We all would love to retire before the gray hair starts showing up. As you probably know, there’s no one path to retirement. Everyone’s plan is going to look different based on our various backgrounds, skillsets, experience, income levels, risk tolerance, familial status, lifestyle, ancillary goals, and the list goes on. I have always believed building streams of income is a far superior philosophy to building up a savings nest egg and hoping you don’t outlive it.
In this episode of Skyline Views, Army veteran Bryce Stclair shares his story of how he strategized and executed his plan to dive into real estate and create financial independence as efficiently and effectively as possible. He’s based in Tennessee, and gives helpful insights on what it’s like investing in those markets. There are a lot of good tips and insights in his story that we all can learn from.
Key Points:
Bryce recalls his first deal (0:37)
His plan starting out (2:02)
Co-hosting Air BnB, and differences in the hosting platforms (3:32)
Next steps in scaling (4:50)
A critical step when buying a short-term rental (7:46)
Branching out into a new area (10:54)
Creating extra capital along the way (12:38)
Sweet spot for LTV on short-term rentals (13:37)
Tax strategies around short-term rentals (15:18)
The one real estate book he read, and his evaluation process (16:28)
Benefits of teaming up (19:07)
What does his retirement look like going forward? (24:26)
Resources:
Email Bryce - stclairbryce (at) gmail.com
Loopholes of Real Estate Investing - https://www.amazon.com/Loopholes-of-Real-Estate-audiobook/dp/B00HYEOSAS
Is your real estate portfolio running like a well-oiled machine? Do you know how you stack up? Find helpful resources here – http://mrcdmills.com/resources/
Learn more about The Haney Company here – https://www.thehaneycompany.com/
Know any new parents? Order them a copy of Legacy 101 here – https://www.amazon.com/Legacy-101-Practical-Christopher-Mills/dp/0692684050
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