Scaling from 0 to 25 Doors thru Short Term and Long Term Rentals with Brian Boyd

Brian Boyd is an attorney in Nashville, TN who practices in the areas of real estate, construction law, business and taxation. He is the owner and managing attorney at Boyd & Wills, PLLC in Brentwood, TN. He started investing in real estate in 2017 as a way to generate passive income. Since then he has taken a hands-on approach to his real estate investing and has advised other clients on the best ways to achieve financial independence through real estate. Brian tells the story of how he bought his first home, paid off his student loan and started investing in real estate. He talks about how his wife got involved in real estate and helped him to buy his second home. He discusses how he scaled up his portfolio by buying more properties and how he ensured that he was working with good bankers who understood his vision. Today, he still practices law and has a wife who works at a Fortune 500 company. He emphasizes that he balances his multiple time commitments by taking on extra work when it is available.

 

[00:01 – 12:40] Opening Segment

  • Brian started investing in real estate in 2007 during the real estate meltdown
  • He bought his first short-term rental property in 2008 and then his first single-family home the following year
    • In 2009, he sold his first single-family home for a $70, 000 profit and then bought his second single-family home
  • He discusses generational wealth building strategy

 

[12:42 – 15:30] 

  • Brian’s real estate agent and his banker helped them buy and sell homes successfully
    • He and his wife advised them to aim small and invest in small homes that would cash flow
  • He advises to have a good real estate agent and have a good banker
    • He did the legal work and, he and his wife bought two single-family homes along the way
    • He says that we are always able to help when they need it
  • He recommends diversifying one’s portfolio into short term rentals, syndication deals, and property management
    • In order to maintain a good cash flow and be able to grow one’s business

 

[15:31 – 25:36] 

  • He recommends doing your homework before diving into the short-term rental game in order
    • Make sure that the property is a good fit for your needs  
    • Make the numbers make sense
  • In a syndication deal, numbers tell a story
    • Find a place that is family-friendly
    • Get a good property manager

 

[25:37 – 34:32] Closing Segment

  • Quick break for our sponsors
  • The first step to growing your wealth is tracking your wealth, income spending and everything else about your finances, you can start tracking your wealth for free and get six free months of wealth advisor.  Learn more about Personal Capital at www.escapingwallstreet.com 
  • What is the best investment you’ve ever made other than your education?
    • Brian says that his best investment that he and his wife have ever made in real estate is getting the right team together
  • What is the worst investment you’ve ever made?
    • Brian says that his worst investment that they made was a stunning, gorgeous, gated community town, but it was in the wrong part of town and they could not rent it out.
    • They broke even after three months
  • What is the most important lesson that you’ve learned in business and investing?
    • “Pigs get fat and hogs get slaughtered.”
    • “Aim small and miss small.”
    • “Do not bite off more than you can chew.”
    • “Don’t be mesmerized by bright and shiny things.”

 

Connect with Brian Boyd through Facebook, LinkedIn, Twitter, and Instagram.  Visit his website http://www.briantboyd.com

 

Invest passively in multiple commercial real estate assets such as apartments, self storage, medical facilities, hotels and more through https://www.passivewealthstrategy.com/crowdstreet/

Participate directly in real estate investment loans on a fractional basis. Go to www.passivewealthstrategy.com/groundfloor/ and get ready to invest on your own terms. 

Join our Passive Investor Club for access to passive commercial real estate investment opportunities.

LEAVE A REVIEW + help someone who wants to explode their business growth by sharing this episode or click here to listen to our previous episodes                   

 

Tweetable Quotes:

“People will help you. This is a great community. We just want to help you invest and be a real estate owner.” – Brian Boyd

“Constantly review your plan, constantly work your plan, but always be willing to change your plan.” – Brian Boyd

About our Guest

Brian Boyd

Brian Boyd is an attorney in Nashville, TN who practices in the areas of real estate, construction law, business and taxation. He is the owner and managing attorney at Boyd & Wills, PLLC in Brentwood, TN. He started investing in real estate in 2017 as a way to generate passive income. Since then he has taken a hands-on approach to his real estate investing and has advised other clients on the best ways to achieve financial independence through real estate.

This episode is brought to you by Roofstock, the world’s largest residential real estate investing marketplace. Open an account for free and start browsing turnkey investment properties today.

We are also supported by You Need a Budget. YNAB is a different kind of personal financial tracking company. They’ll help you track and plan your money with your priorities in mind. Open your trial account today and give it a shot!

About the Host

Taylor on stage

Hi, I’m Taylor. To date I’ve acquired or partnered on over $250 Million in Commercial Real Estate Investments. I help busy professionals invest in multifamily and self storage real estate through my company NT Capital

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Real Listener Reviews

Extremely useful podcast
Extremely useful podcast
@thehappyrexan
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Short, impactful with excellent guests. If you have a full time W-2 job or business and are looking for ways to get involved in real estate on the side, this is for you.
Simple & effective information!
Simple & effective information!
@jjff0987
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This podcast is worth listening to for investors at all levels. The information is simplified for the high level investors but detailed enough to educate seasoned investors about nuances of the business. I recommend!
Awesome Podcast!!!
Awesome Podcast!!!
@Clarisse Gomez
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The host of Passive Wealth Strategies for Busy Professionals podcast highlights all aspects of real estate investing and more in this can’t miss podcast! The host and expert guests offer insightful advice and information that is helpful to anyone that listens!
Great podcast!
Great podcast!
@Owchy
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Love all the information and insights from Taylor and his guest. Fun and entertaining. Highly recommend.
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