The David Greene Show – Real Talk Real Estate

Airbnb Is Turning on Hosts—Here’s What Investors Should Do

Date: February 12, 2026
Host: David Greene
Guest: Ashley Cole

Episode Overview

This episode dives deep into the mounting challenges facing Airbnb hosts and real estate investors in today’s climate. David welcomes Ashley Cole—an accomplished short-term rental owner and property manager—to dissect the changing landscape, highlight the mounting frustrations with Airbnb, and discuss strategies for surviving and thriving amid these new headwinds. From practical tips for house hacking to hard-won property management lessons and insights on market trends and direct booking, this episode offers actionable advice, candid stories, and a clear-eyed look at what’s happening behind the scenes in real estate.

Meet the Hosts (00:00–02:49)

• David Greene introduces the listener-driven, Q&A-style format and special guest co-host, Ashley Cole, an expert in short-term rentals in Branson, Missouri.
• Ashley Cole shares her background:
  • Owns 19 short-term rentals.
  • Manages over 40 properties.
  • Invests in long- and short-term rentals since age 21.
  • Recently acquired a 160-acre farm for a mix of lease and family hobby farming.

Segment 1: Getting Started with House Hacking (03:08–09:17)

Listener Q (Anthony Wheeler): Looking to house hack a multifamily property—advice?
Key Insights:

• Both David and Ashley strongly approve of house hacking as a way to build wealth.
• Ashley emphasizes:
  • The importance of trustworthy roommates.
  • Potential to do rehab while living in the property to add value ("Did a lot of rehab ... so Burr kind of, kind of burning also at the same time" – 05:23).
  • Buy where you can build equity and leverage.
  • Rent-by-the-room can be lucrative, especially with affordable housing shortages.
• David's Tips:
  • Be wary of low-priced properties in rough neighborhoods.
  • Work with experienced agents, not just part-timers.
  • Negotiate closing cost credits as aggressively as price.
  • Shop financing and use reputable brokers.

Memorable Quote:
"Make sure you get an agent that's not like a friend or a person that does this on the side and they've sold three houses in their whole life..." – David (08:03)

Segment 2: The Airbnb Backlash—Host Challenges and Survival Strategies (09:17–41:43)

The Host's Perspective: Airbnb "Turning Against" Owners

Listener Q (JR Matthews): Why does Airbnb always side with guests? Can hosts use other platforms? Does Airbnb’s insurance really work?
Key Discussion Points:

• Host Anxiety: There is "a high degree of anxiety going around right now" amongst hosts (12:24).
• Ashley’s Experience: Once supportive, Airbnb now "holds us hostage with the rules they put in place" (12:58). Guests are "scamming the hosts" with bogus refund demands, sometimes aided by "YouTube and TikTok tutorials" showing how to do so.
• David: Airbnb no longer values the host—"Us, as the host is not a valued customer of them. We are a pawn to be used in their business..." (14:48).

Scam Examples

• Guests file exaggerated claims ("black mold," "dust behind the HVAC") for refunds, even if issues are manufactured or petty (15:47–16:48).
• Airbnb often suspends listings based on guest complaints with little recourse for hosts, leading to huge financial losses (17:00).

The Death Spiral for Hosts

• Increased cleaning costs.
• Relentless refund requests.
• Hostile guest-review dynamics (hosts too scared to be honest).
• Market over-saturation—can't easily sell problem properties.
• Loss of trust in Airbnb's insurance and support.

Direct Booking as a Solution?

• David and Ashley: Building direct booking sites is the best long-term hedge, but tough because most travelers default to Airbnb.
  • Ashley: New platforms (e.g., Wander) may help smaller operators leverage better SEO and discoverability (21:55–23:53).
  • Ashley: "Ideally, I mean, I think every host would love to have 100% direct booking and be able to get out from under the visa front thumb of Airbnb" (20:48).
• Pricing Structure Change: Airbnb now shifting host fees up to 15%, meaning hosts have to raise their prices by 18.35% just to break even (24:33).
  • "So to be able to make the same amount of money you were before, you have to do 18.35%." – Ashley (25:04)
• Airbnb’s model: Increasing host fees, rolling out upcharged extras (events, vendors), and giving hosts zero say in what happens on their property.
• David: Most hosts are "demoralized," facing forced discounts, revenue loss, and few exit options.

When to Hire a Property Manager?

• Property management is "a business"—if you’re not up for it, get a good manager.
• Pick managers who are also investors—they know firsthand what's at stake (29:09).
• Watch out for slick marketers without real experience.
• Direct booking sites run by good property managers can bring in higher-quality guests and better returns, even after fees.

