Drew Breneman

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.

Founder & CEO

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

I have a buddy who owns over $1 billion in multifamily with investors. He has one piece of advice: 

Don't quit your day job. Your day job lets you take risks. Just work twice as hard.

He remembers the exact date he quit his job when he was 35: October 1st, 2012.

He told me he'd never been more motivated than that day. Woke up and didn't have to go to his job... All of a sudden, it was all on him. 

He emptied his bank accounts buying those first assets. Literally emptied them.

And then a couple years later...

He went back to a W-2. 

He was too exposed financially, so he had to take a job at a mortgage company.

After he went back to the W-2, he kept buying deals on the side. Eventually, he rolled 1,000 units he owned into his own company. He bought all those units while working as a full-time salaried employee. 

That's what he did for basically 20 years. Nights and weekends. Two jobs, sometimes three. But the whole time, he was building a track record and building relationships.

Then, all of a sudden, his portfolio hockey-sticked. 

When I asked him if there was a recipe to success, that's all he ever says:

Don't quit your day job. Just work twice as hard.

Founder at Breneman Capital. Multifamily Investments That Protect & Grow Capital.

In 2024, we canceled a deal we had under contract.

Here’s why:

During the physical inspection, we discovered a few structural issues:

1. Balconies were detaching from the building
2. Lack of structural support above doors and windows
3. Structural integrity issues with modifications made to the concrete

In one instance, I noticed the rebar appeared to have been cut through during a prior rehab. I brought it up to our architect and structural engineer, and they both saw it as a big red flag. (Pro tip: Make sure you have trusted advisors to run things by.)

I ended up sending a Loom video to the broker to walk him through the issues. As I talked, I pulled up the photos we had and pointed out the specific problems we had noticed.

If you’ve followed me for any time, you know I’m a huge proponent of being meticulous on physical inspections.

Don’t be in a rush. Walk every unit. Take pictures.

I never want to cancel a deal this far in — and I certainly don’t want to build a reputation as someone who does — but I’d much rather back out on a deal that would put our investors at risk than power through because I want to avoid an uncomfortable conversation. 

Have you ever backed out of a deal? If so, why?

I told my 8-year-old his first job should be as a cleaner.

"Why?" he asked me.

"Because it's hard." 

Before I started my first internet business selling video game items, I cleaned a bank and a school. It was boring and entirely unenjoyable, but it was manual labor that forced you to do something you didn't want to do — and do it right. 

So I think being a cleaner is a pretty good first job to get your kid into.

What would you say to your kid asking the same question?

You know how some things sound too good to be true?

That’s what we thought about this deal:

This was a two-building, 16-unit multifamily property we bought back in 2019.

The property is in the trendy Wicker Park/Bucktown neighborhood of Chicago.

When we bought it, it was half a block away from one of the hottest restaurants in Chicago. It’s right next to a Blue Line stop on the L. Right in the heart of everything. 

The location is so good, we called it “once-in-a-generation” on our website.

Deals in perfect locations like this don’t pop up often…

So when this one did, we moved on it immediately.

Since we bought the property, we’ve replaced all the:

- Furnaces.
- Appliances.
- Washer dryers.
- Air conditioners.

As we continue to update the 20+-year-old interiors, we’re able to continue raising rents.

It’s a legitimate trophy location, but that doesn’t mean it’s a walk in the (Wicker) park.

People still move out.
Things still break there. 
People still say the rent is too high.

Even if you find the best deal in the best location, a few things will still hold true:

1) Some things will still go wrong.
2) The work still needs to be done.
3) The execution is still the most important part of the deal.

𝗪𝗵𝗲𝗿𝗲’𝘀 𝘁𝗵𝗲 𝗯𝗲𝘀𝘁 𝗹𝗼𝗰𝗮𝘁𝗶𝗼𝗻 𝘆𝗼𝘂 𝗼𝘄𝗻 𝗮 𝗽𝗿𝗼𝗽𝗲𝗿𝘁𝘆? 


Disclaimer: This is not an offer to sell or a solicitation to buy securities. Past performance is no guarantee of future results, and investors may experience different results than those shown, including the loss of principal. You should not rely upon forward-looking statements as predictions of future events.

Paying your kids for chores teaches them the wrong lesson about money.

"Allowance teaches money management." 

Does it? 

Or does it teach them that money shows up on a schedule no matter what? 

"Chores for cash teaches work ethic." 

Does it? 

Or does it teach them to expect a paycheck for doing the dishes?

