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E06: How to Raise Capital, Grow Your Network, and Accelerate Your Wealth with Tom Burns
Getting to your next $10 million takes persistence – and a strong network that can help you raise your capital too. But how do you do that?
In today’s episode, Pasha Esfandiary and Cody Littlewood chat with real estate investor Tom Burns, who shares his journey from being an orthopedic surgeon to growing a private equity firm that has grown to 3,500 units. Tom has nearly three decades of real estate experience and has developed over half a billion dollars of real estate locally and internationally. Tom is also the author of Why Doctors Don’t Get Rich, a bestselling personal finance book for medical professionals.
Tom is the co-founder and principal of Presario Ventures, a private equity firm that focuses on apartment development. He is also the founder of Rich.Life, a mastermind group that helps people accelerate their wealth and connect with others.
Here are some power takeaways from today’s conversation:
Episode Highlights:
[22:19] Growing Your Pool of Investors
The bigger your pool of investors, the more confidence you have to grow. As your check sizes grow, your options increase and you can buy portfolios. For Tom, the biggest secret is persistence, and that persistence and time can make you a star every time.
[28:49] What to Look For in a Partner
Find a partner you can leave your checkbook and your family with. You don't have to agree on everything but at some point, you have to come to a resolution. A good partner is humble enough to be a part of a team and you want somebody you can trust.
When you're going to invest with somebody, try to check their track record. What’s best is if you've got somebody you really trust that knows them and who can vouch for them. It doesn't guarantee success, but at least, it guarantees you a partner that's going to stick with you when times get bad.
[33:41] How to Raise Capital
One way of raising money is to use other people's money, particularly debt. But for equity, if you're bringing in money, you can increase your network, which does a lot of things for you. It gives you education and it helps you socialize. It helps you find deals to get into and invest with as well as find investors.
As you’re bringing in investors, there’s that stigma that you’re only taking other people’s money. But you’ve got to change that mindset and see that as an opportunity you’re actually sharing with them. There are a lot of people who have money and want to make their money grow. The problem is they don’t have the time and your job is to solve their problem by using your expertise and network to grow their money.
That being said, you've got a giant responsibility when you take somebody else's money. And if you're ready for that responsibility, and you’ve got the integrity, transparency, network, and the team to do that, then start raising small and start helping some people out.
Resources Mentioned:
rich.life
Presario Ventures
Why Doctors Don’t Get Rich
Rich Dad Poor Dad
View all episodes
By Pasha Esfandiary & Cody LittlewoodGetting to your next $10 million takes persistence – and a strong network that can help you raise your capital too. But how do you do that?
In today’s episode, Pasha Esfandiary and Cody Littlewood chat with real estate investor Tom Burns, who shares his journey from being an orthopedic surgeon to growing a private equity firm that has grown to 3,500 units. Tom has nearly three decades of real estate experience and has developed over half a billion dollars of real estate locally and internationally. Tom is also the author of Why Doctors Don’t Get Rich, a bestselling personal finance book for medical professionals.
Tom is the co-founder and principal of Presario Ventures, a private equity firm that focuses on apartment development. He is also the founder of Rich.Life, a mastermind group that helps people accelerate their wealth and connect with others.
Here are some power takeaways from today’s conversation:
Episode Highlights:
[22:19] Growing Your Pool of Investors
The bigger your pool of investors, the more confidence you have to grow. As your check sizes grow, your options increase and you can buy portfolios. For Tom, the biggest secret is persistence, and that persistence and time can make you a star every time.
[28:49] What to Look For in a Partner
Find a partner you can leave your checkbook and your family with. You don't have to agree on everything but at some point, you have to come to a resolution. A good partner is humble enough to be a part of a team and you want somebody you can trust.
When you're going to invest with somebody, try to check their track record. What’s best is if you've got somebody you really trust that knows them and who can vouch for them. It doesn't guarantee success, but at least, it guarantees you a partner that's going to stick with you when times get bad.
[33:41] How to Raise Capital
One way of raising money is to use other people's money, particularly debt. But for equity, if you're bringing in money, you can increase your network, which does a lot of things for you. It gives you education and it helps you socialize. It helps you find deals to get into and invest with as well as find investors.
As you’re bringing in investors, there’s that stigma that you’re only taking other people’s money. But you’ve got to change that mindset and see that as an opportunity you’re actually sharing with them. There are a lot of people who have money and want to make their money grow. The problem is they don’t have the time and your job is to solve their problem by using your expertise and network to grow their money.
That being said, you've got a giant responsibility when you take somebody else's money. And if you're ready for that responsibility, and you’ve got the integrity, transparency, network, and the team to do that, then start raising small and start helping some people out.
Resources Mentioned:
rich.life
Presario Ventures
Why Doctors Don’t Get Rich
Rich Dad Poor Dad