We’ve heard the stories of how these guys got started but the reality is that starting now is entirely different, not harder or easier, but different. I’d love for the guys to explain how they would get started today under the same financial circumstances they were in 10+ years ago. Incomes have hardly changed in 10 years but the housing market is double or triple what it was back then in many markets. Where I’m at in AZ my parents could buy a 3/2 for $200k in 2010, but that same house is $550k now.
Thanks for the feedback. you're right, neither of us started in the last couple of years. But I've made a lot of content addressing this exact question because it's a good one. Here are some videos you might find helpful: - 10-Year Financial Freedom Plan with Rentals in High Price Markets - ua-cam.com/video/qij1h5dMMFY/v-deo.html - Story of an 8-unit STR building my partner bought w/ $0 out of pocket in 2023 - ua-cam.com/video/4wHuZaRi1J0/v-deo.html - How to Structure a Win-Win Partnership for Rental Properties - ua-cam.com/video/D1QMVz2EQ9E/v-deo.html - How I'd Buy My Next Rental if I Only Had $50,000 - ua-cam.com/video/6_0quxsP7Ms/v-deo.html - Rental Property Analysis 2.0 (w/ higher prices & interest rates) - ua-cam.com/video/jnX38tWxftw/v-deo.html
I’m considering whether to retain $3 million in single-family rentals, we have $900,000 left on mortgages. What is the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds?
Real estate, while a solid investment, demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.
I’d recommend considering a managed portfolio, though even those have their challenges. The best approach is to consult a trusted fiduciary for guidance-that’s what has worked for my spouse and me. We've achieved over 80% capital growth, excluding dividends.
My CFA Carol Vivian Constable a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Being around the block, specialty Airbnb is a personality unique scenario. IE hard to replicate. Owning starter home 3/2 rentals is much easier. AND more doors is more appreciation. Good for this guy though.
I'm really trying to boost that active income portion. Real estate has been so dang good to me and will remain my bread and butter, but some of those businesses or income stocks are really starting to jump out to me between now and refinance season.
I have this dying question for the Airbnb gurus... please answer 🙏 😭 I currently have three doors in Airbnb and my fear is one day getting shut down by the platform and there goes all my investments! So I'm considering long term because of that reason. How can anyone feel confident growing in that space when you're leaving all the risk in someone's else hands?
Prolly depends on your risk tolerance. The fact that you are asking this question means you’d prolly benefit with a plan to convert your air bnb eventually into buying long term set it and forget it rentals. That’s what I’d do.
I understand - since we see NYC and other places shut down AirBnBs. We have 3 ourselves in FL and are not worried about getting shut down. I would just stick with them since the guests are way better clients than our old renters ever were. If you could clean them yourself and keep that fee you would make even more. I would dread ever going back to being a landlord.
It's a good question. The approach I like includes: 1. Paying close attention to zoning rules. Many cities allow it in some zoning and don't in others. Buy where it's lower risk. 2. Buy with plan A, B, C. I'm not a fan of doing a deal if the only way it works is STR. I want back up plans of MTR, LTR, or flipping if necessary. STR may be the best deal but it should work with others. 3. Mix ownership with master leases. The more risky locations/properties, control the property with a master lease that gives you right to sublease. Then if the market falls apart you are less stuck.
Im actually Dave Ramsey's number 1 student of all time, and my wife and I paid off all 6 of our houses and I haven't been happier since !!!! LOL !!!!! Most investors either hate on Dave or they don't get Dave but once you get Dave its an amazing place !!!!!
Love your content but can't stand the sound effects. I will nt watch anymore videos with mouse clicks, bells or keyboard clicking sound effects. Grossly over edited.
Agree. If you hate the sound effects on this episode, then you would surely despise Robuilts channel. His edits and sounds effects are horrible! It's unwatchable.
@@CraigKammanMN I’m so locked in on listening to the content that I don’t even hear any of it tbh. I do renovations around my properties while listening. It’s nice
Please stop fanning the flames of "Get Rich with Real Estate" -- investors are the cause of our housing problem -- it isn't a supply issue, its' bidding war issue. Tell people to work and get a job, stop trying to get rich off the brow of others and earn a living for yourself and your family -- we'd all be better off without assholes like who guys.
Housing affordability is a big complex problem, but it IS mainly a supply issue. If local and national laws made it easier, the market (aka investors) would provide the supply with new construction to meet the demand. And small mom and pop investors like those who watch this channel have been around as long as housing has been around. This isn't new. Our customers - our tenants - want to live somewhere nice, too. Not everyone wants or needs to own a home. And we provide a very important service - nice, affordable housing - to those people. By the way, most of these small investors also have a job (or 2 jobs) and do this investing on the side to improve the lives of their tenants and of their own family. Are those the @$%holes?
Sorry, I'm an investor, but I also work as a nurse. I've been outbidded multiple times. Most of the real estate investors I know work regular jobs, and we know there will always be people who need/want to rent.
Thanks for having me on your channel, Coach Carson! Always a pleasure sharing the mic with you, Amigo!
The pleasure was mine! Really enjoyed our chat.
We’ve heard the stories of how these guys got started but the reality is that starting now is entirely different, not harder or easier, but different. I’d love for the guys to explain how they would get started today under the same financial circumstances they were in 10+ years ago.
Incomes have hardly changed in 10 years but the housing market is double or triple what it was back then in many markets. Where I’m at in AZ my parents could buy a 3/2 for $200k in 2010, but that same house is $550k now.