My beliefs: 

Chores are part of being in a family. 
Money is a tool that compounds.

They're two separate lessons.

So when it came to money, I decided to teach my oldest son about investing first. How a dollar today becomes two dollars tomorrow.

This was my approach, but I'm curious:

How do you handle this with your kids?

If you own property in a cold-weather state, you need to prepare for the worst.

Here are my 4 best tips for dealing with winter weather: 

1. Prepare your properties with space heaters. 

Nothing fancy — the small ones you get at Lowe’s or Home Depot work.

Put them in a building maintenance closet before the cold weather hits.

If your property is experiencing a heat outage, odds are others are, too.

That means HVAC companies are busy.

Your residents can get the space heaters from the common area closet and spread them throughout their apartment to keep the temperature up while they wait for a fix. 

2. Get ahead of the game. 

Tune your furnaces up.

Change filters and check/replace thermostats and thermostat batteries.

Fix problems before they need to be fixed.

3. Communicate with your residents.

Don't assume your tenants know what to do. 

Communicate: 

- What to do when they leave town.
- Why they need to leave faucets dripping.
- What temperature to set thermostats at.

The younger the renter, the more information they will need.

4. Set clear expectations.

Don’t rely on text messages for emergencies —set an emergency call line and make sure your residents know to contact it.

For more tips like this, subscribe to my YouTube channel here: https://lnkd.in/dSuFcNDY

"What do you wish you knew sooner, Drew?" 
 
Plenty. But here's 1 need-to-know lesson for RE investors: 
 
𝗠𝗮𝘁𝗰𝗵 𝘂𝗽 𝘆𝗼𝘂𝗿 𝗹𝗼𝗮𝗻 𝘄𝗶𝘁𝗵 𝘆𝗼𝘂𝗿 𝗯𝘂𝘀𝗶𝗻𝗲𝘀𝘀 𝗽𝗹𝗮𝗻.  
 
This goes for: 
 
• Prepayment-penalties  
AND 
• Fixed-rate term  
 
For example: 
 
If you're going to do a 3-year hold, don't get a 10-year fixed yield maintenance loan. 
 
(Sounds simple, but you'd be surprised how often people mess this up.) 
 
In 2020, I bought 3 deals, all from different developers who knew they were going to build and sell the properties. 
 
But they saddled the properties with 10-year fixed loans with yield maintenance prepayment.  
 
This meant 3 things: 
 
1) Paying off the loans would've cost them millions of $$$ in prepayment penalties... 
 
2) So they had limited their buyer pool... 
 
3) Making it a great opportunity for us to bid on the deal. 
 
Of those 3 deals, 2 were off-market. The owners sent them to us because they knew how tough of a sell they'd be with those loans. 
 
(BTW: The same lessons applies to fixed-rate terms.) 
 
This post is a little technical, but it's important to highlight a theme I've seen over and over again: 
 
𝗡𝗼𝘁 𝗲𝘃𝗲𝗿𝘆𝗼𝗻𝗲 𝗶𝗻 𝗿𝗲𝗮𝗹 𝗲𝘀𝘁𝗮𝘁𝗲 𝗶𝘀 𝗮𝗻 𝗲𝘅𝗽𝗲𝗿𝘁.  
 
- Don't assume no one makes mistakes. 
- Don't assume deals are priced properly. 
- Don't assume you can't get a good deal. 
 
Do your homework, trust your numbers, and be diligent in finding great deals. 
 
That's what works for us.  
 
-- 
 
If you're an accredited investor who:  
 
• Has capital for real estate investing but... 
• Doesn't have the time for the nitty gritty...  
 
Send me a message so we can set up a call.

S. J. Fowler Real Estate Investments

One of the top pruducing multifamily/Investment brokers in the Phoenix MSA. Aligned with S.J. Fowler Real Estate Investments, one of the strongest Commercial Brokerages in the Phoenix MSA. Multifamily / Investment Specialist with 28+ years of experience with well over 1000+ transactions. Highly seasoned advisor with expert negotiation skills and a pedigree that is hard to match (CCIM-Certified Commercial Investment Member, J.D. and MBA with CRE Emphasis). Reputation for getting sellers top of the market prices and finding diamonds in the rough for buyers. Let's discuss your investment strategy. Call me at 602-672-3526; email me at cstephens@ccim,net; and visit my website at www.phoenixmulti-family.com. No obligations or commitments. Just a confidential discussion to learn about your options and best investment strategies. Thank you for reading my profile!

