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Multifamily Missteps Hosted by Christy Keeton
Are you tired of the "rainbows and butterflies" approach in multifamily investing, where everything unfolds seamlessly, and everybody wins? You never see “behind the scenes” reality.
If you resonate with our perspective, acknowledging that true insights emerge from navigating mistakes and challenges, then you're in the right place.
Join Christy Keeton, your host, as she dives into the missteps and lessons learned encountered by active apartment operators.
In these episodes, we embark on a journey to dissect and analyze the pitfalls within the multifamily project life cycle, focusing on the crucial stages of Finding, Funding, Fixing, or Flipping a project.
Instead of glossing over setbacks, we shine a spotlight on them, providing a valuable learning experience for our audience. Each episode concludes not only by revealing how the issue at hand was rectified but also by sharing other priceless lessons derived from the experience.
It's an unfiltered exploration of the multifamily investment landscape, revealing the intricate tapestry of challenges and solutions that make the journey worthwhile.
Multifamily Missteps Hosted by Christy Keeton
My Reputation is Worth More than Money - Brian Burke
Today I had the pleasure of speaking with the President / CEO of Praxis Capital Inc, Brian Burke.
Let’s jump into Brian’s story of how reputation is worth more than money and what real estate investing is all about
Things you will learn in this episode:
[00:01 - 04:03] Opening Segment
- Brian talks about his background and his real estate journey
- Connect with Brian, see below for the links.
- How he started in multifamily
[04:04 - 15:54] How Brian Handles Economic Challenge During The Recession
- Brian discusses how he strategizes to gain access to capital in the midst of the recession
- Brian recalls where the real estate began collapsing in the year 2005
- Lehman Brothers, Bear Stearns, and stocks markets collapsed
- People started losing jobs resulted from them to stopped paying rent, got evicted, or moved out
- Brian shares how he handles the issues during the economic challenge when the real estate business came crashing down
[15:55 - 21:30] My Reputation is Worth More Than Money
- Brian shares lessons you need to avoid when it comes to real estate investments
- Brian gives powerful words of wisdom in times of global pandemic
- “Take the lesson that I’ve learned from the last economic challenge and apply them to this one”
- “Use conservative leverage, use conservative assumptions when you're underwriting”
- “Never worry about being too pessimistic”
Tweetable Quotes:
“Don't use so much leverage” -Brian Burke
“Without reputation, you have nothing” -Brian Burke
You can connect with Brian on LinkedIn, visit his company website https://praxcap.com/ or you can also reach him on https://www.biggerpockets.com/forums
LEAVE A REVIEW + help someone who wants to learn more from mistakes and missteps by sharing this episode or click here to listen to our previous episodes.
If you are interested in getting into multifamily or scaling your current business, hop over to our website myersmethod.com to grab your free four-step guide on how to get the ball rolling!
Support the show by following our Facebook Page (https://facebook.com/groups/157335752156211)
Are you feeling overwhelmed with Multifamily deal analysis? Are you uncertain about the right investment? Christy is an expert underwriter and mentor and wants help you on your journey! Visit her website at www.ChristyKeeton.com to book a discovery call now.
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