저자: Kevin · 외국인
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Kevin과 Lauren은 하우스해크(부동산 스타트업) 사업 확장을 설명. 전용기 구매(월 약 76,000달러 대출 상환)를 통해 여러 도시를 방문하며 매물을 직접 평가하고, 지역 중개인과 관계를 쌓는 방식을 강조. 에어비앤비 버블 및 신규 택지 개발에 따른 임대 수요 위험도 언급. 자산 가격 방향에 대한 구체적 예측 발언은 없음.
다듬은 글
hey everyone me Kevin here and meet Lauren hi it's been a minute since Lauren has been on YouTube and we're bringing her back today to confront Lauren on a lot of questions that you all have had and first of all Lauren what have you to say for yourself where have you been I think that's the biggest question is where has Lauren been I've just been hanging out being a mom yeah so I don't know I kind of stopped because I feel like my content maybe wasn't so interesting um as you know a stay-at-home mom so that's kind of why I step back I'm also trying to get pregnant as it was when we last or when I last had a video so I feel like still trying yeah still trying it'll happen one day I think people would love to see you like the behind the scenes of Lauren behind the scenes of what it's actually like with two children and what you do on a daily basis and even just your thoughts on design I think I mean I I think you've got great opinions yeah I mean that kind of was what it was initially was the behind the scenes aspect of my life and I'm your wife and you know raising the kids while you're working and then you come home and then we get together and we're a family but I felt like it kind of got repetitive so I mean unless I had some type of big subject uh moments to incorporate I don't know I don't know that was kind of generally what I was thinking that's why I stopped so you're saying you were lacking clickbait yeah I mean I used your name as best as I could but I mean I can only do that so much so one big thing that also comes up is a people saw that you also signed on the debt for this plane that now we have yeah how do you feel about how did how did you remotely think this was okay well um it's been a thought for a while in your mind and last year not yours that's pretty clear it's been help him last year you you wanted it too and I I know you've said this like a broken record but it's it's definitely for a business purpose it's not at all for leisure or vacations not that we wouldn't do that too but it's it's for business and last year when you had talked about it it didn't make sense at the time even still it scares me a lot but I will say that this was an opportunity this year to uh you know kind of just go for it um I kind of told you just as when you were starting out in real estate you know you kind of have to spend money to make money and you made a few pretty big purchases in the beginning that were it was a lot of money to us uh buying a few Hugo Boss suits and I kind of think this is the same thing to scale if you want to slingshot yourself into a different category or caliber you have to make a big move sometimes and I I feel like this was a much more appropriate time to do so so I did sign off of it or I said yes and I yeah not that you wouldn't have done it anyway but I mean I was supportive at least this time it made more sense look your opinions are super valuable to me and it's so interesting that you bring up the Hugo Boss suits because now we've got just a wardrobe of those but you're right when we were saving up money working at Red Robin and Mrs Fields and Jamba Juice before that you know an 1100 suit at the time that was huge that was like that was a lot of our money was going into oh it's a suit and so there was always this argument about well why get a Hugo Boss so why not go get like a Nordstrom Rack one or whatever not that there's anything wrong with with Nordstrom Rack right but uh it was that it was uh buying the brand new Prius and wrapping it it was doing a TV commercial with a lot of our net worth at the time we spent a ton of money on a TV commercial yeah and I will say like a lot of people were trying to discourage us uh and you you know specifically with these purchases because especially in Southern California the Realtors here they don't have this standard of needing to dress like you're on Wall Street with nice suits and everything like that a lot of people are in jeans in a nice you know colored shirt or whatever it may be and that is totally fine but to you know make an impression and you know maybe Excel a bit further I feel like sometimes these purchases are quite necessary yeah and and I think one of the differences too about you had sort of touched on it this we weren't ready last year with with a plane was that we look at our travel in 2022 and sure we went on family trips but how much business travel did we do not much nominal nominal business travel like it was strictly this is just business uh I think this year it's going to be completely the opposite oh you got a full schedule like every week it's going to be insane and I think it's going to be fun and it's going to be great for uh everybody the content I think is going to be amazing and very educational I think it's generally going to be really amazing and awesome yeah I think it's wild I think last year we had maybe five trips where sure we conducted business as well as went to family destinations but this year we're probably looking at somewhere around 200 days of flying yeah if what we found was if we wanted