Like many people at the start of Covid, YouTube creator Carter Sharer spent a lot of time scrolling through real estate websites.
The 27-year-old searched for something specific and extravagant: a hub for his YouTube group, Team RAR or “Rare and Ridiculous” to live and work. He finds a 15,000-square-foot rental property in the Bel Air neighborhood of Los Angeles that’s available for rent for $39,700 a month.
“The house was absolutely amazing,” Sharer said He tells CNBC Make It, detailing its seven bedrooms, eight bathrooms, pool, tennis court, and two-acre backyard. “I could only dream of the content we would be able to film here.”
By the time Sharer signed the one-year lease in April 2020, rent was $39,700 per month and has since risen to $43,700. He remembers that the initial costs, such as the first month’s rent plus a security deposit, were $118,500.
Sharer owns Team RAR Inc. The 21-person cast, which includes five other content creators, a handful of repeat gamers and a technical crew that helps produce and shoot the videos. Team videos usually include acrobatics and challenges taking place at home, such as creating a “The tallest trampoline tower in the worldIn the courtyard or functional building Chick Phil A in one of the rooms.
Two creators, including Sharer, live at home full time. It is open to the rest of the RAR team for any work related projects.
“Never in my wildest dreams did I think I’d pay that much money just to live in a house,” Sharer says. “All the crazy things we do here, surprisingly, look so natural.”
“These fractions of a cent start to add up, which has resulted in our ability to pay all the bills every month,” Sharer says.
The monthly rent for a home equals what many people spend on the down payment to buy a home. Team RAR also pays additional monthly fees including $3,600 for utilities, $1,800 for cleaning, $2,500 for landscaping, and $200 for pool maintenance.
In total, the group pays approximately $51,800 per month for the home. Over the course of the entire year, they will likely pay around $621,600.
Sharer sees all of this as a temporary investment.
“Needless to say, this house is very expensive,” he says. “I think just renting it for a short time, even though I pay a lot, is the best way to do it.”
A home should be more than just a co-working space or a place to live, as it serves as the backdrop for group videos. This is why the decor is relatively sparse: it’s an adaptable blank slate.
Sharer says it also has practical amenities that are particularly valuable in Los Angeles: a place to park his Lamborghini.
“It sounds like the silliest thing in the world, but I’d pay a lot of money for a very average sized corridor in my mind,” he says. “It’s amazing that we can park the cars in a driveway off the street.”
Sharer is already planning his next move: in September, he He announced the purchase of a house worth 10 million dollars On the east coast. He says he plans to split his time between the two homes.
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