{"id":9889,"date":"2023-11-05T15:58:36","date_gmt":"2023-11-05T15:58:36","guid":{"rendered":"https:\/\/imsfund.com\/?p=9889"},"modified":"2023-11-05T15:58:36","modified_gmt":"2023-11-05T15:58:36","slug":"rehab-costs-renting-vs-owning-and-the-end-of-real-estate","status":"publish","type":"post","link":"https:\/\/imsfund.com\/index.php\/2023\/11\/05\/rehab-costs-renting-vs-owning-and-the-end-of-real-estate\/","title":{"rendered":"Rehab Costs, Renting vs. Owning, and The END of Real Estate?"},"content":{"rendered":"


\n<\/p>\n

Could the end of <\/strong>real estate investing<\/strong><\/a> already be upon us? <\/strong>How do you know how much to spend on a renovation before buying a house? And is a negative cash flow<\/strong> rental EVER worth investing in? On this Seeing Greene<\/strong>, we\u2019re answering the tough questions you\u2019ll be forced to ask in a hard housing market <\/strong>so you can build wealth while the masses run for the hills<\/strong>. Thankfully, David has his co-pilot on this episode!<\/p>\n

David and Rob are back to answer YOUR real estate questions, EVEN if you\u2019re too scared to hear the answers. On today\u2019s show, a live caller asks, \u201cHow do I get a renovation estimate BEFORE bidding on a <\/strong>BRRRR<\/strong><\/a>?<\/strong>\u201d If you\u2019ve stressed over which comes first, the bid or the buy, stick around. We\u2019ll also touch on negative cash flow<\/a> and when it makes sense to buy a rental that\u2019s losing money<\/strong> every month (there\u2019s a science to this). Then, for all you doomsayers, David and Rob give their take on what happens when the population declines, and no one is left to rent houses.<\/strong> Finally, we answer the age-old question, \u201cshould I rent or buy in today\u2019s market?\u201d<\/p>\n

Want to ask David a question? If so, <\/strong>submit your question here<\/strong><\/a> so David can answer it on the next episode of Seeing Greene. Hop on the BiggerPockets forums<\/strong><\/a> and ask other investors their take, or follow David on Instagram<\/strong><\/a> to see when he\u2019s going live so you can jump on a live Q&A and get your question answered on the spot!<\/p>\n

\n

David:
This is the BiggerPockets Podcast show, 840. What\u2019s going on everyone? It is me, David Greene, your host of the BiggerPockets Real Estate Podcast, the biggest, the best, the baddest real estate podcast on the planet for a long time, bringing you what you need to know about real estate to stay up to speed, current, and in the know of what\u2019s going on in this market, which is changing now, more than ever.
In today\u2019s episode, Rob Abasolo and I will be handling it, Seeing Greene style. Now, normally there\u2019s a green light behind me. That\u2019s not the case right now because I am traveling to promote Pillars of Wealth, but that doesn\u2019t stop us from bringing you educational, powerful and free real estate content.
In today\u2019s show, ooh, you\u2019re going to love it. We get into sequencing the work for rehab projects. What is the order that you should do when it comes to getting pre-approved, to getting bids on construction, ratting offers, moving forward with the escrow and strategies you can use to put that in your favor. When cashflow is or isn\u2019t appropriate, this is a really good discussion about the complicated question of, is it okay to cashflow negatively if I\u2019m making a lot of money, and what needs to go into that question?
With the aging population, is real estate a risk long-term? I thought that was a really good discussion that we had as well. Rob, what are the factors that make real estate go up or down in value, and what will that be like in the future if the population of America stops increasing like other first world countries have? And can I own real estate while still renting where I live?
All that and more on today\u2019s show. But before we get to our first question, today\u2019s quick tip is simple. Get your team together, build your core four, and start your journey and BiggerPockets can help. We\u2019ve got an agent finder, which you can find at biggerpockets.com\/agents. I\u2019m one of the people on there, so go look for me as well. You can find an agent in your area and ask them if they can help you put your core four together. If they know what that means, it means they probably read my book and you\u2019re off to a good start. Rob, anything you want to say before we get to our first question?<\/p>\n

Rob:
This is very fun. This is a very fun format. I can\u2019t believe I\u2019ve been missing out on this for two years. Thank you for allowing me to come on this. I want to do this more. Have me on.<\/p>\n

David:
First time you\u2019ve ever put me and fun in the same sentence.<\/p>\n

Rob:
Hey, there\u2019s a first time for everything and there\u2019s a second time for everything, too. So if you hold out, maybe I\u2019ll say it again.<\/p>\n

David:
The only time people really talk about me being fun is when I\u2019m talking about fundamentals, which people think are fundamentally boring.<\/p>\n

Rob:
That\u2019s the name of your 11th book that you\u2019re currently writing for 2027, right? All right, let\u2019s get into the show.<\/p>\n

David:
Sean, welcome to the show. What\u2019s on your mind today?<\/p>\n

Sean:
Thanks, David. First of all, I\u2019d like to say thank you for taking the time to have me on and answering my question. You and Rob have been instrumental in my decision to get into real estate, so it\u2019s really quite surreal being here and talking to you both live, so thank you.<\/p>\n

Rob:
Oh, hey, happy to do it.<\/p>\n

Sean:
A bit of relevant background. My cousin and I have teamed up as partners. He is an investment banker living in New York City and I\u2019m a corporate lawyer living in Boston. We have leaned into the concept of long distance real estate investing, given our expensive local markets. We own a couple of properties and want to continue building our portfolio. And we\u2019re looking to enhance our returns on future investments by employing the BRRRR strategy and we are working with an investor focused realtor in an out-of-state market we have selected.
Our skill sets are great on the transactional and analytical sides, but we have little to no experience in renovation and construction, and any BRRRR investment would be made from afar. So we do not have the ability to see properties firsthand, which leads me to my question. Could you explain the sequencing of arriving at a renovation estimate for a BRRRR? Do we try to get contractors to the property and provide bids before we submit our offer? This would provide surety for our offer, but I can see it being hard to send contractors out for every property we want to offer on, particularly if you want to get bids from multiple contractors.
Alternatively, if we cannot get contractors to the property before making an offer, what should we do as inexperienced rehabbers to inform our renovation estimate without a bid from a contractor? We found that given the increasingly slim margins in the current market, picking the wrong end of estimate range could mean the difference between a good deal and a bad one. Any help is appreciated. Thank you.<\/p>\n

