Real Estate Investing with Tom Burns, Orthopedic Surgeon
Developing Class A Apartment Units in Austin, Texas
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. 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. Dr. Burns is also the co-founder and principal of Presario Ventures, which is a private equity real estate company in Austin.
Financial Freedom ER
Tom and Tim are joined by Dr. Tom Burns, principal and co-founder of Presario Ventures and practicing orthopedist. Dr. Burns shares his fascinating story of real estate investment and development, his unlikely involvement with the U.S. Olympic Ski Team, and how curiosity at a car wash led to a lifelong friendship with Robert Kiyosaki – and maybe even helped with the success of his book.
Enjoy the show here:
035: Surgical Investing with Dr. Tom Burns!
The elegance of Robert Kiyosaki’s Rich Dad Poor Dad is in its simplicity. You invest for cash flow. An asset is something that puts money in your pocket while a liability is something that takes money out of your pocket.
That simplicity was frowned upon by Kiyosaki’s critics when the book came out. Financial critics found nothing useful in his book and felt that it was actually an over-simplification of the investing process.
There was one major problem with that critique of Kiyosaki’s book. People had been investing for cash flow for years before Robert Kiyosaki was even born. Real asset investing predates stocks, bonds, and mutual funds by a long shot.
Our Co-founder, Dr. Tom Burns was another guy who was investing for cash flow before Kiyosaki’s work. He was finishing orthopedic surgery training in the early 90s when he realized that, despite loving his profession, his profession was being attacked by HMOs and other external forces and that reimbursement would likely suffer over the course of his career. He was right. So after training, he began investing in real estate.
Tom is an interesting guy. In fact, he was one of the first to even read Rich Dad Poor Dad and is even acknowledged in the second edition of Kiyosaki’s classic (for more on that, listen to the episode).
Tom will hopefully reassure you that investing in real assets that cashflow is, indeed, the path to enduring wealth. Listen to this episode of Wealth Formula Podcast (where this podcast originally appeared) to hear about his exciting journey over the last two decades.