to go to as many different City as possible for househack to find the best areas at the best opportune times we had to get educated really really fast for housing the last thing we want to do is spend five years I think trying to figure out oh where do we want to buy or worst case go too fast and buy somewhere that's not appropriate right and be in a situation where well the market bottom was then yeah yeah there has to be basically studying for a test in a sense is you need to be prepared for when you want to actually have your test which is when you want to buy in this scenario and when you pull the trigger in buying these houses for house hack you need to be really educated on these markets and the different areas and that's what all this is so it's it's all education prepping ourselves for pulling the trigger now we're going to be vlogging that experience when we'll be posting it here on the channel as well you were actually with us on our first flight I was yes I am feeling a lot of people are going to be asking for you to be on all of the flights can we get you on all of the flights right here can we get a I know I mean that's the thing I actually would love to be involved more with the the weekday flights but the problem is is that I have to pick up my kids from school and and deal with homework and all the the things related to kids I can't sacrifice a big day or multiple days doing that I don't want to be away from them so much maybe a random one here there so it might be like a lucky few that I go during the weekday now that is also based on the original schedule that we have now which is uh generally the beautiful thing about this plane is it's going to enable us for a relatively low variable cost about 1500 bucks a flight hour which if we fill up the plane could work out to as low as like 300 bucks a ticket kind of incredible if you think about that round trip for an hour destination away here at Arizona and back variable cost 300 bucks that's remarkable really really neat but the current schedule we have is uh 11 to 7 which that's not too conducive for the kids no so I think one of the things that might be able to get you on more flights and I want your opinion obviously on it is if if we maybe move that up and maybe what if we took off at 10 and we were back at 3 right and then with the people who were shadowing us we showed them the podcast Studio the Blackboard Studio we we had a barbecue with them here so that way we had a mix of both we had the people who were shadowing us coming to our destination flying with us we land in Oxnard it's 15 minutes away and we come hang out at the studio but that could potentially enable you to come with us more am I right but you're definitely right I actually would be very interested in coming on more flights if that were the case I have to pick up my younger son at uh 1 30 and my older one at 2 40 I think it is so if I had my parents as an example pick them up and just hang out for you know a couple hours and then I I'm back in a timely manner I think that's definitely doable and I'd love to help I think the last trip was really fun and I learned a lot tell us about it we went to Gilbert Arizona which I had never heard of before didn't look up anything about it basically just went into it thinking like um it's probably going to be like just you know you're pretty negative about it I was like I don't know I don't want to seem like a negative person but I just self-admittedly I didn't know anything about it and I just kind of thought like oh it's probably just going to be an average city I was blown away that was an amazing City I was mostly uh very impressed by how family friendly this city was which I think is really really important so I really liked it you know you get a lot of people I've noticed online who say things like Okay Kevin I get it you're gonna do your YouTube stuff in the morning and your ETF stuff in the morning and then in the afternoon you're going to fly for Real Estate but but why Fly For Real Estate you could just have somebody send you matterport links and you could just zoom with people you know resume real estate agents you know let them FaceTime you around what's your response to that I think you really need to be there I mean obviously having matterport's helps to some some degree that does help but actually actively being in the city going to the neighborhoods feeling or like the parks and how they feel so you know family friend friendly the kids going around even going from one block to another me scene and difference of oh it got like noticeably less good in this little pocket area and then oh it's back to good again those are things that you can't actually get from a matterport you physically have to be there it was really incredible I mean there were some areas all of a sudden I actually went down the wrong Street uh I made the wrong turn yeah we decided I'm not allowed to drive anymore which is probably better anyway uh but we end up in this neighborhood and there are all these man-made Lakes they literally have doc homes yeah I'm like I thought this was just desert yeah yeah and they like put fish in the lakes for a recreational activity for the people who live with the dock homes and like that's brilliant like it's incredible and I mean uh but then you would also you'd go from Like