Investing vs. Business: The Hidden Risks and Challenges of Real Estate

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Think real estate investments are passive? Think again. This episode dives into the harsh reality of managing "passive" real estate, from rental properties to short-term rentals. It's not just about owning a property; it’s about running a business. Expect to put in the work—customer service, maintenance, and staying competitive in a fast-changing market. If you’re looking to succeed in real estate, this episode lays out why it’s far from a hands-off game.

Key Takeaways:
- Investing in Airbnb properties is more like running a hospitality business, requiring a focus on customer service and attention to detail.
- The Airbnb market is constantly changing, and staying competitive requires ongoing effort and adaptation.
- Real estate agents and brokers should maximize their time and skills to generate income for investment, rather than relying solely on commissions.
- Sales and marketing skills are essential in any industry, and learning these skills can provide a significant advantage.
- Licensing and regulations in real estate serve to protect the public and maintain ethical standards in the industry.
- Building a business on strong ethical principles is crucial for long-term success.

 Sound Bites:
- "You're mixing an investment with a business."
- "Airbnb is more of a hospitality type business."
- "Airbnb has changed. I'm sure VRBO has changed."
- "If you know basic finance, learn people skills and some sales skills, the world's your oyster, in my opinion."
- "Sales is just an extension of marketing. You're marketing yourself or your business, your product when you're in front of someone selling them." 

Chapters:
- 00:00 Introduction and Setting
- 02:00 Investing in Airbnb Properties vs. Starting a Hospitality Business
- 05:18 Challenges and Risks of Running an Airbnb Business
- 08:24 The Changing Landscape of Airbnb
- 23:08 The Importance of Identifying and Addressing Blockages in a Business
- 31:39 Owning a Business vs. Owning a Job
- 35:51 The Interplay Between Sales and Marketing
- 44:04 The Role of Licensing and Regulations in Real Estate
- 52:19 Building a Business on Principles and Ethics