David Taran is a firm believer in pursuing a diverse and balanced life. David is a licensed real estate broker in the state of California and a practicing lawyer for California, New York, Florida, and Quebec. As the co-founder of Sunstar Capital, David brings more than 26 years of experience that includes many different aspects of the investment process including negotiation, acquisition, finances, development, redevelopment, construction, and investment and property management.
Sunstar Capital is a recently launched commercial real estate company focused on high-growth markets in the Western United States. The venture utilizes the merging of several seasoned professionals, including co-founder, Mark Skeen.
Prior to his work at Sunstar, David was the founder of Divco West Properties, and also worked as a managing partner at his family’s manufacturing and retailing business. This venture, which operated on a global scale, gave him a perfect place to hone his diverse skill set that he continues to use today. As a partner, he worked on capital investments, strategic and financial planning, sales, real estate acquisitions, real estate negotiation, and currency trading and management.
David Taran also worked as a practicing attorney at Graham & James in Los Angeles. There, he specialized in Tax, Corporate, and Real Estate law. David holds a DEC degree from McGill University, an L.L.L degree from the University of Ottawa, a J.D. degree from Columbia University, and a Masters in Tax Law from New York University.
Throughout the span of his career, David has acquired $2.3 billion in real estate, which includes over 700 acres of land, 1,800 multi-family residential units, 449 hotel rooms, and 13.8 million square feet of buildings. David’s successful record is a testament to his diverse and balanced portfolio. David credits his rich portfolio to his earlier roles in as a managing partner and practicing attorney.
Meaningful, Mindful and Balanced
On a personal level, David is an advocate for creating a balanced, meaningful life. Despite his success, David upholds that a life filled with meaning and intent is far more enjoyable than a profitable one. To this end, he continues to support Project Happiness, a thriving non-profit started by his wife, Randy. Project Happiness is dedicated to providing the tools and resources needed for individuals to live an empowered, happier life.
David is proud to support the organization and serves on the board of directors. As a board member, David brings his unique experience and skill set to the table in an advisory capacity. His personal interest in the organization’s mission combined with his professional knowledge makes him an invaluable member of the board and his local community.
David’s continued passion for promoting greater happiness and meaning in everyday life continues to launch his career and leadership skills in exciting directions.
Connect with David
Recent Blog Posts from David:
When people think of investing, they often think of the more typical avenues like rental properties that require consistent management, maintenance, and general upkeep. While these more conventional real estate investment avenues offer a lot of opportunity and substantial profit margins, they aren’t feasible options for every investor.
Fix and Flips
Flipping has become a particularly popular investment approach (cue the HGTV reel) over the last few years. It allows investors to flex their design skills a bit before relisting for a profit. As Diala Taneeb explains, “Fix-and-flips are for investors looking for active, short-term investments to quickly make money. Fix-and-flips are properties that are bought, renovated, and then sold. They are not a get-rich-quick scheme but if done correctly, investors can quickly profit from this strategy.” It’s important to remember inspections though. Flips typically center on cosmetic fixes, not dramatic rewiring, plumbing, etcetera. Thorough research and inspections also help to safeguard your profits.
REITs are particularly popular with investors because of the opportunity to make somewhat hands-free investments in a sector that is usually plagued with renovations and management work. This strategy is also known for its security given that investors purchase a small stake in a variety of properties rather than buying majority control over a single property that could make or break your investment.
Usually, people see no work necessary or move-in ready properties for their limited profit potential. Turnkey rental trends set to change that though. Plus they offer excellent opportunities for more removed or remote investors. As Alex Hemani says, “The turnkey provider determines suitable locations for lucrative investments through thorough research, purchases and upgrades the property, locates and vets tenants, sells to you a property at retail price with a tenant installed and performs ongoing maintenance and management. In some cases, the turnkey provider will even guarantee the rent for a full year.”
Wholesaling requires a different kind of hands-on approach than more conventional strategies, but can be considerably profitable in minimal time. Much like wholesale retail, wholesale real estate investors find underpriced properties, purchase them and then connect with interested buyers who then purchase it at a higher rate.
These transaction cycles take place quickly creating nearly immediate cash flow, but this approach also requires an extensive amount of real estate background and a network to market your properties. As Than Merrill explains, “Before you even start looking for your first wholesale deal, I maintain that you should already have a buyers list in place. You see, as a wholesaler, your sole purpose is to act as the “middleman” between a seller and a buyer. That said, it’s in your best interest to know who you are selling to before you even find a deal.”
Anyone who knows me, knows I love being able to raise my kids in California. From the swath of outdoor activities and beaches to the the year-round sunshine, what’s not to love? My point is, the golden state is a great place for anyone to live, but people sometimes overlook the fact that it’s an especially great place to start or grow a family.
You can teach your kids to love living active lifestyles without being stunted by the winter blues. You gain access to some of the best schools in the country (a major consideration for any new parent). You also land in an area bustling with opportunity. Are you ready to make a move? Maybe you already live in California, but you’re ready to settle down and start a family. These tips and insights can help you find the perfect place to do just that.
Things to Consider
House hunting is never easy, but that’s only exacerbated when planning it around children. It may be safe enough for a twenty-something, but an industrial loft isn’t usually baby-proofed.
- Price: I’m not surprising anyone when I say that price is a major deciding factor in any real estate purchase, but especially in an expensive area like California. With the housing market booming, many California neighborhoods come with a steep price tag. I encourage you to look for places that seem to be on the cusp. As an early adopter, you can live in a local hotspot a few years down the line, but pay half the price for your home compared to your neighbor who bought after the neighborhood made headlines.
- Crime: Equally important — you want to check the crime rate. Is it higher than normal? Has it been rising in the last few years? If your answer is yes to either of these questions — consider that a major red flag. While no one should assume that crime rates and prices run parallel, you do need to commit yourself to some research.
- Family-Oriented: You found the right home at the right price, but you want to be sure the neighborhood is kid-friendly. Are there other young families on your street? Will you have easy access to local parks or beaches? You want to ask all these questions now so you don’t have to gripe about it later. Also, consider making a few drive-bys at peak times to check your bases. While a seller may mention there are a lot of families in the area, they all may land out of your kids’ age range or keep to themselves. If you investigate for yourself, you’ll have a bit more assurance and peace of mind.
That covers my three main considerations, but obviously, everyone sets a different group of priorities. You can find a more extensive comparison of California areas based on varying factors from WalletHub in this article here.
About the Author: David Taran is a real estate investor based out of California. He is the founder and CEO of Sunstar Capital, where he brings over 26 years of professional experience. David and his company work to build strong foundations between investors in the real estate market to bring about exceptional returns. They specialize in acquiring commercial properties in strategic, high-growth areas to create value through targeted capital improvements and leasing programs.
Originally published at patch.com on May 15, 2018.