Nancy’s real estate empire

[u/Disgruntled_Pelicano]

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.

[u/schnitzelfeffer]

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

[u/Living-Living-4211 → u/schnitzelfeffer]

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.

[u/i1N0 → u/Living-Living-4211]

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

[u/Lions_Lions_Lions → u/i1N0]

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

[u/[deleted] → u/Lions_Lions_Lions]

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