Reacting to Shelby Church’s “Not Financial Advice”

What’s up guys, in today’s video, I’m going to be reviewing a another one of Shelby churches YouTube videos, where in this video, she is going to be talking about why you shouldn’t make an Airbnb in 2023. If you watched the last video, you saw that, you know, it’s just hard to watch content like this. And I have a lot of problems with the way that Shelby church invest her money in short term rental properties. But nevertheless, I think it’s really good opportunity to educate people on a lot of things not to do and how to do short term rental investing successfully if you want to do it at all. So I thought it’d be worth reviewing this video, because this is someone who has bought a property that they use as a short term rental, I’m really hesitant to call it an actual short term rental investor or someone who’s invested because I really think that Shelley Church’s approach does not qualify in any way shape, or form as investing. But she has nonetheless bought a property that she does list on Airbnb. And so I think there’s going to be some good things to learn from this, obviously, she hasn’t had a lot of success with it. And so we want to break down why, because we can learn a lot from other people’s failures. And that will save us from having to make those same mistakes ourselves. So I think there’s a lot to learn here. Let’s go ahead and jump right into it. This is the first time I’m seeing this video. And I’m just going to be reacting and sharing my thoughts as we go through it here. In 2020, Airbnb became one of the most popular Real Estate Investments when it works, honestly, it’s a dream, it’s pretty passive income, and you still get to use your house essentially for free. Who wouldn’t want that?

Right off the bat. Pretty passive, I would kind of argue with that. I think passive is like investing in an index fund. Whereas running a short term rental, like at scale, you know, if you if you have it up and running, and then you’ve got good management systems in place, it can be pretty passive. But I think it’s oversold as being like super passive, when realistically, you still have to buy the property, you still have to set it up for Airbnb, it’s not nearly as passive as just putting your money in an index index fund. But if you’re comparing it to like what most people think about short term rental investing, which is like they think that you’re literally going to be there cleaning the sheets every single time responding to every guest message yourself doing everything yourself, then yeah, it’s a lot more passive than I think a lot of people expect it to be.
So people did it. A lot of people the number of Airbnb is grew dramatically. It was not like that a year ago. And post COVID People were eager to travel. So for a while it worked great. And there was a gold rush to Airbnb, it really was the perfect storm for hosts and people made a lot of money.
We made roughly about $175,000 on track to gross
a million dollars this year. But like they say nothing lasts forever. And since 2020, a lot has changed is it Airbnb about to collapse, the amount of people that are booking that as the concern hand inflation is causing a decline in bookings, Airbnb superhosts, eight bookings have declined due to the the economy supply and demand interest rates. It’s a completely different ballgame. In certain circumstances, Airbnb can still be a good investment long term, but I do think for most people, it just doesn’t make sense anymore. So we’re gonna talk
all. Okay, so I think this is an interesting point is like, yeah, the economy is not doing nearly as well right now as it has over the last number of years. And so naturally, your investment is not generally going to do well like unless you’re betting against the market, in general, using different financial tools to do that, you’re not going to have your investment do better in a down market than it does in an up market. But that being said, with any investment, if you do it in an intelligent way, you’ll be able to make money still and make money over the long term, even going through market cycles, even in a down market. And so again, like that’s why I think that a lot of people are really just gambling when they say they’re investing is because they’re just trying to time the market. They’re trying to play a game where they’ll make a bunch of money when the markets good. But the reality is, you can’t time the market, no one can over the long term successfully. And so you’re really just taking a bunch of bets. And you what you really want to focus on if your goal is long term wealth creation, and you want to be able to retire on this income, things like that, then you really have to make sure that you structure your portfolio in a way that it can succeed long term, regardless of what the market does overall, if that makes sense. So naturally, if less people are travelling, and there’s less demand going to short term rentals, you’re not going to make as much money out within Airbnb as when tonnes of people are travelling and tonnes of people are spending more money on travel, but you can still make good money, you can still make a really good cash flow, you can still make really good returns and have your investments still be growing overall, it doesn’t have to be shrinking in a down market. But I mean, just kind of pointing at something that to me should be pretty obvious to most people, which is that, yes, over time, your investment is going to have periods where it does better periods where it does worse. But over the long term, it’s still going to do really well. And even in those down times, it doesn’t actually have to be losing money. So,
