WEBVTT 00:00:00.110 --> 00:00:03.370 There are so many rental investment strategies 00:00:03.370 --> 00:00:05.790 out there. There's long -term rentals, medium 00:00:05.790 --> 00:00:08.449 -term rentals, short -term rentals, rent by the 00:00:08.449 --> 00:00:11.269 room, co -living. It's a wonder that anybody 00:00:11.269 --> 00:00:14.890 is able to pick one and focus on one because, 00:00:14.970 --> 00:00:18.329 hey, let's get this straight. It's just there's 00:00:18.329 --> 00:00:20.640 a lot of ways to invest. and a lot of ways to 00:00:20.640 --> 00:00:22.640 do it. And today I'm going to talk about the 00:00:22.640 --> 00:00:24.699 pros and cons of each of these strategies and 00:00:24.699 --> 00:00:27.399 give you a little bit of an overview so you can 00:00:27.399 --> 00:00:29.300 make the best decision that's going to work for 00:00:29.300 --> 00:00:32.649 your investment. So if we haven't met, my name 00:00:32.649 --> 00:00:34.869 is Doug Varenas. I'm a licensed real estate agent 00:00:34.869 --> 00:00:37.869 in Oregon and Washington and an accredited investor. 00:00:38.350 --> 00:00:41.429 If you're interested in investing in the Portland 00:00:41.429 --> 00:00:44.189 metro area or you're interested in investing 00:00:44.189 --> 00:00:47.549 out of state, I'm currently offering free consultation 00:00:47.549 --> 00:00:51.549 for out of state investors looking in affordable 00:00:51.549 --> 00:00:54.350 markets that have favorable regulatory environments. 00:00:54.689 --> 00:00:57.670 And I can help you go through that entire process 00:00:57.670 --> 00:01:01.390 from locating a property. to getting a team that's 00:01:01.390 --> 00:01:03.789 going to help you from a real estate agent, property 00:01:03.789 --> 00:01:06.390 manager, vendors, etc. So if you're interested 00:01:06.390 --> 00:01:08.849 in that, click the link in the description to 00:01:08.849 --> 00:01:11.150 schedule a brief chat with me, or you can post 00:01:11.150 --> 00:01:12.569 something in the comments and I'll get back to 00:01:12.569 --> 00:01:15.030 you. Investing in real estate. It can be very 00:01:15.030 --> 00:01:17.189 complicated. It can be very overwhelming. There's 00:01:17.189 --> 00:01:19.370 a lot of different strategies. So today I'm going 00:01:19.370 --> 00:01:22.290 to go over these strategies and give you the 00:01:22.290 --> 00:01:24.930 pros and cons and hopefully give you some clarity 00:01:24.930 --> 00:01:27.390 on what's going to work best for you. So first 00:01:27.390 --> 00:01:29.930 strategy we're going to go over is long -term 00:01:29.930 --> 00:01:32.790 rental. And this is what most people think about 00:01:32.790 --> 00:01:35.230 when they think about investment properties and 00:01:35.230 --> 00:01:39.230 renting. So this is going to be your 12 -month 00:01:39.230 --> 00:01:42.250 or more lease where you have a tenant move in, 00:01:42.310 --> 00:01:44.629 they're moving into an empty house, they move 00:01:44.629 --> 00:01:46.849 all their stuff in, they sign the lease, they 00:01:46.849 --> 00:01:50.030 give you a deposit, and they are your tenant. 00:01:50.450 --> 00:01:53.230 And so this is what we think about when we think 00:01:53.230 --> 00:01:56.239 about renting a place, right? been renters at 00:01:56.239 --> 00:02:00.459 some point. And so the pros of this are consistent 00:02:00.459 --> 00:02:05.040 rental income. So ideally, if you're screening 00:02:05.040 --> 00:02:07.579 your tenants well, you're going to get that consistent 00:02:07.579 --> 00:02:11.460 rental income for that entire year. You're going 00:02:11.460 --> 00:02:14.680 to have a deposit to cover any damages, and you're 00:02:14.680 --> 00:02:18.620 really looking for ease and consistent payment. 