Today we’d like to introduce you to Taylor Johnson.
Thanks for sharing your story with us Taylor. So, let’s start at the beginning and we can move on from there.
I got started in real estate full time around 3 years ago, but the story starts way before then! My mom had me when she was 20 years old and we moved out to Boston when I was around 4 years old so that she could get her master’s degree from Boston University. She came to Boston with only $1000 in her bank account and worked incredibly hard to get where she is today. In the late 90’s my mom was finally able to purchase our first home in Somerville. It was a small 2 family that needed a ton of work. My mom put a lot into that property to make it livable and rentable. After investing in this house and turning over the rents we were able to buy another property and keep the house in Somerville as an investment property which we still have and is worth over 1.1 Million today.
Because I was able to witness the power of real estate through this property and the several other properties my family and wife’s family invested in over the years I made the jump. During and after college I spent a total of 7 years working in Mental Health helping people with mental illness and substance abuse before switching to real estate as my full-time job. I got my real estate license and went right to work with a brokerage based out of Dorchester called the Mandrell Company. They focused on multi-family investment properties in the Boston area and it was the perfect place for me to get started. I was able to connect with developers, investors, brokers, buyers and sellers from all different walks of life which was monumental for me.
I got to see and be a part of the industry I always wanted to be a part of and I was actually able to get into a few projects myself with some developers and investors as partners within my first year. I knew that I needed the support from people in the industry with a track record to help guide me through the process as a rookie investor and developer and the partnerships ended up working out great. Like any relationship, there were ups and downs and definitely, everything did not go perfectly. However, I did get what I wanted, which was knowledge. I learned so much from the what to do perspective, and a hell of a lot more from the what not to do side of things.
Along the way, I picked up a new buyer client, Lior Rozhansky, who was just starting his leap into real estate investing for himself. He was looking to buy a multi-family property that would be his first deal. There was definitely something different about this client from the start. He was incredibly smart and was very active throughout the process. He was even teaching me some things as we went along. I ended up helping him get a 3 family in Everett that was a fantastic deal and the relationship grew. We ended up partnering on a few deals, helped him get licensed, and he started working with me part-time. Not long after that, he ended up quitting his full-time 9-5 job and we opened our own company together Open Door Real Estate Boston.
Together we are now 50/50 partners in everything real estate. We are both full-time licensed realtors with Engel & Volkers Boston and we help people buy and sell real estate on a daily basis. While our company Open Door Real Estate Boston is continuing to pick up new projects to either renovate and sell for a profit or to add to our rental portfolio.
The best part about our relationship is that it is definitely a complementary one. What I am good at are not necessarily his strongest abilities and he is excellent in a lot of the areas I struggle with. Whether it is analysis, financing, deal structure, construction, project management, deal acquisition etc. using each other’s strengths has been crucial to our success.
Today we currently have several development projects that we are working on in East Boston, Somerville, and Savin Hill Dorchester. We are actively growing this side of the business and are looking to get into some bigger projects in the near future. In this market, the majority of what we have going on right now are multi-family condo conversions. For example, we will buy an extremely distressed 3 family, completely renovate everything, new siding, framing, roofing, heating/cooling systems, plumbing, floor plan etc. Then we will convert the 3 families into 3 condos to sell off each unit individually. With the market, the way that it is today, finding more properties to hold for rental units is a much harder task to accomplish.
That being said, we are still actively pursuing more rental properties locally and are considering larger rental syndication in other markets outside of Boston. As long as the numbers work and deal is fair, I am definitely interested. When the market changes, which it eventually will, we have a completely different model ready to go.
We’re always bombarded by how great it is to pursue your passion, etc – but we’ve spoken with enough people to know that it’s not always easy. Overall, would you say things have been easy for you?
The biggest obstacle was definitely getting started and finding the right people to work with and learn from. It was really hard to get involved in a project when you are afraid that you don’t know what you’re doing. I was afraid of screwing up so bad, that I ended up having paralysis by analysis. Luckily I did find people who had the experience giving me the push that I needed to feel comfortable doing the first few.
There are a lot of problems you face on a daily basis in my business. Whether it is a Zoning issue, Permitting, Neighbors, Architects, Contractors, or the other million things that come up. When I first started, all of these were daunting things to deal with. Now having been through them it is definitely a lot less stressful, and I can really focus on the big picture and handle the problems as they come, which they always do.
So let’s switch gears a bit and go into the Open Door Real Estate Boston story. Tell us more about the business.
We are real estate investment and development company. We really try to do the best for our end user and the community we are working in. At the end of the day, we are putting out a product that someone is going to buy.
There are a lot of flippers out there, but we want the end buyer who gets our product to get what they think they are buying. When it comes to our renovations, no corners are cut, we do everything the right way. I don’t want to get calls from the buyers that something is wrong because we tried to save a buck.
I really want a happy buyer that appreciates the attention to detail. We do everything up-front and honest, our reputation means everything to us and nothing means more to us than satisfied clients.
Has luck played a meaningful role in your life and business?
When it comes to business, I don’t really believe in luck, I think that you make your own luck. I do feel lucky to have the family, friends, and support network that I have and I am lucky to have grown up in Boston. I love Boston and am lucky to have grown up here, we have the best schools and hospitals in the world and because of that, there will always be a very strong economy here.
Contact Info:
- Address: 46 Gloucester Street Boston MA 02115
- Website: http://www.taylorandlior.com/
- Phone: 617-820-8964
- Email: taylor.johnson@evusa.com
- Instagram: https://www.instagram.com/taylorandliorrealestate/?hl=en
- Facebook: https://business.facebook.com/OpenDoorBoston/
- Twitter: https://twitter.com/taylorjrealty
- Other: www.taylorjohnson.evusa.com
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