Keep preaching the truth. Takes a long time before real estate investing frees you. I think 10 years for me
@rashidadan82746 ай бұрын
Basically, create a passive income, but DO NOT rely on what you made from that for your living. Continue making money for yourself outside of your passive income.
@canes44196 ай бұрын
I have 1 duplex, my wife and I have full time jobs and the property is profitable but we work our butts' off keeping guests happy. This isn't easy, especially in this market.
@chaoyishih83246 ай бұрын
you pretty much included all the reasons after 10 years of investing, my rental income is more than my w2 and i still cant quite 9-5 job, but also because i dont have short term rental, so i got times
@tadowdammit91536 ай бұрын
Once you reach earning 10k+ it's time to set up a S-corp and put yourself on payroll. Then you have the necessary W2 to go to the bank and apply for a loan. If you're married it helps if the spouse can work until you can get everything stable.
@CriChilds6 ай бұрын
couldn't agree more with you man. You hit it all spot on. I feel like a lot of folks who watch your channel may not have enjoyed or been as well paid at their jobs. That is probably one reason why many people are eager to leave work, but sometimes are short sighted about leaving work. I quit my job too early as well and I regretted leaving before I maxed out the 10 loan limit personally. This is really good advice.
@anthonybodota10116 ай бұрын
Jeez…you have no idea how much I needed this video. Thank you.
@MegaSuperEnrique6 ай бұрын
Great vid. I wish you (or anyone) would put out a vid stressing the necessity of buying the right rental. My first purchase sucked all my free time out of 10 years of my life, for no profit, but it taught me a LOT about tenants, property mgmnt companies, contractors, as well as how to actually identify and perform a lit of the repairs on my own. Since I got rid of that about 10 years ago, I have increased my net worth from $50k, to 1.5 mill and am a better landlord.
@Wallacemoneytradesandhacks6 ай бұрын
Truth spoken. I thought I could prove consistent income with my investing and trading, but the lenders still want W-2s. I'm now at a part time job to show stability along with my investment income and the lenders are much more open to it. Keep your job!
@77Tadams6 ай бұрын
Thank you! It’s a grind and it is hard in beginning. Good luck to those who have no clue. It’s hard to do for all your reasons but worth it in the end.
@Karif-dk9iv6 ай бұрын
Great vid! Thanks for being super transparent, this is something most “guru’s” on YT leave out.
@publicproclaimer97246 ай бұрын
What I’ve found in the overall current economic climate that 100k / year w2 really isn’t getting people very far anymore. Taxes, inflation, etc is crushing (by design) the middle class. I know people making 70-80k w2 / year which has to have second jobs just to make ends meat. It’s shameful that this is what this country has become.
@Huffmommy6 ай бұрын
I have two duplexes and I did all the work on all of my properties by myself and it’s still hard and takes planning to be profitable Definitely not something that happens overnight and in these markets. It’s a TON of work even once you have good tenants ( the hardest part) because you have to keep them happy. There’s nothing that’s truly passive Also it sounds like you make enough to get a better barber
@JRO31176 ай бұрын
Really diggin these uncut, real videos Rob
@seansurfn26 ай бұрын
been doing both myself and ya its taken me 3 years just to save up like 50lk... my 9-5 job barely pays bills.. flipping makes enough barely to save a bit and reinvest.
@myndfulness6 ай бұрын
Great video Rob! Thank you for the guidance 🎉
@SimoneSmith-l6y6 ай бұрын
Wow rob! This is great information, ill have to come back & rewatch
@mankind57095 ай бұрын
“ no rest for the wicked “ , successful owners of rental income properties never rest. you either do it full time or do not get involved. The headaches are immense , but so are the rewards.
@chocolaterocz16 ай бұрын
Appreciate the content, love listening to you on bigger pockets as well. I will say though that you’re severely underestimating how little I make at my job & how easily anyone could replace that income 😅
@ChaseBauer656 ай бұрын
As someone with 30+ doors and has been a real estate investor for 8 years. Rentals make over 250k a year, 3.5m portfolio. I still work a federal job 85k a year. It's EXTREMELY difficult to find deals. There pretty much arent any. I had to do live in flips, sweat equity, driving for deals, and get very lucky to be where I am at today. In todays market. It's impossible. Hoard cash until the market drops. I'm sitting on 500k in a red state, and everything is just too expensive.
@DestinationJapan956 ай бұрын
Now we all know you’re either a fraud or just incredibly ignorant. Almost impossible to find deals? There are millions of deals to be had monthly across the entire US wtf
@sarahfisher77176 ай бұрын
Rob love your channel. What are your top 5 strengths on strength finders? The world needs to know. I’m guessing futuristic as one of the top 3.
