Dec 13, 2022
# 6: Leveraging STRs to Scale Your Investing Portfolio with Avery Carl
In this episode, I sit down with Avery Carl, author of “Short-Term Rental, Long Term Wealth,” the host of The Short Term Show podcast, and the CEO and founder of The Short Term Shop, a real estate agency nationwide that specializes in helping investors get connected with the best properties in the best markets to invest in short-term rentals.
Avery educates us using short-term rentals to scale your real estate investing business Additionally, she shares her personal opinions about a partnership, the significance of having a partner, and the terms of their collaboration in the rental business sector.
Avery Carl is an expert on short-term rentals who has written for top industry publications such as Investopedia and The Real Deal Magazine. She is also an accomplished investor with an impressive track record of success. Her company has purchased $350 million worth of property since its inception in 2009.
Highlights and Key Points:
[00:01:47] Introduction to Avery and what she does
[00:02:44] Avery talks about her family
[00:03:53] The inspiration behind Avery writing her book about STR
[00:07:32] How STR took Avery from 0 to 240 doors
[00:11:44] Why do we need to diversify our portfolio for STR?
[00:18:14] The importance of defined roles for partners in a partnership
[00:19:58] Why Avery likes honing in on regional drivable vacation-type destinations
[00:25:18] Avery’s market criteria for long-term rentals
Golden Nuggets
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You don’t need 1000 short-term rentals to get yourself to the point of having enough cash flow to make that happen because, at the end of the day, short-term rentals are a business; they’re a system.
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Regional drivable places are both accessible and affordable, covering the entire spectrum of things that can go wrong in the economy. They’re just a little bit insulated from a lot of the outside factors that other types of markets are not, so that’s why I like to focus on them.
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You need to take a good hard look at what you’re buying and what market you’re buying in. If you have to analyze it as separate asset classes to see if it will work, you shouldn’t cross asset classes once you can’t mix everything up like that. You need to keep everything separate.
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My children are certainly welcome to join the family business if they want to, but the entire reason that we’ve set up this business is to allow them to do what they want to do and chase their dreams.
CONNECT WITH OUR GUEST
She’s the author of the book: Short-Term Rental, Long-Term Wealth: Your Guide to Analyzing, Buying, and Managing Vacation Properties
If you want to buy a short-term rental using agents in any of our 15 markets, go to: https://theshorttermshop.com/
Podcast: The Short-Term Show
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