John Casmon

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

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.

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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

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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