Why I stopped buying real estate (and why you should too)

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[@pete86]

Thank you for this video. Makes a lot of sense to max out your profits with less properties. Less headaches and less debt. I'm not a huge fan of the idea of collecting a mountain of debt to receive a trickle of cash flow. Lately I'm leaning more towards owning rentals free and clear - no more debt and max cash flow.

[@jessy9753]

The honesty is appreciated Rob. We do the best we know until we know better. Market conditions have changed and as you guys have mentioned that business plans need to change with current market conditions and you are doing just so. Cheers!

[@nneisler]

Property Investment requires property management...

[@MrWaterbugdesign]

Hahaha The problem here is not real estate, it's the person. Yeah if you're into "keeping up with the Jones" then real estate is a bad investment for you...and so is everything else. Nothing will ever be enough. Nothing you buy, invest return, relationships, etc.. That's a social media lifestyle. It's horrible, never going to be happy long term way to live. I'm old as dirt and I know other real estate investors who are old as dirt. Our investments are as boring as dirt. We're not making videos on social media because we out looking for deals. Boring deals. We think it's fun, but it wouldn't be exciting on social media. Short term rentals have been almost 100% people with no experience in real estate. It's mostly a social media thing. Believe it or not short term rentals have been around for decades. Mostly in vacation markets. We already know how that works. You get a huge rent, but not 365 days a year and it's a lot of work. It's pretty close to running a motel. If you're the first in an area you make good money, but it's not long before others see you making money and they jump in. Long term your profit will depend on how good you are at running a motel. It's a very hard job, high risk, not super profitable. A good solid job. There are many examples of the "next new thing" being very profitable at first, very hot. Then everyone jumps in and margins fall and people who aren't good at doing the job go broke. Remember how hot Ebay once was? Making money selling on Amazon was easy money once. Driving for Uber was once high profit and today you're a cab driver. Long term rentals are boring and keep paying a return.

[@izzytoons]

Long-term rentals are also much healthier for communities, society, civilization, and the species.

[@josesixx8197]

Bro everyone stopped in 2022 you were the only one left 😂

[@ShaunCapoferri]

Huh, Care to elaborate on this. Please provide your podcast that showed that you did differently

[@joop912]

@cjspencer5396 You area are you in? The prices are the competition.

[@jamesmclain1449]

Agreed. Most deals have t penciled for a while.

[@mlbonfox8199]

lol

[@anthonywood8587]

You’re right, I would also add that people get sucked into using the business income to support their lifestyle, rather than maintain or upgrade the property. I’ve learned patience in investing, and to take what the market is giving you. Truth is, you can make 15% yield or more on dividend investments now, and do nothing for it. When I was able to finance at 3% and make 50% to 100% cash on cash in real estate, I went all in, but now, people are buying property at zero cash on cash return. Makes no sense.

[@grahamlawlor8361]

Great to see you back on KZbin Rob. I love the one-take, stream of consciousness type edit (non-edit) style. Do more of these. As far as the strategy you are espousing in this one, I'm with you 100%. I have 8 doors and I've been upgrading them continuiously since the pandemic. My revenues are up on a yoy basis every year and nearly every month on a mom basis over 7 years. I continue to think of things I can do to improve. I hired an interior designer - something you never talk about on this show but for me it has been my best investment along the lines of what you're talking about here - particularly in conjunction with professional photography. I tried it for one unit at first and was so blown away with the uptick that I did all of them. Now I'm focused on outdoor spaces and experiences. No more units, just better units. No additional management overhead, just more revenue from the existing management. No more hassles with STR permits, etc just optimizing what I already have. As of yet, I'm not seeing an end to the potential of this strategy. I'm sure someday I will. Then when I buy another property I'll go all in right from the beginning, confident that all the upfront improvement cost will produce a return. I think you just graduated from a host to a developer. You are developing property to increase your return.

[@genetoliver1458]

Excellent presentation, Rob. Thank you for the transparecy, and valid next steps,

[@andyx0487]

It is interesting. I read some articles showing that in the 1980s when interest rates peaked last, real estate investors found the best ROI by building extensions to their homes to add more rooms or guest houses. This is instead of buying new places in high interest rate environments. If contractor prices continue to get more reasonable then this might be reflecting in what you are preaching here as well.

