Quitting Our Jobs with One Income Property! (ft. Robuilt)
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- Опубліковано 15 жов 2024
- @Robuilt and I were able to "accidentally" quit our $120k+ careers and make $1,000,000+ from each of our properties. A lot of people's focus is geared towards rental and passive income, but the best way to generate true generational wealth is through active income like building equity and running a business - all from your property. This strategy is for people wanting to get into real estate and build a lifestyle based business.
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Lol what! Bro this is so good. I unsubbed just so I could smash that subscribe button all over again.
I love what you had to say about permitting. This is the big differentiator between a cash-flowing business and a business that builds equity. It's also something I've learned the hard way over the past year.
Moving forward, any project I ever take on will be FULL-ON permitted from head-to-toe. Here's why: You can't sell a non-permitted project. But the moment you get your beautiful permit and you establish a cash-flowing machine, then you can sell your business at a very favorable cap rate. The permits on my first project fell apart and retroactively permitting something is so, so much harder. Ultimately though, I'm glad to have learned things the hard way. We don't become experts from everything going right after all, right?
I'm currently working on permitting 4 glamping developments across the country. Some of them easy, some of them...not so much. It's hard work, but it'll be worth it in about a year's time. And it'll be REALLY worth it when I sell them in a couple of years.
Hey Rob, we're so happy to hear that you are planning to go through permitting on all of your future projects. Since this industry is so new, it's so easy to make mistakes and we're glad to hear that you are learning from yours. We really appreciate the vulnerability of this comment as that's probably not easy to do for someone who has gained recognition in this space. It was pretty hard for us to be blocked from commenting on your channel after raising concerns of your glamping development in Coconino County, which we all know is unpermitted. In fact, we have now been contacted by multiple individuals who have had financial losses in our area as a direct result of your videos stating how easy it is to run this way. We totally understand that mistakes happen and still think you have a wealth of knowledge to share with people and this may be a good discussion point for a future video, your viewers would probably appreciate the vulnerability too. We have successfully secured a permit in Coconino County and although it took time, the process was fairly straightforward and we're glad we went down that path. We would certainly be willing to help anyone work through the permitting process anywhere, but especially in this area, as we know it can be daunting. If one of your four glamping developments is in Coconino County and you have any questions at all, don't hesitate to reach out as we'd be more than happy to discuss. At the end of the day, permitting your business is not only beneficial to the guests, the community, the environment, but it is also better for your bottom line as a business.
@@TheAdVentureists Hey there! This was a nice thoughtful comment, so I figured we should unpack it a bit, (maybe even bury the hatchet???) as I think we're on the same team.
I really don't mind my mess-ups and mistakes. I truly believe they are necessary to become an expert in anything. I've done the glamping thing for a few years now and so I've truly been able to come full circle on what's right for me and my business. Ultimately, I work with a lot of investor money these days. So our goal is to always bulletproof the investment in every way possible. Plus, not only do we want a crazy return, but we always want a great exit strategy. So it really does behoove us to work through the entire process. Do I think every Joe and Joanne who wants to throw a tent in their backyard should go through a yearlong process of getting a CUP? Ehh, that's a complicated answer. Usually, if people are going to do that, I push them to find municipalities that don't really care one way or another. Otherwise, it becomes a much riskier investment.
Which brings me to your comment about people having financial losses from my videos. There has never been a moment in my life where I've ever recommended people start a glamp site in Coconino County lol. Ever. On my channel, the words "Grand Canyon" have never left my mouth. Nor have I ever said, "You should invest in a glamp site in Arizona." In personal consults, I've always told people that the Grand Canyon is a terrible place to start a legitimate glamping business because the permitting is a bear. This is coming from me: Someone with extensive knowledge of the red tape. I'm incredibly careful about my wording every time I make a video. Sometimes, a single sentence can be 30 takes if I don't feel like I'm communicating my point clearly. When I speak of permitting and general glamping, you've got to consider that I'm speaking in generalities, as I have projects going on across the entire country. So ultimately, if someone extrapolated my information incorrectly and made a bad business decision, that's not my fault. I do feel for them though, but ultimately due diligence is needed 100% of the time you enter a project. If a financial youtuber shills Shib Coin and I buy it thinking I'm going to get rich, but then it crashes...that's my fault-not the UA-camr's. Which brings me to why you were blocked from commenting in the first place. I really don't mind you speaking your peace, as I genuinely think you offer great input. But the way you word things on my channel (and other people's channels) is misinformation when you say I've "advised people" or "given advice to people" to start a glamp site in the Grand Canyon. It's just not true lol. I genuinely try to keep people out of that area. In fact, I have so much content that details my permitting journey in Gatlinburg, TN. I don't want this to come off as defensive, but I'm sharing with you the judgement call I had to make in regards to the narrative you've put out there. Which if I'm being fair, I kind of understand, because you don't necessarily have all the context of my story. So with that, consider yourself unblocked lol. FOR NOW. Kidding, kidding.