a downtown area like downtown Chandler versus downtown Gilbert some real differences in terms of the area right around the downtown which is actually really important because we learned that the best place for airbnbs are close to downtown and that Gilbert might have an edge over Chandler however you've got this potential Airbnb bubble if we actually walk into a recession here what's your take on that this potential of maybe I mean does it make sense that people would go to less airbnbs if hotels were let's say discounting prices and then what if people uh over you know went into buying real estate deals with too high of an expectation of what they could get in terms of rent I mean the problems are Airbnb specifically yeah we're both or long-term I mean imagine somebody goes in and this is my sort of a thesis I have imagine somebody says I'm going to buy a 600 000 house in Gilbert Arizona and I would maybe uh I'm gonna put five percent down or ten percent down or whatever I'll live there for a year they move out then they're like oh I'll Airbnb it uh now they look at Airbnb and they say oh I'm cash flowing a couple thousand bucks a month whatever the numbers might be but if Airbnb dries up they might have to turn it into a long-term rental and then they look and go oh crap I'm negative cash flow because my loan is too large or my rate is too high I need to sell it and the demand for the airbnbs are no longer a thing so that yeah yeah I mean that'd be a problem I I'm worried about that happening so that's one of the things when we're looking we're trying to make sure we don't end up buying in areas or buying types of properties that are still walking into a bubble we've really got to find the bottom yeah I don't think you could do that over Zoom what about you no I don't think you can and I think that there are different scenarios that could create a problem what you had just said about uh there being a bubble and it affecting the Airbnb uh cash flow I also think um this kind of a different city topic but I think it's important to note is that you know you look at Las Vegas or you look at Summerlin and you have an aspect of oh I could buy this and get this house and have this cash flow like this but then they build a new development and then it just completely like you know that's that's gone and done with and now everyone moves to that one and is like what do you do with this property that I have nobody wants because they want the new one because there's constantly uh you know flow of new properties being built so different things in a certain city could affect the market as we all know um so yeah you just have to watch out for those things yeah I did think that was interesting we're by no means Vegas real estate experts but one of the things we did see is Henderson used to be the family go-to area and then it became Summerlin what if now we're going to build another Community there's just so much land and it's just that's I think more the culture there is like let's have the new hot thing and I don't see that so much in Gilbert I really see this community feel that once you kind of get grounded you want to stay and there's not so much the expansion of the new city and the new hot things yeah and now keep in mind we've only been there once to Gilbert so these are just initial Impressions that we have and this was our first stop so we're looking at going from here to another 150 cities so our thoughts are probably going to evolve a lot yeah but I think we can say with certainty Gilbert's one we're going to be coming back to yeah and that's the thing you know we get a good feeling about one that's not the one time we're going to be there you have to continually educate yourself every time you go there you'll probably find a handful of new things that were not seen before so it's important to go back to those cities that you think are special I'm a a big fan of regularly being a local when it comes to real estate even when you finally do end up buying somewhere you want people to know you're always there for example if let's say we ended up deciding to buy uh in in Summerlin let's say we got convinced we're like we're going to buy in Summerlin and in Gilbert we're going to buy both of those we think we can get good deals in those areas then what we'll probably do is uh be there on a weekly basis going to the realtor broker tours going to the open houses going to uh see the new listings on the market every single week so that way a it's easy for us to get there and be back with family and have our barbecue at our podcast Studio or whatever but then also the agents know oh they're local yeah they're not all Foreigner they are here they've got an office here an outpost here we want to do business with them because they're looking and we personally know how important that is to have these good relationships with the local agents uh as you know we were both Realtors we went to the Caravans we're but anyway we went to those weekly and you get to know the agents and you get to know the area even better you get to know kind of you know more secretive things like oh you wouldn't want to go there because blah blah blah like oh this actually happened to my buyer I didn't even know that about this complex because you know my buyer went through those are where you hear the details