[@frankrobinson6615]

Absolutely right Rob. I came to same conclusion ... I enclosed a porch and converted to bedroom to drive a 30% increase to the bottom line. Worked so well that my next project is an attic conversion at same property.

[@lieaorganasolo]

Same. I have a rental where I already converted the basement into a 1br while still able to rent the second floor as a 3/2. Now I'm looking at this back yard that I PAY ppl to just cut the yard. and I'm like why don't I add a carriage house unit there and rent the top unit as well as the garage spaces. It would be cheaper doing this than buying a new property.

[@theevagoetzeshow]

Attic conversion! Great idea!

[@monikadoyle-realtor9559]

Check rules…my husband is an appraiser in Virginia and ceiling must be a certain height to be considered square footage. He recently appraised an 800sqft house and well over half couldn’t be counted in the square footage!!! This rule went into effect a few years ago in our state. So check your rules before converting so you don’t loose out on that square footage when you go to refinance or sell!

[@imeldainterino7747]

My client in real estate lost her 4th bedroom upstairs, even with a bathroom and 2 closets. Why? It didn't have central heat n air and she just had window unit. Thank Lord! She was still able to sell it even for less profit.

[@marthabraswell2869]

I pulled my money out of the stock market to get into real estate and starting to wonder if I made the right decision. My investment made 20% last year and I didn’t have to lift a finger. This real estate stuff is a lot of hard work!

[@LongBeeyatchGTR]

I've been a professional RE for 15 years and I wish I stayed in the stock market. The juice isn't worth the squeeze.

[@frankfitz3421]

35k ? To furnish,.. what a joke

[@EricHempler]

My takeaway was early in the video...focus on improving the property or properties you have until they're where you want them before buying more real estate. Each property should have some type of improvement plan, which is really an ongoing process, because trend change. I think that makes sense. Focus on the improvements until you're ready to expand.

[@dymoultrie1401]

Unless of course, 2019-2021 happens again, then build your portfolio just like Rob did.

[@tcfoxdude]

Rob has never talked about the inevitable STR killer and that is community pushback. Every city that is plagued by STRs (Coachella valley is the best example) ultimately chooses to ban or limit STRs. The fact is local communities get fed up with homes operating as motels in residential areas. Once locals start pressuring govts to enforce zoning laws, this will truly be the end of STRs. No one wants to live next to an STR.

[@s.flanders]

Hasn’t he said he prefers mid-term rentals? Are those as vulnerable to that kind of pushback?

[@tcfoxdude]

⁠@@s.flandersStrs are typically 28 days or less (target are vacationers). Mid terms have a different target, typically professionals like traveling nurses (this is very niche group of renters). Rob only mentions pivoting to mid term due to economic slowdown. But the biggest looming threat is community pushback and I’m surprised he had never mentioned it. In the CA desert area of Palm Springs where I live, the resentment is so high nearby cities have voted to ban them in large margins. Neighborhoods have also put rental caps on contracts per year. There also enforcement officers with 24 hour hotlines for noise and parties. 3 strikes and ur license is suspended. All the neighbors know exactly which homes are STRs and they do get banned after violating 3 noise complaints.

[@tutnetam]

What a BS! Lol your math is just a joke lol for the hot hub add extra COST, ELECTRICITY, CHEMICALS, CLEANING, MAINTENANCE, BROKEN PARTS ETC ETC! JOKE!

[@tygoulding2547]

Is that really going to cancel out all the bookings you’d get with a hot tub rather than not. Hands down a place with a hot tub will get booked way more in my area than one without.

[@letsseewhatsnext1370]

WOW!!! The real Rob is back. Where have you been buddy. Finally some real content.

[@sbdreaming623]

no more content about how great airbnb is. airbnb jocks done!!!

[@JoshGeorgeReel]

Hope he stays

[@michaell6576]

Your cash on cash comparison (adding amenity vs adding door) is interesting but you’re not considering the long term appreciation of adding another door. Adding an amenity may have a superior ROI in the short term, but adding another door will allow more portfolio appreciation in the long term. This math might be worth considering.

