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] Diversify Your Portfolio Into Short Term Rentals

• 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] Do Your Homework Before Diving Into Short-term Rentals

• 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
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• 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

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