Anyway, I do agree with most of what you say on the conceptual level. Which is why I say we're on the same team. We're all just trying to make our side hustle dreams come to life through glamping. One of my four projects is in Coconino County! We have 32 acres that we're working through the permitting on. Our big roadblock right now is that they are forcing us to install a $250k-$350k right turn lane on the highway to help mitigate the traffic coming to our site. I've also got a project in Gatlinburg, Wisconsin and Virgina. All of them easier than my AZ project (for the most part). This is a little longer than I intended, but I wanted to squash the proverbial beef. Shoot me an email if you ever want to chat further.
@@Robuilt Hey Rob, thanks for the dialogue, I wish we could have had this conversation seven months ago as we probably could have saved you some headache on your permitting path! ADOT coordination is certainly one item we had to work through and would have brought to your attention but there are a few other potential road blocks including fire and emergency response service that you'll run into if you haven't already. We never meant ill-intent but we saw an issue that we were working through and wanted to share with your community in case it was helpful.
We understand where you are coming from when trying to speak in generalities with your advice but I hope you can see where we are coming from. In our comments, we are not speaking in generalities, we are speaking very specifically about your unpermitted glamping business in the exact same municipality as ours. When you are showing videos of your specific properties, providing your exact airbnb listings for reference and then referring to yourself as an expert and selling a course on the subject, people will infer that your business is legitimate and that you've gone through proper permitting and assume that they can do the same. We agree that people need to do their own due diligence and we certainly advise the same. We've also never said that you are 100% responsible for this issue but it is clear looking at the other listings in the area and the aesthetic being used that people are replicating what you've done.
We want to be very clear that our issue is not with someone throwing one tent in their backyard but we all know that that is not what you've been doing. People are running sizeable operations, making significant profits and taking advantage of a lower income community in the process and that is what we are not okay with and why it has been so important for us to speak out.
At the end of the day, these unpermitted campgrounds are really giving a black eye to the industry in this area and since your new project that you're getting permitted and ours will require CUP reapproval every 5 years, it is in our best interest, yours, and your investors that we do everything we can to prevent the county and community from having any negative connotations with our industry. As you said, we are absolutely on the same team on this issue and for the sake of your investors, I don't think you have much of a choice but to agree with what we've been saying all along in this area. I'll shoot you an email so we can try and guide you through any additional hurdles that may be coming your way and to hopefully game plan how this industry will continue to thrive in this county. Also, thanks Kai for not censoring this as these conversations are certainly important for the future of this industry!
Both of you have inspired me to start my own glamping business. I m currently looking for land in my area. I already own one home I Airbnb and I’m putting an a-frame in the backyard this coming year. Can’t wait for both your courses on glamping to open!
Love the last advice - you learn by doing your first deal.
This is a great point to get people thinking about, especially with unique structures and glamping. Skipping permitting is the equivalent of tripping over dollars (Equity) to pick up pennies (Cash Flow) and it's almost the center of what we've been trying to educate folks about on our channel! You will be thanking yourself down the road for doing it right from the beginning and thinking long term.
That's right! Love it. :)
One of your best videos, Kai! Great quality info and production!