why I don’t think getting into Airbnb in 2023 is a smart investments. For context. I’m an Airbnb host to myself in Palm Springs. I had my house up for about a year, and the earnings were not as good as I
expected. Yeah, so And right off the bat, I personally would never take investing advice from Shelby, just based on what I saw on the last video, which you can go check that video, I did a reaction video on that one as well. I would not be taking investing advice from Shelby. And she’s here saying I would not personally recommend investing in as well. You know, who is she to give you investing advice, not only as she never actually invested before, like, again, I’m taking the stance that she was just gambling, like she was spending money, not actually investing money, because everything about the whole like she, you know, literally in her last video, she stated that it was unexpected that there’ll be more than just the mortgage to pay on a monthly basis. Like she just didn’t even account for hydro for insurance for taxes for permit fees like that just is not investing, I don’t think you can pass it off as investing any more than someone that bought Dogecoin is an investor. So I personally wouldn’t take investing advice here. And again, you also have to look at like where she’s generating that idea from, which is one single anecdotal example of someone failing with an investment. So it’s like, yeah, if if one person that bought one stock without doing any research on it, were to say, you know, it didn’t work for me when I bought this one stock, like I bought BlackBerry stock, and it didn’t do well. So investing in the stock market isn’t something I’d recommend to most people. It’s like, really? Yeah, like, I mean, Warren Buffett’s been doing it for a long time really successfully. There’s tonnes of other people that invest successfully in the stock market. You know, look at Ray Dalio, he’s doing quite well, isn’t he? So like, you can’t just write off the entire investing vehicle, the entire asset class, just because you personally failed at it. So that’s why again, like when, you know, people like like myself in the space, who are coaching people who have exposure to I’ve done a whole bunch of different deals, I’ve worked with hundreds of different investors who are doing deals I’ve worked with, you know, 1000s of hosts and property managers, we can see the entire market, we can look at the data overall, not just our one anecdotal experience. Again, you know, it’s like, it’s like me, you know, being lactose intolerant and saying, no one should drink milk. Well, you know, that’s anecdotal. It’s not actually based on on the averages on the statistics on the numbers.
And at the end, we’ll go over a couple scenarios where it still might be a good investment to get into Airbnb, the first reason is that it’s much more expensive to get started than it used to be. A lot of you guys probably know, interest rates rose quite a bit this year, from two to 3%, to now about 6%. And that means that your monthly mortgage is going to be a lot higher. So let’s take for example, my house,
yeah, but I mean, your purchase price is also going to be lower. So you know, that tends to happen when the market fluctuates, interest rates go up, prices come down, I’m sure in some rates in some markets, I should say interest rates have gone up and prices haven’t corrected yet and come back down. But there’s still plenty of way better deals to be had when you look at purchase price. It’s really not just a one sided equation. So I purchased
it in 2020. For about $750,000, our interest rate was a little under 4%. Our monthly mortgage with taxes and homeowners insurance is $3,400. So let’s see what those numbers would look like with today’s interest rates assuming the same purchase price. So the same $750,000 house at a 6% interest rate would now give you a monthly payment of $4,597. But here’s the crazy thing, prices are up to in last two years average home price has gone up 40%. If you bought this property today,
again, like you, you don’t look at the averages don’t look at the entire market, because you’re not buying the entire market, you’re buying in a specific pocket. So it doesn’t really matter what the average is like, Sure, you can extrapolate some data from that. But realistically, you’re not just going to go buy any random home, you want to look for a home where the numbers still make really good sense on it. So in some parts of the US, for example, which is where she’s looking their prices have gone down considerably since 2020. Since 2021, in different parts of Canada and divert all over the world prices have come down as interest rates have gone up. Sure. There are definitely markets overall where the prices have continued to rise and you haven’t seen that correction. And in those areas. You shouldn’t be buying properties like absolutely you shouldn’t buy an investment property. That’s just prohibitively expensive. And to the extent where there’s no way it’s going to cash flow, especially with current interest rates, don’t buy that property or don’t buy in that market, but doesn’t mean that you shouldn’t buy properties overall,
a for 1.2 million and put down 20%. Your monthly mortgage would be about $6,500. That’s about double what my mortgage is. So
yeah, bye The way she’s getting this 1.2 million value off of a Zestimate. That should tell you everything you need to know it’s not what her house is actually worth. It’s what the Zestimate says it’s worth,
you really see the power of interest rates. And with my experience renting my house on Airbnb and a full year, those numbers just wouldn’t work, you would not be able to break even like we hardly, we didn’t even break even at my interest rate.