00:02:18.740 --> 00:02:21.060 So if you're using a property management company, 00:02:21.949 --> 00:02:23.509 You're not going to have to deal with any of 00:02:23.509 --> 00:02:26.289 that. You do have to have some oversight with 00:02:26.289 --> 00:02:27.909 the property management company. And if they're 00:02:27.909 --> 00:02:30.189 not a great property management company, you're 00:02:30.189 --> 00:02:32.210 going to have to have a lot of oversight. But 00:02:32.210 --> 00:02:34.550 ideally, you're going to have some simplicity 00:02:34.550 --> 00:02:38.110 and consistency with a long -term rental strategy. 00:02:38.270 --> 00:02:41.210 It's straightforward. You can get rental comps 00:02:41.210 --> 00:02:43.550 easily. And there's minimal involvement for the 00:02:43.550 --> 00:02:47.819 investor if they want. So some of the cons of 00:02:47.819 --> 00:02:51.659 this strategy are going to be your rental income 00:02:51.659 --> 00:02:56.180 is limited. It's on the lower end of rents. Long 00:02:56.180 --> 00:03:00.599 -term rent is not necessarily maximizing the 00:03:00.599 --> 00:03:04.960 income potential of that property. And so you 00:03:04.960 --> 00:03:07.860 might be leaving some money on the table. Also, 00:03:07.960 --> 00:03:10.719 because you're entering into a tenant -landlord 00:03:10.719 --> 00:03:14.439 relationship, these tenants, depending on... 00:03:14.650 --> 00:03:17.250 Where your properties are located could be well 00:03:17.250 --> 00:03:20.449 protected. You can have to go through the eviction 00:03:20.449 --> 00:03:23.150 process. It could take a long time. There could 00:03:23.150 --> 00:03:26.150 be a lot of damages to your property that you're 00:03:26.150 --> 00:03:29.770 going to have to pay for. And so these properties 00:03:29.770 --> 00:03:32.449 tend to get more wear and tear, surprisingly, 00:03:32.449 --> 00:03:35.129 than short -term or medium -term because you 00:03:35.129 --> 00:03:37.550 do have that turnover. People generally are on 00:03:37.550 --> 00:03:41.659 their best behavior. you tend to have more damage 00:03:41.659 --> 00:03:46.340 and higher chance of having an eviction. Again, 00:03:46.419 --> 00:03:48.639 this can be mitigated with great tenant screening, 00:03:48.819 --> 00:03:52.099 but even with adequate tenant screening, expect 00:03:52.099 --> 00:03:54.699 to go through an eviction during your time owning 00:03:54.699 --> 00:03:56.740 the property. So that's long -term rentals. Next 00:03:56.740 --> 00:03:58.960 strategy that we're going to go over is going 00:03:58.960 --> 00:04:02.419 to be short -term rentals. So these are typically 00:04:02.419 --> 00:04:07.379 Airbnb or VRBO. They're vacation homes. And the 00:04:07.379 --> 00:04:10.120 rent, you're typically renting them out for less 00:04:10.120 --> 00:04:13.419 than 30 days. They are vacation. One day, two 00:04:13.419 --> 00:04:18.439 day, a week. They are vacation homes. So they're 00:04:18.439 --> 00:04:20.899 typically going to be located in markets that 00:04:20.899 --> 00:04:25.079 have... amenities and sites that people are going 00:04:25.079 --> 00:04:27.680 to want to go to so they're in mountain ski towns 00:04:27.680 --> 00:04:32.720 they're in theme park towns they are in any sort 00:04:32.720 --> 00:04:34.319 of place where tourists are going to want to 00:04:34.319 --> 00:04:36.740 come a big city that attracts a lot of tourism 00:04:36.740 --> 00:04:40.959 you know a los angeles or you know maybe a miami 00:04:40.959 --> 00:04:44.500 so a destination so these properties are typically 00:04:44.500 --> 00:04:48.019 going to look like vacation homes so high -end 00:04:48.019 --> 00:04:51.120 amenities, very specialized. So they might have 00:04:51.120 --> 00:04:53.660 like special decorations depending on who they're 00:04:53.660 --> 00:04:55.800 marketing to. There's like, you know, a subset 00:04:55.800 --> 00:04:58.980 of like bachelorette party places. And there's 00:04:58.980 --> 00:05:01.740 also like college football game theme places. 