EP 64: The Real Estate Path Nobody Explains: Rentals → Development → Freedom? | David Rosenbeck
Thu Feb 05 2026
What happens when you stop chasing properties and start building assets on purpose?
In this episode, Stephen sits down with David, a former nurse practitioner whose investing journey started during the pandemic while working in high-pressure hospital environments like the ER, ICU, and oncology. While caring for patients, David noticed a growing issue that most investors were missing. Traveling nurses had money, but they didn’t have comfortable, reliable places to stay. That insight became the foundation of his real estate strategy.
David shares how that simple observation led him into midterm rentals, why he chose to scale intentionally instead of chasing doors, and how that mindset eventually pushed him toward ground-up development and residential assisted living. What makes David’s story compelling isn’t just the asset classes he chose, but how methodical and patient his approach has been at every stage.
📌 Why many investors naturally progress from long-term rentals → midterm rentals → short-term rentals → development, and how chasing “movement” is often mistaken for real progress
📌 Midterm rentals as a foundation strategy, including why hospitals and traveling professionals create stable, predictable demand.
📌 The biggest difference between owning old properties vs new builds, and why predictability matters more than hype
📌 Ground-up development in Sedona, including:
- Choosing lots based on views, not square footage
- How land appreciation can offset permitting and planning costs
- Why patience is the real skill in development
📌 Private money strategies that don’t require giving up equity, including:
- Using old 401(k)s rolled into self-directed IRAs
- Structuring promissory notes correctly
- Avoiding SEC and securities issues
📌 Why development offers multiple exit strategies, such as:
- Selling approved plans
- Cash-out refinancing
- Holding as a high-end short-term rental
📌 The reality of working with cities, engineers, and contractors, and why being “too nice” can cost you months
📌 Why small, unique stays and ultra-luxury properties are winning, while the middle gets squeezed
📌 Residential Assisted Living (RAL) as a long-term play, including:
- SBA financing advantages
- Cash flow potential compared to traditional rentals
- Why this asset class has decades of runway
📌 The mindset shift from chasing deals to designing a life, and how fewer properties can create more freedom
This conversation goes beyond tactics. Stephen and David talk openly about progression in real estate, the risks of moving too fast, why development requires a different level of discipline, and how building wealth is often more about waiting and positioning than constant action.
Find David‘s IG here: https://www.instagram.com/davidrosenbeck/
Follow Stephen on IG: https://www.instagram.com/stephenhusted/Follow our Podcast on IG: @thebreakthrough.podcastConnect on LinkedIn: https://www.linkedin.com/in/stephenhusted/and YouTube: https://www.youtube.com/channel/UCsdNkau-5DUE9rGUIHrpfXA
More
What happens when you stop chasing properties and start building assets on purpose? In this episode, Stephen sits down with David, a former nurse practitioner whose investing journey started during the pandemic while working in high-pressure hospital environments like the ER, ICU, and oncology. While caring for patients, David noticed a growing issue that most investors were missing. Traveling nurses had money, but they didn’t have comfortable, reliable places to stay. That insight became the foundation of his real estate strategy. David shares how that simple observation led him into midterm rentals, why he chose to scale intentionally instead of chasing doors, and how that mindset eventually pushed him toward ground-up development and residential assisted living. What makes David’s story compelling isn’t just the asset classes he chose, but how methodical and patient his approach has been at every stage. 📌 Why many investors naturally progress from long-term rentals → midterm rentals → short-term rentals → development, and how chasing “movement” is often mistaken for real progress 📌 Midterm rentals as a foundation strategy, including why hospitals and traveling professionals create stable, predictable demand. 📌 The biggest difference between owning old properties vs new builds, and why predictability matters more than hype 📌 Ground-up development in Sedona, including: - Choosing lots based on views, not square footage - How land appreciation can offset permitting and planning costs - Why patience is the real skill in development 📌 Private money strategies that don’t require giving up equity, including: - Using old 401(k)s rolled into self-directed IRAs - Structuring promissory notes correctly - Avoiding SEC and securities issues 📌 Why development offers multiple exit strategies, such as: - Selling approved plans - Cash-out refinancing - Holding as a high-end short-term rental 📌 The reality of working with cities, engineers, and contractors, and why being “too nice” can cost you months 📌 Why small, unique stays and ultra-luxury properties are winning, while the middle gets squeezed 📌 Residential Assisted Living (RAL) as a long-term play, including: - SBA financing advantages - Cash flow potential compared to traditional rentals - Why this asset class has decades of runway 📌 The mindset shift from chasing deals to designing a life, and how fewer properties can create more freedom This conversation goes beyond tactics. Stephen and David talk openly about progression in real estate, the risks of moving too fast, why development requires a different level of discipline, and how building wealth is often more about waiting and positioning than constant action. Find David‘s IG here: https://www.instagram.com/davidrosenbeck/ Follow Stephen on IG: https://www.instagram.com/stephenhusted/Follow our Podcast on IG: @thebreakthrough.podcastConnect on LinkedIn: https://www.linkedin.com/in/stephenhusted/and YouTube: https://www.youtube.com/channel/UCsdNkau-5DUE9rGUIHrpfXA