Thanks, Jereme! :)
I’ve been watching Rob for a few months and your channel as of recently. Was happy to see a video with both of you together. You guys have great tips and have given me great insight as to how i’ll approach my first deal. I’ve already committed mentally, and want to say thanks to both of you. Love the video and content
That’s awesome. Welcome to the party. :)
Loved this video guys. In 3 weeks I’m going to start my first Airbnb
You can do it!
Idk why, but I found Robuilt's channel first about a year ago. Now, no disrespect to him, but your content was way more evolved and you've had your head in this game for way longer. I think youtube Gods are just with him. But anytime anyone mentions Robuilt in social media. I do always remind them about The Andrew Kai! Keep at it!
Thanks for all the amazing info you've provided!
LOVED this! I've been watching you guys for months and just bought my first (of many more to come 💯🤜🤛) tiny home last month! Thank you both so much! And let's get this money (and freedom) shall we 😁😉😎
Subscribe and your next project will have my blessings. Go watch this video next if you want to learn about LLCs and real estate: ua-cam.com/video/GyMxb8Tkuyw/v-deo.html
Quit my 9-5 two months ago! Cash flow is king baby! That’s just for me right now while I’m supporting myself from the income! Down the line that will flip for sure!
Just found your channel. I am SO grateful for
Your content. Thank you!! Please do more 🙏🤩🥳 love your humor too. Thank you for reaching us nubes
For whatever reason, the UA-cam algo stopped showing me your content despite the fact I was subscribed. What the hell! Great video, Kai.
Aw, that's a bummer to hear! Well, I'm glad you found your way back to the channel :)
I hear you Kai. Thank you once again for excellent content and knowledge sharing. It really does seem to come down to ACTION. My wife and I say "We're doin' it!" all the time to remind ourselves that action is the key. Plan all the way to the end and then DO IT. Love your land hacking strategy as well. Definitely using that on my parents 100 acre farm in VT.
Great video! Love both of you guys. Keep making great content. :)
Thanks, Daniel :)
Great content!
Great info
im glad yall want to talk about each other but im trying to learn something here
So are you converting your residential "home" into a commercial zoned building with these permits you speak of? Because if not.. how is an appraiser magically valuing a residential property on NOI and not comps?
Great video
but how do they build a house? do they use a construction loan or what?
Great vid. So do you just pull the equity and reinvest?
Hey Jasmin! Yes, that's correct. Either through HELOC or cash out refi.
Very inspirational upload my friend.
Glad you enjoyed it!
Can you please share the name of your cpa? I’m in the same business as you and I find lots of cpa don’t know how to get the most benefit out of the taxes for us! Thanks!
Yup! ksmoot@accountability-inc.com. Tell him I sent ya and he’ll take care of you! :)
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Awesome Content! 🎉
This land hacker construct that you speak of… I’m a land owner. Could you pair me with someone that does this… Jedi mind-trick thing?
Thank you so much for sharing! ❤
I just realized how huge your hands are? My goodness. Anyways, great video!
Bruv 😲 you should have way more subscribers. Your content is 🔥🥵😎
Awesome man!
Curious... what does someone have to pay you directly to get set up with a property/business that will cash flow 15k per month to replace the current 9 to 5 job? Or what does it take for you to partner with a follower of yours to accomplish that same financial goal?
Hi Kai, Im looking got buy vacant land in the next 6 months. How do i make it profitable quickly? Do i register a business then buy the land to save on taxes and build equity?
that thumbnail is LEGEND! haha
Lol. Glad you like it!
Okay, watched a ton of this guy's videos and now I'm jumping into my first SFH property near joshua tree because of it...#influenced
Good luck! Be sure to watch out for those STR regulations in JT.
@@KaiAndrew it's actually 29 Palms by the other entrance...2 of the 3 trifecta. Hopefully it plays out well. Appreciate your videos
Who does your editing ?
I Love You Kai!
How young is he!!???
21...jk. I think Robert just turned 31.
Do you have any experience with options trading? Poor pleb here asking, trying to get out of this rat race. Thanks in advance.
Very minimal options experience. Sorry. More of a real estate guy :)
@@KaiAndrew no worries, been looking into real estate recently too, nice channel and videos👍
Respect 👍
I love you
Not as much as I love you.
Bro hit me up & and let's do business market here in New Zealand is skyrocketing