that you wouldn't ordinarily know or hear about oh all the time I mean you you go through a broker to go oh I hate you know I see you here every week and just you know that neighborhood over there that street and that street they took the uh rebar out of the foundation when they went to build them but the other side of the street is good it's that kind of local knowledge you're not getting on a zoom call you're not getting on matterport there's a reason in my opinion you get Invitation Homes and BlackRock that they get a bunch of money and they just park it in real estate buying deals the way they are they'd all fix them up they're not hand selecting wedge deals they're just like all right we got all this money we gotta allocate 50 mil to that market 50 mil of that market 50mm it's very different from what what we plan to do with househack which is really hand selecting the best of the best yes we're excited about that I'm excited about it yeah you're going to get to train a lot of our local property managers that we have there uh that's our current construction and property management team when they relocate uh or start servicing different areas whether they're traveling or hiring people locally you're going to be doing a lot of training how do you feel about that I am excited to help I definitely need to back my mind like think if I have a baby but you know I'm going but I then I'll just step in more yeah yeah I do want to help um I would love to contribute yeah I think you're going to be awesome you're going to be a great part so Lauren initially we were pretty nervous about the whole plane idea because we're doing our budgeting we're like oh yeah we we can make this work uh even in sort of a worst case scenario but it'll be more tight and I think that left you initially a little bit more nervous we ended up still making the decision based on that so we decided to buy the plane and finance the plane which is like a 76 000 a month payment just for the loan on the play right we decided to go for that before we even had this new idea that took a lot of your nervousness away and I don't know if you were super nervous I mean you were obviously not nervous enough to say don't do it obviously optimistic enough to say yes but what was this new idea that got you so excited to where now you're you have no nervousness left almost yeah um well let me just say that I I do think that and this isn't any correlation to me having hope in the business or How likely I am to think it's going to succeed because I really do believe that it it will but I'm I was about like 70 nervous I'm generally more nervous than not 70 nervous I'm a big Warrior this is um a big cost and it scared me a lot but again that didn't correlate to me thinking that there wouldn't be success it just it's scary it's a big purchase but I will say implementing the shadowing um aspect of it made me feel a lot more secure about this financial uh you know big big thing coming in yeah and I think it's it's worth noting that uh house hack our real estate startup isn't buying this plane we are right we are signing on it we are taking the the liability on it uh so we have so much faith in our three businesses that even with Lauren's 70 nervousness correct me if I'm wrong but yeah but even with that you're like yeah the the potential we have in these businesses is such that it is worth this substantial personal risk that we're taking yeah to go forward yeah but now what you're saying is you're you're so you're willing then but now your nervousness has relaxed a bit because it seems like it 20 now oh wow yeah that's maybe just me inherently being nervous I don't know no I mean that's that's a big difference though yeah yeah I was like like getting sleepless nights regularly because it was scaring me a lot yeah well hey you know what that's that's what happens when you take that entrepreneurial risk and yeah and you're on the boat with me so tell people what what is this shadowing thing we're doing so basically the shadowing uh thing is where you are given an opportunity to uh go along on a Day's Journey to a particular real estate area and Shadow Kevin and the team and kind of get a feel as to what's going on ask him questions make you know little videos with him whatever you want to do to get knowledge or or whatever your you know motivation for doing that is that's your opportunity to do so to come on board and and join us for a day yeah so basically there's a link down below where you can sign up and join and Shadow me for a day so you'll come to California you'll come to uh the Oxnard airport and we'll fly out of there you don't decide what the destination is we'll we sort of have a preset itinerary of where we're going what we're coordinating with agents some flights could be as short as 15 minutes some flights could be as long as two or three hours but either way you're buying the opportunity to Shadow me for the whole day so if we're going somewhere that's short we might spend more time at the destination we might spend more or less time on the plane but the goal is we'll meet at the airport we'll fly somewhere we'll look at real estate together then we'll potentially whether we have dinner there or not we might come back to the studio and explore the studio have a barbecue here that sort of depends we don't know