I have been a long time lurker but I am now starting to take action with my real estate investing. I am doing some due diligence vetting Praxis Capitol (Brian Burke's company) and want to get feed back from anyone who has or is working with them. I had a very pleasant phone conversation with Bob (SVP of Praxis) a few days ago and his knowledge and approach was aligned with how I operate. I am looking to buy into one of their offerings in the near future using a SDIRA. Any feed back would be greatly appreciated.
We just made our first investment with them at the end of last year and can only say good things about them so far. Extremely communicative and Bob spent time over multiple phone calls answering specific questions I had concerning the deal. Their track record and seeing Brian Burke speak on multiple panels at the SF Bay Real Estate Summit in Oakland this summer made us feel confident in investing with them.
Its ironic Brian and I's backgrounds mirror each other ... other than I am about a decade older LOL
We both have strong North bay Ties.. I lived in Napa for a decade and invested heavily in Sonoma and Lake counties as he did. And right down flying the same airplane LOL..
their shop is well run.. Bob is very good on the customer support and that being said... they are the only company other than myself that I have invested with basically EVER... as I do my own deals.
But I had money stacking up in my SDRA and of course I can't self deal.. so I chose one of his new investments which is more akin to what I like.. quicker turn and high IRR...
Plus for Bay area folks the fact that you can scoot over and meet them in person is a plus.
Good company and if anyone can make it work in todays market its them .. in my opinion and again I am an investor so take that with a grain of salt..
Go meet with them.. do your due diligence and if you think its a fit jump aboard.
Rachael and Jay thank you for the honest feed back. I will continue my due diligence process and you both have helped me gain more confidence with my decision to start working with Praxis.
@Francis Van Steen , following up on this thread. Did you end up investing with Praxis? Thanks for any information you might share about whether you did or why not.
Did you invest and are they on plan ?
Was it worth it?
Looking to invest with Praxis, but wanting to compare their current offering with a couple more. Can anyone recommend some companies with a track record like Praxis? (been working and succeeding since 2008 or before, someone you have experience with, good returns, close to 5yr investment?)
My belief is that Praxis is the gold-standard. I don't think anything is 100% sure, and all the documents all the syndicators have you sign will melt your face off. But if you're willing to take a tiny leap of faith, I think the returns are solid, the diligence and the integrity are there, and the states/markets/submarkets and the asset class are thumbs-up. I can't think of a better syndicator to invest with, frankly. If you read Brian's informative book, you will learn that he finds integrity to be #1. That plus his willingness to communicate with anyone who asks him questions and his team are very praiseworthy. All systems are "go" for me re: Praxis MF F 6, so here goes! I put the odds at 97% an investor does very well, 2% that through no fault of Praxis' the housing market and/or the economy enter a tail-spin due to inept political leadership at the highest levels, and 1% that Brian is the biggest fraud ever to fool me.
I say that mostly tongue-in-cheek. I just mean to say that I don't think there is anything wrong with their business plan, their operational expertise, and so on, so unless something melts the economy down, it seems as though Brian integrity of the operators is the only remaining variable. And considering I think a person who puts in plain black and white that integrity and character of the operator are key -- and then does something underhanded and incompetent is just mind-boggling to consider -- so I'm only left with a negative feeling about the documents these darned attorneys dream up!
Perhaps this post is kind of droll. I am a writer, at bottom. I'm happy to answer any messages anyone has if any of this is unclear. I am definitely not casting aspersions on Brian's character, or Praxis! I'm psyched to put a significant amount of my net worth on the line, in fact.