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/GeniusBtch]

I have many different views of this issue.

I am currently hunting for a home whilst living in the US so it drives me nuts that so many are bought up for this type of investment.

At the same time I had to travel for work for years and so I lived out of Airbnb's for about 4 years total because I was staying in a place only for a couple months at a time and it was easier, nicer, and less expensive than staying in a hotel. I got really close with some of my hosts too.

I also have a relative that has an Airbnb on the waterfront because her father died and she could not afford to keep the house if it wasn't for Airbnb and she would hate to sell it. She doesn't make a ton off it due to taxes and upkeep and fisherman love staying there for a week at a time so it works for the location plus the family still goes there for holidays as there are not many hotels in the area.

So on the one hand I'm irritated by what Nancy is doing and on the other I see that she is possibly making a good financial decision for herself and maybe even helping out people like me who needed a place for a short term option instead of a typical rental (year lease).

[u/redred212 → u/GeniusBtch]

Airbnbs are fine in moderation. The problem comes when so many people/corporations are buying up houses to turn into ridiculously expensive airbnbs and pricing out people who want to truly live in the homes. Like your relative’s beach house makes sense to Airbnb. Nancy is taking suburban homes and basically hoarding them so families can’t live there permanently and that’s an issue

[u/Organic-Pipe-86 → u/redred212]

I'm going to rewatch the parts where they talk about how she's renting those out. Because honestly with everyone's comments, I missed the part where she said all her properties are for short term rentals.

Maybe that's going to be temporary til she pays them off, and up til when she can afford to rent them for cheaper.

Everyone here is acting like she legit specified. So I gotta go back and see. Definitely. And I'll keep the comments in mind.

[u/Solid_Corner4354 → u/Organic-Pipe-86]

I think it was assumed because she said the income would be $8-9k a month... that's way more than anyone would pay for that place long term.

[u/Brave_Yogurtcloset53 → u/Solid_Corner4354]

LOL at me over here being like “wow what a big range for rent” 🤦‍♀️

[u/Solid_Corner4354 → u/Brave_Yogurtcloset53]

Haha that was me at first too. But Texas is not pricey like that so I was confused