which interns or which staff or which researchers or whether Lauren's going to be there or not we're not clear on that per day since I think we kind of make those decisions more last minute but uh yeah I think it's going to be a really interesting experience for people to Shadow us the neat thing is there's a lot of downtime because you are sitting on a plane for a while you are driving in cars to different destinations for Real Estate so that's pretty fun and we'll have a great opportunity to uh to catch up about anything uh Finance or stocks yeah I think that's important to note too because even though we are looking at real estate if you have a different interest that you want to talk to Kevin about like like you said there's down time to talk about those things obviously if you're interested in real estate this is you know Prime opportunity but you could have any reason why you wanted to join yeah and and so going also back to Lauren's nervousness I I think it's fascinating to look at the numbers uh for us the plane is probably something that runs about two hundred thousand dollars per month is is the way we're looking at you know 76 of that is about the mortgage and then about 124 is pilot salaries hangers Insurance maintenance hourly costs gas whatever Wi-Fi Wi-Fi Wi-Fi at that like with a data cap is five grand a month that's great can you imagine paying five grand a month just for Wi-Fi and it's plain Wi-Fi too they say it's 5G but come on it's just playing 5G uh Hey more opportunity to talk then maybe that's a not a bad thing right we need starlink that way we can live stream from the oh yeah we're gonna look at the sticks live streaming yeah but then they're gonna charge us even more but uh the point of that is uh just to just to break even I mean if if people are shadowing for a cost just to make the numbers easy a 4K let's say uh we're looking at just for for Break Even purposes what is that that's 25 times two that's that's 50.
50 shadowers have to come with us to break even every single month yeah that's per month yeah there aren't that many days in a month I know well you'll be flying a lot yeah we'll be flying a lot yeah so uh fascinating okay so we talked plane we talked Gilbert a little bit uh what do you think about uh my latest schedule this idea that I have of filming more in the morning and then trying to escape the studio which I never really did during covid but escape the studio like we did yesterday where it's hey no no anxiety to make videos it's the phones are off the phones are away yeah and we get to go do something with the family and the kids or whatever yeah I mean I think it's it's great I think that it's always continually been a thing of figuring out balance with you uh working hard it's working a lot is in Kevin's nature and I respect it that's awesome not everyone's like that but I do think that this new plan can incorporate a good amount of balance so I'm optimistic about it and it's wild because we're doing so much more not only is it now YouTube videos but then it's ETF it's a lot of wonderful people that are working with us now helping yeah it's flying it's the real estate startup people are wondering how how do you balance it at all yeah yeah there's just not enough hours in the day right yeah it it has always felt that way I think this new schedule of only doing my videos in the morning from 4 AM to about 8 30 in the morning is so good because it frees me up to where the rest of the day I could just focus on working with people that's research that's traveling for real estate and talking to folks with our shadows whatever but that's really good because one thing that I noticed and I'd love you to chime in on that is when I was always thinking about making videos there was always this like underlying sense of anxiety like uh should I go step aside and go make a video you know you're at like Disney World and you could sense that demeanor with him too even even if he wasn't vocalizing it so if you have that card cut off I think that's a good thing I think so because give me an example like is it like a Disneyland oh there he is going filming again yeah yeah like oh before we go on this ride like you guys just go get a snack and I'm gonna film in this corner it's like I'm not hungry but okay or it's just you know the scrolling during the lines or whatever of researching and what else are you gonna do talk oh um but it's just stuff like that and I'm very very forgiving of it I've always said to Kevin that I will be the most forgiving person of him working hard because I know he has to do it it's something in his mind he has to do it as long as the the workload doesn't affect you being mean or unkind or or something like that which you're very very good about being kind so yeah yeah I I have personally noticed that when I have that hard cut off and I tell myself so I mean even today there's this there's a piece of content uh I'm getting just excited and anxious about it thinking about it right now like oh I gotta make a video on that it decides it's gonna be a great video it's gonna be a one out of ten which is like a way of YouTube saying like it's a good video right uh it's your best one out of the last 10 videos is how that rank works and uh so I'm excited to make that but I've told myself no no I didn't get it done by 8 30.
