. You have to look beyond just whatever fee you might earn from this deal and put the investor’s interest in front of all of that. If you do that, you’ll make better decisions as a syndication sponsor because you’re only going to invest in something where you can be absolutely certain you’re not going to have to have those phone calls.

That’s a lot more uncomfortable than the comfort you’re going to get out of receiving any of those fees. I like to tell people, and I say this a lot, that it’s so much easier to buy a bad deal than to get out of a bad deal. It’s so much easier to lose a million dollars than it is to make a million dollars. I say this from experience, I’ve been through market cycles. I survived the great financial collapse without any investor losses. Only because I structured things better than what I see a lot of people structure things and I knew when to buy and when not to buy and when to sell and when to hold.

It is easier to buy a bad deal than get out of a bad deal. It is easier to lose a million dollars than to make a million dollars. Share on X

I think a lot of that is what contributed to that success. I had deals not with investors, but in my own portfolio, which I bought, which weren’t good deals and took me. I’ve had some 20 years trying to get out of deals. It’s very uncomfortable to get yourself into a bad deal where you have no exit. The acquisition fee isn’t worth it. It’s all about whether or not that deal is going to perform long-term for investors. That’s going to make your life as a sponsor a lot easier and it’s going to make it much better for your investors at the same time.

I love that comment about debt and then amplifying the results. The other comment you made really that hits home a little bit too is it’s easier to lose a million verses, make a million. With some of these deals, like you said how they keep stacking money on top of money. I actually watched your Big Short last week again because I was like, “I haven’t seen it in a while.”

You haven’t seen a movie. No, it’s got the Jenga blocks of the different tranches, and basically, it’s like the level of risk and where are you in that risk profile, but if you’re just stacking junk on top of junk it doesn’t matter. It seems like some of these syndications, that’s really what they were doing because the blocks themselves were faulty from the start. It didn’t matter how you layered them. They were going to essentially fail because it was a bad deal from the outset.

In a lot of cases, you had two different diseases that were taking place at the same time. One is the disease of inexperienced sponsors that didn’t have broad investor bases and the other is the disease of maybe a little bit more experienced, but really wanted to grow and were really focused on AUM and unit count. The result of both of those diseases was the same. What was happening was the newer people who didn’t have a broad investor base didn’t have a lot of depth to raise a lot of money in equity.

What they would do is repurpose bridge loans, which were intended to take a non-performing property that didn’t qualify for regular financing to a point where you could fix it up and make it qualify for regular financing and take out the bridge debt. They repurposed these bridge loans to become high-leverage vehicles for them to be able to acquire large properties while raising only a small amount of money.

The more experienced groups that were just focused on growth did the same thing for the same reason that they could raise less money for each deal and buy more deals. That I think is what’s contributing to a lot of the problems because if things go perfectly that strategy you can escape it and people did. They were doing this in 2017, and 2018 and getting away with it because 2019 and 2020 markets were up, and they could sell. When there’s a dislocation in the market, it’s going to expose all of that that’s going on and it’s going to result in massive distress. That’s what we’re seeing now and that’s how we got to where we are, I think.

When do you think you’ll see the light at the end of the tunnel on the multifamily side?

I think it’s a couple of years. I think construction is a headwind right now to rent growth. We’re starting to see starts are down by about half. Completions are still high because projects have been taking a long time to finish. That’s going to leave supply, I think, hanging until 2025. After that, I think we’re going to enter a period where there’s going to be a reduction in supply. New products will be lagging because it’s going to take a while to get anything off the ground.

That’s going to help on the rent growth front. Outside of that really to get transaction velocity, you have to have numbers that make sense. Part of the problem is right now there are still buyers who are buying at five caps in a 6% interest rate environment because they’re hopeful that next year we’re going to have 4% financing again. There’ll be a time I think when sellers are going to have to realize that those interest rates aren’t coming back and therefore cap rates are going to have to expand and they’re going to have to sell at a higher cap rate.

Buyers are going to have to realize they cannot keep hoping for lower rates. They’re going to have to buy at higher cap rates and pricing will end up resetting to reality, not to hope and prayer. When that happens, I think numbers will make sense. Rent growth will make a comeback and these deals will start to be viable again. I don’t think we’re there yet.

 

I agree with you because I’ve heard people think, “Again, it was an election year, whoever goes in there is going to fix housing or do this by early next year.” I’m sitting here thinking, “I don’t foresee anything really changing next year.” Understanding real estate is a slow-moving drain that 2020 used to survive to 2025. Now I think you’re definitely going to want to survive past that because I still think we got a few years left of this because like you said, it’s going to have to reset because I cannot see how they’re going to get interest rates back down to 3.5, 4, 4.5 anytime soon. Now, especially with where the 10-year treasury is and people not wanting U.S. bonds because there are so many of them.

Maybe survive till 2025 has to be like it’s fixed at 2026 or 70 will thrive in 2027. I don’t know.

We can all guess. Nobody knows. That’s a reality. That’s really the point I want to make to people is nobody knows. It’s just a matter of so much can happen. It’s a macroeconomy with China bricks and some of these other countries and nations that something can happen that can really just throw everything upside down. If nothing happens and like it’s just where to pause across and like there are no major events. We still have a ways to go because there’s still some resetting that I think still needs to happen.

I agree with you. I look forward to that happening. That’s probably about the time you’ll see me back out there buying.

I think most of us would rather have it happen sooner rather than later. It’s like, “Let’s just get it over with.”

I am with you. I would agree with that. That would be nice, but I’m prepared. We’re fine. I don’t have to buy anything. I don’t have to do anything and I’ll be just fine. I’m waiting patiently. There’s a needle in every haystack, I like to say. There’s a deal to be done today if you can find the right seller and put together the right financing. To get any amount of reasonable transaction volume, I think we have to see a change in conditions and it’ll get here eventually. We’re ready for it.

 

As we wrap up this episode, Brian, how can people reach out to you?

Episode Wrap-up

They could do it a few ways. They could go to our website, PraxCap.com. You can find me on Bigger Pockets in the forums. Making posts alongside yours. We seem to comment in a lot of the same threads that I’ve seen. You can also follow me on Instagram @InvestorBrianBurke.

Brian, thanks for coming on this episode of the show. For everyone reading, make sure to like it and leave us a review. Thanks all for reading.

 

Important Links

• Brian Burke – LinkedIn
• Praxis Capital
• The Hands Off Investor
• Instagram – Brian Burke

 

About Brian Burke

Brian Burke is President / CEO of Praxis Capital Inc, a vertically integrated real estate private equity investment firm, which he founded in 2001.

Brian has acquired over 800 million dollars’ worth of real estate over a 35-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.