[@jantravelman]

At 40 doors its probably not really an issue. At some point limiting your downside becomes more important. You can always put another loan on the same properties if you really want to leverage more. The extra income will help you qualify for it.

[@katekanibaloyi]

If you’re doing that math, you need to factor in the time value of money too. How much is a five year $100k appreciation worth month on month in today’s money vs the additional monthly revenue you generate and reinvest by optimising your existing portfolio?

[@bwking174]

That is a good point, but adding amenities can also increase your property's value, therefore increasing, or forcing appreciation further.

[@JABINVA]

Totally agree, the hot tub as an example, you might get the return he mentioned but you also have to maintain and eventually replace the hot tub. I also agree with what Rob is saying. I would think a lot would depend on if you are trying to get more money now or looking for long term wealth building.

[@fortunivet]

I have 6 doors. Each of my houses has 3 doors. 😂

[@Pennychaser1]

Bought 2 houses during lockdown. Not buying anymore for a llloooonnng time. Crypto is where it's at. RE investing is mostly dead for 10 yrs

[@Thenumberone341]

We all know that real estate is an amazing way to create wealth, but we all need to also understand that there is no quick way to become millionaires. Everyone is looking for that easy and quick way. It is very disappointing and sad to see how people want to "SELL their own strategy" for THOUSANDS of dollars, honestly that is not right. So many people in despair falls for this MASTER CLASSES......It is just SAD :(. I love videos like this, you are sharing something that is working for you, and may help other people. My husband and I, for example, have been adding a few amenities to our portfolio for a few months now and it has helped us to increase revenue :)

[@joeshmoe7899]

"Everybody has a plan, until they get punched in the face." -Mike Tyson

[@meliwells]

One of my favorite videos from you Rob! I would love to see more videos from you analyzing what you're doing at each of your properties and why you decide which option for each property. Seeing the direct reflection in the numbers is very enlightening and reassuring.

[@slin4013]

Rob- you videos are starting to contradict each other. Do you actually know what you are doing bro 😅?! I get we all pivot but man how are we suppose to take advice from you when one of your video says exactly opposite .

[@Robuilt]

Hmm explain what videos you think contradict and maybe I can clarify. I’d argue this video is perfectly consistent with my recent ideologies and real estate philosophies. On top of that, my viewpoints have changed drastically with the market we’re currently in. Why wouldn’t you want me to adapt my philosophies based on what’s going on in 2024?

[@Mav0585]

Do you mean his bigger pocket interviews?

[@aaronoetting9129]

He doesn't. Has admited in his videos all his money comes from classes and youtube ads not real estate

[@theedge5193]

I’ve followed this guy for about 2 years and I can see the evolution he’s gone through and I am at this point going to unsubscribe. I find no more value in these videos. The boom is over and he’s peaked in what he can “teach”. Thank you for all the info and entertainment, good luck Rob. PS, my catchy phrase for you was “con Abazolo no estás solo”. If you’re Mexican you would know the significance of that. Thanks

[@edwintabora5084]

Rob what a great video. I’ve often thought the same thing. why do the amount of doors matter and not what those doors produce? One of my “doors” produces 895 mth and 1 produces 9500 mth.? Should those 2 doors be worth the same? I think some of these comments are coming from folks that don’t have a lot of experience operating real estate. It’s a different market from two years ago and just going out to accumulate doors without actually making sure those doors make money is a pretty good strategy to going broke. I think what most people that have actually been buying properties for enough years to watch the values go up, the rents increase and the debt of those properties go down will tell you that you don’t need a lot of “doors” to live a pretty successful life. Not to mention managing (or managing the staff that manages) 40 doors is a lot easier than 300 doors. Good video and I needed it. I think if more people just took a step back instead of automatically fighting it just be the first to put a negative comment on the board and really took this video to heart they would realize how beneficial it could be. The only thing I would ask is if your not buying properties every year and cost seg them how are you getting enough depreciation to offset your taxes.

