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How Strong Partnerships Lead to Explosive Growth with Danny Randazzo, Episode 140

November 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. Danny moved from the San Francisco Bay Area to Charleston, SC due to the growing demographics and change in lifestyle. On today’s episode, Danny shares more about his booming partnership and why they love the North and South Carolina markets.  

 

Partner: Join me at the Best Ever Conference plus 5% discount with 5DEAL

 

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 everyday

 

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

 

Leave us a review and rating on Apple Podcasts or Spotify. Be sure to check out more info at TargetMarketInsights.com.

 

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