Yeah, she’s not even breaking now, because it wasn’t a good investment back then. And it’s not a good investment. Now, no kidding. Who would have thought that it was just not a good property to buy for Airbnb? Like, this is not insightful. This is just you showing that hey, it wasn’t a good investment back then I showed that in my last video, I lost money, I shouldn’t have bought this property. And I didn’t do my research in the first place. And now a couple years later, turns out it’s still a bad property to buy for a short term rental, it still wouldn’t break even. No kidding. Like, obviously, this is a terrible market to be buying in. There’s lots of restrictions. She didn’t do any due diligence is a terrible property buying in Yeah, no kidding.
You know, so unless you’re buying cash and can find a killer deal that interest rates really make,
don’t buy in cash. That is silly. In some situations, it may make sense. But like, I don’t think that that’s good blanket advice to give that like you should only buy if you’re buying in cash. That’s just ridiculous.
Talk for the numbers to make sense. The next reason is that bookings are down pretty much across the board. No, no would be one thing. If you got a mortgage that was higher and nightly rates were up and bookings were sky high. But that is not the case. Right now, you guys know that I’ve seen with my Airbnb personally, bookings have really slowed down. And it’s not just me, a lot of hosts are opening up about this across many different locations. It’s not just Palm Springs, it’s kind of everywhere, specifically the Smoky Mountains, Eugene, Oregon, North Georgia mountains in South Florida. And I’m sure many more markets.
Yeah, so these are all a bunch of anecdotal accounts of areas that have gone down in bookings based on single user experiences. So if you actually want to know, because there definitely are areas where the bookings have dropped, and there are also areas where the bookings have risen, if you want to know, look at the data, like there literally exists market data, you can go to air DNA, you can get the market data, and you can see which areas have actually risen in bookings overall, which areas have actually decreased in bookings overall, but trusting individuals with their anecdotal experience to tell you what’s happening in markets, not a smart move, like that’s just gonna lead you astray. And again, that doesn’t really mean that like the area isn’t good to invest in, you have to look at the relativity, you have to look at how bookings declined. But in some of these areas, maybe home prices have also declined, right. And so maybe it does make sense, you’ve just got to look at the whole picture, as opposed to like, segmenting it out into individual things. And looking at bad data. Again, even this research that she’s doing right now, it’s a pretty good lens into how she does research. And it’s fundamentally very, very, very flawed method for doing research. Because like, she’s just looking at individual components, not actually relating them together, and acting as if they’re, they’re, you know, completely siloed, and that they don’t relate to one another at all, or that they shouldn’t be related to another to one another. In order to make a good sound investing decision. Bookings
are dramatically down. I’ve even noticed some of the Airbnbs that I’ve checked in episodes about that are really cool and really unique are slower than they used to be. I have seen one exception to this though. And that is in areas where you can’t get a rental contract anymore. I’ve been following this guy Rohin on Twitter, and he’s have still been doing so well that he wasn’t sure if it was a rumour or not. However, what I realised about his properties is they’re pretty much all in areas where you can’t get a new rental permit anymore, because the supply hasn’t gone crazy in these areas. It seems like his rentals still do really well. They’re when they’re pretty normal looking houses. They’re nothing crazy or unique. Really, the sense is New Mexico was very cool. The big thing is that there is a limited supply in these areas. But all of these other markets that allow short term rental permits in the last few years, we’re seeing they’re flooded with supply. And so of course, bookings are down air DNA reported a 24% year over year increase in Airbnb listings. That’s a huge increase, which would definitely have an effect on bookings. I mean, it really makes sense we are,
