Benefits of a Real Estate Fund & How to Mitigate Risk in Today’s Economy | Mikey Taylor Pt. 2 E49

The Rich Somers Report

Rich Somers

Business, Entrepreneurship, Investing

5 • 910 Ratings

🗓️ 18 May 2023

⏱️ 45 minutes

🔗️ Recording | iTunes | RSS

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Summary

Serial entrepreneur and former professional skateboarder, Mikey Taylor is the President and Managing Principal of Commune Capital, a private equity firm that invests in commercial real estate. After a successful 14 year skateboarding career, Mikey began the transition into entrepreneurship and business building, when he recognized an opportunity in the emerging craft beer industry. He utilized his marketing experience from skateboarding to co-found Saint Archer Brewery. In part 2 of their int...

Transcript

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0:00.0	I didn't want to just be an investor.
0:02.0	Like there's, I really enjoy building business.
0:05.0	I really enjoy coming up with an idea
0:07.8	and having to figure out how to bring that to reality.
0:09.9	I like that part.
0:10.8	But what I liked about St Archer
0:12.1	was having to go out and raise money. Like I like that we liked about St. Archer was having to go out and raise money.
0:13.2	Like I like that we had a business plan and a concept that we couldn't afford
0:17.3	ourselves and we had to go out pitch people, bring them in and then manage the money
0:21.8	responsibly and then we got to see it
0:23.9	full circle and I'll tell you there's nothing better than putting dollars in
0:28.0	somebody's hands. It's the greatest feeling.
0:30.9	Welcome to the Rich Shumers report where we talk real estate, business and
0:34.8	wealth building all while keeping it real. No fluff, no BS. I hope that you enjoy
0:39.3	the show. At this point, where did real estate investing come into the picture?
0:51.2	Yeah, so real estate investing came into the picture when I was younger.
0:54.2	My mentor that my mom connected me with my parents.
0:57.2	That was the financial advisor?
0:58.2	He had a brother who ran a storage portfolio and that was my introduction into investing passively in the commercial real estate.
1:05.0	And there was something about real estate that felt very comfortable, and I always had confidence that was going to be there.
1:11.0	And then when I started investing in it passively, I started getting like in that
1:14.8	offering the cash flow is paid out quarterly, right? So I kept getting these quarterly checks.
	...

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