Thank you for being authentic and not pretending to be a flawless investor. I understand that there is no one-size-fits-all solution, but I strongly believe that the lessons we learn help us grow as strategic investors. Please continue creating genuine and informative videos.
Thanks for the motivation to keep pushing forward! We are almost a year in to owning our first property in the smokies and cant wait to see where this adventure takes us!
Hey Rob! Great video! I loved listening to you on BiggerPockets. Can you share what you know about cowboy pools? How have they helped with your listings and how much do they cost to install? You should do a whole video on cowboy pools
I'm just 8 min in but what he is sharing about increasing ROI also applies to LTR. I don't own any STR but have been focusing on increase ROI on my existing LTR rather than buying additional properties in this market.
@Robuilt I had 4 turnovers from long-term tenants this summer and did value add work during the make ready work, such as refinishing the kit cab with new hardware and granite countertops where applicable, new flooring, new bath vanity and things like that. Anyway, the additional spend fetched a great return. I've spent that last few years adding 2 or 3 properties a year until 2023, and afterwards, decided to focus on value add work and rent increases as they become available. It was kind of stressful getting 4 unexpected vacancies over the summer, but put my plan in to action and now going into fall with additional cash flow that's the equivalent of adding 3 or 4 additional properies to my portfolio. Thanks for asking, and I appreciate your content!
I hate misleading claims. You won't "pocket" 1 mil. It will cost at least 350k to sell it, what you spent on it isn't gain, and you probably have to recapture a lot of depreciation you wrote off, then you have capital gains. So maybe you pocket 400k. Which is good but a huge 3.2,+ mil risk. You should be honest and stop misleading unassuming fools into jumping into these high risk scenarios only to lose their ass.
There is certainly a possibility he does "pocket" 1 mil on this property. 1. His mortgage is not 3.3... it was probably 80% of that. 2. His renters are paying the mortgage so even his mortgage "cost" is profit in the equity 3. The monthly net has certainly paid back their initial investment plus some over the last 3 years 4. rolling this into another property using a 1031 would avoid the other "costs" you've listed. It's not misleading to say he would pocket 1 mil because he could. Are there caveots to that statement sure! But it's do different than if you during a casual conversation tell me that you just sold your car and pocketed 20k... no you didn't... but we both know what you mean.
@@Detritus0311 @Detritus0311 1. pocket refers to profit, 2. mortgage is front loaded so renters are mostly paying interest the first 5 yrs - not principal, 3. Absolutely the net is part of the gain, 4. 1031 isn't "pocketing", it's rolling over, and it defers most of the costs, not claimed depreciation. I'm all for RE investing, I'm an investor myself, I've just seen too many people lose their ass because they see content like this without understanding the true numbers. That's all.
Rob, I have a question for you. I would like to offer paddleboard rentals at my Airbnb. I live in South Lake Tahoe California and am concerned about rental structure and liability. Do you have any advice for me? Thank you and nice work, been watching your videos for a long time.
10:08 - Hi! I hope you see this comment and would be so kind to respond, but is there any way you could tell me Eric’s information? I would love to use him in the future for air bnb photos!! Thank you Rob
Thank you for being authentic and not pretending to be a flawless investor. I understand that there is no one-size-fits-all solution, but I strongly believe that the lessons we learn help us grow as strategic investors. Please continue creating genuine and informative videos.
Great video Rob. You’re honest, learning, and growing. We riding with you!
Thanks for the motivation to keep pushing forward! We are almost a year in to owning our first property in the smokies and cant wait to see where this adventure takes us!
Never stop learning. Be ready to adapt at all times and you’ll crush it.
Amazing Vedio Rob! Salute man!!!!!! It’s a shame that BP let you go, but you are still a big asst to us regular audience !!
Hey Rob! Great video! I loved listening to you on BiggerPockets. Can you share what you know about cowboy pools? How have they helped with your listings and how much do they cost to install? You should do a whole video on cowboy pools
I'm just 8 min in but what he is sharing about increasing ROI also applies to LTR. I don't own any STR but have been focusing on increase ROI on my existing LTR rather than buying additional properties in this market.
