Learn the value of specialization!
Drew Breneman, founder and CEO of Breneman Capital, takes us through his journey from buying his first deal at 19 to now owning over 200 million worth of real estate. He discusses how he found success by specializing in multifamily properties and leveraging good deals and good financing. He talks about the Freddie Mac SBL program, dives deep into risk management strategies, and shares expert advice on the multifamily asset class.
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[00:00 - 11:02] $200 Million and Still Growing
Drew talks about his journey: how invested early using his own money as a college student, how he built his company and specialized in multifamily
They use flexible prepayment terms on Freddie Mac
It is important to track loan maturities and lease maturities to avoid having too many ending at the same time
[11:03 - 21:00] Stop Chasing Returns, Chase Risk Profiles
Dig into the nuances and know the risks of different asset types
Long-term ownership is more profitable than flipping properties in a couple of years or risky product types
Spend time evaluating your sponsor
[21:01 - 32:04] The Multifamily Edge
Multifamily has had higher returns with the lowest return, standard deviation, for every hold period than any other product type
Look for a specialization and think about how you can outperform others in that area
Turn data into information to make better decisions
Transaction volume dropped by 80% in most markets due to a lack of confidence in deals and operators
Drew believes that the future of growth is in the Sun Belt
[32:05 - 40:07] There is Power in Mindset
Be realistic but don’t be overconfident in your endeavors
Quotes:
“You want to start thinking about not having too many deals ending at the same time in terms of when the loans come due… And then same thing, you don't want the leases ending at the same time your loans ending in commercial properties. That's a recipe for disaster.” - Drew Breneman
“I think multifamily still has all the tailwinds at its back. We're still under-housed.” - Drew Breneman
Reach out to Drew through Linkedin and Facebook. Visit his website at http://www.breneman.com.
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Real Estate Runway Podcast is all about alternative business and investment strategies to help you amplify life and maximize wealth! Click here to find out more about the host, Chad Sutton.
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