Rob:
Sure, yeah, yeah. So David, I\u2019m going to let you jump in on this one first. You actually answered this not too long ago because I had this question, if you recall, where I was like, \u201cWell, do we get the offer accepted first and then get the contractor? Or are we trying to get the contractor first and then get the offer accepted?\u201d So you provided some pretty good insight. Can you let us know what your process is?<\/p>\n

David:
I love these questions. Why can\u2019t everyone ask me a question that\u2019s simple as, what\u2019s the system or the sequencing? It\u2019s always like, \u201cWhat do I do because I don\u2019t know what the market\u2019s going to do?\u201d And you\u2019re like, \u201cWell, great. Now I have to try to dive into that ocean of confusion.\u201d This is really easy. Let me ask you before I answer that, Sean. Did you have chat GPT help you formulate that question?<\/p>\n

Sean:
No, I did not. I\u2019ve listened to your takes on AI and I agree with you. I wrote that myself.<\/p>\n

David:
So you are AI. Dude, that was really good. Anytime someone has to ask you if AI helped you write it, that\u2019s saying that you sound too good as a human to be believed. Are you married?<\/p>\n

Sean:
I\u2019m married. I think it\u2019s the corporate lawyer in me coming out.<\/p>\n

David:
Yeah, that\u2019s not surprising either. Tell your wife that she married the pinnacle of masculine perfection, at least when it comes to the written word. She\u2019s a very lucky woman. All right. So to simplify this, you\u2019re asking here, do I get a bid from a contractor before I write my offer or do I do it after? Correct?<\/p>\n

Sean:
Yes.<\/p>\n

David:
Okay. You want to get a range from your contractor before you write the offer, but you\u2019re not going to get it locked until after. And the reason being is if you try to do it what feels like perfect, which is what most people do. I want the bid before I write the offer because I got to get everything lined up before I squeeze the trigger. Someone else will buy it.
I mean, I\u2019ve broken a lot of hearts in the real estate space by moving in and buying that thing right before somebody else had their offer written because they were taking too long. And then when you\u2019re in contract, you get the information and if it doesn\u2019t work out, you just back out of the contract. Really, I forget sometimes that people don\u2019t realize how a real estate transaction works because I\u2019m a real estate agent and so I do this all the time.
Writing an offer is an incredibly low commitment. I just want to say this again. It is like getting on a first date. It doesn\u2019t really mean a whole lot. If the person smells like fettuccine Alfredo, if they\u2019ve got a lot of nose hair, if there\u2019s something weird going on, you just don\u2019t go back for a second date and you\u2019re out the price of an Applebee\u2019s dinner or whatever it is, right?
People look at it like asking for a date is asking for someone\u2019s hand in marriage and you\u2019re going to have to pay a lot of money to reserve a wedding venue. That\u2019s more like when you wave the contingencies. Two things to keep in mind that on execution, will make this strategy easier.
One, include a contingency so you can back out of the deal. If you can\u2019t put a very, very low earnest money deposit in there, right? As low as you can get, because worst case scenario, if there\u2019s no contingencies and it was a hot deal and it all falls apart, you\u2019re [inaudible 00:07:12] out whatever your earnest money was. You\u2019re not out the potential tens of thousands of dollars or more than it could be if the deal goes wrong and you feel like you\u2019re compelled to close on it.
So my formula is to have a home, to get the property that I see, have someone go out there and make a video. If I like it, get my contractor to go walk it and the contractor shouldn\u2019t need you to tell them every tiny little detail that\u2019s done. They should look at it and say, \u201cYeah, it\u2019s going to need paint. We\u2019re going to need to frame up a bedroom right here.\u201d What\u2019s your plan for this thing? And I give them an overall vision and they will say, \u201cHey, it\u2019s going to be somewhere between 25 and 50 grand, depending what you want done.\u201d Okay.
That should be enough for you to make the decision on where to write the offer. You write the offer now during your inspection period, you have a home inspector go out there and a contractor go out there at the same time. This is probably the part that Rob was liking when I was talking about it before. The inspector talks to the contractor and is like, \u201cDid you see that outlet right there is not working? Make sure you put that in your scope of work that you\u2019re going to need to replace that electrical outlet or the panel over here isn\u2019t working or that window is completely done. It\u2019s going to need to be replaced.\u201d And so that goes into the scope of work of the contractor.
At the same time that the contractor can say to the home inspector, \u201cThat\u2019s weird. Why isn\u2019t this faucet working?\u201d And he can kind of look at the plumbing. The two of them work together to figure this out. Then they come back with a menu, right? This isn\u2019t long distance real estate investing. Here\u2019s all the work that needs to get done and here\u2019s how much each of these things cost. Not, do the work equals 50 grand.
It needs to be itemized, which I\u2019m sure you as a corporate lawyer, can understand because you guys are always trying to get us to just give you a retainer and waste all of our money and we\u2019re trying to keep\u2026 I\u2019m just kidding. It\u2019s not really that bad. So once you\u2019ve got that, now you can decide if you need to drop the price of the home, move forward with closing, or back out of the deal completely. What do you think?<\/p>\n

Sean:
Yeah, that works. And so you answered one of my follow-up questions was, if you\u2019ve estimated incorrectly, how do you fix that after the fact, where you say, \u201cOkay. It looks like I just replaced a couple outlets,\u201d but you get in there and you realize you need to totally rewire the place or \u201cHey, the floor\u2019s going to be five grand.\u201d \u201cNo, it\u2019s actually going to be 20 because it\u2019s rotted underneath and you need to rip it up.\u201d You\u2019re saying you\u2019re going to use the inspection contingency that you have to say, \u201cHey, look. This isn\u2019t what I thought it was. I need to pay you 20,000 less because these cost a lot more.\u201d<\/p>\n

David:
Here\u2019s the magic words. Yes, you got the right idea. The execution of it, don\u2019t say, \u201cThis isn\u2019t what I thought it was.\u201d Say, \u201cHey, this wasn\u2019t disclosed.\u201d That\u2019s my favorite thing to say when I\u2019m an agent, \u201cHey seller. Unfortunately, this part wasn\u2019t disclosed when we made the offer. You didn\u2019t tell us that the electrical\u2019s not working and the roof is leaking and the walls are bad and it\u2019s got rodents. You didn\u2019t tell us. So in order for us to fix these things, we have to make these changes.\u201d
And the listing agent will come back with a, \u201cBut why did you write the offer if you weren\u2019t going to close?\u201d \u201cWell, we write the offer assuming that the only stuff wrong with the house is what you told me. You didn\u2019t tell me about all the baggage that it\u2019s coming with. So now, here\u2019s what is going to be worth to us.\u201d And it puts you in a position where they can\u2019t question your motives, if you\u2019re a bad person.
They can\u2019t look at it and say, \u201cOh, you were never intending to pay that price in the first place.\u201d And also, as a side note, when I\u2019m listing a house, that\u2019s one of the reasons that you disclose everything that you know is wrong with it ahead of time, so that the buyers can\u2019t come back and ask for a discount because I can always, as a listing agent go back and say, \u201cNo, you knew about this. The disclosures were given to you. We even did an inspection report before you wrote your offer. You saw all of this. My seller is not going to grant any of those credits.\u201d<\/p>\n