[@sbdreaming623]

ok watched the video. this must be a humbling time to all the jocks

[@rubengonzalez-qk6bx]

Buena idea Rob y información. Es lo yo estoy asiendo con mis casas. Saludo a tus padres. Cuídate…

[@JohnCash001]

"40 doors" I am not impressed by for my lifestyle because you most likely have a lot of debt, and headaches with renters. I like my lifestyle better where I have a stock portfolio, have capital appreciation, collect my dividends and call it a day. Can travel without worry and have a simplified life with zero debt. This is not financial advice.. you need to seek out professional assistance.. I'm just amazed how the majority of people try to get wealthy through property ownership, and how many people flex owning property.. No thanks, don't want to deal with rent moratoriums, or squatters either! Don't want to deal with property taxes or insurance issues.

[@Realtyguy]

Totally agree. We add game rooms and hot tubs to our units in Colorado. They outperform our competition. I’ve been trying to figure out what other types of amenities to add. Sauna, pickleball, mini golf?

[@ardianselimi1]

great video rob, i enjoy the funny editing style videos but please keep making more of these casual/direct uncut style like todays. keep it up love seeing you on BP too

[@adamramirez1]

your math for furnishing cost doesn't add up to your 2k sqft analogy - avg cost for furnishing on a 500k house would be 35k tho

[@JCizzleSoCal]

Pretty simple…he stopped buying more real estate because he already has 40 doors and doesn’t need more.

[@LumberjackLandlord]

Not to be harsh... but with your skill set. You should have stopped a long time ago elite operators win in ever market. Diversification of strategy, assets, areas and tenant pool. It's the same reason wall street elites always win. That's what I teach because that's what I do.

[@RockfordTraining]

I love disregarding the 20yr old insta door count. Str- new , trendy , needed in some costal/desirable places… but not everywhere in the middle of a suburban city with tons of parking and hotels ? I seen a lot of KZbin content talking about long term and cash flow doesn’t work. It works amazing where I live in Illinois 🤷‍♂️

[@devonloerop]

Yupppp 2024 is all about guest experience, amenities, being cost efficient to have extra margin to stay occupied while making those bands

[@zacharyfair6738]

Is he still part of bigger pockets?

[@bobsmith1841]

Some huge gaps here.. like mortgage payment back on the loan and taxes.. 😂

[@andrewp.ellison17]

Kia ora Rob, this video is awesome. I totally get what you’re saying and where you’re going with this model. I have 3 bed 1 bath house on a 45,000 square foot R20 zoned property in Hawaii that I’m in the process of subdividing and at the same time I’m adding a ADU to the front lot where the existing house is. I’m doing exactly what you’re describing. The equation is simple, I can owner build a 800 square foot ADU on my land for less than $200k or I can buy another investment property for about $400k, Hawaii prices, and get the same return. No Brainer. I would love to connect with you if at all possible my friend. Nga mihi, Andrew.

[@riverat7558]

1. Lever up when your young. 2. Survive the downturn. 3. Manage, manage manage, wait, wait, wait. 4. Enjoy the increased rents when the market finally turns. 10-15 years +-. 5. Now that 25 - 30 years have passed, enjoy your positive cash flow, and almost paid off properties. At this point you are 65 plus years old. Now all that matters is your P&L. You are done. Written by a 30 year real estate investor, now 66.5 years old.

[@roberthines4882]

HELLO!!!!!!!! WELCOME TO THE REAL RENTAL GAME!!!!!!!!! BY ADDING AN EXTRA BATHROOM AND BEDROOM TO A HOUSE I HAD FOR 10 YEARS PAYS OFF BIGGLY INSTANTLY!!!!!!!!! JESUS IS LORD!!!!!!!!!!!!!!!

[@SeascapeVacations]

Not afraid of competition or economic downturn. Its government legislation thats scary. Laws Change...

[@Hdianvciadpei]

My boy here finally realizing the trap of the "more" mindset. It's a trap, it never is enough, bro.

[@NicksFort]

good job on the one take, all the info was just as valuable as a cut up version. appreciate this!

[@mikeycharlesjr]

Come on Rob..... you can't just now be realizing this. Lol Unfortunately, the challenge is people still believe that talking about money is taboo.

