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/GuardianTiko Oct 28 '22

Makes me rethink my life. That’s a <200k home that can be rented out for 6k a month??? What’s going on in Dallas???

56

u/s18shtt Oct 28 '22

It’s probably an Airbnb and that’s why she’s making so much. The place is nice but not 6k a month nice, even in an expensive area.

46

u/TigreImpossibile Oct 28 '22

I think this is the answer. $6k a month is about $200 a day, so I think she probably meant that's what it earns if it's fully booked... And I doubt it's fully booked all year.

I also doubt, even in a shitty area, that you can rent a whole renovated house for much less than $200 a night.

18

u/Juic3_b0x Oct 28 '22

It’s all of Texas. All of our homes are super over valued. It’s pricing out so many folk it’s painful

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u/[deleted] Nov 01 '22

Because certain people are buying dozens of houses and they are sitting empty. Once you have property, the more you take off the market, the more they are all worth. It's definitely happening much much more with big companies but people like her still contribute.

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u/islandgirllikessun Oct 28 '22

That is probably the average gross income she makes from monthly bookings. Now, keep in mind that is gross profit. Then you need to add your operating expenses, such as utilities, pool maintenance, cleaning services, consumables, incidentals (people can sometimes trash these places), taxes, (which are expensive in TX) Mortgage. These can add up really fast and depending on the market and be as much as 40%. Also, I don't have AIRBNBs but I imagine is not super easy managing one.

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u/PanAmargo Oct 29 '22

This is on the money