Sean:
That\u2019s very helpful. And the other follow-up question I had is, do you have any advice for getting to a sufficiently specific range of an estimate for purposes of submitting an offer? Right, so that\u2019s an estimate that I\u2019ll be creating and I need to go in and say, \u201cOkay, floor is between five and 10 grand and doing the kitchen will be between 10 and 15.\u201d
A lot of times I\u2019ve spoken with people and they say, \u201cWell, every job\u2019s different. And I can\u2019t really give you a good [inaudible 00:11:14], right? I need to see it.\u201d Or even worse. I know you like the places that have five photographs and the [inaudible 00:11:23] MLS that look like they\u2019re taken on a potato and those are the ones that you like to go after because they\u2019re the value add.
Well, that\u2019s really tough for me to estimate a rehab on those five potato pictures and I only see half of the house and I don\u2019t see a floor plan. So can you give some advice on that as well?<\/p>\n

David:
Have you read Long-Distance Real Estate Investing? I feel like you haven\u2019t read it yet.<\/p>\n

Sean:
Yeah. It\u2019s right over my shoulder, as is BRRRR.<\/p>\n

David:
It\u2019s in the queue? Okay.<\/p>\n

Sean:
No, no, I have read it and that\u2019s the basis. So I\u2019m trying to [inaudible 00:11:53] Long-Distance Real Estate Investing and BRRRR.<\/p>\n

David:
You\u2019re right. It\u2019s impossible to judge by the pictures. The pictures are just like, we\u2019re going to go back to online dating. Okay? I can\u2019t get a good feel for what this person\u2019s like based on their pictures, but I can get enough of a feel\u2026 By the way, I don\u2019t do online dating. So if you guys out there see a profile that looks like me, it\u2019s a catfish, don\u2019t fall for it. It\u2019s happened before.<\/p>\n

Rob:
Yeah, they got me pretty good with that one.<\/p>\n

David:
That\u2019s how Rob and I met, actually. Funny story about that on the next episode of BiggerRomance. You can know enough from the pictures to know if you want to go on a date, but the date\u2019s going to tell you what you need to know. Okay? Those pictures will tell you if you want to look into it deeper. You still need to send someone to the property with a phone to take a video of the house.
Now, if your contractor won\u2019t do it, have the person get really good video and then send that to the contractor. And if they\u2019re like, \u201cWell, every job\u2019s different, I need to look at it.\u201d I\u2019ll say, \u201cOkay. Assume that we have to replace all of these cabinets and all of these appliances, and put a new floor in here. Give me a range from here to here of what you think it\u2019ll cost.\u201d
Now that helps because they\u2019re worried you\u2019re going to blame them if their number\u2019s too high, but they\u2019re also worried that if they go too low, they could have made more money off of you. That\u2019s why they don\u2019t want to give you the hard and fast answer, but if you could give them the video and say, \u201cGive me a range,\u201d they\u2019re much more likely to say, \u201cOkay, well, it could be anywhere from here to here.\u201d
I\u2019m not afraid of telling him something that I can\u2019t actually back up. And then you still have negotiating power to go to the contractor and say, \u201cWell, it needs to be on the lower end because you\u2019re talking to other people.\u201d So they got to still respect you a little bit. Does that make sense?<\/p>\n

Sean:
Yes, that\u2019s very helpful. Thank you.<\/p>\n

David:
And ideally, you want your real estate agent to be the one that takes these videos for you. One of the reasons that you can use a buyer\u2019s agent. If you just can\u2019t find a way to do that, the listing agent usually doesn\u2019t want to go and take video because that\u2019s going to be helping you in the negotiations over them. So I\u2019ve used people that are in the area from the BiggerPockets forums, if I needed a video taken. You just have to figure out some way to get in the door.<\/p>\n

Sean:
Makes sense. Thank you.<\/p>\n

David:
All right. Anything you want to add, Rob?<\/p>\n

Rob:
No. I mean, there\u2019s no room for someone like me at the top. You answered it perfectly.<\/p>\n

David:
Rob, keeping his dollars per word really, really high right now. This is expert work.<\/p>\n

Rob:
Awesome, Sean. Thanks for the question. If people want to connect with you on the internet, where can they do that?<\/p>\n

Sean:
Yeah, sure. I\u2019m on BiggerPockets. Sean Linnehan, S-E-A-N-L-I-N-N-E-H-A-N, and also on Instagram. Same name. Sean Linnehan, @seanlinnehan.<\/p>\n

Rob:
Awesome, man. Thank you.<\/p>\n

Sean:
Thank you.<\/p>\n

David:
Thank you, Sean GPT.<\/p>\n

Sean:
Thanks, David.<\/p>\n

David:
All right. Thank you Sean for that incredibly accurate and well-worded statement [inaudible 00:14:27] that you gave there. Thanks for being on Seeing Greene. I thought that was pretty good. Rob, what\u2019d you think about that?<\/p>\n

Rob:
It was good, man. Honestly, I think it\u2019s the first time we\u2019ve ever heard sequencing on the show. So there\u2019s a first for everything and now, the sequence of events that we move on to.<\/p>\n

David:
That\u2019s right.<\/p>\n

Rob:
Favorite\u2026 Comments?<\/p>\n

David:
Yes. We\u2019re getting into the section of the show where we are going to share comments that you all have left on previous episodes on YouTube. If you would like to be featured on Seeing Greene, we\u2019d love to have you. Head over to biggerpockets.com\/david, where you can submit your question.
And remember, if you\u2019re listening to this on YouTube, in addition to leaving a comment, please like the video, subscribe to the channel, and share the video with someone you love.
All right, our first comment comes from Jevon Music Group. I have grown to love my half hour drive to church every Sunday. Thanks to your videos, I learn so much each week. That\u2019s right. Seeing Greene, making even church fun. Glad to hear that. Next one comes from a Davidovich. I love saying names like that.<\/p>\n

