Formula is simple, the better the returns, the higher the risk. When someone says if a STR to be Ok, has to work as a LTR, it's referring to you having a mortgage and not being able to pay that mortgage with the STR income, you have that backup plan as a LTR. Things happens: crowded competition on the same area, risk of getting banned on platforms, customers giving low scores to your listing, big events like a pandemic, all of these are high risk factors, that if you can afford them and can deal with the pain of losing it all, then go for it!
Hi guys, I love your channel! You bring so much energy and great content. You’re easy to listen to and content is simple to understand. Keep it coming. I will be selling one of my LTRs to invest in STRs and Multi Family properties in 2022. I’m very anxious and excited to make that transition.
We just bought our first STR property in Pigeon Forge. I just love watching your videos. I have learned a ton from you and your energy inspires me. Love that you guys do this together! Wish I had started a lot earlier in life…
I’ve been listening to real estate rookie for a while but started trying to find info on STR on RU-vid. I clicked this video not knowing who these guys were until he said tony ROBINSON. I said as in rookie real estate host??? SUBSCRIBED
i like to think of it like this: if you live in an area with heavy vacation traffic (ex. Miami, L.A. ) go with airbnb, but if you live somewere like ohio, go with long term tenants
There are additional ways that long term rentals make money apart from the rent. There is appreciation and also depreciation. Thanks though for sharing your insights.
I’ve been following the real estate rookie podcast for a while and didn’t even realize I was also following you guys on tik tok. Love the content! Any videos to check out specific to financing short term rentals?
Great video, great material; question? At what number of STR do you guys went all in full-time in STR, (No W2) and how this change affect you in purchasing others properties without a W2? Thank you
For the studio you described, the visitor would have to pay over $300/night in order for you to profit $8,000/ month after fees. These numbers don’t make sense. Why would someone pay over $300/night for a studio when then can stay in a comfy hotel and have their room cleaned?
Tony i'm a huge Fan from your Podcast real estate rookie. I just found this channel. Looking to get into short term rentals, what books would you recommend I read right off the bat
Trying to catch up on your channel! Would you always buy property in the same place you reside? Or would you buy property in places you frequently vacation to? If the second, how do source properties?
Where the heck did you get $8,000 in a month for a studio apartment that would only rent for $1,000 per month as a long term investment? In most markets I've seen you can usually get 50-100% more doing short term rental when compared to long term rentals.
I have to push back a little on your objection to “don’t buy unless it also works as LTR”. Your comparison to a hotel is a little misleading, since local laws can change for STR without affecting a hotel business, as far as I’m aware.
Sara mentioned not having a W2 job anymore; Tony, do you still have a W2 job? And, did you start purchasing properties while you still had W2 jobs or did you save up and quit your jobs to pursue LTR/STR? Which would you recommend? Loving the videos!
Tony had a w-2 when we first started acquiring properties and just recently left his job to go full time into real estate! We can’t recommend, you have to decide what’s best for yourself! 💕 and thank you so much!!
We already have rental properties we own in Dallas, Houston and Jacksonville. What we are considering is a Airb&b as an addition to our portfolio. With that said, we’re trying to figure out where would be the best location for this. Any ideas?
If you know someone with a property in Portugal that would agree to host me, Lawyer can also assist on drafting the paperwork to make D7 Visa application.
Great video again! Ha, been enjoying the content. Quick question on this, why would you only put 10% downpayment for the house vs the traditional 20 - 30%?
Because the more you put down the less capital you will have to continue purchasing more properties. Also considering the post purchase cost like any renovations and furnishing a place to start renting it.
@@marcinciolek9141 find a different lender or get creative. You can house hack (move in yourself to the property as your primary residence which only requires 5% for a conventional loan) and keep your other property as an investment property as long as you lived there for 12 months. Buy the house with a partner who moves in as their primary residence and rents the property (or part of the property if there are multiple doors) from your and him/herself, then you own it 50/50 and split expenses and income and management as well. If you need to do an investment property loan then search for a lender that does a 10% down payment requirement investment property loan with no PMI (rate is a little higher and they have about a 2% fee for the loan but that saves you 8% up front). There are more creative solutions but that's just to name a few that are not illegal.
Really? Where do you live? In California you can only do 3.5% if you're going to be living on the property. For long term rental they consider it an investment and they want 25%
@@TheRealEstateRobinsons lol yes you smile even when you’re talking. I get very narrow visioned watching your channel. I’m glad you have really nice teeth too.
Short term rentals make more sense for me I feel! 👌🏾 My family did long term rentals so definitely understand the differences so even owning maybe a mix of both?