[@npd253]

This is an old topic. Multiple guests in the original podcast talked about this concept. It's a misnomer though. Yes the more profitable per door is great but more doors also means more gross money. If I own 10000 doors i am making more money even if your 20 doors make more money per door. Money per door is important, if that number is negative yes your portfolio sucks. Door count though will explain your level of understanding of business systems. The systems to manage 10 doors and just 100 doors are wildly different. Again the same for 1000.

[@BiggCope]

Really good video, Rob. I’ve been thinking the same thing for the past several months. Wondering what I can do with what I have to increase revenue and occupancy. I still work my W-2 job which pays me really well, raising a family with two small children and still trying to keep up with everything else in life. To your point it’s always a time crunch because so much of my time is spent with work and raising my family to where all of the things you described to just acquire and then kick off a new property is a lot. I do think you’re in a different situation than the best majority of us though. With 40 short term rentals, you probably should pay more attention to your portfolio and optimize it. For those of us with five properties or less, Then I think we still want to scale just a bit more. Again, great video, and it really resonated with me. It is extremely hard to find the balance with running my short term rental business, staying successful in my career, being a husband & father, and staying on top of myfitness.

[@andrewfeazelle]

Shoot, a lot of high quality REITs have been on sale the last year due to commercial real estate pulling everything down collaterally. Why buy a real property when you can just buy a REIT in your online account or even a money market fund at this point.

[@zakuzeon7382]

The thing is, even under this argument, it makes more sense to optimize 100 properties, than it does to optimize 10. Or 1. Someone who stops at 10 to optimize those 10 will eventually realize considerably more profits in a shorter period of time than someone who stops to optimize their 1st property and doesn't doesn't move onto property 2 until one has been maximized. And someone who waits until they have 100 will far eclipse the person who stopped at 10 simply because they already have far more coming in from their 100 properties than the person with 10 does, so they can afford to optimize a property much faster. a $22k ping pong court isn't even a month's income, whereas it can take all the income someone with 10 properties gets that month and the person with 1 property may need to save for 3 - 6 months just to raise that $22k...

[@iowawizkid1]

I am here to relish in the fact that I am buying with Cash going forward and raking in the 9-16% ROI + tax incentives. Long term rentals and only 15 hours a year of my time per unit.

[@pwu8194]

No, I don't like rental properties. Too much work. I would rather just buy index fund and live my life. I may not make as much money, but at least I have all the time in the world. You only live once.

[@DaveContractor]

The trend for 2024 is customers wanting unique stays. Just having a "nice" abnb isn't cutting it anymore.

[@imeldainterino7747]

You're perfectly right amigo! Some of these Airbnb investors don't even know how to use creative finance like subto, lol! Anyone can acquire properties and pay someone else home with a mortgage interest rate of less than 3% 😂

[@housefanman]

Lol I think you are very confused about what you want to do! Didn't you just make a video to say how Cashflow is not that important? Your video “the four steps to getting filthy wealthy with real estate” would essentially argue that your time is best used acquiring properties to increase your wealth. Now you are saying don't bother increasing your wealth, to focus on your cash flow lol I am not saying one is right or one is wrong, all I'm saying is you need to evaluate what it is you actually want as an investor and make sure what you are doing aligns with those goals. Or if you're just talking for the sake of likes and a couple of dollars from KZbin revenues, well that's fine too I guess

[@DewTime]

Do murals or wallpaper add any value? I know they’re not anything major like a pool or a tree house but is it worth adding it?

[@Robuilt]

Yeah I think so!

[@sanjayaiyar4351]

Why is the concept of “return on investment” some sort of revelation? The only 3 factors that matter are: 1) PROFITABILITY PER DOLLAR INVESTED (what’s your return on investment, not a random cash flow number per door) 2) SCALE (do you really want to make $100k profit per year across 100 properties where 100 HVACs/water heaters/dishwashers/roofs/etc can break?) 3) DURABILITY OF PROFITS (is your property unique and attracts guests even when travel volumes drop?)

[@alexaclaire8728]

Did you increase the nightly rate when you add these amenities? Or was the profit increase just from more booking only?

[@RonaldWillis1]

This was a very interesting video. I especially liked the insight into AirBnB. Short term rental acquisition has always been a mystery to me because of ongoing transistion of the investment type as well as ability to exit the property. Your video was very helpful concerning the challenges you have faced in this space.