Rob:
I think it\u2019s a David Ovich.<\/p>\n

David:
You\u2019re probably right. I\u2019m doing it completely wrong.<\/p>\n

Rob:
Is it possible that you\u2019ve read so many of these over the years that you\u2019ve mispronounced their handle so much that they actually never knew that it was their own comment that they left?<\/p>\n

David:
Oh, and so they were thinking that someone else left something brilliant, but it turns out it was them?<\/p>\n

Rob:
They have no idea their question was answered. They\u2019re like, \u201cOh, that guy has a name that sounds kind of like mine. That\u2019s cool.\u201d<\/p>\n

David:
Yeah, because it\u2019s much more likely that his name is David Ovich than it is Davidovich. All right, moving on here.<\/p>\n

Rob:
[inaudible 00:15:55].<\/p>\n

David:
Mr. David Ovich. Thanks for regularly creating great free content. I found a lot of useful information just by listening to you guys. Also, I love the tools that are made available with the pro membership. Yep, that pro membership is probably the best deal in real estate. Couple hundred bucks a year and you get unlimited use of calculators, discounts on all kinds of stuff-<\/p>\n

Rob:
Like leases-<\/p>\n

David:
Yep.<\/p>\n

Rob:
To every state or something.<\/p>\n

David:
My team uses the rent estimator tool constantly for our clients that are considering buying houses all across the country and want to know what the rent would be. So if you\u2019re not already a pro member, definitely keep listening to the show and occasionally, you\u2019ll get a discount. Next up from [inaudible 00:16:33]. Thank you David, for all that you do. Your podcast share immense knowledge and provide courage to take the steps necessary. I wish I knew about BiggerPockets during COVID time. I could have started early, but better than not buying ever. Thank you for your guidance. Oh, that\u2019s sweet. That\u2019s so sweet.<\/p>\n

Rob:
That is really nice, isn\u2019t it?<\/p>\n

David:
Yeah, and look at all the exclamation points that are in there and smiley faces.<\/p>\n

Rob:
That\u2019s how you know that they meant it because they didn\u2019t even do the emoticon version. They did the actual\u2026 Or they didn\u2019t do the emoji version. They did the emoticon version. Yeah, exactly.<\/p>\n

David:
Emoticon.<\/p>\n

Rob:
They\u2019re OG.<\/p>\n

David:
Is that what happens when a transformer becomes an emoji?<\/p>\n

Rob:
Yeah. I think an emoticon is the original emoji before it was like the yellow circles.<\/p>\n

David:
Look at Rob with the history lesson for all of us.<\/p>\n

Rob:
All right. That\u2019s right.<\/p>\n

David:
Moving on to our last comment from BigMike8981. David knows how to tell you the truth and give you the tough conversation that nobody wants to have with you. Bravo, my man. That is probably my favorite comment that we had today because that\u2019s exactly what I strive to do.
And let me tell you, it is not fun to be the person that says, it is going to be difficult. You could get hurt and this is very tough right now when all of the competition is like, \u201cNah, just go in and buy it and you\u2019ll figure it out later. Jump out of the plane and build your parachute on the way down.\u201d
Rob, do you have any insight you want to add on any conversations we\u2019ve had that you\u2019re like, \u201cThat\u2019s not what I wanted to hear?\u201d Or any advice for me of how I can make the medicine go down a little smoother?<\/p>\n

Rob:
Well, I invested a lot of money recently into bell bottoms, thinking that they were going to come back in and I was committed to them and you\u2019re like, \u201cHey, can I sit down with you for a second? You can\u2019t wear those to be BP Con. They\u2019re not working. Stop trying to make them work.\u201d And it hurt and I\u2019ve since, donated them to Goodwill, but I\u2019m honestly, in retrospect, I\u2019m really happy. Thank you.<\/p>\n

David:
I\u2019m glad to hear that. That\u2019s what real friends do. They tell each other what they need to hear, not what they want to hear. I recently reached out to you because you\u2019re doing so good with your fitness and your diet and I was like, \u201cHey, I need to hear what diet you\u2019re on\u201d and your reply was, \u201cYou already know what to do. Eat more meat and workout. Leave me alone. I\u2019m working.\u201d So it\u2019s not just me that gives helpful advice. Thank you, Rob, for absolutely nothing.<\/p>\n

Rob:
It was a little nicer than that. It was a little, but see, I said that because you\u2019ve done it before. I was like, \u201cLook, you know, we all know. Wake up early, work out, eat healthy, repeat.\u201d That\u2019s the book that I\u2019m going to write. Wake up early. It\u2019s like-<\/p>\n

David:
Make an acronym out of that, yeah. I\u2019ll let you do the words while I\u2019m reading the next part here and then you can come back and call it the [inaudible 00:19:02] method or whatever it\u2019s going to be.<\/p>\n

Rob:
Yeah.<\/p>\n

David:
All right. Let\u2019s get back to the questions from you, our audience and see what we can do to help you build wealth in your journey. Rob, I hear we have an update from you live on scene with the new method. What is it going to be?<\/p>\n

Rob:
[inaudible 00:19:19]. Wake up early, eat healthy, and repeat. [inaudible 00:19:24].<\/p>\n

David:
The [inaudible 00:19:24] Method. Whoop, there it is. All right. Our next question comes from Idan in LA.<\/p>\n

Idan:
Hi, David. My name is Idan from Los Angeles and my question for you is, if I\u2019m purchasing a rental property in a good growing area, area that should appreciate very well\u2026 For example, in North Carolina, I have a few neighborhoods that I know that they\u2019re very good. If I\u2019m purchasing a property that after all the expenses, I\u2019m running the calculations through the BiggerPocket\u2019s tools, after all the repair, CapEx, vacancies, mortgage, insurance, taxes, after everything, I\u2019m negative cashflow 300, 400, 500 because of the interest today and the high prices. This is a very good area and I\u2019m buying it in market prices not below too much.
Obviously, I\u2019m trying to find a creative way to add value, but if I\u2019m negative cashflow $300, $400 and I can afford it. I\u2019m okay with it. I don\u2019t need the cashflow right now and I\u2019m counting on appreciation in the future. Does that make sense to do something like that, if I can afford it? And it\u2019s important to me to be in a very good location. Any help about it will help. Thank you so much for everything you do for us. Thank you.<\/p>\n

David:
All right. Idan bringing the most controversial question in all of real estate investing right to our doorstep. This is probably going to go viral as half of the country will love us and half will hate us. Welcome to the controversial firing, Rob. What do you have to say?<\/p>\n