again, like all of this, all of this is so macro that it’s impossible to make good decisions on it because you’re not investing in the whole US market. Like if you’re going and just buying like 50 properties at random across the US then this data would apply to you but like you need to do specific market research. The first thing we work on with anyone that we do coaching with is helping them to research individual markets that they’re interested in, see which ones make the most sense. And again, like there’s just I’ve stopped interjecting a whole bunch because there’s pretty much nothing that I do agree with in this approach. Hear. But I think the one takeaway that we can all take away from this is that, like, you have to actually look at data when you’re doing your research, you have to look at the numbers. Don’t trust your emotions, don’t trust your friend, Billy, who is posting on Twitter that he, you know, he, his bookings are down, Billy probably sucks at hosting, Billy probably doesn’t know how to adjust his rates properly. That’s why Belize places slow down, you know, like trust the actual numbers. And I mean, do your research actually, for like an individual area and individual market that you’re looking to invest in? Don’t try to look at, like macro stats. Like, that’s like looking at the stock market and going, yeah, the stock market overall is down. So you shouldn’t buy any stocks? Absolutely, you should, there are still really good companies that are for sale right now their stocks for really good prices, you’d be better off buying them now than buying them a couple years ago when they were really inflated. But you can’t look at the entire market and then say, Oh, we shouldn’t invest in the entire market. So that means we shouldn’t invest in any individual stocks, or just don’t invest your money, or like, take your money in cash, like, oh, man, so much bad advice in here.
And it’s more of going into a recession. What matter is people are spending less money on Airbnb. And so I think if you’re looking for this really good cash flow in the next year, you’re probably not going to find another reason is what I like to call Airbnb,
you probably will, if you just look properly. That meant a lot
of people just really hate Airbnb now, for two main reasons. The first is that they’ve had a bad experience with Eric.
Again, this is so anecdotal, there’s no strict statistical significance to this, like, people have always had problems with pretty much every company that’s ever existed. I could go on right now. And I could find people that hate PETA, I can find people that hate Walmart, I can hate find people that hate any company I want to look for. And that’s always been the case. And that’s not to say that Airbnb doesn’t have anything wrong with it. Like there certainly are challenges there are there’s room for improvement. But this is so anecdotal that it’s like she’s saying it as if it’s a macro trend, and that people are flocking away from Airbnb. And that’s just not true.
A lot of people are annoyed with the fees, the checkout lists, and there are a lot of really bad Airbnbs out there. Airbnbs tend to be less consistent in terms of quality than hotels. And while there are a tonne of amazing Airbnbs out there, the bad ones have really damaged Airbnb is entire reputation. At this point, almost everyone that travels frequently has tried Airbnb, and a lot of these people have not had a good experience at some point. And these people, they’re going back to hotels, unless they’re booking for a big group and it’s cheaper to stay in a house, people are really moving back to the hotels. And the second type are people that have,
again, like show me the data to actually back that up. People are actually looking at the reviews for the places they stay. They’re being more diligent they know what to look for. But show me the actual stats. I’d be curious. Like, shall we if you’re watching this, show me the actual stats that indicates that Airbnb bookings have declined and hotel bookings have risen. And I’m really interested to see that like if you have some stats that show that but if you’re just going off of anecdotal, like you’re just making these these assumptions up, then I mean, not much weight behind that. Guys just want to take a quick break here to say that for those of you watching, who want to build cashflow, and long term wealth by purchasing Airbnbs and short term rental properties, there’s a link in the description right down below for a free training that will walk you through my exact strategy for investing successfully in Airbnb. Now, if you’re not ready to actually buy properties, and you want to get started managing other people’s properties on Airbnb the same way I got started and build a full time income managing other people’s properties. There’s actually another free training linked in the description down below as well. There’ll be a really great fit for you. So whether you want to invest in short term rental properties and actually build amazing cash flow and long term wealth by acquiring the assets, buying the properties themselves, or you’re looking to earn a full time income managing other people’s properties on Airbnb, we’ve got some awesome trainings that are linked in the description down below. That’ll definitely help you out. When you sign up for the trainings. We’re also going to send you a few other tools and resources completely for free just to help you get started. Again, the links to sign up are in the description down below. And both trainings and all the tools are completely free. So make sure to register for the trainings links in the description down below.
