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Ep 131: Guaranteed Gradual Growth with Mike Taravella


Being a multifamily investor isn’t about making it big by juggling as many syndication deals as you can put your name to. As Mike Travella explains in this episode, wealth creation can be a boring, long process of searching for the right deal and to passively or actively invest in. A CPA turned asset manager, today we speak with Mike to gain his insights into successful investing. After chatting about how collaborative the real estate community is, we talk about how being able to see differently can be a keen competitive advantage. Mike then dives into why understanding the story behind a deal can be as important as underwriting it. A highlight of our conversation, we look into why you need to do things that no one else is willing to do in order to land the best deals. While unpacking how Mike goes that extra mile, we touch on the role that mindset, seller targeting, and relationships play in building deals. Later, we explore responsible ways of developing your business and why you should scale your business alongside your operational capabilities. As Mike points out, we need to be putting the systems in place that can propel our investing businesses forward. Tune in to hear Mike’s take on achieving consistent growth.


Key Points From This Episode:

  • Mike Taravella shares details about his real estate journey.

  • Reflections on how open and collaborative the real estate community is.

  • Defining value-add as being able to see something that others don’t.

  • Exploring the current challenges when syndicating deals.

  • Why the story behind the deals matters as much as the underwriting.

  • Understanding that no deal is perfect.

  • The importance of never setting your projections too far into the future.

  • Hear Mike’s advice on standing out from the crowd.

  • Why fostering relationships can be a key part of your value proposition.

  • How bad education is giving new investors the wrong expectations.

  • Why it’s okay to be a passive investor.

  • Scaling your skills and business by growing responsibly.

  • Achieving your potential by creating systems that propel your business forward.


Tweetables:

“After underwriting for two years, I’ve learned to underwrite less and see if the story makes sense.” — Mike Taravella [0:16:51]

“You have to do things that no one else is willing to do to land the right deal.” — Mike Taravella [0:30:14]

“I tell people that they don’t need to be GPs on deals. Because they’re not ready for those 3 AM calls. It’s okay to be a passive investor because wealth creation can be a boring, long process.” — Mike Taravella [0:40:40]

“It’s okay to start small and grow responsibly. And if you want to go bigger then talk to lawyers because they’re your friends.” — Mike Taravella [0:43:15]


Links Mentioned in Today’s Episode:

Mike Taravella

Mike Taravella Email

Mike Taravella on LinkedIn

Mike Taravella on Twitter

Rand Commercial Real Estate

Daniel Gilbert

Quicken Loans

BiggerPockets

Naval Ravikant

Clockwork: Design Your Business to Run Itself on Amazon

John Cohen on LinkedIn

John Cohen on Twitter

Chris Grenzig on LinkedIn

Chris Grenzig on Twitter


Get in Touch

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The Real Estate Investing Experience - https://www.thereiexp.com/

The REI Experience YouTube - https://www.youtube.com/channel/UCjt6pmkA8ogACZ26oqhBM0g

The Real Estate Investing Experience Podcast - https://podcasts.apple.com/us/podcast/the-real-estate-investing-experience/id1481520260

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