Click HERE to listen to part 2 of The Side Business Interview
About the Interview:
- Full-time Manager with Deloitte Consulting
- House-hacked while living in San Francisco and covering his entire living expenses – Listen to this story
- Built a side business called Randazzo Capital through which he now controls over $4.5M in commercial and residential real estate.
- Favorite Books: Rich Dad Poor Dad by Robert Kiyosaki , Mistakes Millionaires Make by Harry Clark, Awaken the Giant Within by Tony Robbins, Tools of Titans by Tim Ferriss
- Why Danny chose commercial real estate as a second stream of income [0:55]
- Three things Danny evaluates when considering a property [ [3:30]
- Determining your annual cash flow [5:22]
- Property management expenses [9:00]
- Three high level economic indicators to review and where to find them [11:23]
- What Danny learned while renting his first office space [16:20]
- Grow your side business to break the paycheck to paycheck cycle [18:45]
- At what point do you achieve financial independence [22:33]
- Important life lesson Danny learned from his time in Abu Dhabi [24:00]
- Reduce time spent in management oversight with triple net leases [2:15]
- Invest in your general area to make first hand observations and validate information [11:23]
- Continue to build your income stream to prepare for the lifestyle you want to achieve [22:33]
- Identify your goal and why you doing it to keep you focused [27:50]