Towards Airbnb has overall effect on the housing market. It’s no secret that Airbnb is having an effect on the overall housing supply. If you buy a house and you turn it into an Airbnb, it is taking off the market for someone to live in long term or to own when I first started my Airbnb journey no one was really talking about this. No one called me today. Oh,
yes, they were. Yeah, people have been talking about this for like a decade now. I don’t know where she’s been. People have been talking about this like ever since ever. UVI became popular.
But now people are aware of it and they don’t like it. In reality there are so many factors that affect the housing market Airbnb is probably a pretty small role in it because cities that don’t even allow Airbnb still have particularly expensive housing. Let’s take Seattle, for example, from what I found online, there’s 367,000 homes here. And air DNA reports there’s about 6000 Airbnb so that means only 1.6% of homes are Airbnb is just regular old landlord, institutional investors, zoning laws, the fact that builders haven’t really built as much in the last 20 years, all of these things affect the housing crisis. But Airbnb definitely does, too. I’m not going to deny that and it has become like the number one thing people are pointing the finger at right now. So I do think this affects where people want to spend their money and you pay less on Airbnb. Alright, despite all this, I do think there are still a couple scenarios where it could be a good investment. Only a couple though, okay. Otherwise, I just think for most people, it’s just not. The first one is anyone that’s able to buy a property in cash. I know it’s probably like literally one person watching. If you’re able to buy in cash, then interest rates are irrelevant to you. And that is one of the main things that makes Airbnb is just not make sense right now.
This is just terrible advice. Flat out, you shouldn’t buy in cash, like in certain scenarios, it may make sense to buy in cash. But generally speaking, you’d be able to like you can take if you have $100,000, you’d be better off buying a couple of homes and financing them, where you can cashflow positive, versus taking that 100k and buying one home in cash, because you could take that 100k and buy, let’s say five homes with it. Just you know, again, like just looking at, obviously, there’s closing costs and all this other stuff, but let’s just say it’s 20% down just to keep the numbers clean, you could take that 100k. And instead of putting into one home, you could put it into five homes with down payments at 20%. And you’d be able to build a lot more wealth and a lot more cashflow long term. And in the short term, frankly, with those five homes than with just one home. So even though you’ll be paying more interest, you’ll be making more money as well, because you’re using financial leverage, which is an incredible tool to use when used properly. Now, if you’re just like, absolutely loaded, and you don’t care about wealth building, you just want to like put your money into an asset that’s going to hold or appreciate in value over long term make a bit of cash flow and you’re not worried about financial leverage, the financial leverage is just too stressful for you even bought want to bother dealing with because you already are at the financial end game. Sure, buy in cash, right. Or if you’re like really stressed out by financial leverage, then sure buy property and cash, it’s better than having the mind just sit and dwindle away in cash sitting in your account. But I personally would recommend working on that mentality, that mindset. So you can become comfortable with financial leverage, which you develop by becoming more financially literate becoming more like understanding how financial leverage works, so that you can be more comfortable with it, not just being scared of it, or you know, just looking at it as like, oh, interest rate equals bad. Interest rate doesn’t equal bad interest rate is bad when it’s on consumer debt, it’s not bad. When you have a cash flowing asset that is paying for that interest, you’re not the one paying for that interest, and you’re using it to your advantage.
