Real estate is the most historically proven asset class and one of the reasons it’s made more people wealthy than any other investment is because of control and we don’t have that with a lot of other investments so this week we’re gonna dig into just that.

Welcome to short-term rental riches will discuss investing in real estate with a specific focus on short term rentals quick actionable items to wire. Scale your portfolio I’m your host Tim Hubbard.

Welcome back to the short-term rental riches podcast I’m happy you’re here again we’ve got another subject for this week another topic related to real estate of course and also related to short term rentals because we’re talking about a broad topic today and something that’s very unique to real estate and not really unique to it a lot of other investments and that thing is control we have control with our real estate and there’s lots of things that we can control there’s a few that we can’t but we’re gonna talk about the ones that we can and why some other investment vehicles don’t offer us this control and therefore are more risky we can control where we buy our real estate. Clearly right and we talk about that all the time it’s it’s different everywhere but we can also control the tenants in our property or who we decide to lease our apartments too or as a short term rental the types of gas that we bring in but we also control whether or not we want a long term gas or short term gas of course here on this show we are all focused on short term rentals because they make a lot a lot of money they make more than long term rentals at 4 in the right spot so we can control that we can change that use if we want to as long as regulations permit that we can but of course we can make sure we’re getting properties in areas that already approved as regulations we have lots of control the real state we have control over management so even if we let go of the reins and we have a property manager and they’re taking over the property we still have the ability to continue working with the management company if it doesn’t work out we can find a new one now probably one of the best things about real estate is our ability to add value we have control over that we we have the ability to add value to a property now again this we have we have to make sure buying the right properties it still have a value we can add to it so through a renovation through lowering expenses through increasing the rents there’s lots of ways to do that but if we think about other investment classes other investment vehicles stocks for example or gold do we have the ability to raise that bow you. And how are I guess you could say for invested billions or trillions of dollars and raise the stock prices then maybe we could but reality we don’t have any control to raise those prices we also don’t have control over the management of the stocks for investing into into the mantra comes that’s completely new no control or putting money into a company that we think can increase in value or maybe just their stocks can increase in value so I like that a lot about real estate and I think the more control we have the less risk we have and we can become super super wealthy as long as we don’t screw up too much right as long as we don’t get into a bad deal or get upside down is something in the more control we have the easier it will be for us to not get into bad investments actually in regards to real estate a lot of people invest through a syndication so syndication is where someone is pulling money together to buy most of time a larger property large apartment building hotel or whatever it may be almost all of the big deals that you see are syndications now those can be really good opportunities you can make a lot of money was syndications it allows you to join forces with people that maybe a more experienced but at the end of the day if you’re a passive investor in the syndication then you give up all of your control you have the ability to investor decide which syndication want to be in but if you are a passive investor in a syndication and then you don’t have any control unfortunately if the person that put the syndication together you know maybe they weren’t honest or they didn’t have as much experience as they claim to have or the deal go sideways or the management they have in place doesn’t work we can’t really control any of that so by maintaining control. All we can lower our risks and therefore become wealthier faster for not **** up now I don’t want to say that any of these other investment vehicles aren’t good and they don’t have a good place in a diversified portfolio because they certainly can I just want to point out the difference in the control that we have so that is one of the reasons more people are become wealthy through real state than any other investment vehicle we we have the control and there’s lots of things that are out of our control no matter what investment decisions we decide to make so we we can’t control the news we can’t control if our flight gets canceled so automatically we have control over investment decisions ultimately we have control over our life they say I’ve heard this quote turn around I don’t know exactly says it but the average person spends more time planning their vacation than they do their life we have the ability to plan our lives out just as we have the ability to decide what investments we make and I believe the more control we have with our investments the last risk we have in the better we can do in the long run so until next time just ponder that when you’re making your next real estate investment decision or if you’re deciding to invest in other asset classes just remember control has a big impact on the outcomes in our ability to generate wealth until next time. A wonderful day. There’s so much money to be made the short term rentals but it all starts by having the right property if you guys haven’t yet seen my free ebook on our website rest methods.com head over there and get a copy it’s going to break down what I look for in a property in some great short cuts so that you don’t have to spend hours and hours researching at over rest methods.com and you can grab your free copy there if you want a crash course in everything I’ve really learned to short term rentals in over 5 years managing over 15000 Gasol recorded on our last live event I am happy to say we broke it down really nicely into a bunch of different modules that you can watch at your own pace it takes you from start to finish from finding a property we talk about analyzing the property but then also some of the more important pieces how to find your team and how to set up everything so that you can run your operation is passively as possible and free up your time you can find that it rests methods.com forward slash virtual.

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• Episode 68: Operating Our Rentals Remotely – The Secret Ingredient
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• Episode 38: Is a Short Term Rental the Best Use for Your Real Estate‪?‬