Memorable Quotes:

• "Hosts can go to, you know, only a handful of platforms, Airbnb, VRBO ... they're the golden handcuffs." – Ashley (12:58)
• “[Airbnb] is not doing that. And they haven't come out publicly and said anything about this that I've heard.” – David (14:48)
• "There is an element where, if you have a really good property manager ... you're really only paying 4% to get all the work taken off of you, which many people would gladly do." – David (27:46)

Direct Booking for Guests

How guests can save:

• Google for direct booking sites.
• Search Airbnb for company names in descriptions, then go direct (36:35).
• Trust/discount dynamic: Direct-booking guests are seen as more trustworthy and often get discounts (38:26).

Segment 3: Quick Hitters—Lightning Round of Real Estate Hot Takes (42:10–68:09)

Some Highlights & Quotes:

• On Sharing the “Bad Deals”
  "If somebody's just telling me all the good all of the time, I'm not going to believe it." – Ashley (43:19)
• On ADUs as Short-Term Rentals
  Location and permissions are everything—"You have to understand your market and whether or not it’s even allowed." – Ashley (47:37)
• On Lender Transparency
  "Most investors don’t mind fees, they mind surprises." (Mortgage Mondays, 53:44)
• On Political Alignment and Education
  "You don't have to agree with every aspect of someone else's life in order to learn and better yourself from their knowledge and expertise." – Listener, Anthony Colin (56:47)
• On Investment Selection
  "Going where everybody else is going is absolutely, obviously the wrong answer." – Ashley (78:36)
• On Affordable Housing/Wholesaling
  "Any kind of affordable housing I think is, is where it’s at. I’m just worried about the future ... owning assets is extremely important right now." – Ashley (66:31)

Segment 4: Real Estate News Analysis (68:09–80:23)

National Market: Are We Heading for a Crash?

• More inventory (30% higher listings), but not from new sellers—rather, homes sit longer.
• Home price growth is slowing or going negative in some regions, but a major crash seems unlikely.
• Buyer fear of missing out ("FOMO") is gone, making it harder to stimulate activity.

Short-Term Rental Regulations

• Example: Austin, TX and their 1,000-foot rule for STR spacing. Regulations are tightening (74:09).
• Ashley: “There is so much overregulation in the short term rental world … that's just kind of a ridiculous example.” (74:09)
• David: Government should focus on transparency and more building, not restrictive, arbitrary rules.

Miami: “Epicenter of Volatility”

• Miami’s market now considered world’s most vulnerable real estate bubble (76:18).
• Factors: Soaring prices, rising insurance and condo fees, excessive regulation, and disconnect between rents and home prices.

Segment 5: Before and After—Featured Property Rehab (80:23–83:01)

• David walks through his latest fire-pit and landscape renovation, lamenting the soaring costs and scarcity of good photographers.
• Both hosts highlight the importance of strategic property improvements and attention to detail.

Resources & Where to Find the Hosts

• Ashley Cole:
  Website: regastays.com
  Social: @regastays (Instagram, etc.)
  Market: Branson/Springfield, MO

• David Greene's Team and Offerings:
  CoastToCoastGetaways.com (Direct booking, property management)
  davidgreene24.com (Loans, brokerage, chat support across the U.S.)

Notable Quotes & Moments

"I prefer to pay 220 for a house and get 10k back in closing cost credits than to pay 210 for that same house. Right. If you could do both, do both. But I would prioritize getting your closing costs covered..."
— David Greene (08:03)

"Now, it's a necessary evil. Hosts can go to, you know, only a handful of platforms, Airbnb, vrbo ... they're the golden handcuffs."
— Ashley Cole (12:58)

"The economy’s bad. There’s massive competition ... cleaners are fighting us ... we're getting hammered by guests that are asking for refunds all the time when we can barely make our mortgages as it is ... and now we have Airbnb joining with the guests. And it's so discouraging. Like, this is the most demoralized I've ever seen short term rental owners."
— David Greene (18:00)

"If you aren't using Price Labs, you're going to be leaving money on the table."
— Ashley Cole (50:04)

"Going where everybody else is going is absolutely, obviously the wrong answer. Most of the time you want to try to get ahead of it, not behind it."
— Ashley Cole (78:36)

Timestamps to Key Segments

• 00:00 – Show intro, meet David & Ashley
• 03:08 – House hack Q&A
• 09:17 – Airbnb host backlash: JR’s question
• 12:24–41:43 – Deep dive: Airbnb host frustrations, scams, insurance doubts, direct booking
• 42:10 – Quick Hitters (audience hot takes)
• 68:09 – Real estate news analysis, market outlook
• 80:23 – Before & After featured property
• 83:01 – Where to find Ashley & David, wrap-up

Tone & Takeaways

Candid, conversational, and sometimes comedic but always practical, this episode delivers both the big trends and the street-level realities for investors. The show stands out for its willingness to air the ugly realities (“the demoralized host”), expose platform shortcomings, and champion hands-on solutions—while maintaining an approachable, "no BS" tone.

For distressed Airbnb hosts, would-be investors, and anyone navigating today’s choppy real estate waters, this is essential listening.