@tammyrussell-rice55086 ай бұрын
Excellent presentation, Rob. It should be mandatory viewing for anyone considering entering the fray of real estate investing.
@reneeking46396 ай бұрын
Love the 1-take, unedited video
@Khanh.Nguyen3696 ай бұрын
It’s the cool thing everyone wants to say. Instead of why not take the 9-5 income and roll that money into real estate? Or have the 9-5 W2 to help apply for loans.
@427spicey6 ай бұрын
Super sharp advice
@janscilipoti38236 ай бұрын
Yep. 50% of my annual net profit paved the driveway in one of my places. Unexpected, but had to happen.
@sergiovaldovinos84176 ай бұрын
I agree. I had similar experience
@AdrianRomeroJr6 ай бұрын
bunch of Gems in this 30 mins, totally Agree, also on track to replace my trucking carreer with real estate flips/investments
@ambana866 ай бұрын
What's more effective? Flipping or Real estate Investor?
@AdrianRomeroJr6 ай бұрын
@@ambana86 not sure haven’t done flipping, barely mid way through my first BRRRR in LA
@patrickidowu67006 ай бұрын
This is so good! Thank you!!
@BiggCope6 ай бұрын
What I want to know is how do I identify a property that’s going to generate revenue like your Scottsdale property 😄. I do well in my W2 and don’t need to create another job. I just need some big hitters in my portfolio. I’ve got the 💰, just need the opportunity.
@patrickforelli87966 ай бұрын
It’s about finding successful nearby Airbnb’s and mapping out what common characteristics they have and seeing if for sale properties have the framework to satisfy those conditions and take it a step further. It’s not rocket science just takes a lot of digging and attention to detail. Happy to chat if you want to discuss further.
@joelwillis20436 ай бұрын
Should I quit my 9-5 to sell courses to people on how to quit their 9-5 to become a real estate investor?
@huseyinkarakas3416 ай бұрын
I made 335k gross income with my short term rental portfolio in 2023 and my W2 job only makes me 28k a year (I'm a food delivery guy) and I still can't quit my job lol. Hit me up if you want to know why my life sucks but is on its way to not suck pretty soon
@yulivanessamanrique1136 ай бұрын
Thank you so much for this video! I really needed to heard this.
@D-D.ScottPM6 ай бұрын
Keep speaking the truth Rob. This was a great video to show beginners to expand but keep your nest egg/cash flow.
@Mi-dk7br5 ай бұрын
Thank you for giving us the realistic view
@stephanieperez93056 ай бұрын
I paid too much for a coaching program and they encouraged their students to be action takers and be able to quit their 9 to 5. Many quit to become mortgage agents, realtors, property managers. Now working 7 days a week instead of 5. I have a government job with a really good pension at the end and they still encouraged me to quit.
@bikenraider996 ай бұрын
One way to look at it is when you go 100% into REI; you ARE the business at that point
@mohamedbenabdallah56336 ай бұрын
What are the logistical concerns with midterm rentals? Taxes, renters insurance, etc?
@MattTheMortgageGuy6 ай бұрын
Great video and great advice!
@vrodbr6 ай бұрын
Did he just say Rona when he coughed.😂😂😂😂
@eliot52206 ай бұрын
Once you’ve reached your job income on side hustle you can just pay yourself as W2.
@PerfectPencil6 ай бұрын
There was a better time to make bank off air bnb. Now it is slowly becoming any other industry. The iron is no longer hot... but like every other industry, the playing field is becoming level and that's a good thing.
@ResaleRenegade6 ай бұрын
Rob, the issue is.... I've already quit my job...
@jbl63386 ай бұрын
Rob, great video. Let me ask you sth....what % of ppl who quit they job to become full time REIs acheive the success you have vs. the ones that are in a worse financial situation than where they were before? Is it 50-50?
@tterb7776 ай бұрын
After 15 years of buy and hold method and although it’s going better now, I don’t think I would ever understand what he’s talking about prior to getting into real estate but only today looking back do I realize how difficult it was for me. Having children and a family and risking health insurance. Real Estate is far far far from passive income. Even if you do syndication or have a staff member… Nothing is passive.
@MrHamlet6 ай бұрын
No way I'm quitting my $500k/year job. My real estate investments are just part of my retirement plan so I can snowbird, have something to do when I retire and still have some income which I can hand off to my kids.
@EdNeuhaus6 ай бұрын
100% True. Those months where you make $25k profit are great. But then the month that are negative $10k hurt a lot more if you don't have any other income.