Rob:
Let me rephrase the question. Should I buy a property and lose money on it, if I believe that it will appreciate like crazy over the next few years? My answer is no. Because the thing is, when you are accepting of a loss\u2026 Listen, and again, I\u2019m not going to fault anyone who does this, but given the current economic climate, I would say this. Losing two or 300 or 400 or 500, I don\u2019t know what he said, dollars every single month, feels okay when you\u2019re making a lot of money and that you feel like you can absorb it.
But it doesn\u2019t feel so good when your other income sources deplete or whenever you lose your job or whatever happens in the next couple of years affects your financial situation. That two or $300 a month starts burning a hole in your pocket. I would not bet on appreciation in 2023 as your savior in this situation. Had you told me that in 2019, 2020, 2021, absolutely. But I think we got to be a little bit more conservative with that. I\u2019m fine with breaking even, I will say that. Losing money, I\u2019m out. What about you?<\/p>\n

David:
All right. This is a little more nuanced than it sounds because it\u2019s not as simple as, can I lose two or 300 a month if I might make more money somewhere else? I have lost money in real estate, especially lately with how things have gone, but it has never been from the cashflow not being enough to two or $300 a month. It\u2019s been from city regulations, construction projects going wrong, permits not being given, work being done incorrectly that needs to be redone. There\u2019s lots of ways you can lose money in real estate outside of just the cashflow not being there. But that doesn\u2019t get discussed.
We typically only talk about, well, the calculator said that my cashflow would be this much and it was less than that. I\u2019m losing money. The reason that I am not as worried about this particular gentleman losing two to $300 a month is because in general, that is the amount of money that somebody can make picking up an extra shift at a restaurant once a month or picking up a coffee shop shift twice a month. It\u2019s not something that\u2019s going to cause you to actually lose a property.
I\u2019m more worried about a tenant destroying it, things going wrong with the property that you don\u2019t have the money to fix. Getting into the short-term rental game without reserves to where you can\u2019t keep up with what your competition is doing and slowly falling further and further behind and not having the option to rent it out, in a traditional sense. Those big things are much scarier to me than the possibility that he might lose a little bit of money.
I\u2019d also say that if he\u2019s banking on appreciation and there\u2019s no reason to buy it, that\u2019s speculation, okay? But if he\u2019s buying it in an incredibly good area with constricted supply, increasing demand, where it is reasonable to think that rents are going to go up and you\u2019re going to get a very good tenant, that actually makes the investment safer, even though it\u2019s losing a little bit of money.
So we didn\u2019t get quite enough information to give this particular gentleman a take on if he should buy the property or not. I would\u2019ve needed to know the actual city, the ability that he could create revenue in other ways. Is there a value add to this property where he could add an [inaudible 00:23:45] to it?<\/p>\n

Rob:
He said that there wasn\u2019t really a value add and he said that he believed in the city itself. So I think it\u2019s like\u2026 Assuming that those two things are correct, it\u2019s a great appreciating city, he can\u2019t add value, I think that\u2019s sort of the particular situation here.<\/p>\n

David:
Well, my take would be the X factor is, the money you\u2019re making now isn\u2019t necessarily the money you\u2019re going to make in the future. Okay? So he says in the note here that he is a contractor making very good money in Los Angeles. Now, if that was going to continue, yeah, it\u2019s okay to lose two or $300 a month for the short term because you\u2019re going to make money later. The difficulty becomes if you lose your job and you can\u2019t make that money. But then again, is two or $300 a month going to actually kill you, right?
You could probably cancel a couple cable subscriptions or eat out a little bit less. You could probably take that money out of the budget you have. That\u2019s not the most dangerous thing. The most dangerous thing would be if your tenant doesn\u2019t pay rent at all. We get focused on the numbers aren\u2019t working in the calculator. We don\u2019t think about what if the tenant just stops paying and it takes four or five months to evict them. That is so much more significant than $200 a month as far as how much money you\u2019ll actually lose. Rob, does that weigh into your advice on the location of the property and the quality of the tenant?<\/p>\n

Rob:
Kind of. I guess, what you\u2019re saying is absolutely true. If the tenant doesn\u2019t pay, they\u2019re not only losing the two or 300 bucks, they\u2019re losing the actual rent, too.<\/p>\n

David:
Like 2000 or $3,000 a month and that, over three or four months-<\/p>\n

Rob:
That\u2019s significant.<\/p>\n

David:
Yeah, that\u2019s way more money than a couple hundred bucks.<\/p>\n

Rob:
But I think that extra $300 on top of the payment\u2026 Sorry, the tenant not paying, is a lot more painful in that moment than the 300. And that\u2019s why I\u2019m like\u2026 Listen, I\u2019m an aggressive investor, all right? I\u2019m not the kind of person that makes very conservative purchases or investments, but I don\u2019t\u2026 No matter how aggressive I am, rule number one is to never lose money. There are some situations where I have and there are some situations where the tax benefits make it to where I actually save a lot of money, but in general, if I could break even, that\u2019s at least requirement number one. I think that\u2019s always a fair way to approach it, no matter what, especially in 2023. But I could be swayed.<\/p>\n

David:
It\u2019s a hot topic, right? I don\u2019t know if there isn\u2019t a right or wrong answer here. It really does depend on the person and their financial position, right?<\/p>\n

Rob:
No, no. There\u2019s a right. It\u2019s what I said. No, I\u2019m just kidding. What if I just came in like guns blazing? Listen to me. I agree. There\u2019s no wrong or right. There\u2019s just what\u2019s right for you.<\/p>\n

David:
Yeah, because you could always just put more money down and the property cashflow is [inaudible 00:26:12], but the question becomes like, \u201cOkay, now it\u2019s cash flowing a hundred dollars a month instead of losing $200 a month,\u201d but you had to put a hundred thousand dollars into the property. Is that a better use of your money than putting that same a hundred thousand dollars in reserves and you can get by if it doesn\u2019t cash as much, right?<\/p>\n

Rob:
Totally. Someone asked me yesterday if they were like, \u201cHey, can I just ask. Is it stupid for me to put half down on this house?\u201d And I was like, \u201cLook, maybe a year or two ago I would\u2019ve been like, Hey, don\u2019t do that. And right now, I\u2019m kind of like, I mean, that\u2019s fine. Honestly.\u201d Could you make more money somewhere else? Yes. But could you be a lot happier if your mortgage payment was a lot lower and you didn\u2019t have to worry about a high mortgage payment every month during whatever\u2019s coming in 2023, 2024? I\u2019m good with it. Honestly.<\/p>\n

