Drew Breneman

Breneman Capital

I started what would become Breneman Capital in 2005 at age 19 to purchase my first rental properties and grow my own wealth. 

Today, we work with individual investors, Family Offices, PE, Fund of Funds, RIAs, etc., and they invest alongside us in the best opportunities that we find (and have been for nearly 20 years).

Invest with us: https://www.breneman.com/invest

Founder & CEO

The Blackhawk Investment Group

About Blackhawk:
•	Vertically integrated real estate investment firm primarily focused on Minneapolis/St. Paul and select neighborhoods within Chicago with over $100MM in assets under management. 
•	The firm is similar to a private family office in that it is not open to outside investors. The firm is built around one investor/partner with targeted hold period of forever.

2008-2012: 
•	Acquired heavily discounted commercial properties in Minneapolis/St. Paul we could own long term with high cash flow. 
2013-2019: 
•	Focused on value-add multifamily in Chicago, where we could increase the income and refinance out all of our initial equity. 
Results:
•	Refinanced out over 100% of initial equity on average across 11 investments. 


Learn More At: www.BlackhawkInvest.com

Breneman Capital is an owner in Blackhawk's individual properties.

Co-Founder

Rubloff Development Group, Inc

Development Firm in Numerous Product Types: Retail, Office, Mixed-Use, Market Rate Apartments, Senior Housing, Self Storage, and For Sale Housing.

• Assessed financial feasibility and contributed in the acquisition, development, repositioning, and disposition of RDG's portfolio (Portfolio Size - Approximately $1B asset value, 50 properties, and 5,000,000 square feet under development)

• Responsible for sourcing opportunities, obtaining necessary approvals and incentive packages from municipalities, securing debt and equity financing, reviewing and negotiating legal documents, overseeing the construction process, and negotiating with lenders, investors, joint venture partners, potential tenants, and third party vendors

Development Associate

Dominium Development & Acquisition, LLC

Multifamily Development/Acquisition Firm. Market Rate & Affordable Multifamily.

• Responsible for assisting the firm's partners in takeovers of stalled construction projects, acquisition of mismanaged apartment portfolios, development of new multifamily communities, and the acquisition of general partnership interests controlling Section 42 housing 

• Performed financial analysis in all sectors of multifamily (Market rate, Section 42, Section 8, and Senior Housing) in markets throughout the country

• Lead on Dominium's tender option bond funds and financings with the fund. Experience with tax-exempt bonds, swaps, caps, and other derivatives

T. Wall Properties

Industrial and Office Real Estate Development Firm.

• Gained experience with real estate development, industrial, office product types.

Development Intern

RPGeStore.com

Online business operated while in high school and college that allowed me to make the money I would use to purchase my first 4 rental properties with while in college.

Founder and CEO

Protect & Grow Capital With Our Multifamily Investment Opportunities For Family Offices, Fund Managers, & High-Net-Worth Individuals

When I was 19, I bought my first property.

I didn’t realize it then, but that little duplex changed my life.

Now, almost 20 years later, I’ve sourced, capitalized, and closed on over $250 million of properties for my firm, Breneman Capital.

For the last 15 years, I’ve worked closely with investors — family offices, PE, Fund of Funds, RIAs, and individuals — to help them generate income and wealth through multifamily real estate.

The old real estate adage says, “You make your money when you buy in real estate.”

I agree with that — but I think it’s only 50% true.

The other 50% comes in the execution. And I’ve built Breneman Capital through that lens. 

Over the last 20 years, our realized investments have produced an average gross return of:

• 24% IRR
• 2.2x equity multiple
• 5.6-year hold period

In my opinion, our longest-standing investor relationships come down to 2 factors:

1) Our deals have performed well.
2) We focus on giving investors the best possible experience.

Real estate can be complex. But we like to keep our goals for our investors simple.

Strong returns.
Great experiences.
World-class communication.

If you’d like to set up an exploratory call, feel free to click the link in my Featured Section.

I started Breneman Capital in 2005 at age 19 to purchase my first rental properties and grow my own wealth. 

Today, we work with individual investors, Family Offices, PE, Fund of Funds, RIAs, etc., and allow them to invest alongside us in the best opportunities that we find (and have been for nearly 20 years).