@CheekoDaBoss6 ай бұрын
Rona!!! 😂😂😂 Great vid with real deal information 😎
@brunovicente24846 ай бұрын
Amazing video. Thank you so much
@kmarshie6 ай бұрын
Shout out to Zion Health Share. Saving a ton and already used the benefit
@jaygriffiths34362 ай бұрын
Seems like a risky time to buy anyway. Houses are overpriced based on economic data so if there's a recession and people travel/airbnb/ less, and all of a sudden you can't cover the mortgage and you're looking at selling for 80% of what you paid...
@mauromartinez30916 ай бұрын
How about Spending your '$$ Cash Flow to inprove your 'Properties...Paint/ Roofing/ interior....🇱🇷
@AnaLucia2626 ай бұрын
I'm just here for the gossip! 🍵🍵🍵
@joeys6753 ай бұрын
How do i get a consultation with him?
@jayc47156 ай бұрын
Because all real estate investors suggest using mortgages....and you'll need 2 years of W2 income to qualify for almost all mortgages
@ex01486 ай бұрын
If you are saving money, the banks make money at 10-1 rate and you take all the risk and they take none. If you borrow money? The banks take the risk and lose money because you are doing to them what they do to most people. And the explanation if FAR outside the scope of a simple comments section reply. But I'm right and this is why getting that loan is so difficult, and it's not why most people think.
@themultifamilywealthpodcast6 ай бұрын
Brilliant video! Having multiple income streams is crucial before transitioning to real estate investment. And for those keen on multifamily investing, our channel is a treasure trove of actionable advice and success stories.
@funfunfun36246 ай бұрын
Damn dude you sound like a real estate gangster
@DestinationJapan956 ай бұрын
He sounds like someone who doesn’t actually invest in real eatate
@Martin-yz4fp6 ай бұрын
Rob, all those things you said in the beginning is what you say all the time.
@ventureted6 ай бұрын
Question for Rob and the Rob community. Recently rented an AirBnb in Rio de Janeiro. Place had great ratings, fantastic location and all the amenities I wanted. Everything seemed great, until I got there. The pictures must have been at least 3 years old judging from the wear and tear. The hot water only occasionally got decently warm. Kitchen utensils with missing handles. Old stains on the bedding. And roaches. I saw at least 2 roaches per day. I would have put up with ALL of this (different country, lower standards, etcetera) until I washed the fitted sheet on the bed. The mattress was like something out of a nightmare. Literally looked like they found it on the side of the road. Like I literally saw another mattress on the side of the road that looked better. My question is should I leave a review that would likely destroy this persons business? Or give this person a private message saying how messed up this is and terrible of them as a host to do this to potential guests.
@seasidesc26846 ай бұрын
My suggestion would be a public review that is fair as to warn other guests but not business killing, and then lay it all out in the private message side to the host.
@ventureted6 ай бұрын
@@seasidesc2684 thank you!
@adamramirez16 ай бұрын
Need proof of Caleb
@janetvalencia5976 ай бұрын
Great debunking of the quit your job preaching all over the internet.
@Simonjose72584 ай бұрын
60% of Americans live on $55k/year or less.
@claub54386 ай бұрын
🙌👏👏
@silvias5506 ай бұрын
You are one of those that got paid by your employer while doing a sloppy job or nothing, while other people were doing your job...by the way you tell your resignation moment....sorry, Sir, I guess it's says a lot about your moral values. When you see a person doing a bad job at work, I realized that you cannot trust that person anywhere, I.e private business. Thanks for showing your true face
@mauromartinez30916 ай бұрын
Who want's to be 'Slum Lord and not use your $$$ Cash Flow to improve your Properties...💯💯💯💯💯💯💯💯💯💯💯
@sherlingol77326 ай бұрын
Interesting how the whole message of this podcast changed from just 2 years ago! It was all about financial freedom through real estate! Now, don’t quit your job. 180 degrees change! See what horrible rates can do!!!! Vote Trump ❤
@SigFigNewton6 ай бұрын
Why you shouldn’t stop contributing to society
@malex15266 ай бұрын
Your recent back peddling videos are so annoying. We have been watching you the past few years. You are doing a total 180 from everything you have been preaching for years! You are the scammer that you are now talking about....
@Robuilt6 ай бұрын
Ehh pretty consistent viewpoints overall. Completely unsure how this video would make me a scammer. But if that’s what you think, hit that unsubscribe button and I genuinely hope you find what you’re looking for elsewhere.
@adnanshamim49566 ай бұрын
There is nothing wrong with this content. He's trying to get your expectations in order and be smart about it.
@missmaryjanegreen6 ай бұрын
Lololol whatever dude. No one is making you watch this 😂