David:
So would you rather have the theoretical a hundred dollars a month of cashflow instead of $200 a month of losing money, but you had to put $75,000 down to get it? Is that 75 grand in reserve safer or is the cash flowing element safer? That\u2019s the question that I think people need to be asking. And if you had to put 75 grand down to make it cashflow, most people would say, \u201cWell, then I don\u2019t want to do it.\u201d Now you\u2019re not buying real estate at all, and that\u2019s kind of the circles that we\u2019re going back and forth in right now, right?
So let us know in the comments. What do you think about this negative cashflow? What\u2019s the right perspective to take? What would you have told Idan in this question and let us know. Should we do an entire show on the cashflow conundrum to cashflow or not to cashflow? That is the question.<\/p>\n

Rob:
Thy question.<\/p>\n

David:
Thank you.<\/p>\n

Rob:
I believe.<\/p>\n

David:
Or the question, as you would often say. Rob wants me to change my Instagram name to thedavidgreene24.<\/p>\n

Rob:
Yeah. T-H-E-E.<\/p>\n

David:
Yes. The dork game is strong with this one.<\/p>\n

Rob:
Our next question comes from Josh in Baton Rouge.<\/p>\n

David:
I always think of Gambit from X-Men whenever I hear Baton Rouge. Let me know in the comments, if any of you think of Gambit from X-Men every time you hear of Baton Rouge.<\/p>\n

Rob:
What is that? X-men? I don\u2019t remember that from my childhood.<\/p>\n

David:
Oh, really? A dork like you, doesn\u2019t remember [inaudible 00:28:01] X-Men. Not likely. The comments are going to be exploding right now with Cap. No way. All right. Josh here has a couple of short-term rentals in vacation markets in Arkansas and Florida, as well as a long-term rental in Louisiana. What are your thoughts on how the supply and demand for real estate will change in the coming decades as the baby boomer generation ages?
Some fear that this will result in a drastic enough change in population, that there\u2019ll be an oversupply of many goods, including real estate, causing prices to fall rather than the fairly steady increase we\u2019re all used to. I strongly believe that real estate will ultimately survive economic cycles, but I fear the effects of this on the medium term outlook for investors like myself in our 30s and 40s.
Do you think this is a legitimate concern or are the other forces at place strong enough to counter this effect? Thank you for all you do and thank you for all your resources. Wonderful question. I love this, Rob.<\/p>\n

Rob:
Yeah, it\u2019s good.<\/p>\n

David:
What goes through your head? What\u2019s your perspective here?<\/p>\n

Rob:
Yeah, I was nervous you\u2019d asked me first. I guess I would say that ultimately, real estate has existed since the beginning of time. People build houses and they sold them, lived in them, rented them. I don\u2019t know when real estate truly became prevalent, but I mean, it\u2019s been around for, in its current form, I would say at least a hundred years, right?
So it has survived many things. It has survived the Great Depression. It has survived World Wars, it has survived recessions. It has survived big booms in the economy. I would say yes, there\u2019s a legitimate concern in some capacity, but I don\u2019t think it\u2019s anything that would really destroy the real estate market in any significant way.<\/p>\n

David:
Well done. That\u2019s a great answer for being unprepared for how you were going to\u2026 Did [inaudible 00:29:43] got that? Did you just start talking and then figure out where you wanted to go when you were halfway through it?<\/p>\n

Rob:
Exactly. Well, I have a list of answers that are always kind of laminated by me that have just been waiting to use over the last year and a half since being on the show. So, that was it.<\/p>\n

David:
In case of emergency, break glass and pull out laminated-<\/p>\n

Rob:
Exactly.<\/p>\n

David:
That was pretty good.<\/p>\n

Rob:
Exactly.<\/p>\n

David:
Yeah. I\u2019ve actually thought a very similar thought, maybe six, seven years ago where I was like, you overthink things, right? I was buying in Phoenix. Are they going to run out of water? Should I not be buying in Phoenix? And then you start Googling Phoenix water supply and you get all these crazy conspiracy things about what the government\u2019s doing to stop the water. It\u2019s really hard to get information that you can rely on.
This is another one because while everything you said is true, Rob, it is also true. I don\u2019t know in the last a hundred years\u2026 Please don\u2019t quote me on this, I\u2019m not sure. I don\u2019t believe that population growth has ever been a concern. It\u2019s now starting to become a concern in many developed countries, population growth is not only slowing, it\u2019s going the wrong way. Okay?<\/p>\n

Rob:
Definitely.<\/p>\n

David:
So it\u2019s one thing to consider here. If we don\u2019t have as many babies, we\u2019re not going to need as many houses. And I think I love his last point. Is this a legitimate concern or are other forces at play strong enough to counter this effect? Because that is the question. Okay, there\u2019s opposing forces here, pros and cons, and you\u2019re trying to weigh which one of them is stronger. So I think population decreasing is a legit concern and threat to real estate wealth.
Now let\u2019s talk about the other side of that. First off, if we just stopped having babies completely right now, no babies were born. It would be like 25 years before that would act, that lag would hit us because you\u2019ve got all the one and two year olds that still need to grow. They\u2019re still going to need a place to live. So it\u2019s not like if babies stop being born immediately, we\u2019re in trouble. It\u2019s going to be a long time before it catches up with us.
So if the population does slow, this doesn\u2019t change tomorrow. In that much time, your property\u2019s probably almost paid off, which is going to reduce some of the threat right there. Another thing would be, when I was looking at this, I assumed that what a dollar was worth is what a dollar would always be worth, but that is a shifting target, too. As inflation continually makes money worth less, you need more of it to buy the same thing.
So in 30 years, if we do have population problems, well, how much have properties appreciated and how much has rent appreciated? And is that threat as significant, if your property is worth five times as much? So if you had to sell it for half of what it should be worth, it\u2019s still two and a half times more than what it is right now. It gets tricky when you start trying to work all of these things into the algorithm here. So with that information, Rob, does that change your perspective on this?<\/p>\n

Rob:
Well, first of all, I know that the population decreasing is a real problem in other countries. I don\u2019t know if that\u2019s the case in the United States. I don\u2019t know. So it is hard to really say. I think we have some time to figure that one out.<\/p>\n

David:
Good point.<\/p>\n

Rob:
I don\u2019t know if that\u2019s really a problem yet or I don\u2019t know if it\u2019ll really be a problem for, like you said, the next 10 to 15 years.<\/p>\n