00:05:02.480 --> 00:05:05.660 And so really you're looking at these are vacation 00:05:05.660 --> 00:05:08.220 rentals. You're in the hospitality business if 00:05:08.220 --> 00:05:10.759 you're doing a short -term rental. So the pros 00:05:10.759 --> 00:05:14.779 of doing this are that it is, can be very lucrative 00:05:14.779 --> 00:05:19.579 in that. If you have a place that is in high 00:05:19.579 --> 00:05:22.300 demand, in a high demand area, you can command 00:05:22.300 --> 00:05:25.899 the premium and you can do very well with a short 00:05:25.899 --> 00:05:29.500 -term rental. Some of the cons are going to be 00:05:29.500 --> 00:05:31.199 that this space has become more competitive. 00:05:31.360 --> 00:05:34.360 So to stand out, you need to have more expensive 00:05:34.360 --> 00:05:37.439 high -end amenities or a theme that resonates 00:05:37.439 --> 00:05:40.759 with people. So the Airbnb and Vrbo space has 00:05:40.759 --> 00:05:43.120 just become more competitive in general, especially 00:05:43.120 --> 00:05:45.860 in the last five years. You really have to be 00:05:45.860 --> 00:05:48.899 an expert operator to succeed. And another con 00:05:48.899 --> 00:05:51.959 is going to be regulations. A lot of places are 00:05:51.959 --> 00:05:56.199 clamping down on Airbnbs. They're trying to regulate 00:05:56.199 --> 00:05:58.660 them more. And so this can be an issue that could 00:05:58.660 --> 00:06:00.620 impact your bottom line and something you're 00:06:00.620 --> 00:06:02.639 going to want to pay attention to wherever you 00:06:02.639 --> 00:06:05.500 decide to purchase your short term rental. Another 00:06:05.500 --> 00:06:08.310 thing is going to be operating expense. So if 00:06:08.310 --> 00:06:10.850 you're not the one who wants to do the amount 00:06:10.850 --> 00:06:13.709 of communication it takes, coordinating with 00:06:13.709 --> 00:06:16.589 guests, checking them in, answering all their 00:06:16.589 --> 00:06:19.029 questions, changing out the toilet paper, washing 00:06:19.029 --> 00:06:22.810 the towels, washing the sheets, it is very labor 00:06:22.810 --> 00:06:25.250 intensive. And so you could either do that yourself, 00:06:25.310 --> 00:06:28.930 but if you're going to handle it yourself, it's 00:06:28.930 --> 00:06:31.089 going to be a lot of work. If you want to have 00:06:31.089 --> 00:06:34.310 a property management company that focuses on 00:06:34.310 --> 00:06:37.540 short -term rentals, take over. all your management, 00:06:37.720 --> 00:06:39.459 well, that's going to cost you a pretty penny. 00:06:39.600 --> 00:06:43.980 So I mean, upwards of 25 % and even 35 % is going 00:06:43.980 --> 00:06:46.500 to go to these short -term property management 00:06:46.500 --> 00:06:48.399 companies that are going to handle that all for 00:06:48.399 --> 00:06:50.879 you, but at a cost which is going to significantly 00:06:50.879 --> 00:06:54.000 eat into your bottom line. And so those are some 00:06:54.000 --> 00:06:56.540 of the cons. Next up on our list of investment 00:06:56.540 --> 00:07:00.040 strategies is going to be medium -term rental. 