638: Making a Profitable Pivot Out of Regular Rentals and into Vacation Investing w/Brian Davila

BiggerPockets Real Estate Podcast

BiggerPockets

Education, Business, Investing

4.8 • 16.5K Ratings

🗓️ 21 July 2022

⏱️ 82 minutes

🔗️ Recording | iTunes | RSS

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Summary

Rental property investing is a great way to make cash flow, or so it seemed in the pre-2022 world. Interest rates are rising, home prices have skyrocketed, and rent can’t keep pace with this market. Brian Davila saw this in his portfolio and knew he needed to do something about it. Buying “traditional” rental properties wasn’t going to cut it, especially when the monthly cash flow was a measly few hundred dollars. How many houses would it take to grant him a life of financial freedom? To most people, Brian Davila looks spoiled for choice. He’s a young guy, doing forty or so flips per year, bringing in big active and passive income checks. If you think that Brian can’t relate to the average investor, you’re wrong. Brain immigrated to the United States at just six years old, dropped out of high school in the ninth grade, and had his first child at nineteen. He was working at Las Vegas day clubs making ten dollars an hour before he decided to become a real estate agent. After cold calling hundreds of sellers a week, Brian was able to grow his clientele and eventually become a top agent. The only problem? He had no time for his family. He made the switch to start flipping and buying long-term rentals but had to pivot once again to a different strategy that would make him more cash flow even as home prices rise. Brian knows what it takes to become very successful in real estate in a short amount of time, and if Brian can do it, anyone can. In This Episode We Cover: How to become a successful agent and why most people shouldn’t get their license Transitioning from trading your time for money to letting your money give you back time Brian’s biggest mistake when growing a fast-paced real estate investing business Flipping forty homes a year and how to get around permitting pain points Short-term rentals vs. long-term rentals and which will survive in 2022 Lowering your tax bill as a real estate investor and avoiding capital gains And So Much More! Links from the Show BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast Get Your Ticket for BPCon 2022 Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area David's BiggerPockets Profile David's Instagram Rob's BiggerPockets Profile Rob's Youtube Rob's Instagram Rob's TikTok Rob's Twitter Real Estate Rookie 113 BiggerPockets Podcast 616 How to Calculate Numbers on a Rental Property Rob’s Video on The New Airbnb Redesign Books Mentioned in the Show SKILL by David Greene SOLD by David Greene Flip Your Future by Ryan Pineda $100M Offers by Alex Hormozi Connect with Brian: Brian's BiggerPockets Profile Brian's Instagram Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-638 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our sponsor page! Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Bigger Pogas Podcast Show, 638.
0:05.0	Something people don't talk about is like as you start to make more money,
0:09.0	you start understanding that your time is more valuable.
0:12.0	So I'm like, okay, I'm spending all this time on this rental.
0:15.0	That's pretty much making me nothing.
0:17.0	Like I get the appreciation, but there's no cash flow at all.
0:21.0	There's like no money being made.
0:23.0	But with short term rental, I can get the appreciation.
0:27.0	I could get the cash flow.
0:30.0	I could get all the same benefits, but more.
0:33.0	So that's kind of what made me decide to switch to short term rentals.
0:37.0	And I'm actually not going to buy any more long term rentals.
0:41.0	I'm still going to go hard with short term rentals,
0:44.0	but I'm just going to have to probably pivot markets.
0:47.0	What's going on, everyone?
0:49.0	This is David Green, your host of the Bigger Pogas Real Estate Podcast,
0:52.0	the best real estate investing podcast in the world.
0:54.0	Here today with my beautiful co-host Rob Abasolo.
0:57.0	Rob's so glad you could join me today.
0:59.0	How you doing, man?
1:00.0	I feel like it's been a while since we've been back on the mic.
1:05.0	That's exactly right.
	...

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