Nov 19, 2019
In the last 12 months, PassiveInvesting.com has added $120MM in apartments to their portfolio, bringing the total value up to $225MM. This explosive multifamily growth is driven by a partnership between Danny Randazzo and his partners Dan and Brandon. On today’s episode, Danny shares more about this partnership and why they love the North and South Carolina markets.
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Key Insights
- Started investing with a $1MM commercial office building
- Multifamily is the best asset class to protect your money, force appreciation, monthly cash flow, and tax advantages
- Left SF Bay Area and moved to Charleston, SC to focus on investing
- Invest from TX, FL, and SC for growth potential and increase in demand
- Properties generating $1MM in gross revenue allow for full-time professional on-site management
- PassiveInvesting.com’s growth has been driven by partnership with Brandon and Dan, enabling the three to focus on their strengths
- How to find a partner: have an open mind to own a smaller portion of more deals, clear on skills and passions and look for complementary partners
- Great communication and clear boundaries are key for partnerships
- Within NC and SC, Danny and his team like Charlotte, Raleigh, Greenville, and Charleston
- When reviewing submarkets, review avg. HHI and ensure renovated rents are still affordable for the area
Partner: Download a Free Sample Apartment Deal Package
Bull’s Eye Tips:
Most Recommended Book:
Mistakes Millionaires Make by Harry Clark
Most Recommended Digital/Mobile Resource:
CoStar
Daily Habit:
Learn something new every day
Wish I Knew 12 Months Ago:
The value of CoStar
Advice for College Student:
Get your finances right
Current Curiosity:
Ways to be different
Best Place to Grab a Bite:
Melfi’s
Connect with Danny:
Website: DannyRandazzo.com
Website: PassiveInvesting.com
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