BLDUP Feature Spotlight: Developer Adam Burns - Burns Realty & Investments 07/03/20

adam burns

Adam Burns has been developing single & multi-family homes across the Greater Boston area for the past 9 years and in 2012 founded Burns Realty & Investments. Adam’s passion for real estate began at a young age when at just 16, he purchased, renovated, and rented his first condo. Today, he specializes in Investment Real Estate but is equally experienced in every type of transaction including condo & single-family sales to small retail storefronts or entire strip malls. His firm is in progress on a 19 unit building in East Boston and will begin construction on a larger 20 unit apartment project in South Boston soon. Despite the current pandemic he only expects the business to soar from here (Adam is studying to be a pilot so pardon our pun).

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BLDUP: What is the last book you read that you would recommend as a "must-read" to the construction and design community? Why did you find this book so important?

Adam Burns: Admittedly I read a great deal of fiction as an escape from the every day but the most recent practical non-fiction that I have made my way through would be the test prep book for my private pilot's license. This is a tough business that we are in and we cannot remain singularly focused on this one topic without driving ourselves mad. I believe that it is important to have balance and by testing my boundaries in other areas or reading fiction I seek to find that balance.

BLDUP: Do you have a daily or weekly routine that you follow? If so, how do you feel it has contributed to your success? How has this routine changed/been adjusted given the current situation?

Adam Burns: I am a firm believer in how a routine can shape one's career and offer a path to broader success. Every morning I start with a cup of coffee and by replying to emails from the evening before sent by night owls or international clients and investors. Before new emails or phone calls come pouring in I religiously ensure that I get in my workout so that I can go through the day clear-headed and feeling as if I have already accomplished at least one thing. From that point onward until the evening no two days are the same. From showings to site meetings or accounting questions to HR responsibilities as an owner of a small business I wear many hats and sometimes I wear them all at once. Although no two days are the same they always start and end with time in the office. Without fail my evenings end by spending time with my family because they are the ultimate reason for the crazy hustle and 60+ hour work weeks. This routine has not changed drastically given the current situation only adapted to the new challenges and kept on moving.


BLDUP: What do you foresee for the future of Boston's development? The past few months have brought on a unique set of challenges, how has this affected your business in the short term. Do you expect to see long term effects on your projects?

 

Adam Burns: This is a hard one to have any concrete answers for. A lot of Boston's future of development will depend on what business are able to reopen when they are allowed to do so, what colleges bring students back in the fall, and who is able to go back to work in the end. If businesses reopen as we hope them to and people are able to right back to work I think we will see the V-shaped rebound that a lot of people are hoping for but if we do not then my guess is that we are going to be in for a longer ride back to the top. At the end of the day Boston is strong and we will come out the other side of this stronger than ever.  Thankfully we have found many ways to adapt and take advantage of virtual technologies. A lot of our showings have moved to full virtual tours and our meetings with staff that used to occur in person now happen over Zoom. The greatest struggle for us was the construction shutdown but we used that time to plan and purchase supplies to make our job sites safe when they reopened.  

At present we see a balance in the market where prices have remained relatively stable. Some buyers have departed the market but there is also far less inventory now than there would typically be this time of year so we are seeing a balance between supply and demand. I would perhaps even go one step further and say there has been a shift toward a market shortage as evidenced by continued bidding wars.

 

This will not last forever as more units deliver and sellers who have been waiting on the sidelines return to the market. The hope is that buyers return just as vehemently as sellers while the virus wanes. If this does happen then there could be some reduction in pricing and the industry should prepare for this as a possibility. 

 

BLDUP: What upcoming projects are you most excited about?

Adam Burns: Every one of our projects is exciting in its own way but I am most excited for the 20 unit apartment building along Old Colony Avenue that we will be constructing in Boston very soon. The reason for my excitement is some of the neat technologies that we are taking advantage of such as secant piles, automated parking systems, and fire-rated wood to replace the steel decking.

BLDUP: What other types of projects are you looking for right now (if any)? Certain areas, project type/size?

Adam Burns: We are always looking for deals that we can go through the entitlements process on. I enjoy being involved in the permitting of the project that we will eventually construct. Our primary neighborhoods of focus are South Boston, Dorchester, Mission Hill, Dudley, and Lower Roxbury. Our primary focus is on sites that would allow for a minimum of 15 units.

BLDUP: Have you had a mentor or someone who has helped you during your career? What are the most valuable lessons you learned from that person?

Adam Burns: I have had quite a few friends over the years that offer guidance in their own ways. Just as I don't know everything I also know that there is no one person that can offer guidance on every topic. There are definitely friends that I lean on for advice more heavily than others who are also in this business and for them I am grateful.  

The most valuable lesson I have learned from a friend or mentor over the years is that you are going to lose sometimes and you need to know when to take the loss. There have been times, albeit rare, that I have had tens of thousands of dollars sunk into the permitting of a project and have needed to walk away. It is part of the business and sometimes that harder you hold on you lose in the end.

BLDUP: What do you hope for the future of your company in the next 30 years? What legacy do you want to leave?

Adam Burns: I hope to continue to develop safe and comfortable housing for both homeowners and renters to enjoy in Boston and beyond.

BLDUP: What is a favorite quote that inspires you or you strive to live by?

Adam Burns: You can't stop the waves from coming but you can always learn to surf.

Contributor Bio

Burns

Burns Realty & Investments (BRI) is a locally owned and operated Boston based real estate brokerage founded by Adam Burns in 2012. BRI was founded on two core values. First is our dedication to our clients. Unlike other agencies, we treat each client as a relationship that is to be fostered and expanded upon rather than just a paycheck. Second, we are more than just a real estate office. We are a family and a team. Every member of the Burns Realty & Investments team shares in the company's success and is encouraged to help one another for the greater good of the client-agent relationship. We set out every day to create a memorable and noteworthy experience for our consumers that is head and shoulders above the rest. We will go the extra mile to ensure our client's satisfaction. 

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