Thanks for the feedback. you're right, neither of us started in the last couple of years. But I've made a lot of content addressing this exact question because it's a good one. Here are some videos you might find helpful:
- 10-Year Financial Freedom Plan with Rentals in High Price Markets - ua-cam.com/video/qij1h5dMMFY/v-deo.html
- Story of an 8-unit STR building my partner bought w/ $0 out of pocket in 2023 - ua-cam.com/video/4wHuZaRi1J0/v-deo.html
- How to Structure a Win-Win Partnership for Rental Properties - ua-cam.com/video/D1QMVz2EQ9E/v-deo.html
- How I'd Buy My Next Rental if I Only Had $50,000 - ua-cam.com/video/6_0quxsP7Ms/v-deo.html
- Rental Property Analysis 2.0 (w/ higher prices & interest rates) - ua-cam.com/video/jnX38tWxftw/v-deo.html
I’m considering whether to retain $3 million in single-family rentals, we have $900,000 left on mortgages. What is the possibility of maintaining $70,000 annual income by selling and investing in stocks and bonds?
Real estate, while a solid investment, demands effort and lacks liquidity compared to stocks and bonds. Long-term market trends should guide decisions.
I’d recommend considering a managed portfolio, though even those have their challenges. The best approach is to consult a trusted fiduciary for guidance-that’s what has worked for my spouse and me. We've achieved over 80% capital growth, excluding dividends.
Could you please provide more details about the advsor's background and qualifications?
My CFA Carol Vivian Constable a renowned figure in her line of work. I recommend researching her credentials further... She has many years of experience and is a valuable resource for anyone looking to navigate the financial market..
Thanks for sharing, I just looked her up on the web and I would say she really has an impressive background in investing. I will write her an e-mail shortly.
Great discussion guys. Enjoyed the deeper dive.
Very helpful Thank you for sharing this
I love the principle that Rob is communicating! This works with LTRs also but on a smaller scale since your geeting paid monthly instead of dailey.
good point. same principle in LTR but the cash flow increase won't be quite as significant.
Being around the block, specialty Airbnb is a personality unique scenario. IE hard to replicate. Owning starter home 3/2 rentals is much easier. AND more doors is more appreciation. Good for this guy though.
Thank you so much!
CCC - Coach Crispy Carson
Sounds like a rebrand is needed 💪🏼
Sounds like we could make a fried chicken brand to go with the real estate 😀
I'm really trying to boost that active income portion. Real estate has been so dang good to me and will remain my bread and butter, but some of those businesses or income stocks are really starting to jump out to me between now and refinance season.
Building that STR or business cash flow while building wealth with rentals is huge. They balance each other out and make it easier to stay the course.
I have this dying question for the Airbnb gurus... please answer 🙏 😭
I currently have three doors in Airbnb and my fear is one day getting shut down by the platform and there goes all my investments! So I'm considering long term because of that reason. How can anyone feel confident growing in that space when you're leaving all the risk in someone's else hands?
Prolly depends on your risk tolerance. The fact that you are asking this question means you’d prolly benefit with a plan to convert your air bnb eventually into buying long term set it and forget it rentals. That’s what I’d do.
I understand - since we see NYC and other places shut down AirBnBs. We have 3 ourselves in FL and are not worried about getting shut down. I would just stick with them since the guests are way better clients than our old renters ever were. If you could clean them yourself and keep that fee you would make even more. I would dread ever going back to being a landlord.
It's a good question. The approach I like includes:
1. Paying close attention to zoning rules. Many cities allow it in some zoning and don't in others. Buy where it's lower risk.
2. Buy with plan A, B, C. I'm not a fan of doing a deal if the only way it works is STR. I want back up plans of MTR, LTR, or flipping if necessary. STR may be the best deal but it should work with others.
3. Mix ownership with master leases. The more risky locations/properties, control the property with a master lease that gives you right to sublease. Then if the market falls apart you are less stuck.
Im actually Dave Ramsey's number 1 student of all time, and my wife and I paid off all 6 of our houses and I haven't been happier since !!!! LOL !!!!! Most investors either hate on Dave or they don't get Dave but once you get Dave its an amazing place !!!!!
Coach Carson looks younger than Rob
I let Rob know😄
SOUNDS LIKE DAVE RAMSEY WINS AGAIN !!!! LOL !!!!!
Love your content but can't stand the sound effects. I will nt watch anymore videos with mouse clicks, bells or keyboard clicking sound effects. Grossly over edited.
Yikes Craig
@richie1317 bet you can't watch a video with sound effects the same way again. It becomes like fingernails on a chalkboard. Lol
Agree. If you hate the sound effects on this episode, then you would surely despise Robuilts channel. His edits and sounds effects are horrible! It's unwatchable.
@@JC-qu7iw haven't seen those. Robert kiyosaki sound effects start to drown out his content too, unfortunate.
@@CraigKammanMN I’m so locked in on listening to the content that I don’t even hear any of it tbh. I do renovations around my properties while listening. It’s nice
Loved hearing you talk about this at BPCON too, @robuilt!
Please stop fanning the flames of "Get Rich with Real Estate" -- investors are the cause of our housing problem -- it isn't a supply issue, its' bidding war issue. Tell people to work and get a job, stop trying to get rich off the brow of others and earn a living for yourself and your family -- we'd all be better off without assholes like who guys.
Housing affordability is a big complex problem, but it IS mainly a supply issue. If local and national laws made it easier, the market (aka investors) would provide the supply with new construction to meet the demand.
And small mom and pop investors like those who watch this channel have been around as long as housing has been around. This isn't new.
Our customers - our tenants - want to live somewhere nice, too. Not everyone wants or needs to own a home. And we provide a very important service - nice, affordable housing - to those people.
By the way, most of these small investors also have a job (or 2 jobs) and do this investing on the side to improve the lives of their tenants and of their own family. Are those the @$%holes?
Sorry, I'm an investor, but I also work as a nurse. I've been outbidded multiple times. Most of the real estate investors I know work regular jobs, and we know there will always be people who need/want to rent.