00:07:00.259 --> 00:07:01.959 So this is something that I'm personally looking 00:07:01.959 --> 00:07:03.939 into converting some of my long -term rentals 00:07:03.939 --> 00:07:06.949 into is medium -term rentals. So medium term 00:07:06.949 --> 00:07:09.990 rentals, like short term rentals, are going to 00:07:09.990 --> 00:07:13.290 be fully furnished. The utilities are generally 00:07:13.290 --> 00:07:15.370 going to be included and they're going to be 00:07:15.370 --> 00:07:18.649 for stays that are 30 days or longer. A lot of 00:07:18.649 --> 00:07:21.089 times these are going to target like traveling 00:07:21.089 --> 00:07:24.370 nurses or people who have insurance claims and 00:07:24.370 --> 00:07:26.970 need to live in another house for a few months 00:07:26.970 --> 00:07:29.610 while their home is being repaired. It could 00:07:29.610 --> 00:07:31.829 be like college professors who are temporary, 00:07:32.209 --> 00:07:34.430 could be people moving to the area who just need 00:07:34.430 --> 00:07:39.509 a few months to get acclimated. I think the demographic 00:07:39.509 --> 00:07:43.550 for this strategy is going to expand because 00:07:43.550 --> 00:07:46.269 less and less people are wanting to like drag 00:07:46.269 --> 00:07:48.350 around all their stuff. So it's not about stuff 00:07:48.350 --> 00:07:50.389 as much anymore. It's about like the amenities. 00:07:51.990 --> 00:07:56.449 So it's a little bit less intense than. a short 00:07:56.449 --> 00:07:58.790 -term rental because you're not necessarily dealing 00:07:58.790 --> 00:08:02.990 with a vacation type environment. These people 00:08:02.990 --> 00:08:04.430 are definitely going to be interested in being 00:08:04.430 --> 00:08:07.430 closer to amenities or closer to work. So if 00:08:07.430 --> 00:08:09.269 they're a traveling nurse, they're going to want 00:08:09.269 --> 00:08:11.689 to be pretty close to the hospital or they're 00:08:11.689 --> 00:08:14.149 going to want to be in a desirable area that 00:08:14.149 --> 00:08:16.189 they can sort of maximize because although they're 00:08:16.189 --> 00:08:18.689 medium -term renters, they're not vacationing. 00:08:18.709 --> 00:08:21.629 They might have an element of that in their stay, 00:08:21.910 --> 00:08:24.189 especially if they're like kind of digital nomads. 00:08:24.699 --> 00:08:26.899 So people that kind of move around just looking 00:08:26.899 --> 00:08:29.360 to explore different areas and they work from 00:08:29.360 --> 00:08:31.959 home, they're going to want to be in like sort 00:08:31.959 --> 00:08:34.639 of the hippest area or someplace that's near, 00:08:34.860 --> 00:08:37.919 you know, what's going on. They're going to want 00:08:37.919 --> 00:08:41.679 to be near the action. And so some of the pros 00:08:41.679 --> 00:08:46.740 of this are that it's less intense than a short 00:08:46.740 --> 00:08:49.220 term rental. So because it's 30 days plus, you're 00:08:49.220 --> 00:08:51.809 going to have to handle less communication. there's 00:08:51.809 --> 00:08:54.950 going to be just less must less fuss because 00:08:54.950 --> 00:08:57.629 they're just saying longer you're also going 00:08:57.629 --> 00:09:00.409 to be able to maximize your income a little more 00:09:00.409 --> 00:09:04.690 than a long -term rental because you're going 00:09:04.690 --> 00:09:07.149 to be able to charge a premium because it's furnished 00:09:07.149 --> 00:09:09.690 you're providing all utilities and wi -fi and 00:09:09.690 --> 00:09:13.409 then you know those little extras um you know 00:09:13.409 --> 00:09:15.549 they might have a big screen tv you're gonna 00:09:15.549 --> 00:09:18.350 have you know nice beds so it's gonna be a furnished 00:09:18.350 --> 00:09:20.330 place that's gonna come out a bit of a premium 00:09:21.049 --> 00:09:23.309 And so it's kind of the sweet spot between a 00:09:23.309 --> 00:09:26.730 short -term rental and a long -term rental. And 00:09:26.730 --> 00:09:29.309 the advantages are that sometimes, or a lot of 00:09:29.309 --> 00:09:31.370 times, depending on the area, of course, these 00:09:31.370 --> 00:09:35.070 aren't going to fall under landlord -tenant laws. 00:09:35.509 --> 00:09:37.970 And they're not going to be Airbnbs or verbos. 