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In this episode of the First Gen Real Estate Podcast, our guest, TJ Burns, takes us on his journey from an engineer to a successful real estate investor. TJ shares his initial desire for more and his longing to be his own boss and attain financial freedom while working his engineering job. This desire led him to explore real estate to create wealth.
Tj dissects some key syndication aspects, including due diligence, natural disaster provisions, and the significance of reputation and social media presence when selecting syndication operators and sponsors. He also talked about contingency plans and the importance of insurance coverage, and strategies for unforeseen events like fires or natural disasters. He also touched on the issuance of Schedule K-1 documents to investors that outline their passive gains and losses and suggests working with a CPA to manage the tax reporting process.
TJ's real estate investments have catapulted him to financial freedom and diversified his portfolio, and he generously shares his wisdom from this journey.
Who is TJ Burns?
Tom 'TJ' Burns is the founder and principal of the real estate-focused private equity firm Burns Capital Partners.
TJ shifted his concentration from passive investing to real estate syndications after achieving success as a passive investor. As a fund manager, TJ has closed numerous deals in various US regions and asset classes. In addition, he is a limited partner in 10+ deals involving STRs, Multifamily, MHPs, Debt, and self-storage.
TJ has experience with consumer technology and product design. He holds over seventeen patents, and his products have been shipped to tens of millions of households around the globe. He possesses a mechanical engineering degree from MIT and is a licensed real estate agent in New York.
Connect with TJ:
Website: https://burnscapital.co/
Linkedin: https://www.linkedin.com/in/thburns42/
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Austin Wang (host): https://www.linkedin.com/in/austin-ou-wang/