David:
And then there\u2019s immigration, right? Are people going to keep coming to America from other countries, which would keep our population higher or is that going to change in 10 years and 20 years? Is America not a desirable place to come to? It is impossible to factor for all of those variables when you\u2019re trying to make this question. So I love the question itself, because this is something that I think about all the time, coming from Josh. Overall, I think that there are enough tailwinds making real estate desirable to combat the headwinds of possible population growth or less people needing homes in the future.
I think a more realistic threat would be like 3D housing. What if they figure out a way to just build houses for $20,000 or something like that? And now we\u2019ve got these homes that used to cost $500,000 to build or $200,000 to build, and you had to go through all this red tape and the city and the local municipalities made building incredibly hard and now people can just throw something up real quick, right? Assuming that this is something that\u2019s actually safe. It\u2019ll probably be a while before the technology goes there, but I\u2019ve thought about that. That could just saturate the market with rental supply.<\/p>\n

Rob:
That\u2019s interesting. Man, you know what would be a really good show, is if we researched theories for real estate like 50 years from now, like what some of the thought leaders in this space think? What would be the case?<\/p>\n

David:
Were worried about?<\/p>\n

Rob:
Yeah, like ownership of real estate on Mars or things like this or whatever. If you own homes on a beach or whatever, and just talk about some of the bigger, [inaudible 00:33:53], I don\u2019t know, questions that arise over, what does real estate look like in 50 to a hundred years?<\/p>\n

David:
That would be very interesting because we get to hear why they thought green shag carpet was a good idea. Maybe that was meant to combat a threat at the time, or they\u2019re like, one of the biggest threats to the real estate space is the open concept and we have to do everything we can to defeat that. So we\u2019re just going to put walls everywhere inside of our houses. And to their dismay, they found out that we just tore all those homes down and blasted it on House Hunters talking about how these closed concepts are terrible?<\/p>\n

Rob:
Yeah, well, I\u2019ve always talked about, I would love to have Elon Musk on the show. I think that would be the perfect person for it. So hey Elon, I know you\u2019re listening out there. Hit us up. Davidgreene24 on Instagram.<\/p>\n

David:
Oh, I\u2019m sure he is already following. I\u2019m sure. Probably from one of his burner accounts.<\/p>\n

Rob:
Probably.<\/p>\n

David:
Yeah. All right. Our last question here comes from Alyssa Horn in Alaska. By the way, I forgot to say on our previous question, are you screaming at your computer or your car right now saying, \u201cWhat are you guys talking about? You missed something.\u201d Let us know in the comments if on this whole, will real estate become a problem in the future because of population growth? Let us know if you think we missed something and what should be brought into the conversation here.<\/p>\n

Rob:
I love it. It\u2019s very interesting.<\/p>\n

David:
It\u2019s a fun thought process.<\/p>\n

Rob:
I\u2019ll ask ChatGPT tonight and I\u2019ll let you know. I\u2019ll text you the answer.<\/p>\n

David:
Rob knows how much I love that. All right, Alyssa says, \u201cHi, David. Thanks for taking the time to read this. My sister and I are looking at combined funds of the house hack a duplex in Anchorage, Alaska. However, we realize that the amount we could potentially charge for rent is greater than the amount we currently pay for rent in the place we currently live. Does it make more sense to continue renting and rent out the two sides of the property we buy? Mathematically, this seems like a no-brainer, but it also doesn\u2019t seem normal. Are we missing something? First, for more context, we\u2019re happy living in the place we rent, but want to work our way to financial freedom by building a real estate portfolio and obviously, people who rent don\u2019t have a portfolio. Thanks so much for helping two Alaskan sisters find their way to vacations and warmer climates.\u201d
All right. So here is how I understand Alyssa\u2019s question. So she wants to buy real estate and buying real estate, if she moved into it, would increase her housing expense because her rent is low. But if she keeps paying the low rent, she never owns a property. Her alternative to this dilemma is to buy an investment property, rent out all of the units, which it looks like this is a duplex that they\u2019re talking about. They\u2019ll make more money that way. But now, they\u2019re still renting out the property that they live in. They don\u2019t live in the house they\u2019re in. Now the downside to that is, they\u2019re going to put 20 or 25% down if it\u2019s an investment property versus 5% if it\u2019s a house hack. So we factor all of these questions together. Welcome to Seeing Greene. This is what we get to do every single week. What advice do you have for Alyssa and her sister?<\/p>\n

Rob:
I think you have to\u2026 It\u2019s rare. Okay, it\u2019s not rare, but it is common where rent is cheaper than mortgages. And so I had to do this, when I lived in LA, my rent was $1,850 for a 600 square foot home. I then was so tired of paying that much money to a landlord that I was like, \u201cI\u2019m going to buy a house. I don\u2019t care if that makes me a little bit more house poor, at least I own it. I\u2019m building equity.\u201d
So I bought a house and my mortgage was $4,400, which was more than double. Now with that house, there were some house hacking opportunities. I had a studio underneath. I ended up building that tiny house. We all know the story there, but I went into that understanding I was going to pay more for the homeownership. Fast forward to today, that house has doubled in value due to the beautiful thing called appreciation and I\u2019m very happy that I was house poor.<\/p>\n

David:
[inaudible 00:37:31]. Rent\u2019s gone up as well.<\/p>\n

Rob:
Rent has gone up. Yeah. So I\u2019m happy that I was house poor for all those years.<\/p>\n

David:
Yes.<\/p>\n

Rob:
It paid off in the end. It hurts now more because you\u2019re like, \u201cDang, I\u2019m not saving as much. I\u2019m spending more every month. It hurts more.\u201d But you are also getting principal pay down. Inversely, the landlord is getting the principal pay down in the other scenarios. So\u2026<\/p>\n