Okay, still wouldn’t be down. And I don’t think there’ll be some amazing cash flow in the next couple of years. But if you’re buying in cash, that’s not going to be a huge deal to you. And I think that in five to 10 years, things will pick back up again, and you’re gonna be just fine in the meantime. So it could be a good place to park your money. But who really knows, right? The other scenario,
not, not you? Yeah, I’m glad she bought that this is not financial advice, as she’s giving financial advice. Because it is terrible financial advice that I don’t think anyone should listen to. So at least you put the disclaimer on there,
I still think it could be a good investment. If you plan to hold a property for a very long time and you plan to use it a lot yourself. I mean, this is
I actually agree with the first part of that you should invest in things that you plan to hold long term if you want stability. I don’t personally like the idea or the or the strategy of buying homes and flipping them or buying them and relying on a cash out refi sure, do a cash out refi if you can, but don’t put all your eggs in that basket because if the market fluctuates, then you could be in a bad spot. So I do agree with having a long term investing strategy and buying assets that you’re willing and excited to hold on to for long term. I think the last point of it needing to be with personal use is just irrelevant. I think that’s silly.
We’re I’m out with my Airbnb, I want to hold it for a long time and I do use it a lot myself. So it just breaking even is I’d be thrilled with that. You know if you have like this dream location
that you Yeah, and I think fundamentally, this is also something worth pointing out that a lot of As can learn from this is fundamentally why Shelby has not done well as a quote unquote investor is because if you ever see an investor going into their investment going, if it just breaks, even, I’d be happy, I’d be really happy with that. Like, obviously, you never hear an investor saying that no investor ever goes in and goes, if it just breaks, even, I’d be happy. That is a consumer and a consumer goes and says, Oh, if it just breaks, even, I’d be happy. And I think this is actually a really good teachable moment here that we’re everyone can learn from because I think a lot of people, they get into this space, and they kind of first are attracted to short term rental investing because of the cashflow potential, but then they see the lifestyle potential and they get like lifestyle creep that flows into their investing. And that’s a recipe for disaster when people start justifying poor investments because of the lifestyle benefit of oh, I can go and use it, or I just like this property. I personally think that the best way to have success in your life, like in your lifestyle, and as an investor is to buy your investment properties purely for investment. And then afterwards, you can use them to increase your lifestyle, that is an awesome benefit. But just when you’re making the initial buying decision, totally discount that aspect. Totally remove that, because it’s just going to have you making worse and worse investing decisions over time and justifying them with lifestyle, better to make really solid investing decisions, and then get just a bonus of lifestyle benefit over the long run. I
know you’ve always wanted and you’re able to afford it but you want to use Airbnb to offset most or some of the costs, then I think that is a realistic way to go about it in 2022. And then maybe by 2025 bookings will be back up this one, I think it could still be an okay, investment, I don’t think it’s going to be
it just wouldn’t be an investment, right? Like at that point you are consuming, you are not purchasing you’re consuming. And then you’re adding in another income stream to support your consumption. But it’s not investing. Let’s not call it that. Because it’s not what it is.
A stellar investment, to be honest, gone are the days of buying just a normal home like this in an area that you don’t even like and putting it on Airbnb just to make a quick buck, if you can afford it, and you actually want to use it as a place a lot yourself, I still think yeah, Airbnb could be a good way to offset a lot of those costs. And then five to 10 years from now, who knows, it might be profitable. Again, if we’re out for recession, some years are gonna be really good. Some years might be a little slower. So that’s pretty much it. Those are kind of the only scenarios where I think it sort of makes sense. But even these, I don’t think it’s that good of investment, you could just put your money somewhere else and maybe make more fun. Last thing I want to note is that this is just my own personal opinion, right? It’s based on my experience, and also research I found online.
Perfect. Okay, so I think again, let’s just address the the elephant in the room here, which is it really this is a video that is based purely on her anecdotal experience, and some really poorly formulated research that she’s done. So it should really just be looked at as an opinion piece, not as actual advice, not as any kind of advice that you should listen to, or give any real weight to, because it’s so anecdotal. And if you’re going around making your investing decisions, deciding where you’re going to allocate 10s, or hundreds of 1000s of your dollars, based on on one single individual person’s opinion and no further research, then you shouldn’t be investing at all. So yeah, anyone watching this video, if you actually got value from this video and thought, oh, wow, this is something I’m gonna listen to, then yeah, don’t invest because like you’re you’re fundamentally missing the point about what it takes to be successful at anything, let alone investing.
