In today's show we talk with Brian Burke, a house flipper and real estate investor from Northern California with a fantastic story and fascinating business model.
Two days ago, Brian wrote a wildly popular article on the BiggerPockets Blog titled, "Anatomy of the Grand Slam: How I Made $800,000 on One Flip" where he talked about flipping a large apartment complex using a combination of hard money and private capital he raised. In today's Podcast, we're going to look more in-depth at how Brian got started, the strategies he uses to flip over 100 houses per year, and how you can use the same techniques that he does to raise money for your next real estate deal.
Last week, the BiggerPockets Podcast reached #6 on the Top Business Podcasts in all of iTunes. This is an enormous honor and we want to just take a minute to thank everyone who has taken time to listen on iTunes or leave a review. As of today, we are up to 49 Five Star Reviews. If you haven't yet left us a review and want to help us out, please click here to leave a review in your iTunes player.
Read the transcript for Episode 3 with Brian Burke here.
Listen to the Podcast Here:
In This Week's Podcast We'll Explore:
How Brian started with no money, no experience, and without rich friends
How losing money on early deals helped grow Brian's business
Investing in real estate when you look 15 years old.
Why dealing with sellers is Brian's least favorite strategy for real estate investing
Brian, Brandon, and Josh's differing opinions on using credit cards to finance real estate
Why raising private capital is one of the most important jobs for an investor
Three tips for raising private capital
Why Richard Branson gets in a hot air balloon and sails around the world.
How Brian funds dozens of real estate flips per month
Using property managers to get you inside information
The one piece of advice new investors can't survive without.
Using partners to invest in real estate
Links from the Show
Reg D Offering
I.R.R. (Internal Rate of Return)
The Anatomy of the Grand Slam Flip
The BiggerPockets Radio Podcast 001 - Building a Successful House Flipping Business and Losing Millions with Marty Boardman
BiggerPockets Facebook Page
Tweetable Topics
"If you don't screw up – you don't learn."
(Tweet This!)
"They won't say yes if you don't ask."
(Tweet This!)
"Sometimes failure is your biggest boost."
(Tweet This!)
"Whether it's Harvard, Yale, or on the streets of real estate school – every lesson costs you money."
(Tweet This!)
"Sell yourself... the more track records your build, the easier you can raise capital."
(Tweet This!)
"If you want to change your situation, change your vocabulary."
(Tweet This!)
"A lot of this business is sounding like you're smart – but you've gotta back it up."
(Tweet This!)
"If you don't love your work – you'll never make it to the next level."
(Tweet This!)
Books Mentioned in the Podcast
Rich Dad Poor Dad
Real Leaders Don't Do PowerPoint
David Lindahl Books
Art of the Deal - Donald Trump
Art of the Comeback - Donald Trump
Think and Grow Rich – Napoleon Hill
About Brian
Brian Burke is co-founder and Managing Director of Praxis Capital, LLC,