EP.12 / Mikey Taylor on Commune Capital and Multifamily Investing in LA
In our conversation, Mikey discusses his transition from professional sports to multifamily investments, the common themes that connect his eclectic career, and why he is so excited about investing in real estate in California.
Mikey emphasizes the importance of setting goals as a source of his motivation. Despite the high barriers to entry and political headwinds for real estate developers wanting to invest in California, Mikey is bullish on the state due to the enormous housing shortage which will likely persist for many years. In locating investments, Commune identifies the most undersupplied local markets such as Ventura as part of their overall investment strategy.
Partnerships are key to success in real estate investing, and he touches on his company's achievements in working with third party developers. For their Mar Vista project, which is currently under construction, we talk about the return metrics that attracted Mikey to develop a co-living property with Common as their operator.
We also talk about why Commune's branding and social media presence attract a younger investor demographic eager to build wealth, and how Mikey hopes to grow the company dramatically over the next 5 years by expanding the size of their funds, and increasing their educational offerings.
About Mikey Taylor
Mikey Taylor, Southern California native, professional skateboarder turned serial entrepreneur and city council member of his hometown.
Mikey is a retired professional skateboarder who left an indelible mark on the skateboarding world, participating in elite action sports events as X Games.
Transitioning to entrepreneurship, Mikey recognized the potential in the emerging craft beer industry and leveraged his skateboarding-inspired marketing expertise to co-found Saint Archer Brewery. The venture swiftly became one of the fastest-growing breweries in California, subsequently being acquired by Molson/Coors.
Following this triumph, Mikey set his sights on the commercial real estate market, leading him to establish Commune Capital, a private equity firm. The firm holds a central principle of positively influencing the cities where they construct or enhance infrastructure. As President and Managing Principal, Mikey continues to drive Commune Capital's growth and impact.
Balancing his professional endeavors, Mikey cherishes his role as a devoted family man. He and his wife, Jen, are proud parents to four beautiful children: Scarlett, 11, Amelia, 9, Elliot, 3, and their newest addition, Vivian, 1. They reside in Thousand Oaks, continuing to contribute to the community that Mikey has always called home. He continues to shape his community, not only through his professional accomplishments but also through his dedication to giving back and making a positive impact. His story serves as an inspiring example of how one individual's passion, talent, and commitment can transcend boundaries, leaving a lasting legacy that extends far beyond the skateboard.
Topics Covered
How Mikey's skateboarding and brewery experiences shaped his approach to business and real estate investing
The steps Mikey takes to find the right investors
How Mikey navigated his career change and why he was well positioned post-skateboarding
The story behind St Archer, the brewery he founded and sold to Molson-Coors
Commune Capital's deal criteria and fund offerings
Their investment in a ground-up co-living building in Mar Vista
Today’s financing challenges for real estate investments and projections for what may change in 2024
Highlighting Commune's leadership team and Mikey's vision for the next five years
Mikey's work in city council and how it translates to his business endeavors
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