Passive Wealth Strategy Show - Real Estate for Busy Pros Taylor The Investor

Delve into the captivating world of real estate with Jim Sheils, a full-time real estate investor with 24 years of experience and a fascinating journey of mastering the build-to-rent strategy. Jim shares insight into his lifestyle of working and adventuring, his family education company 18 Summers, why retirement does not interest him, and his advice for investors looking to get involved in building to rent properties. Learn what areas are best avoided when investing in rental properties, the pros and cons of specific designs, the importance of due diligence in property insurance, and much more. 
 
Tune in now and understand why building and renting properties can be a great way to generate income!
 
[00:00 - 07:17] Journey From Real Estate Investor to Build-to-Rent Strategy
Introducing Jim to the show
What keeps him going is the "how" - the ability to work and play from Costa Rica, spend time with family, keep up with health, and take adventures
 
[07:18 - 14:55] Making Build to Rent Deals Work
Focus on high-growth markets with population growth, economic growth, affordability index, and desirable factors
Properties are B+ class with extra finishes like vinyl plank flooring, granite countertops, etc.
Go for established neighborhoods with a good mixture of renters and owners
Have to go to designs for different areas based on hurricane safety and aesthetics
 
[14:56 - 24:22] The Importance of Due Diligence and Property Insurance
Owning too many properties can be a ten-year ache and pain
Insurance costs have gone up in Florida, but vary by area and age of home
New construction is rewarded with lower insurance premiums
Due diligence is essential: visit the site and do market analysis
 
[24:23 - 27:48] Closing Segment
Best investment: Jim's family life
Worst investment: Jim's first properties in Jacksonville, Florida
The most important lesson learned: play to your strengths, not your weaknesses

Quotes:
 
"We always try to go to high-growth markets. We're only focused on Florida because we believe in the fundamentals here. We believe in the landlord laws here, which are super important when investing. You've got to be able to collect your rent." - Jim Sheils
 
"If I could go back 24 years, I'd own less property, a better quality with less leverage." - Jim Sheils

Connect with Jim!
Book: Passive Income Playbook
Website: https://jjplaybook.com 

Apply to Invest with Taylor at www.investwithtaylor.com
 
Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com
 
Please leave a review and help others escape Wall Street and build wealth on Main Street!

Have you ever felt overwhelmed balancing family, work, and ambitions to build wealth through real estate investing? How does one give adequate time to their family, refine investment strategies, and still achieve their financial goals? 
 
In this episode, Taylor welcomes Aileen Prak to discuss balancing life, family, work and real estate investing. Eileen shares her experience setting priorities and goals and refining the investment strategy with her husband. She talks about managing multiple family, work, and investment commitments, including building a network of connections, creating relationships, and setting small goals. She also explains how two partners with different skill sets can successfully work together to achieve their goals through communication and compromise. 
 
Tune in for an insightful conversation on maintaining balance while building wealth!
 
[00:00 - 06:12] Balancing Life, Family, and Real Estate Investing
Focus on the importance of time and how to spend it
Set priorities, goals and delegate responsibilities
Invest in multifamily apartments outside of your comfort zone
Leverage the experience of a sponsor to learn and be passive investors
 
[06:13 - 11:26] Leveraging Strengths and Weaknesses to Achieve Goals
The power of leveraging off each other's strengths and weaknesses
Having a support network for help with kids and other tasks
Identifying individual strengths and weaknesses
Communicating effectively to divide and conquer tasks
Creating a division of line between what is enjoyed doing and what is good at doing
 
[11:27 - 19:31] Navigating Business Goals Together
Set goals based on family and overall life quality
Break down goals into smaller steps
Handle disagreements by understanding each other's perspective
The end goal is the same, but how to get there may require compromise
 
[19:32 - 24:07] Achieving Financial Independence and Spending Time with Family
Don't forget why you are doing it in the first place
Grow business to have time freedom and be able to spend it with kids
Expose kids to real estate without limiting beliefs
Enjoy current job and make a decision when one of them wants to leave
 
[24:08 - 29:40] Closing Segment
Best investment: first house bought
Worst investment: a property with high deferred maintenance and low market value
The most important lesson: always walk away from a bad deal

Quotes:
 
"I wanted to gain more time and freedom to spend more with my family, not be dependent on that W-2, and have that choice to continue working because I wanted to, not because I had to." - Aileen Prak
 
"If you can overcome those limiting beliefs, you can get there and start so much quicker without having to feel like you're not enough. And you totally are, but you need to start making the right moves and start getting outside of your comfort zone, networking with other people." - Aileen Prak

Connect with Aileen!
Website: https://bonavestcapital.com 
Podcast: How Did They Do It? Real Estate

Apply to Invest with Taylor at www.investwithtaylor.com
 
Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com
 
Please leave a review and help others escape Wall Street and build wealth on Main Street!

