EP 230: What You Should Know About Short-Term Rentals with Avery Carl
Jan 27, 2022The vacation market is booming, and our guest, Avery Carl, will teach you how to capitalize on it while creating passive income opportunities for yourself.
Avery Carl was named by Wall Street Journal as one of the Top 100 and by Newsweek as Top 500 agents in 2020. She and her team at The Term Shop focus exclusively on Vacation Rental and Short Term Rental Clients, having closed well over 1 billion dollars in real estate sales.
Since 2017, Avery has sold more than $300 million in short-term/vacation leases and has a portfolio of over 100 Doors. She specializes in connecting investors with the highest ROI potential while teaching them to manage their short-term rentals remotely.
In this episode, look forward to some phenomenal, new tips - from how to find the right market, how to finance and manage your rentals, to a holistic approach to finding success in short-term rentals.
Avery is a trusted partner of ours in the investor community. She is an entrepreneur, a rental owner herself, and she is also the author of a very new book, BiggerPockets published, called Short-Term Rental, Long Term Wealth.
So, let's set you up for long-term wealth. Jump into the conversation, and learn everything you should know about short-term rentals!
Quotes
• “You are able to pivot as many times as you want. So don't think because you started flipping houses that that defines your real estate career. You can change it, you can leverage, you can play in different baskets.” (4:50 - 5:06)
• “You always want to start with the market because the regulations are going to be really different depending on the market you're buying in… I stick to markets where short-term rentals have been a thing for decades and decades… I call them ‘Mature Vacation Markets.’” (9:48 - 10:20)
• “If anything was going to come along and wipe out all the short-term rentals and all the vacation markets, it was going to be COVID. And it actually caused a boom... Because they're accessible, they boomed, and because they're affordable they boomed.” (16:34 - 16:57)
• “There ARE Value-Add opportunities in vacation markets, but they just look a little bit different.” (22:25 - 22:29)
• “There are things that numbers and data can't tell you. That is what we call the ‘Enemy Method…’ So you're looking at the data, but then also using the Enemy Method to go in and look at why the data says what it says” (40:38 - 41:46)
• “I don't wait for something to be perfect before I take off running with it. I take off running and adjust as I go.” (43:05 - 43:10)
Connect with Avery Carl:
LinkedIn: AveryCarl
Twitter: @ShortTermShop
Website: www.theshorttermshop.com
Resources Mentioned:
- Short-Term Rental, Long-Term Wealth
- Guesty For Hosts App
- PriceLabs
- AirDNA
- Rabbu
- MortgageShop.co
- The E-Myth Revisited
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