Q1 2025 Team Spotlight: Steven Brown
STEVEN BROWN | Director, SPI Advisory
Steven Brown
is a Director at SPI Advisory. He has been instrumental in the growth and success of the company since its founding, working alongside principals Michael Becker and Sean Mabarak. Drawing from his background as a business owner, Steven brings a valuable entrepreneurial mindset to the SPI team. His responsibilities include facilitating the seamless execution of property acquisitions and dispositions, as well as project management for advisory projects, loan brokerage services, acting as the company’s main liaison, and negotiating insurance agreements.
Born and raised in Austin, Texas, Steven is an avid outdoorsman and world traveler, passionate about exploring nature. Throughout his career, he has played a critical role in closing over $3 billion in real estate transactions, ensuring SPI targets properties that deliver optimal value for investors.
I sat down with Steven to discuss his experiences and how they have shaped his contributions to SPI's growth.
Describe your responsibilities and day-to-day work at SPI.
SB: “My role is flexible, meaning I’m involved in many aspects of the business. Since SPI’s inception, I’ve had hands-on experience in every step. There isn't a part of this business where I don't have deep exposure.
My primary focus is on acquisitions, dispositions, and overseeing the escrow process. I manage key relationships with larger equity partners, ensure financial documents are in order, and align everything smoothly between lenders, legal counsel, investors, and SPI. My approach is highly analytical and pattern-driven, allowing me to identify risks that others might overlook. Ultimately, my goal is to protect SPI's long-term success.”
How have your responsibilities changed since you started at SPI?
SB: “In the beginning, everyone did everything together. As we grew, our roles shifted. For a while, I was primarily focused on closing deals. Over the past couple of years, I’ve taken on more responsibility with insurance, saving the company significant money. But I’m working on offloading that role.
Looking forward, I want to transition into a more directorial role, focusing on portfolio analysis while still directing closings. I see this as a perfect fit for my skill set, especially in creative problem-solving. I’m excited to dive deeper into identifying inefficiencies and improving processes.
Sean, Becker, and I have shifted our decision-making. Now, they’re less hands-on, and I’m taking on more responsibility. This shift has been important for my role and for bringing more work satisfaction. I’m looking forward to pushing that evolution further.”
You’ve always had an entrepreneurial spirit. Tell me about the businesses you owned and how those experiences have influenced your role at SPI.
SB: “I've always had an entrepreneurial mindset and still pursue various projects outside of SPI. It started in college with several self-employed ventures. Most notably, I ran a construction company called "Tilezaic," specializing in flooring and mosaics. I worked with tile, creating custom flooring, kitchen backsplashes, and intricate designs for high-end clients.
I also played a lot of poker during college, during the poker boom. I was consistently profitable, and funnily enough, Sean Callaway (Director of Acquisitions) has a poker background as well. My mom got into it too, and 12 years later, she still plays professionally.
More recently, I’ve been deep-diving into AI. I spend most of my free time learning about the latest trends and looking for opportunities to apply them at SPI and in my projects. I’ve been learning coding and technical skills to perhaps develop something for SPI.”
What did you learn from your past entrepreneurial experiences?
SB: “The easiest thing to do is quit. The only real obstacle to achieving your goals is inaction. Just get up, move, and take action. That’s probably the biggest lesson. I’ve failed plenty of times and lost money, but every failure is a lesson that helps you improve.
In business, it's easy to get 'stuck in the weeds.' Stepping back and seeing the bigger picture is crucial. You can overcome any shortcoming; it just might take more effort."
How do you stay motivated in the multifamily real estate industry, especially when the market fluctuates, or a deal doesn’t go as planned?
SB: “I’m a big believer that time heals most wounds. When you experience only good times, it creates a false sense of security. Tough lessons, like those learned during the 2008 financial crisis, prepare you for both bull and bear markets. Even in strong markets, cutting losses and managing risk helps you buy better properties. When interest rates skyrocketed, many firms lost big because they were over-leveraged or had bought in weak markets. We were fortunate enough to recognize the market changes early and adjust. That ability to pivot comes from experience.
We see downturns as a chance to reassess and move forward smarter. When times are good again, we’ll excel because of what we’ve learned.”