00:09:38.070 --> 00:09:40.789 I think that's going to be... I think they can 00:09:40.789 --> 00:09:43.710 fall under landlord -tenant laws if they stay 00:09:43.710 --> 00:09:46.950 long enough. but they're not regulated like airbnbs 00:09:46.950 --> 00:09:49.190 so you got to check your local jurisdiction but 00:09:49.190 --> 00:09:51.230 i think a lot of times if it's like 28 days or 00:09:51.230 --> 00:09:53.389 more they don't count as short -term rentals 00:09:53.389 --> 00:09:55.889 and so they don't fall under that potential excessive 00:09:55.889 --> 00:09:58.690 regulation or regulation that you're seeing in 00:09:58.690 --> 00:10:01.149 the airbnb and burbo space so it's kind of a 00:10:01.149 --> 00:10:03.210 way to skirt around that but still maximize the 00:10:03.210 --> 00:10:06.250 income of your home And those are medium term 00:10:06.250 --> 00:10:09.309 rentals. Some of the cons similar to short term 00:10:09.309 --> 00:10:10.929 rentals are it's going to be a little more intensive. 00:10:11.110 --> 00:10:13.470 There's a little bit more expense up front in 00:10:13.470 --> 00:10:17.009 furnishing each room. And so you're going to 00:10:17.009 --> 00:10:20.220 see a little bit more of an upfront cost. Again, 00:10:20.360 --> 00:10:23.179 this should all be baked into the cake. So where 00:10:23.179 --> 00:10:25.100 you're going to be making money, but it's going 00:10:25.100 --> 00:10:26.659 to take a little bit longer because of that expense. 00:10:26.940 --> 00:10:28.980 Next up on our list of investment strategies 00:10:28.980 --> 00:10:32.340 is one that I am coming around to, but I'm still 00:10:32.340 --> 00:10:35.299 skeptical about, but I'm willing to give it a 00:10:35.299 --> 00:10:37.820 shot or at least a consideration. And that is 00:10:37.820 --> 00:10:40.899 the co -living space or what's commonly known 00:10:40.899 --> 00:10:44.490 as like rent by the room. And so this is really 00:10:44.490 --> 00:10:47.129 an interesting area if you can kind of wrap your 00:10:47.129 --> 00:10:49.929 mind around it. And the idea is that you are 00:10:49.929 --> 00:10:52.649 maximizing the space in your home and you're 00:10:52.649 --> 00:10:55.269 renting to people who are basically renting by 00:10:55.269 --> 00:10:58.970 the week. So each room in the home has its own 00:10:58.970 --> 00:11:02.490 locked door. And then there's common areas and 00:11:02.490 --> 00:11:04.889 common bathrooms. Some of the bedrooms with en 00:11:04.889 --> 00:11:08.190 suites you could charge more for. But each room 00:11:08.190 --> 00:11:12.529 is going to be its own separate entity. And so 00:11:12.529 --> 00:11:15.830 this is done through sites like PadSplit is a 00:11:15.830 --> 00:11:18.389 big one. They're not in every market, but they 00:11:18.389 --> 00:11:21.190 screen tenants. They have a membership portal 00:11:21.190 --> 00:11:23.370 and then they onboard those members. They do 00:11:23.370 --> 00:11:25.529 background checks. They make sure that these 00:11:25.529 --> 00:11:28.669 tenants can pay and then they rent your room 00:11:28.669 --> 00:11:32.330 by the week. And so really it's about maximizing 00:11:32.330 --> 00:11:35.690 bedrooms in a home. And I've seen people like 00:11:35.690 --> 00:11:37.929 frame in their dining room to make that into 00:11:37.929 --> 00:11:40.110 another bedroom. I mean, you can get kind of 00:11:40.110 --> 00:11:42.940 nuts with it. but the homes i'm i'm kind of considering 00:11:42.940 --> 00:11:45.039 for this strategy are more like these five six 00:11:45.039 --> 00:11:47.100 bedroom places where you don't need to do a lot 00:11:47.100 --> 00:11:51.220 of renovation um but you can still maximize the 00:11:51.220 --> 00:11:54.639 amount of bedrooms so each of these goes from 00:11:54.639 --> 00:11:56.799 you know in my market here in vancouver they're 00:11:56.799 --> 00:12:03.519 like two to 375 a week um depending on you know 00:12:03.519 --> 00:12:06.159 obviously the amenities But this is a little 00:12:06.159 --> 00:12:07.799 bit different than like a room share because 00:12:07.799 --> 00:12:11.120 typically these are like they're not owner occupied. 00:12:11.940 --> 00:12:14.980 Every room here is rented by somebody. So it's 00:12:14.980 --> 00:12:17.120 a little different than these sort of room share 00:12:17.120 --> 00:12:20.019 sites like Roomster. This is a really interesting 00:12:20.019 --> 00:12:23.320 population because what I think this is doing 00:12:23.320 --> 00:12:25.519 is really you're trying to turn your place into 00:12:25.519 --> 00:12:27.379 a multifamily. Basically, you're trying to turn 00:12:27.379 --> 00:12:30.940 your single family home into an apartment. The 00:12:30.940 --> 00:12:34.080 tenants that you're renting to, they can't afford 00:12:34.080 --> 00:12:36.519 a one or two bedroom place because it's too much. 00:12:36.940 --> 00:12:40.240 They're looking for something that's clean, that's 00:12:40.240 --> 00:12:42.519 furnished, that's in a decent area, that's safe, 00:12:42.580 --> 00:12:45.539 but they don't want to pay a lot of money for 00:12:45.539 --> 00:12:47.259 it. So they're willing to do this room share 00:12:47.259 --> 00:12:50.340 thing. And so, you know, if you're doing 250 00:12:50.340 --> 00:12:55.389 a room, sorry, 250 a week. you know that's a 00:12:55.389 --> 00:12:57.389 thousand dollars for one room so you got like 00:12:57.389 --> 00:12:59.570 five rooms you're looking at five thousand dollars 00:12:59.570 --> 00:13:01.970 and then if you have an ensuite with a bathroom 00:13:01.970 --> 00:13:03.789 that you could charge more for that's even more 00:13:03.789 --> 00:13:07.929 so you're really juicing up your single family 00:13:07.929 --> 00:13:11.049 home and really making it into a multi -family 00:13:11.049 --> 00:13:14.029 so that's kind of the pros of it is that you 00:13:14.029 --> 00:13:19.750 can maximize your income pretty quickly you know 00:13:19.750 --> 00:13:22.159 depending on how I wouldn't want to do a lot 00:13:22.159 --> 00:13:24.659 of modification to a home because then if you 00:13:24.659 --> 00:13:26.799 wanted to go and sell it, it's kind of a weird 00:13:26.799 --> 00:13:30.879 layout. And so I would just purchase these five, 00:13:31.039 --> 00:13:34.259 six, seven bedroom homes and then just do those 00:13:34.259 --> 00:13:36.259 by a rent by the room strategy. Because a lot 00:13:36.259 --> 00:13:38.779 of times those homes don't rent very well. Like 00:13:38.779 --> 00:13:41.399 people aren't usually looking to rent a seven 00:13:41.399 --> 00:13:44.360 bedroom home unless it's in an area where you 00:13:44.360 --> 00:13:46.460 could do short term rental, like it's in a high 00:13:46.460 --> 00:13:49.559 demand vacation area or city. then that would 00:13:49.559 --> 00:13:52.259 be great. But for this strategy, I'm interested 00:13:52.259 --> 00:13:56.679 in it because you can maximize that income, but 00:13:56.679 --> 00:13:58.460 you don't have the constant communication you 00:13:58.460 --> 00:14:01.220 do with a short -term rental. So the cons of 00:14:01.220 --> 00:14:03.500 it are it's kind of new and you're kind of relying 00:14:03.500 --> 00:14:05.879 on the platform to do a lot of your due diligence. 