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 

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