Drew Breneman @drewbreneman

Founder of @BrenemanCapital. Helping investors protect and grow their capital through long-term multifamily investments. $250MM+ owned (w/ investors). breneman.com Austin, TX Joined June 2009

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Drew Breneman @drewbreneman

3 months ago

I like multifamily more than any other asset class. Here’s why: At Breneman Capital, we took NCREIF data from 1990-2020 and measured all possible hold scenarios (3, 5, 7, & 10 years) for all major product types: • Industrial • Multifamily • Office • Retail Multifamily had…

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Drew Breneman @drewbreneman

3 months ago

Here’s how we created our largest equity multiple ever: It started in 2009. Everything was difficult, so when we were buying a property, we made a conscious effort to be as easy to work with as possible. (We always like to be easy to work with, but if you were around in 08-09,…

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Drew Breneman @drewbreneman

3 months ago

Maybe easier said than done, but as an LP, you want to work with sponsors who will wait to sell until the optimal time for investors — not when they want to get paid. You can always just ask them directly: “Can you walk me through previous deals you’ve sold and why you made the…

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Drew Breneman @drewbreneman

3 months ago

Thanks to unlimited access to the “experts” via book, podcasts, social media, etc, it's never been easier to develop a skill. You can absorb decades of experience in no time flat. But that "ease" is the exact reason it's never been harder to develop a skill. Before all-access…

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Drew Breneman @drewbreneman

3 months ago

You're not going to be confident when you start in real estate. You need to ditch your ego and accept that you're going to look dumb at some points of your journey.

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Drew Breneman @drewbreneman

3 months ago

Higher projected returns usually come with: • More reliance on renovations. • More reliance on leverage. • More reliance on rates. • More reliance on refis. Especially in today’s market, that’s too many “what-ifs” baked into your spreadsheet. If I’m an LP evaluating two…

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Drew Breneman @drewbreneman

3 months ago

Unhappy millionaires who are stressed, strapped for time, and disconnected from their families are a dime a dozen. It’s one of those things you think is ridiculous until you actually meet a few of them. It’s sad.

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Drew Breneman @drewbreneman

3 months ago

It’s great to have consistent investors who are ready to put capital into deals, but it’s also genuinely fulfilling to spend years with someone and watch how the investments you did together have affected them, their lives, and their families.

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Drew Breneman @drewbreneman

3 months ago

Instead of looking for short-term flips during the Great Recession, we looked for properties we were comfortable owning for longer-term holds. We figured things could get worse in the short term, but we were optimistic that by 2015 or 2016, the economy would have turned around.…

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Drew Breneman @drewbreneman

3 months ago

I used to drive around with a drywall saw and a flashlight in my car at all times. I remember cutting a hole in the basement ceiling of a property to get to frozen pipes when no one else could come at 1 AM in -20 degree weather. Drywall dust was falling onto my new coat because…

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Drew Breneman @drewbreneman

3 months ago

@ elon musk: “If you need inspiring words [to become an entrepreneur], don't do it." Most people shouldn’t work for themselves. If you need someone to encourage or inspire you to build your business, you're not going to make it.

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Drew Breneman @drewbreneman

3 months ago

Buy buildings. (Bad) Buy buildings in great locations. (Better) Buy buildings in great locations that don't have issues that can’t be overcome by renovation. (Best)

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Drew Breneman @drewbreneman

3 months ago

Might be obvious, but you should be balancing the risk you take on with the timing of the market cycle. When there’s a lot of uncertainty in the market, take on less risk. When there’s more stability, be open to more risk.

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Drew Breneman @drewbreneman

3 months ago

From 2009-2023, we distributed $43,610,947 to our investors. From 2009-2023, our actual taxable income was negative $4,115,088. Just wanted to give some love to depreciation.

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Drew Breneman @drewbreneman

3 months ago

I bought a $33,000,000 deal at an "uncertain" time. Here's what made me confident: This was back in 2020. At the time, a $33MM deal was 2.5x bigger than anything I had ever done. It was in the middle of COVID, so people weren't bullish on buying. "Buy Low, Sell High" is great…

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Drew Breneman @drewbreneman

3 months ago

Being meticulous and detail-oriented are important traits, but they won't get you very far if you move slowly. I don’t know very many successful people who are renowned for their ability to get back to you in 3-5 business days.

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Drew Breneman @drewbreneman

3 months ago

Here’s everything you need to get your 1st deal: 1. Get your money together: → Credit (you need to be able to borrow) → Income → Cash savings 2. Know what to look for: → Buy where you live. → Cash-flow positive → Keep it simple. → 1-4 units Before you buy: → Ask…

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Drew Breneman @drewbreneman

3 months ago

As a passive investor, you want to work with the innovators, not the copycats. When you're evaluating sponsors, ask questions like: • "What strategies do you deploy?" • "How do you challenge the status quo?" • "How do you choose markets and investments?" Ideally, you want…

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Drew Breneman @drewbreneman

3 months ago

We were buying deals in 2008-2009 that were going for 20-40% less than what they were selling for the year prior. If I can evaluate a property and believe in its potential for 10, 20, or 30 years in the future, I’m not concerned about the near-term volatility of the market.

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Drew Breneman @drewbreneman

3 months ago

One of the only good pieces of Internet Guru advice: “There’s someone less qualified than you living the life you want simply because they took action and you didn’t.”