Love this. How are you increasing ROI with your long-term rentals? Renovations and additional square footage?
@Robuilt I had 4 turnovers from long-term tenants this summer and did value add work during the make ready work, such as refinishing the kit cab with new hardware and granite countertops where applicable, new flooring, new bath vanity and things like that. Anyway, the additional spend fetched a great return. I've spent that last few years adding 2 or 3 properties a year until 2023, and afterwards, decided to focus on value add work and rent increases as they become available. It was kind of stressful getting 4 unexpected vacancies over the summer, but put my plan in to action and now going into fall with additional cash flow that's the equivalent of adding 3 or 4 additional properies to my portfolio. Thanks for asking, and I appreciate your content!
The design of your new house is so dope
Thank you very much! Been in the making for like 2 years now.
Awesome video Rob!
That tv behind the tennis field tho😅
Great content, thanks Rob for sharing.
Great content! Awesome background bro. Is that one of your property?
At the very beginning of the video? That’s my living room!
@@Robuilt Yes. That's awesome!
Fightin' Texas Aggie AirBnb!
🤘🏽
Thank you for sharing!
Interesting perspective! So you’re saying 'door count' is just a vanity metric? 🤔 Makes me rethink my strategy entirely!
How about an update on your flip failure from almost a year ago?
💪 Great Work!
Awesome content!
Appreciate it 🫡
Thanks for the videos and motivation!!
Of course! Here to serve 🫡
I hate misleading claims. You won't "pocket" 1 mil. It will cost at least 350k to sell it, what you spent on it isn't gain, and you probably have to recapture a lot of depreciation you wrote off, then you have capital gains. So maybe you pocket 400k. Which is good but a huge 3.2,+ mil risk. You should be honest and stop misleading unassuming fools into jumping into these high risk scenarios only to lose their ass.
There is certainly a possibility he does "pocket" 1 mil on this property.
1. His mortgage is not 3.3... it was probably 80% of that.
2. His renters are paying the mortgage so even his mortgage "cost" is profit in the equity
3. The monthly net has certainly paid back their initial investment plus some over the last 3 years
4. rolling this into another property using a 1031 would avoid the other "costs" you've listed.
It's not misleading to say he would pocket 1 mil because he could. Are there caveots to that statement sure! But it's do different than if you during a casual conversation tell me that you just sold your car and pocketed 20k... no you didn't... but we both know what you mean.
@@Detritus0311 @Detritus0311 1. pocket refers to profit, 2. mortgage is front loaded so renters are mostly paying interest the first 5 yrs - not principal, 3. Absolutely the net is part of the gain, 4. 1031 isn't "pocketing", it's rolling over, and it defers most of the costs, not claimed depreciation.
I'm all for RE investing, I'm an investor myself, I've just seen too many people lose their ass because they see content like this without understanding the true numbers. That's all.
Thanks!
Woooow! You’re awesome. It’s always such a delight to get these. Thank you.
great video
Awesome
Rob, I have a question for you. I would like to offer paddleboard rentals at my Airbnb. I live in South Lake Tahoe California and am concerned about rental structure and liability. Do you have any advice for me? Thank you and nice work, been watching your videos for a long time.
Hi Rob, do you offer 1:1 consultations?
Seconded
10:08 - Hi! I hope you see this comment and would be so kind to respond, but is there any way you could tell me Eric’s information? I would love to use him in the future for air bnb photos!! Thank you Rob
Yeah! You can find him on IG! @barkhurststudios
I keep thinking of upgrading my home in joshua tree but idk if it will be worth it.
I'd focus a lot on the backyard experience than the in-home experience.
@Robuilt for sure. I have amenities. I guess it needs to look better.
Do you have Jordano's contact info? Would love to have him help me with a project in the area
The difference between knowing your 5h1t and knowing you’re 5h1t…..
Hogwash. You saved it by posting TH-cam videos on it