I’m completely honest with you guys, because I truly have no incentive for you to do Airbnb. I really don’t care if people do it or not. And that’s why I’m so open about sharing the highs and the lows, making money, but also, not always making money. I think you should keep this in perspective. When you’re doing research on Airbnb in general. I really trust when people show their numbers for the entire year. A lot of what I see on YouTube now is people still promoting Airbnb, I think their properties might not be as profitable anymore either. One example there is a guy Sean who has made a few videos about me and no shade to him whatever like but he is still often promoting doing Airbnb, probably, I think because he has a course that he sells for like $500 on how to do Airbnb. So there is some incentive there to promote Airbnb to get people to want to do it. But his calendars look
like essentially what she’s implying here is that he knows that it’s not doing well but he’s continuing to promote it anyway because it We’ll make him money to do that. And I got a really wholeheartedly disagree with that, because this is a guy that’s literally been doing this. He’s been doing rental arbitrage for years and years has experience in it, why would he not make money on that expertise? Why would he not go and try to help people with that expertise, that’s like, it’s like business 101 Is solve problems for other people and get rewarded for the value that you provide to them by solving those problems. Other people that want to do that, he can help them solve a bunch of problems they’re going to encounter. And he should be making money doing that, like I respect the hell out of that. That’s what I do, too. I have a lot of experience with Airbnb management with Airbnb investing, and I help people to do that successfully. And yes, I make money doing that. But that doesn’t mean that I’m an unethical person, or that I’m going to tell people to do something that’s not in their best interest. That’s literally like saying that a doctor is unethical because they’re being paid to give medical advice, like you as a consumer, and I, as a consumer, all of us as consumers need to do our own due diligence to make sure that we actually trust the person. But just the fact that they’re making money from something does not mean that they’re not trustworthy. There are plenty of doctors that are not trustworthy, and they make money doing unethical things. And there are also plenty of doctors that are very trustworthy, and they make money doing very trustworthy things acting in the best interest of their of their patients, their clients. So to imply here that like just because someone is making money doing something, they’re there for unethical and doing it or doing it for the wrong reasons. That’s just like that, to me is like mind blowing, it doesn’t make any sense. Again, do your own research, do your own due diligence, if you’re listening to me, make sure you trust me and don’t just listen to me Look, look at other data sources. Like whenever we work with clients, we don’t just tell them, hey, trust me, this is a good market, we have them go and look at the data, do their research, check out air DNA, check out short term rental insights, these different data sources, so you can find the truth and do actual research. And so you as a consumer, we should all be doing that. But again, like just looking at anyone that makes money and going they’re not trustworthy, is crazy. That’s like saying that Shelby because she’s on YouTube and makes money on YouTube. You can’t trust anything she says about literally anything and shouldn’t listen to it for anything and should assume that she’s only saying it to extract money out of you. It’s crazy. It’s just crazy. Like, don’t listen to her investing advice, because she’s not a good investor, not because she makes money doing it like, yeah, like qualify, who you should take advice from based on the quality of their advice, not whether or not they made money on it, we literally all make money doing something, or we’re just poor and homeless. And you know, that sucks.
This even talks about that in some more recent videos, I went through a bunch of his listings, and there are like, almost no bookings at all for many of these properties. And almost all of them are priced under $100. A night, I don’t know,
which again, like even just looking at this, she’s not looking at actual data, what I’d be interested to see is like, how does what does his past calendar look like? How many bookings did he actually get? How much money did he actually make? Not what is the future look like? Because the future is not a clear picture of like the whole scenario, right? Maybe he’s getting a tonne of last minute bookings in here. Like he maybe his costs are low enough, like you don’t know what he’s paying for rent on these places. So like, how could you possibly know like, whether or not he’s been profitable on them, you can’t if you’re just looking to looking at his empty future calendar, you do Oh, this is a poor investment. But like, plenty of my properties have relatively empty future calendars, but they get booked up as time goes on. And we make really great money on them. So again, like I think that you got to look at the actual info, rather than just looking at like her really poor attempt at doing proper research.