Invest with us: https://www.breneman.com/invest

Brian Spear

Sunrise Capital Investors

The Brogdon Group

SOX Auditor

Alden Systems

Telco Inventory Auditor

✪ Co-Founder, Sunrise Capital Investors | Private Equity Real Estate Sponsor | Mobile Home Park Investment Fund Mgr ✪

"I want to help you generate Cash Flow & Legacy Wealth through Mobile Home Park Investing"

Brian Spear currently manages multiple Investment Funds alongside Kevin Bupp and our team at Sunrise Capital Investors.

https://sunrisecapitalinvestors.com/

Brian Spear currently handles investor relations, marketing, and regulatory compliance for SCI. Mr. Spear has an extensive background in market evaluation, property analysis, acquisitions and management. To improve deal flow, Mr. Spear systematized the process to build and track relationships with mobile home park brokers nationwide. Prior to joining SCI, Mr. Spear travelled throughout the country to perform audits for multinational telecommunications companies. Over time, Brian worked in 49 states and amassed valuable insights into different MSAs around the country. His ability to drive growth and improve productivity helped grow his former company from inception to a valuation in excess of $50mm in less than a decade. Mr. Spear graduated from the University of Kentucky with a Bachelor of Business Administration in Marketing. He attended UK on a baseball scholarship and was voted captain of a team that ultimately had six MLB alums. He was also named CoSIDA ESPN the Magazine Academic All-District.

MISSION

Our mission is to help you generate cash flow and build legacy wealth through commercial real estate investing.

INVESTMENT STRATEGY

Sunrise Capital Investors invests in niche market segments which are currently out of favor, inefficient and in which there is less competition. We currently see opportunities in mobile home parks and parking assets. Our strategy for parking assets is similar to our mobile home park strategy in that we buy, improve, and hold assets to help you generate cash flow & legacy wealth.

To learn more, visit:
http://sunrisecapitalinvestors.com

Our team also hosts two Top-10 Real Estate Investing podcasts, free on Apple Podcasts:
1) Real Estate Investing for Cash Flow with Kevin Bupp  , and
2) The Mobile Home Park Investing Podcast

www.SunriseCapitalInvestors.com

The biggest risk in investing? 

It’s not interest rates, inflation, or market downturns…

It’s the misuse of leverage. 

Don’t take my word for it. Take it from Charlie Munger himself:

He once shared a story about a man who owned a $2.5M home and had $5M in securities.

But instead of living off that wealth responsibly, he started chasing “easy money” by selling naked puts—making risky bets backed by his portfolio.

What eventually happened?

He lost the $5M.
He lost the house.
He now works in a restaurant.

Moral of the story: Never “get out in front of your skis” when it comes to debt. 

The easiest way to hurt yourself is by using too much leverage on your asset, or committing to risky debt structures with tight timelines.

When the clock runs out (as it always does), the wrong debt structure can blow up the entire investment.

The right debt structure, on the other hand, creates certainty of outcome over long periods of time.

In investing, certainty is everything.

Helping 7-8 figure entrepreneurs create cash flow, save on taxes, and build legacy wealth with mobile home park investments

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There hasn’t been a “mobile home” built in 50 years!

There’s a huge disconnect between what people think of manufactured housing and what it actually looks like today.

Since the HUD code was enacted in 1976, manufactured homes have been built to rigorous standards…

And the homes we build today are night and day from the ‘trailer trash’ stigma that still lingers in the public's mind.

These homes are not only high quality and extremely resilient, but they also provide a real solution to the affordable housing crisis many Americans face. 

The evolution of manufactured housing is proof of what happens when the right standards are set and innovation is allowed to flourish.

We’re far beyond the outdated perception.

We are building communities and offering attainable homeownership.

At Sunrise, we’ve made it our mission to showcase the modern manufactured home as a trusted, sustainable housing solution.

It’s time to stop seeing mobile homes as relics of the past and start seeing them for what they truly are: a cornerstone of affordable, quality housing.

Since 1965, Berkshire Hathaway’s stock has delivered a compound annual gain of ~19.8%.

But Buffett’s secret isn’t brilliance…

It’s boredom.

The discipline to do nothing stupid for decades.

That’s the part people skip over.

Everyone sees the billions. The bets. The big wins.

But they don’t see the patience.

