Close your eyes and imagine for a moment how it would feel to quit your W-2 job. Imagine having the freedom to control your own time—and financial destiny. Imagine having the passive income to cover your expenses and provide for your family long-term, without being stuck in those golden handcuffs. If you’re dreaming of handing in a letter of resignation, then multifamily real estate investing may offer the ideal solution.
Danny Randazzo is an author, entrepreneur and full-time real estate investor. He has a background as a financial consultant, advising multibillion-dollar companies in improving revenue performance, but Danny’s ambition to achieve financial freedom led him to move from the Bay Area to Charleston, South Carolina, and build an impressive real estate portfolio with his wife, Caitlin. Now, Danny and his team control $130M in multifamily properties across the country, and he is focused on helping others invest passively in apartment buildings.
Today, Danny joins me to discuss his transition from W-2 employee to full-time real estate investor. He reflects on his decision to move to a market ripe for growth and the impetus behind his pivot to focus fully on multifamily. Danny also offers advice around raising money for syndications, ensuring alignment of interests with potential partners, and leveraging joint ventures to scale your business. Listen in for insight on making the decision to quit your job and pursue real estate full-time and learn why multifamily is the most direct route to financial freedom!
Key Takeaways
How Danny feels about quitting his job
- Corporate job no longer providing what family needs
- Joy in controlling own time and financial destiny
Danny’s transition from employee to full-time investor
- Good personal financial position
- 100% focus to take real estate business next level
How Danny got into real estate
- House hack with extra money from working in UAE
- Decision to move to Charleston, SC (ripe for growth)
Danny’s pivot to focus on apartment buildings
- Benefits in terms of scalability, occupancy protection
- Grew portfolio to control $130M in multifamily
Danny’s guidance around raising money for deals
- Use own equity nest egg for proof of concept
- Educate + share opportunities to invest in real estate
The benefits of passive investing in multifamily
- Cashflow
- Future equity appreciation
- Tax advantages
The role of joint ventures in scaling your business
- Allows for creativity in how do deals
- Work together to achieve greater results
Danny’s top real estate lessons learned
- Alignment of interests with partner’s wants + needs
- Find solutions with help from network
Danny’s advice for aspiring investors on quitting your job
- Get clear on financial needs + goals
- Do math on # of properties to cover expenses
What Danny is excited about moving forward
- Several multifamily deals in pipeline
- Vacation to South Africa with wife
Connect with Danny
The Boy Who Lost His Wallet (Wealth Lessons for Kids) by Danny Randazzo
Resources
Commercial Investing Books by Dolf de Roos
Podcast Show Notes
