If you’ve been paying attention to the real estate sector as a whole, you’re most likely aware that Austin, Texas has been one of the hottest, if not the hottest, market in the United States for the last 10 years or so. They have had never before seen price increases, as well as tens of thousands of apartment units coming online simultaneously, and that doesn’t look like it will be slowing down anytime soon. This may leave you questioning whether or not the market will become over-saturated with vacant new development or if the new units will be rented quickly.
Our guest for today is Tom Burns who is an entrepreneur and orthopedic surgeon in Austin, Texas. He is currently a physician for the United States Ski Team and travels worldwide with them. Tom has over 20 years of real estate experience involving acquisition, development, and management of traditional multifamily, student housing, office projects, and manufactured housing. He has participated in the acquisition and development of over $200 million of real estate. He is also a member of the Forbes Real Estate Council and is listed in the acknowledgment section of Robert Kiyosaki’s book, Rich Dad Poor Dad. Dr. Burns is also the co-founder and principal of Presario Ventures, which is a private equity real estate company in Austin.
Today we are going to discuss…
- How our guest got connected to Robert Kiyosaki and why he was mentioned in Rich Dad Poor Dad
- How many apartment units have come online in Austin and how the demand can possibly meet the new supply
- Why there is essentially no Class B development in Austin and why Class A is essentially the only viable option if you are a developer
- What types of financing are available for experienced developers in this market
Learn more about our guest:
Website: presarioventures.com