The SEC on Monday announced charges against an alleged Ponzi scheme. Let's dig into their complaints and steps investors can take to protect themselves before getting into a scam. More info on the complaint: https://www.sec.gov/news/press-release/2023-196
 
Learn more about investing with Taylor at https://www.passivewealthstrategy.com/join-the-investor-club/

Have you ever dreamt of breaking the chains of routine, retiring early, and traveling the world? 
 
In this episode, we chat with Erik Hemingway, a highly experienced self-storage investor who achieved early retirement and used his wealth to travel the world. We discuss his journey of building his first storage in Arizona in 2006, moving to Costa Rica a year later, and living on a sailboat in Greece for three and half years while traveling to 24 countries. We learn how they sold their cars, houses, and possessions to make the journey possible and met other boaters who encouraged them. After returning to the US, Erik reveals how he invested in fixing and flipping, constructing buildings, and converting them into storage units to build a nest egg. 
 
Join us as we dive deep into Erik's story of taking risks and achieving financial freedom through self-storage investing!
 
[00:00 - 07:47] From Construction to Self Storage Investor
Introducing Erik to the show
He and his family took an early retirement through self-storage investing and traveled the world
 
[07:48 - 15:17] Exploring the Possibilities Through Boating and Real Estate Investing
Living on a boat is economical and freeing
Found fix and flips, built new construction, and got back into storage
Launched Nomad Capital off the boat adventure
 
[15:18 - 22:47] Facing Fear and Following Gut
Heavy-value add projects like renovating old buildings, grocery stores, K-marts, hosiery mills, and soda bottling facilities
Fear is a muscle that you can exercise
 
[22:48 - 26:23] Closing Segment
Best investment:
Worst investment:
The most important lesson learned:

Quotes:
 
"One key thing about life is always being willing to be surprised. Let life surprise you. And it's certainly done that for us. And I think that's a great way to live." - Erik Hemingway
 
"It's surprising how little you can live on when you're just not distracted by everything that everybody's telling you when you're not kind of sucked into the consumer stuff of just every day on the treadmill." - Erik Hemingway
 
"Fear is kind of a muscle that you can exercise. And as you step out of your comfort zone, that muscle gets strengthened suddenly. The next stretch is not so hard." - Erik Hemingway

Connect with Erik!
Website: www.NomadCapital.us 
Email: erik@nomadcapital.us
Phone: 910-431-3855

Apply to Invest with Taylor at www.investwithtaylor.com
 
Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com
 
Please leave a review and help others escape Wall Street and build wealth on Main Street!

How does a young intern with a passion for real estate go on to raise over 1.2 billion for student housing projects? 
 
Dive into the world of Fred Pierce, an experienced and successful investor who has raised over 1.2 billion in investments for his student housing projects across 39 states. He'll dive into how he jumped the queue and attracted capital from institutional investors, family offices, and retail investors. We'll hear about the different tiers of investor capital, from friends-and-family capital to country club capital to family office and institutional investors. He'll also walk us through his capital life cycle in commercial real estate and explain the advantages and disadvantages of each type of investor. 
 
Tune in to gain powerful insights from Fred Pierce!
 
[00:00 - 06:22] Becoming a Billion-Dollar Student Housing Investor
Fred Pierce is an experienced real estate investor, having done over 1.2 billion in student housing projects
His journey started when he was 21 and interned at the Goodkin Group, a market research firm
He took his platform national in 2006 and, within 90 days, had 1.2 billion of development rights at two major universities
 
[06:23 - 12:49] How to Leapfrog the First Couple Rungs in Commercial Real Estate
The capital life cycle in commercial real estate consists of four main food groups and niche sectors
Early in their career, people usually start with friends and family capital
Country club capital route is the next tier, which involves friends of your friends and family
The third tier is the family office, managed by millionaires or billionaires
The fourth tier is institutional capital from investment advisors with multi-billion dollar commingled funds
 
[12:50 - 25:59] Exploring the Benefits for Retail and Family Office Investors
Retail investors have been gaining access to student housing investments
Student housing is a defensive and recession-resistant asset class
Starting in 2016, institutional investors began to allocate capital into niche sectors of commercial real estate such as student housing, senior housing, self-storage and data centers
Transaction volume has slowed significantly, and valuations have decreased due to the higher cost of debt
 
[26:00 - 32:20] Closing Segment
Best investment: in Fred's own company
Worst investment: Fred's first and second home purchase due to bad timing.
The most important lesson learned: keep it simple and scalable

Quote:
 
"Keep it simple and scalable if you want to accept exponentially growing your business and your opportunities." - Fred Pierce

Connect with Fred!
Website: https://pepstudent.com 
Number: 619-297-00400

Apply to Invest with Taylor at www.investwithtaylor.com
 
Track your wealth for free with Personal Capital, go to www.escapingwallstreet.com
 
Please leave a review and help others escape Wall Street and build wealth on Main Street!

Taylor goes through 4 steps to build the best team who can run your business FOR you, so you can grow your portfolio without growing your time commitment.
Learn about investing with Taylor at www.investwithtaylor.com