The decades of sitting on capital.
The years of saying “no.”
The long stretches where nothing flashy happens.

And yet… that’s exactly how wealth works.

Not in spikes, but in steady, boring compounding.

Same is true in real estate.
Especially if you're investing for cash flow.

You don’t need to be a genius.
You just need to:

Buy real assets that pay you now

Avoid debt that can take you out

Let time do what time does

Most won’t do it.

They’ll chase the pop. Time the market. Jump deal to deal.

But a few?

They’ll play the long game.
They’ll stick to the plan.
They’ll win.

I once made a call I thought any investor would want.

We’d just gone full cycle on a deal. Solid returns. Big distribution headed their way.

I called one of our LPs to share the news.

His response:
“Why would you do that to me?”

I thought he was joking.
He wasn’t.

Here’s what he laid out:

He didn’t want a lump-sum check.
He wasn’t interested in rushing a 1031, and he didn’t want the tax hit.
And he certainly didn’t want his capital sitting idle while searching for the next deal.

What he wanted was simple:
Reliable, compounding cash flow without having to chase it.

That conversation stuck with me because it revealed something we don’t talk about enough:
Not every investor wants a “win” that forces them back to square one.

Sometimes, the real win is not having to move at all.

Hold a quality asset.
Let it perform.
Avoid unnecessary churn.

That’s the quiet strategy behind lasting wealth.

And it’s why when we find something worth keeping at Sunrise, we do.

A recent study suggests that Denver removing its minimum parking mandates could lead to a 12.5% boost in housing construction.

That’s potentially 460 more units each year, created simply by removing a rule that doesn’t reflect how cities actually function anymore.

Most people think more parking means more convenience.
But in reality, too much of it can kill housing supply.

This runs counter to what many cities still bake into their zoning code: more parking = better development.

But the truth is, mandated parking takes up space, eats capital, and reduces flexibility - without necessarily improving outcomes.

Developers in the study said that when they didn’t have to over-park their buildings, they could add more homes, create better layouts, and even introduce green space.

The trend of removing parking minimums is playing out in cities across the country and as parking mandates disappear, existing parking facilities become increasingly more valuable.

Here’s a real-world example of how tax strategy can make a huge impact on your bottom line…

In 2023, we acquired a mobile home park for $44,450,000.

With land valued at $7,348,000, we were left with $37,102,000 as our depreciable basis. That would have given us $1,349,163 of depreciation "losses" per year.

That’s a good start, but we didn’t stop there. We brought in a cost segregation team, and what they uncovered was powerful.

Through their study, we learned that 97% (around $36 million) of this property could be depreciated in 15 years, 7 years and 5 years. The recovery period was greatly shortened, allowing us to benefit from greater levels of depreciation sooner.

Hiring a cost segregation specialist requires an upfront investment, but their expertise can pay dividends for years to come in the form of realizing bonus depreciation deductions and subsequent tax benefits.

Their in-depth analysis not only identifies all depreciable assets within the mobile home park but also ensures these assets are classified correctly to maximize tax benefits while remaining fully compliant with IRS regulations.

To take this a step further, mobile home parks can significantly benefit from a tax strategy known as bonus depreciation.

This incentive allows mobile home park owners to accelerate the depreciation of assets with depreciable lives of less than 20 years, enabling them to deduct a substantial portion of the property's cost in the year the investment is made.

Using the acquisition example from earlier, by combining cost segregation with bonus depreciation, we could depreciate nearly $29 million (80% of $36 million) in 2023 for this property.

This is a significant increase in depreciation losses compared to the $1 million with standard depreciation alone.

(By the way, utilizing this strategy meant that investors who participated in this acquisition received 135% of their invested capital as a "passive loss" on their 2023 K-1, potentially resulting in extraordinary reductions in taxes owed on passive gains for that year and future years since the losses may be carried forward.)

In short, by increasing passive losses through accelerated depreciation and cost segregation, then adding year one benefits through bonus depreciation, your tax liabilities can greatly decrease, thus freeing up more capital for additional investment.

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The Battle

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Performance Score.css-goub6s{font-size:var(--chakra-fontSizes-md);font-weight:500;color:var(--chakra-colors-gray-600);display:block;margin-top:var(--chakra-space-1);}Brian Spear's LinkedIn Performance

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