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Summary
Our special guest this week is the prolific investor Brian Burke.
We take a deep dive into how to become a super successful hands off investor. Brian provides some fantastic free advice on how to set yourself up for success, avoiding those common passive pitfalls and how to work with amazing partners that are going to get you the returns you truly deserve.
Over the course of a real estate investment career that began in 1989, the offerings Brian manages have acquired over 750 properties, including over 3,000 multifamily units, with the assistance of proprietary software that he wrote himself. Acquired asset classes include single family homes, self storage, mixed-use and large apartment complexes in multiple states. Brian has arranged well over $500 million in debt and equity for Praxis acquisitions.
Don’t miss this incredible episode that gives you, or contributes to, your knowledge and experience of passive investing. Jump in and join the Investor Mindset community!
KEY TAKEAWAYS
- One of the first things to learn: how to look at a sponsor and know if they’re going to be successful in carrying out the business plan.
- Look at their track record, full cycle experience, general experience and team.
- Analyze if the investment is suitable for your goals.
- Make sure the sponsors business plan makes sense. Example: don’t invest in a new hotel building during a COVID crisis!
- It’s vital that before you sign on the dotted line you check all the offering documents to make sure there’s no hidden “gotcha” terms such as high fees and bad profit splits.
- Look at the fee structures that the sponsors are charging such as the asset management fee: it’s 1%… of what?
- Passive investing is only passive AFTER you’ve invested the money. Before that you should be working hard to find excellent partners and deals.
- Quarterly reports: look to see if the sponsor is hiding bad debt on the balance sheet.
- Diversify your portfolio.
BOOKS
Rich Dad Poor Dad
https://amzn.to/3iUPu9Y
The Hands-Off Investor – Brian Burke
https://amzn.to/3l3pECX
LINKS
https://www.linkedin.com/in/praxiscapital/
https://www.facebook.com/syndicationbook/
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About The Show
What separates those who succeed from failures? Join thousands of listeners who learn the mindset of real estate investing and how to create multiple income streams. From busy professionals interested in passive investing or the real estate entrepreneurs who are primed to scale all come together to learn the mindset of creating financial and time freedom.
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YOUR HOST:
Steven Pesavento
The Investor Mindset Podcast & President VonFinch Capital
Steven Pesavento has always been obsessed with understanding how we can think better, how we can be better and how we can do better. He is an active real estate investor who curates Commercial Real Estate Investments for clients.
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