so what am I going to do that'll be the first thing I film at 4am yeah I have more content for the next next morning now you will Implement some breaking news here or there I'm assuming oh gosh yeah I mean don't get me wrong if if there's live breaking news or whatever then but then I've told myself how I'll I can only do it if I go live okay so so that way it's not that prep work the pressure of a recorded video is very different from live yeah because with live you just you roll with it when when when stuff isn't working it's like ah excuse me sorry this is messing up or whatever you just fix it really quick and keep going people are forgiving of that yeah with a prep video which one thing goes wrong all of a sudden you're like ah start the whole video over you know you actually can't do live stream so you kind of roll with the punches a bit uh more uh really you're talking title thumbnail in your life there's no upload placing the ads the cars the description the tags you can even have your wife like sneak in a plate of food or some coffee here or there if you ever see a random hand that's me you've done that so many times I know yeah no I don't think I'll even forget ever the Jan six riots oh man yeah two years ago was that a 10 hour live stream that was a long one yeah 10 hours of of uh just sitting there I mean Lauren's bringing the bedpan back and forth oh gosh yeah diapers yeah no and you know what every time I do that I am still shocked to this day and knock on wood that it won't happen but I open the doors and I'm just crossing my fingers and I tell the kids like hey be quiet I'm good he's live streaming I'm gonna deliver this food or whatever but you know kids mom or whatever it's yet to happen so that's good but if it does you know whatever yeah it is what it is yeah and usually when I hear the door I'm already like so uh okay so uh you have the balance has I don't really know that word what that means yeah yeah so we have trying your best H and Megan yeah oh gosh I don't know why that rubs me the wrong way that they refer to him as H but okay it's weird we're only like 20 minutes yeah yeah kind of wild I will say we uh yesterday downloaded uh Elden ring and uh we I think we played what maybe eight minutes of it yeah I didn't like it no I didn't like it either yeah we're like I know it's really popular let's go watch H instead and then we just fell asleep yeah what's wrong with us I don't know maybe we need to get a nice shot I don't know another shot of of tequila to like prep to play that game yeah no now we want to play um crap what is it called the Grand Theft Auto yeah that's always a good one yeah uh oh I got a notification this morning that actually finished down oh okay I don't know what it is but you go to we have we have an Xbox and Playstation we haven't played virtually but 10 minutes on either of the systems that have been sitting there for six months we also have DDR which we haven't even unboxed I was a really good DDR player in Middle School my older brother he's four years older than I am I would play all the games that he would play and he got obsessed with DDR so I naturally did too I get I was like acing the heavy modes I'm really excited to do it now I'm definitely like much more out of shape but it's a good workout so that'll get you in shape yeah the PS2 we got off eBay yeah actually turns on I love that game so they gave me the memory card for the PS2 it's like this big and it's eight megabytes or megabits it's like sad yeah anyway so what uh okay now I want to talk personally uh why uh okay last year I said that if in the next three weeks Tesla goes pre-split to 750 per share that uh we would buy a new house yeah and it did it went to like 770 and then it's been straight down since then yeah but literally the goal I made of this like 80 price jump it was some like outrageous claim that in three weeks it would go up 14 and it literally did uh of course again down since then but uh where's that house Lauren uh I wish actually it happened the problem is is we have a select few that we're interested in and we did go house hunting we did go house hunting and we're actively trying to talk to people the houses weren't for sale we just really really want these specific houses and everyone said no and then um that was about that's that yeah so but well I think it was yeah it was around this time uh no it was this was April of 21.