How he could possibly not be losing money. Honestly, I think the strategy he does actually used to work really well, but it doesn’t anymore, so I would keep that in mind.
I think it’s just unjustified I think she’s just kind of like basically making pretty wild assumptions and accusations.
mind when you’re watching some of these other YouTubers were really promoting it, because it could be that they’re promoting it because they have an incentive. It could be that they’re promoting it because it genuinely is still working for them and it just stuck at it. That could be I don’t know, but I think in general just
Yeah. Okay. That is it. You got
cautious because even if someone is selling a course that is genuinely really good information. It might be that it’s a little too late, I think I think there
and again, I think this is again just a terrible investing philosophy of looking for like trying to time the market get in at the right time. I can’t tell you how many people that like come to us and they want coaching but their number one concern is Is now the right time to invest and people are always feeling that way. When the market is high. They go oh, the prices are too high. It’s not The right time to invest when the market is low, they go all the markets crashing, like it’s not the right time to invest. And then you have people that sit on the sidelines their entire life and don’t build wealth. And the reality is, no matter where you get in real estate investing looks like this, you know, it’s up and down, but in an overall upward direction. So as long as you’re not buying something and trying to do something short term with it, like do a short term play, make money, flipping it six months later, as long as you’re right, or ride it out over the long term, you will do well, regardless of what point in the market cycle you get in at, if you buy properly. So it’s really not about timing the market, it’s about knowing how to invest properly, in whatever market you’re in. There are some courses that are
out there that are probably really good. And if you had purchased it two years ago, would have made you a lot of money. But now just with the circumstances that everything are at, I don’t know if they really would. And that is why I gotta be honest in saying that. The airbeam bust is real, also a note because I know a lot of people are gonna say so are you still doing the Joshua tree property, and I am still planning on doing that. I think that is kind of the third exception is if you’re building new construction, it’s possible for the numbers to still make sense. And I would have to get into that in like a whole separate video. But I just think really, yeah, I think honestly, for the vast majority of people, Airbnb just isn’t going to make sense in 2023. I’m,
this is laughable. This is hilarious that she’s out here. Like, she’s out here bashing it, and then she’s not even gonna take her own advice and not do it. She’s gonna keep doing it, which again, I actually think for her she is the Shelby is the one person out of everyone that should actually listen to her own advice. Because the reality is, she does suck at it. She’s not doing it properly. She’s not doing any of her own research properly. So she should get out of the game, she should actually just stop doing Airbnb altogether, because she’s doing a really bad job of it. Or she should pull it together and actually do proper research, turn into an investor, not a consumer and approach it from a totally different way. Like, but she’s not doing that she’s just literally going to keep on ploughing forward, she had one failure and has not done really one iota from what we’ve seen of personal self reflection to go, Hey, why did I screw up, she’s just purely blaming it on the external forces, and then continuing to do it. Even though the external forces haven’t changed. It’s like, that’s literally the definition of insanity is doing the same thing over and over and over again expecting a different result. That’s insane.
learning along the way, and I’m just kind of sharing my findings what I am honestly finding, so if you appreciate it again, we’d love if you
anyway, that’s it for today. That’s all I can take of this. Hopefully you guys got some good takeaways, again, like I think it’s valuable to go through something like this because it’s great for you and me and everyone to be able to learn from someone else’s failures as opposed to having to go and make those mistakes again on our own because it’s a lot more costly as we’ve seen in this video and the last one to make those mistakes yourself than it is to just watch a video like this where we can see someone else making them and know exactly what not to do. So again, thanks for watching hope you got value from this. Let me know your thoughts in the comment section down below. If you liked this video, if you did get value from it, hit the like button and make sure if you want to stay up to date with the channel that you hit the subscribe button as well. We post two new videos every single week helping you to become a better host as a short term rental host manager or investor be better with Airbnb and short term rentals. So hope you enjoyed. I’ll see you in the next one.