David:
I love how you brought this up so far. In the book I\u2019m working on right now, it\u2019s about all the ways you make money in real estate instead of just the cashflow. Okay? So there\u2019s this principle, when you look at something two dimensionally, certain things make sense. Why would I buy a house when renting is cheaper? I frequently get this when I go on other people\u2019s podcasts that are not real estate experts, right? So I\u2019m getting ready to go on Valuetainment. We\u2019re going to be talking with Patrick Bet-David\u2019s crew. They say this all the time, \u201cRenting is cheaper than owning. Why would anyone buy a house?\u201d It makes sense when you\u2019re looking at a snapshot, not a whole movie.
When you look at everything that real estate does to make money, it starts to change things. So her rent is less right now, but she doesn\u2019t control the rent. The landlord does. Maybe she has a really nice landlord. What happens if they sell the house, they pass away, someone else takes it over? They realize that they could be charging more. That changes very quickly. And during that period of time, housing might\u2019ve become more expensive. Also, in most markets, rent goes up every single year.
So though renting may be cheaper than owning right now, if you do five years of rent increases, it\u2019s often not cheaper than owning because when you buy a house, your mortgage gets locked in place. Now, consider house hacking. Not only are you not having your rent increased on you every year, but you are charging more to your tenants every year and now becomes twice as valuable, that rent increases are working in your favor to build your wealth. And you extend this over five years, 10 years, 15 years, it starts to become way cheaper to own than rent, especially when you\u2019re house [inaudible 00:39:18].
Now, we haven\u2019t thrown in principal reduction. We haven\u2019t thrown in potential tax advantages. We haven\u2019t thrown in what you just said, Rob, which was appreciation. All of these other things end up being even more impactful than just the rent, and it becomes a no-brainer that you should own. The thing I want to highlight here is that it rarely looks wise when you\u2019re just looking at right now. When you\u2019re looking at 10 years down the road, 15 years down the road, I don\u2019t know that I\u2019ve ever seen a scenario where renting is actually cheaper, unless it\u2019s like you\u2019re living with your mom and she\u2019s going to let you live for free or something like that. Does that change your take on this question?<\/p>\n

Rob:
Yeah, definitely. I would say ultimately, almost everyone looks like a genius, like a real estate genius if they hold onto property for 30 years.<\/p>\n

David:
Yeah.<\/p>\n

Rob:
Like I said, it might hurt now, but if you hold onto it for 30 years, people are going to be like, \u201cOh, my gosh. You bought a house in Los Angeles when it was $600,000. That\u2019s so cheap. I cannot believe that.\u201d And people will be mad at you, that you got into real estate 30 years earlier. You know what I mean?<\/p>\n

David:
But when you bought it at 600,000, did it feel cheap?<\/p>\n

Rob:
No. God no. I was scared to tell everybody.<\/p>\n

David:
And everyone was telling you that you were stupid, right?<\/p>\n

Rob:
Yeah. I was scared to tell my parents. I was scared to tell my coworkers because my coworkers knew kind of how much I made. They were my peers and they were like, \u201cYou can\u2019t afford that.\u201d And they just didn\u2019t know that I was like, \u201cWell, I\u2019m thinking about it. How can I afford it?\u201d<\/p>\n

David:
Yeah. You say, \u201cWell, I\u2019m going to rent out part of my house.\u201d Oh, I don\u2019t want to do that. That sounds like [inaudible 00:40:38]. I like my space.<\/p>\n

Rob:
No, I don\u2019t want that. I don\u2019t want to know my tenant. Yeah, it\u2019s all that whole thing.<\/p>\n

David:
You like your space. You also like being poor forever. If you can\u2019t afford to put money into a property, you got to put your comfortability and your convenience away, right? It\u2019s going to cost you something. So might as well cost comfort instead, if you don\u2019t have the money at the time. I remember you and I were heading to a real estate meetup when we were hanging out in LA to record at the Spotify Studios.
And we drove by a property that you pointed out in LA and you were like, \u201cThat house right there was\u2026 Hit the market, had been renovated.\u201d My wife and I looked at it and it was $1.1 million. And we said, \u201cThat is insane that those people think they will ever get that much money for that property, right?\u201d Fast forward with four or five years, is that about how long it\u2019s been? Okay, and what do you think it\u2019s worth now?<\/p>\n

Rob:
Oh, like 1.8, 1.9, maybe two, somewhere in there.<\/p>\n

David:
It was insane, but you were overpaying and then you go five years in the future and all of a sudden, if you could buy it for 1.1 right now, you\u2019d be walking into $700,000 of equity and tons of cashflow.<\/p>\n

Rob:
Yeah. And it was a little bit more like, \u201cIt\u2019s so expensive. I wish I could afford that someday.\u201d And then now, it\u2019s like, in retrospect, it was a good deal. Everything is a good deal in the past, right?<\/p>\n

David:
That\u2019s a great point and that\u2019s all we\u2019re trying to say, is try to exist outside of just this moment. Think about your whole life and where you\u2019re going to be in five or 10 years and factor it, that into your decision-making process. And if you got to sacrifice comfort or you got to have a little bit more housing than you wanted in order to own, but you\u2019re in a good area where rents are going to be increasing and you\u2019ve now taken control of your financial future and your housing expense, where you know the worst case scenario is, this is my mortgage and it can only get better from that?
I would rather see people do that than not have control and be at the mercy of a landlord or somebody else. Taking this long-term approach makes the most sense, which is why we are talking more and more about financial responsibility, playing defense, and making money in other ways outside of real estate, which is playing offense in business. Because when you have those two things going for you, you can use the delayed gratification approach with real estate and build a portfolio we\u2019re talking about.<\/p>\n

Rob:
Oh, one thing she said that people who rent, obviously don\u2019t have a portfolio. False. I\u2019m sure we\u2019ve said this already, but honestly, the people that I\u2019m proudest most in life of, are people who sacrifice short-term gain and continue renting and use the money they have to get into a rental property. And they sacrifice owning a house so that they can rent longer and build equity. I\u2019m always like, \u201cHey, that\u2019s actually pretty cool of you, that you did that.\u201d So don\u2019t feel bad if that\u2019s where you end up netting out, Alyssa.<\/p>\n

David:
All right. We hope you enjoyed today\u2019s show. We sure enjoyed having it with you all. If you did, please do me a favor. Leave us a review on wherever you listen to your favorite podcast and let us know what you like about the podcast so other people can find it, and leave us a comment on YouTube, telling us what you thought of today\u2019s show.
Hopefully we read your comment on a future episode and you will be supporting the show. Also, if you like to be featured here, we would love to have you. Head over to biggerpockets.com\/david, where you can leave your question for us to answer on a future episode. Rob, for people that were absolutely blown away by your insight, intelligence, sense of humor, and dashing good looks, where can they get more Rob?<\/p>\n

Rob:
You can find me on YouTube at Robuilt, R-O-B-U-I-L-T and Instagram @robuilt, if you want, short form real estate funnies. If you want long form real estate wackiness, go to YouTube. Up to you or do both.<\/p>\n

David:
There you go. I\u2019m there as well. You can find me @davidgreene24 on social media, David Greene Real Estate on YouTube or davidgreene24.com on the internet to find my webpage. Thanks again, everyone for joining us today. It\u2019s been our pleasure to be teaching you and instructing you and encouraging you in your real estate journey. I really hope that we were able to help some of you brain souls who took action to ask us questions and I look forward to answering more of your questions this year. This is David Greene for handsome Rob Abasolo. Signing off.<\/p>\n

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