yeah we've got to be clear about that not April of 22 that was April of 21 because then what happened is everybody said no April of 201 then we got to the because it's been a while since you've made videos so we're doing some years of catch up here that's crazy it's 20 23. then we get into the end of 2021 beginning of 22 and we're like no no the real estate Market's about to dump yeah we sold our real estate yeah and one of them called us hey we're ready to sell that what did we tell them yeah well also too let me yeah we said no but the thing was why I wanted a different house so badly is because we were getting so many people coming to our home and it was very intrusive and it was scaring me so that's luckily died down a lot since you know the governor thing is over that was I think peak time when it was really happening a lot and so um yeah then kind of things changed it kind of actually worked out in our benefit that we weren't able to buy a house during that time and now we say there's one house only one that if even if it's a bad Market there's one it's like the dream house I don't know if even with the bad Market maybe not but like gosh that would that would be the one that's enticing to where we'd have to like stop and have a discussion about think about it yeah so what okay let's go back to the beginning of 2022 we're upstairs in the master bedroom naked of course always naked yes I walk up to you and I say we gotta sell all of our homes we're even gonna sell our own home and rent it back oh what did you say to that well uh we talked a bit about the reasons why you wanted to do that I said no matter what though I am against the idea of selling our own home I don't want to be a tenant uh to the home that we've established and we've owned for many many years now I don't want to revert back to that but basically with everything that you had said to me that night I thought it made sense and I'm really happy that we both went through with that because it was a good decision we've always been of the mindset that it's much better to buy real estate and wait and just just hold it through no matter what the market Cycles are we had a very very unique set of circumstances where we saw the macro cycle changing substantially in in January and we decided almost overnight yeah to sell all of our real estate yeah and so we sold all of our real estate uh our closings were all between March and I want to say may Yeah by by the beginning of June about the first week of June we were done selling all of our properties we had at the time 22 rental properties and five that were not rentals so that meant with units some of our we probably had somewhere around 26 27 tenants all in Southern California Coastline real estate so it was it was a big portfolio yeah it was somewhere around 20 25 million dollar portfolio of real estate properties and we sold all that quickly yeah which a lot of folks say well wait a minute now you're going to be subject to these these capital gains uh but we also knew that there was a potential that wait a minute we might at the end of the year personally like us taking the liability right by a plane that can now offset some of our capital gains so that's a unique circumstance that was a unique circumstance that was a huge factor in me feeling like the plain purchase was a good idea right because now we don't have those capital gains to worry about because you can completely write off a plane uh on top of that we we also want uh to make sure that there's no impression that anybody thinks we are competing with our real estate startup for rental properties so if we had our own rental properties uh and then let's say a fixer-upper comes up we didn't want anybody to think oh Kevin and Lauren are going to buy the best for their own portfolio and then give the second pickings to house hack yeah so now we are in a position where our only real estate investment for the time being in Into the Future here is is going to be house hacked aside from family property so that would be the house my dad lives in our own property and then the one we use we're filming out of now yeah yeah and yeah we said we hope to be done personally with rentals uh under you know our own family we would like to put everything in house hack yeah so in other words we will not be landlords ourselves anymore but obviously we'll be operating landboards for houses for the company bringing all of our experience over there which is kind of exciting I mean how does it feel not to be a landlord your last nine months you know you've been waiting for house hack but you know I know you've been doing a lot of thinking for house hack I know you're sitting there three hours a day just just plotting for house hack yeah how's it what's it been like not getting all those tenant phone calls you know honestly me having had all the tenants it really I had such a Groove and a flow in a certain kind of set thing that I did with every tenant in every property it was a smooth sailing ship so I will say obviously I don't have a workload of making contracts or anything like that but relatively like the phone calls and the emails they were they're pretty nominal and um so yeah I mean obviously now it's nothing so it's it's a difference but how many hours a week realistically uh it sounds like it's pretty low uh do you think you actually worked for property management for 26 tenants was there a re-rental or no no no assuming no re-rental I'll explain the difference in a moment just regular day-to-day average hours per week gosh I mean I'd say maybe like 30 minutes a day 30 minutes a day that's it that's it so you're managing 26 units with 30 minutes a day yeah yeah so if you wanted to work uh let's say an eight hour shift in Property Management you could have 16 x the units you could have had 200 tenants yeah and worked a full-time job and yeah it needs to be