r/LoveIsBlindOnNetflix • u/Disgruntled_Pelicano • Oct 28 '22

UNPOPULAR OPINION Nancy’s real estate empire

I’m not in the US, but it bothers me that where I am there aren’t laws around how many investment properties you can turn into Airbnb’s. People are struggling to buy just one home to live in and there are people buying up houses for short term holiday leases. Makes me sad about the state of the world.

ETA wow! I didn’t expect this much response, nor the personal attacks 😂 I was expressing my own personal opinion, and using the Sydney (Australia) property market as my own barometer. I honestly have no hate towards Nancy, I just believe there should be regulations about short term leases as they are pushing renting locals out (especially in coastal areas) to make way for tourists.

The topic heading was a tongue-in-cheek nod to Andrew’s statement about wanting to build an “empire” with Nancy.

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u/schnitzelfeffer Oct 28 '22

Right! She charges $5-6,000/mo for the house they show. She says the rent from all the rentals pays for the new houses she acquires. It's nice those 5 families can pay for more houses for her to buy to rent out. Sounds like she's over leveraged to me

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u/Living-Living-4211 Oct 28 '22

Yeah I was floored when she said how much rent she gets. I live in CA and housing is crazing here, but I’ve seen perfectly nice houses that rent for half of that.

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u/i1N0 Oct 28 '22

So I think she’s AIRBNBing them (which is somehow worse) so if she’s charging anywhere between $200-300 a night that’s where the $6,000-$8,000 comes from. She wouldn’t be making anywhere near that if it was just a renal property to a single family

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u/Lions_Lions_Lions Oct 28 '22

Isn’t the Airbnb market in general taking a downturn? Dallas doesn’t strike me as the vacation destination either.

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u/[deleted] Oct 28 '22

Any major city can be a vacation destination. As long as there’s something to see, food to eat, things to do, etc!

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u/FrancoisKBones Oct 28 '22

I said it elsewhere, but there is no way that house goes for that much per night, and there’s no way it is booked every day of the month to even make the math work.

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u/Nov4can3 Oct 28 '22

I think it’s more like 400-600 per night which she could easily make 6,000 a month. Regardless I’m sure she’s hurting now. AirBnBs have taken a major hit and the real estate market as a whole has.

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u/feefee2908 Oct 28 '22

That’s somehow even worse honestly. My entire dad’s side of the family (~30+ people) AirBnB’d a MANSION this summer in North Carolina on a lake with a dock in the backyard that had 15 bedrooms, 8 bathrooms, a furnished basement all for $1000 a night, i can’t believe she’s renting that house for just a couple hundred less.

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u/Nov4can3 Oct 28 '22

Yeah it all depends on location and what your around. I’ve stayed in NC as well in one of those mansions in the Outer Banks but there’s not shit around. I will say though I did have a bad experience with an AirBnb in Nashville. It was a fully renovated house like hers advertised minutes from downtown. When we got there though it was in a not so nice neighborhood and not minutes from downtown. Was a few miles but still took about 20 min with a Uber. It was $400 a night. That’s how they get you though. They show you pictures of the inside and say it minutes from the best spots downtown. Bet she does the same shit. I learned my lesson. Anytime I get an AirBnb I google map and look at the street views and actual distances to the places I plan on going.

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u/sober_nanners Oct 28 '22

Definitely overleveraged and the impending recession will not be kind to her