[@blessed7fold]

I completely agree with everything you said here. Maximizing your return is much harder in some ways then going out and buying another property. It requires ingenuity and analysis which not everybody can do or wants to do.

[@waynehartlerode8936]

I added frisbee golf course! Way cheaper than a pick ball court! My house sucks compared to others in the area but im 90 percent booked. Gotta get creative

[@stopper90004]

You'd make 120 to 180% roi a year just by buying Bitcoin and going on vacation. Do some homework on it.

[@angelmaldonado21]

That is super useful. There comes a time in every business where optimization of the business goes much further that expanding the business footprint.

[@Ghacman1]

What is the name of the photography company you use For your short term rentals. Thank you for your great info.

[@Robuilt]

Eric Barkhurtst! His Instagram is @barkhurststudios.

[@bryanfahey3144]

Curious what you think about buying condos with a lot of amenities like a condo hotel. Too high HOAs to be profitable?

[@Delusionalthomas86]

Everything is pushing me to build wasteland ranch I can feel it hopefully finding the land and property within the next couple years

[@1powerequalsgod]

I can say this not everyone can be a great landlord as a real estate investor. That’s the truth. My current landlord is rather smart and hard working. He will allow renters who can benefit him as far as much needed experience like being an electrician and information technology per se. This limits his need to hire people plus the tenants want to gain favorable terms for assisting the landlord by using there skills. He often hires part time workers who can get certain task done where he can focus on high priority projects like getting a unit prepared for move in.

[@fitpro25]

This is either click bait or the single dumbest advice anyone has ever given. Either way...pass on this creator.

[@MrHamlet]

I'm in the process of buying a property, but I've never ever cared about door count. What I care about leveraging existing assets and NOT overlevering them and building a house of cards. Love your podcast but always feels like the advice is overleveraging which can build a fragile system that if the economy drops, everything you have collapses. I'm building a stable portfolio that brings in stable funds, but won't collapse if we have another COVID event, or 2008 financial crisis. I like what you're saying in this episode. BTW another tactic I have is to take my cash/funds and put them into high yield dividend ETFs that provide enough monthly cash to help pay down my debts, or carry them if times get tough. I call it the circle of life, because it one area has an issue, I have a completely different area to back me up to keep my life going. :)

[@sbdreaming623]

crisis. if you were still making money you would still be happy. it's over bro

[@JoshGeorgeReel]

Literally all your ads are promoting how to buy real estate at 3% using seller financing lol. Honestly I’m moving on from you man

[@rfreeman5012]

Im done with strs, 1031ing to long term properties, its not worth it, not cashflowing even on the coast.

[@capedcrusaderforbuilders9671]

I want a tee shirt like yours. I come for the terrific info and insights but then get wowed with the merch. The Restoration Hardware airplane desk has been a fave of mine since it came out. But who is the player and where can I get the shirt. I play guitar ever single day.

[@netania123]

This is my favorite KZbin channel. Thanks for adding value every time, Rob!

[@waynehartlerode8936]

Nice to see an influencer say how hard something is for a change. Problem with the bubble we are currently in is the mondset that money is easy and investments should pay off fast.

[@whymindsetmatters]

Good thing there isn't a shortage of money at anytime or nobody would make money. There's an infinite amount of money in the world. Look to the appleseed and you'll finally begin to see

[@oceanangel4]

This is great advice for people who are already in the game, but what about those of us still looking to get in? Just wait?

[@shanegray1846]

everyone is complaining about tight cash flow. in this market you have to make it flow.

[@markstory8619]

Great Advice, Rob! It absolutely makes sense, squeeze the profit out of the assets that you already own.

[@airbnbabcs2050]

We're in a pickle like this too. We have a 2/2 cabin that we bought for 469k in Gatlinburg that does ~70k annually. We've kicked around buying another place, 1031ing this one into a 4 bedroom, or just adding 2 more bedrooms to this cabin. Looks like upgrading the cabin we have is probably the cheapest and easiest way forward.