clarified though that this is a a certain basically formula that we've created to allow us to have such a smooth sailing ship uh you could hear from other property managers that it's quite different but you know we had certain standards that we really really wanted to implement so I think that all kind of played a role in why it was so little per day yeah an example of that to clarify yeah I could an example of that is you uh what we do is we don't just buy properties and then rent them out we're and then a lot of landlords do that and we're not saying that's a bad strategy but a lot of people will buy a home and they've got so much Capital that they've got to put into the deal for their down payment that they they don't really want to spend money on fixing up the property and that's not necessarily a bad thing you just rent it out and then the theory is I'll just fix stuff when it breaks we never had that thesis every single property of ours we would buy we would generally buy properties that needed work and needed some love and then we would fix them up to uh I would say a very well above rental grade standards our properties were not by any means rental grade they were they were very very nice very nice properties uh they all had consistent flooring consistent cabinets consistent pain it was all the same formula so it was very easy to keep these up same appliances everything and we would make sure that when since we had such a good product we chose the best tenants to fit those that product yeah and it really made the workload aside from re-rentals what Lauren's talking about with re-rentals is somebody has to move yeah and then we've got some problems right we've got to show the property we gotta you know give uh uh do inspection contracts yeah arrange for a fix up or whatever inspections that that definitely UPS the workload you know everyone you know so you have one then two and it's in three it just like you know gets more and more per day yeah if you've got multiple rent re-rentals exactly it's like okay then now you start maybe now you're maybe working a couple hours a day instead of just 30 minutes a day but that was even far and few between and that's the great thing too with this formula is people want to stay you know we create uh this product that is so desirable and so nice and we also have it at a rental price that is not extremely unfair we are also not the type which I know a lot of other landlords do this after the first year they get you in at a you know a decent Market rent and then they just up it to the max amount and then people feel trapped and that upsets them it creates bad relationships with the landlord and the tenants it's just generally a bad feeling so we really wanted to have uh you know generally good product and respect the tenants um yeah so in our belief you can have a win-win landlord-tenant relationship where the tenant feels like they're winning the landlord feels like they're winning everybody wins the the adversarial nature of landlord tenancy we don't think is necessary and it's not a model that we uh partake in so we're we're pretty excited about uh the future of househag um and uh and bringing all of our formulas uh to house hack one last thing I want to touch on is Lauren what do you think I mean I hear it all the time people say oh but Kevin now if you're going to try to do single family at scale you're not going to be able to find enough wedge deals what's your response to that I think there are always wedge deals um I think that'll I will say that a lot of them just get snatched up super quickly but I think that that's where our expertise comes into play and being so we snatch them up and being involved again in the local community of Realtors because they give you those pocket Deals they get to know you it's like oh he's so desirable to work with he was so easy I would rather choose him and even you know tell my my client hey he's offering whatever five grand less but he is so easy to work with and he he does everything to make it as smooth as smooth as possible and that's how we got a lot of our deals so well I mean we would be able to go to Sellers and say we will close this deal but that's one thing when a buyer says that it was another thing when the agent was able to tell their sellers yeah they do close their deals I've done like three deals with this guy I mean he always does so easy yeah whereas you could have a different person that maybe offers more but then they're out of the area out of the area they get all fussy about inspections or whatever it may be it could be a prolonged process it could just be a nightmare versus it being very easy right and that's why we found it so important to make sure that when we do diversify to the markets we pick that we are in those markets regularly every week uh and and I can't do that and have a family life and run a YouTube channel and be able to do my live CPI or fed Reserve streams without El Plano that's the thing yeah so uh we do think that'll give us a substantial competitive Advantage for for what we're creating if anybody's interested in learning more about house hack the solicitation is at househack.com this video is not a solicitation that is uh but uh I I really want to ask you if you can leave a comment down below make sure you remind Lauren to either go post on meet Lauren and come back or do this more so leave a comment Down Below on that Lauren any final thoughts it was nice talking with you this is fun I I enjoyed it so um yeah if you have any questions about anything that you'd like to see us talk about I'm happy to do this again all right perfect what about the wallpaper I think it's cool we're a little zoomed in right now like almost kind of right up his nose it's right under his nostrils all right that's Ben Franklin for you back there bye
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