Multifamily / Investment Specialist

Corcoran Platinum Living

27+ year Commercial Multi-Family Property Specialist. CCIM, J.D., MBA. 1000+ closed transactions. Aligned with Corcoran Platinum Living Commercial 7135 E. Camelback Rd, Suite 180 Scottsdale, AZ 85251. (Visit www.phoenixmulti-family.com to see my closings and current listings). My passion is for multi-family properties, with a pedigree that is hard to match  in the industry. Reputation for record-breaking prices for clients.

Director of Multifamily-Commercial

RE/MAX Commercial Brokers

Commercial Investment Property Specialist. Aligned with the #1 brand in real estate-RE/MAX Commercial Brokers (2920 E. Camelback Rd, Suite 230 Phoenix, AZ 85016). Visit me at www.remaxcommercialbrokers.net). My focus is on multifamily/office/investment property. My pedigree is hard to match  in the industry. RE/MAX is a Top 25 Global Commercial Brokerage with rapid growth. The recognition, brand, and quality of agent that RE/MAX brings to the table is highly impressive to say the least. The stellar reputation within the industry has been built over 40+ years of doing excellent brokerage. RE/MAX is truly a "Better Way in Commercial Real Estate."

Associate Commercial Broker

SJ Fowler Real Estate

Commercial investment brokerage. SJ Fowler Real Estate is a 100% local brokerage that has developed a stellar reputation. We know the Valley inside and out. Specializing in Multifamily and investment.

Associate Real Estate Broker

Cassidy Realty LLC

Owner/Operator of a real estate brokerage company (residential and commercial) from January 1996-August 2013 while managing up to 15 people. 

Involved in thousands of real estate transactions at every level of complexity.

Owner/Managing Broker

Best Management LLC

Property and asset management of residential and commercial properties, including multi family, office, retail, and mixed use properties. At one point, managed up to 600 units with 12 employees.

Property Manager

Jamstep Properties LLC

Purchased and sold over 475 properties during a 11+ year period, including residential, office buildings, large multi family buildings, mixed-use projects, and land. Heavy emphasis on value-added properties.

Owned land for two proposed condominium projects affected by the economic downturn.

Owner/Investor/Developer

Proudly aligned with S.J. Fowler Real Estate Investments, one of the strongest Commercial Brokerages in the Phoenix MSA. Multifamily / Investment Sales Specialist. 33+ years of investment sales over 1000+ transactions. Worked hard to obtain my J.D. in 1995; my CCIM (Certified Commercial Investment Member) in 2011; and my MBA in 2013. Those skill-sets have allowed for a higher level of analysis, and ultimately better negotiations for my clients. But I am the first to say that hard work is what differentiates me from many of my competitors.  I live, eat, and breath multi-family & land investments across Phoenix, the East Valley, Scottsdale, Glendale, and more. Day-in and day-out. Proven and respected closer with many significant sales around Phoenix over the last several years. Expert negotiator and marketer with many sales that set the highest price ever for the zip code. Since 2015, I have sold a wide range of multi-family and land. Some examples include numerous $1 million+ closings in Central Phoenix from 7-30 units; several $1 million+ sales in Mesa/Tempe/Chandler/AJ; a 100 unit complex in Glendale, a 28 unit in Buckeye, and many, many 2-4 unit buildings! Started in real estate while in law school; getting my feet wet selling, managing, and investing. After graduating with my J.D. in 1995, I started my own real estate brokerage, management, investment, and renovation companies in 1996 in Milwaukee, WI. Eventually, I also started a real estate development company. Over the next 17 years, my entrepreneurial spirit was in overload. I personally acquired and sold close to 500 properties while carving out my niche as a trusted source of everything commercial real estate. At one point, I had well over 100 broker transactions annually and owned over 450 units personally. However, after some struggles during the great recession of 2009-2011, I relocated to sunny Arizona after exhaustive research. The lower barrier of entry, lower cost to operate, and lower tax structure in AZ was too good to pass up. I have not looked back since. The Phoenix area continues year-over-year to have some of the strongest population and high-paying job growth in the US. Those growth patterns directly translate into more real estate demand. The short and long-term future of real estate investment in the Phoenix area looks highly promising. I am available to chat on the phone (602-672-3526)/text anytime; or contact me through email (cstephens@ccim.net); or my website (www.phoenixmulti-family.com).

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Drew Breneman

Cass Stephens CCIM, MBA, J.D.

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The Battle

Drew Breneman

Cass Stephens CCIM, MBA, J.D.

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