Insider Look at Asset & Property Management with Mike Taravella

Passive Wealth Strategy Show - Real Estate for Busy Pros

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Mike is the Asset Manager at Rand Partners where he is responsible for overseeing over $100M assets under management and has acquired over $15M in commercial real estate. Mike collaborates with Rand’s vertically integrated property management team to ensure the execution of the portfolio’s business plan. Mike is actively pursuing new opportunities within the market and developing relationships with investors basis.

[00:01 - 04:26] Opening Segment

• Get to know Mike Taravella
• Mike talks about Rand Partners and his experience-filled real estate scaling

[04:27 - 12:59] Insider Look at Asset & Property Management

• How Rand Works Vertically Integrated
• Why feedback is like a wave
• Working together to make the business plan a success every day
• There is no right or wrong! Know why you’re still going to fail and still find success
• Being knowledgeable about your own and others’ spaces
• “Just take your time. It’s okay.”

[13:00 - 27:48] Acquiring the Best Team and Products

• Not knowing what’s selling until it’s closed
• Putting People First
• The Best, Buyer, Seller, and Manager You Can Be
• Preparing and being realistic during physical due diligence
• How to be confident that a deal is adequately capitalized
• Mike shares what he thinks about the future of multifamily syndications

[27:49 - 36:27] Closing Segment

• Quick break for our sponsors
  • Groundfloor offers short-term, high-yield real estate debt investments to the general public. Check www.passivewealthstrategy.com/groundfloor/ to get started.
• What is the best investment you've ever made other than your education?
  • His years of experience in accounting
• Mike’s worst investment
  • Day trading

• What is the most important lesson that you've learned in business and investing?
  • “Commit a hundred percent, all in, in whatever you do. Don’t give up until you get there.”
• Connect with my guest. See the links below.

Resources Mentioned:

• Principles

Tweetable Quotes:

“Feedback is like a wave.” - Mike Taravella

“You just have to play to your skill sets.” - Mike Taravella

“Patience is the key in any wealth creation.” - Mike Taravella

“Keep fighting the good fight and success will come to you.” - Mike Taravella

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Connect with Mike Taravella through Facebook, Twitter, Instagram, and LinkedIn. Visit their website https://randcre.com/.

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms.

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