[@monikadoyle-realtor9559]

Hey saw your comment…I grew up in Knoxville so ofcourse visited Gatlinburg a lot. I bet your rental does great there. My daughter and I visited the area around Christmas and it was crazy!!! I moved to Virginia and live in Virginia Beach and I would say here, Sandbridge and the Outer Banks are also great investments if/when you decide to pick up more!

[@mjrisinsd6836]

That’s the sound of a bubble bursting and the lemmings learning about profit and loss.

[@joelwillis2043]

But you didn't stop selling courses about buying real estate. Smart!

[@investlyh]

Ohh. I see, this is geared to the airbnb investors, I can see why you would stop buying.

[@DISYMATI]

Thanks for the info! Is it hard to find someone to maintain a hottub? I would think those could be a headache with all the issues???

[@MarvinStorr]

Adaptation is the key to survival. It's great that you recognize the need to pivot.

[@toloveandrestore2472]

I’ve been saving up for an airbnb and note the cities near me have banned it. I really had My heart set in one particular city 😢

[@odinphong9601]

I'm wondering if there is a tipping point in terms of doors, where itt makes more sense to improve what you have rather than buy another door. Does this strategy make sense when you have 1 door? How about 5? Its unlikly that I will double my revenue with an improvement to the one door I own. Its is likely that I will double it woth another door. So where is the point at which it makes sense to stop aquiring doors, and just improve what I already have?

[@rubayyatkhan]

Solid transparency! Do you buy all your properties in LLC using DSCR loans?

[@George87MG]

I hope you add an ADU to one of your properties so we can see what your ROI on that it.

[@tracy3066]

That’s where I think some serious ROI can come from. They don’t let us add ADUs where I’m at otherwise that would be something I’d be all over! I’d be ADUing like crazy 😆🤣

[@jasonjosephlee]

Have you considered buying multifamily property? People will always need a place to sleep.

[@Robuilt]

Yeah for sure! But it doesn't interest me as much as other types of commercial real estate. I'm more into unique developments and hotels these days.

[@Tassonebeats]

Your in the wrong market .. 100k for a house in europe

[@sbdreaming623]

lol choking up. i love the term " i retired my wife" wife needs job now

[@hillseason]

I've scaled down from 40 to 10 and have better revenue.

[@djamesofficial]

great point on squeezing out what you already have!

[@emilysnapp5637]

Rob, thanks for sharing your change in strategy. I'd love to hear more about your shift in feelings on arbitrage. I hope you'll do a video on this.

[@tracy3066]

I’d love a video on this too. I was totally against doing Arbitrage for the first 5 years I was buying properties. I decided to finally try it via mid-term rentals with nurses last year with 2 apartments in a 4-plex. Did ok for the first year and then travel nurses stopped coming. So unfortunately I gave my 30 day notice at the end of February and as soon as my nurse leaves the other unit in May unless something changes I will be giving notice on my other arbitrage unit. It sucks it didn’t work out but I don’t want to start losing money if they stay vacant. At least if I have a bad month with a property I own I’m still building equity in MY property. So no more arbitrage for me. I’ll stick to just buying. And even then I’m doing what Rob’s doing and concentrating on the properties we already have. Especially with the outrages prices and the high interest rates. The STR market and mid-term market have really changed over the past year.

[@auctionmusic]

my fav rock group in the 60s was The Doors

[@dallassegno]

Oh, you didn't stop because it was a dick move?

[@tfatutors]

REAL ESTATE IS HIGHLY BLOATED !! ARTIFICIALLY INFLATED

[@aboutmurals]

I’ve seen a big influx in AirBNBs buying our wallpaper murals lately. I even had one guy have us make 10 custom (Hollywood themed) wallpapers. I couldn’t figure out why this was happening all of a sudden. Now I get it. 😅

[@TheSavvyCouple]

Great video and spot on with what we have found in our business as well. Improve and do more of what’s already working before adding more.

[@ryanthrives5152]

Tell the crowd not to buy real estate to stomp out his competition he’s created

[@Robuilt]

It’s honestly so flattering you think I have that kind of pull lol.

[@nickgray]

Good points here and I appreciate the honest ❤

[@Daniel-xb4yb]

Hopefully you lose 300 dollars a door every month

[@MaryGeorge125]

Duuuuuuuude ! Stop calling it an Airbnb! 😅 😜🙏