Dave Ramsey
👤 SpeakerAppearances Over Time
Podcast Appearances
I mean, you ain't got time to do nothing.
So...
I don't know that you have the bandwidth to add another one on your personal, number one.
Number two, the risk with Airbnbs is, as you probably know, and I don't know where it stands in Providence and Rhode Island, but many HOAs, many neighborhoods, many entire municipalities are passing zoning to stop it.
Because they're disruptive to the neighborhood.
And so I know a lot of people that have lost the ability to run an Airbnb on a property they bought for an Airbnb.
And in a historic setting, that's very possible.
It's the oldest mall in America where there's retail on the first floor, and the second and third floor was repurposed to Airbnb.
Okay.
So that means the risk of them rezoning it and keeping you from doing it is less?
No, they're already got residential in there.
It's just a matter of whether it's nightly rental residential because it's a hotel in a sense.
So I don't know.
You're doing some things I don't want to do, and I don't recommend people do things I don't want to do.
So number one thing you're doing is you're buying property with someone you're not married to.
Very dangerous.
Number two, you're going in debt to do it.
Very dangerous.
Number three, you have a high risk business model that's dependent upon someone else called Airbnb.
Very dangerous.