00:14:06.139 --> 00:14:10.720 I think pad split takes like 8%. uh fee which 00:14:10.720 --> 00:14:12.759 seems well worth it that's kind of your standard 00:14:12.759 --> 00:14:15.500 property management fee but i don't know how 00:14:15.500 --> 00:14:18.679 much you have to change out toilet paper and 00:14:18.679 --> 00:14:21.740 this and that like um and i do worry about disputes 00:14:21.740 --> 00:14:25.740 and i do worry about tenant quality because this 00:14:25.740 --> 00:14:27.960 does have like kind of a house i've heard it 00:14:27.960 --> 00:14:30.539 referred to as like a halfway house model but 00:14:30.539 --> 00:14:32.799 honestly i think these uh tenants for these are 00:14:32.799 --> 00:14:34.379 just people who are like trying to build credit 00:14:35.000 --> 00:14:36.879 They're trying to save money. They don't want 00:14:36.879 --> 00:14:38.879 to, they don't have money for like a giant deposit. 00:14:39.320 --> 00:14:42.379 So they want to get in some place for less money. 00:14:42.500 --> 00:14:45.639 And that's kind of the advantage of it. And I 00:14:45.639 --> 00:14:48.000 see this being very popular in the future because 00:14:48.000 --> 00:14:50.059 we're just headed to renter nation. People are 00:14:50.059 --> 00:14:52.620 just going to be renting. Prices are unaffordable. 00:14:53.740 --> 00:14:55.419 There's going to, there's a need for affordable 00:14:55.419 --> 00:14:58.759 housing. And so this really kind of the ideal 00:14:58.759 --> 00:15:00.700 candidate for this is like people who are responsible 00:15:00.700 --> 00:15:02.960 and are kind of building, they just don't have 00:15:02.960 --> 00:15:04.570 a lot of money. You know, maybe they will in 00:15:04.570 --> 00:15:06.190 the future. They're just kind of starting out. 00:15:06.289 --> 00:15:08.470 They need a safe place. They don't want a lot 00:15:08.470 --> 00:15:11.330 of hassle. It's very, very gen alpha. Like they 00:15:11.330 --> 00:15:13.389 want to furnish room. They don't need all the 00:15:13.389 --> 00:15:17.210 extras. And this is serving a growing community. 00:15:17.389 --> 00:15:19.129 So I'm pretty excited about it. I haven't done 00:15:19.129 --> 00:15:21.149 it yet. I'm thinking about it. I'm looking at 00:15:21.149 --> 00:15:24.210 it. Pad split is not in my areas where I invest. 00:15:24.450 --> 00:15:26.690 So they're not in Minneapolis, Minnesota. They're 00:15:26.690 --> 00:15:30.529 not in Vancouver. So I'm hoping to kind of get 00:15:30.529 --> 00:15:33.129 it kicked off here. Maybe like get. get a property 00:15:33.129 --> 00:15:36.370 and try it out. And so we'll see what happens. 00:15:36.429 --> 00:15:39.789 But those are, you know, those are the pros and 00:15:39.789 --> 00:15:44.159 cons of these investment strategies. If you have 00:15:44.159 --> 00:15:47.100 an investment strategy that you use that you 00:15:47.100 --> 00:15:48.620 like, I'd love to hear about in the comments. 00:15:48.659 --> 00:15:50.340 Or if you're interested in one of these strategies 00:15:50.340 --> 00:15:52.240 or have questions about them, let me know in 00:15:52.240 --> 00:15:54.399 the comments as well. I'm happy to answer those 00:15:54.399 --> 00:15:56.879 based on what I know and hope you've enjoyed 00:15:56.879 --> 00:15:58.940 this. If you're getting any value from these 00:15:58.940 --> 00:16:01.240 videos, it really helps me if you just hit the 00:16:01.240 --> 00:16:03.860 like button and consider subscribing. If you 00:16:03.860 --> 00:16:06.200 want more information about real estate and real 00:16:06.200 --> 00:16:08.399 estate investing, and I hope you have a great 00:16:08.399 --> 00:16:09.600 day. Take care. See ya.