Ep. 77 - Mastering Health, Wealth, & Happiness with Taylor Jones The Art of Winning

Taylor is the head of Acquisitions for Techvestor, a Short-Term Rental Investment firm that allows people to invest passively in Short Term Rentals. When Taylor is not acquiring properties, he can be found on the golf course. If you are interested in starting your short-term investing journey, be sure to check Techvestor!
 
In this episode, Wesley shares his experience starting in real estate during COVID-19 and emphasizes the need to learn before investing. Wesley discusses how he quit a sales job for short-term rentals, scaling up to 81 properties with Techvestor, and the goal of selling to a larger institution. He discusses Airbnb investment as an owner-operator or passive investor, data analysis in property purchase, and evaluating markets for regulation, viability, and returns. The importance of standardization and balancing risk and reward in building a portfolio is also highlighted. He also covers health and fitness, including finding what works best and being flexible in daily routines for mental clarity and productivity.
 
 
[00:00 - 14:29] Short-Term Investing Made Easy
·       Taylor Jones is introduced to the show.
·       Taylor explains his passion for investing in real estate and why it is a way to secure a financial future for oneself and one's family.
·       Taylor discusses his experience in creating profitable ways of investing to use for life and pass on to the family. And how Techvestor uses data and analysis to make safe and risk-averse decisions in purchasing investment properties.
 
[14:29 - 43:53] Passive Investing and Data-Driven Decisions
·       Techvestor uses a mathematical approach to determine if a property is worth investing in.
·       Good data partners are essential for the company to make informed decisions.
·       Emotional factors are not considered when investing in short-term rentals.
·       Short-term rentals have fixed operating expenses that must be considered when investing.
·       If a property does not generate enough revenue to cover the expenses, there will be no cash flow.
·       The purchase price of a property must be balanced with its revenue potential to ensure yield left over.
·       ·, Unlike other asset classes, short-term rentals can be a lifestyle investment where people are happy to break even and use the property for vacations.
·       When investing in Airbnb properties, the metrics to look for differ from other properties, such as job growth, population growth, and unemployment. The focus is on transient personnel and property costs.
·       It makes more sense to have a management company for Airbnb properties; a hybrid model works well. Partnering with local businesses for boots on the ground, such as cleaners, contractors, plumbers, and handypersons, is essential. Standardizing expectations and SOPs as much as possible is crucial.
·       Economies of scale are essential, and making the process systematized, automatic, and easy to measure is critical to success.
 
[43:53 – 52:28] Closing Segment
·       What is your favorite way to create wealth or invest?
o   Taylor's favorite way to create wealth or invest is by accumulating hard assets, particularly in real estate. He has a passion for entrepreneurship and believes that setting up a side business or hustle is a great way to set oneself up for success. He does not feel knowledgeable enough about equities and prefers to focus on tangible assets that generate cash flow to build his wealth.
·       How do you know whether you're winning or not?
o   Taylor suggests that success is measured by one's level of happiness, which can be achieved by finding a balance between health, wealth, and happiness. For Taylor, success means enjoying time with family, feeling good waking up each day, and finding joy in work. He believes that happiness is subjectiv