If you think short term rental investing has been hit hard by COVID19, think again! You can build extra capital investing in short term rentals in more rural areas, which has skyrocketed since May of 2020! This switch is due to people working from home wanting to get out of their house and enjoy different surroundings. They don’t want to fly but will drive up to 8 hours to rent a house, cabin, or apartment (with good internet) for a couple of weeks.
Today’s guest, Avery Carl, joined a Punk Rock band during college, and when she graduated in 2008 and couldn’t find a job, she decided to tour. During her travels, she met her husband and settled in New York. She soon discovered that she was not a good employee and looked to real estate investing in getting herself out of the rat race.
Today, Avery is the Founder of The Short Term Shop, winner of the Greater Nashville Association of Realtors Rookie of the year award, and has been in real estate since 2017. Her team works exclusively with investor clients, with a focus on short-term rental properties. They serve the Nashville and Great Smoky Mountain markets in Tennessee and the Panama City Beach and Destin areas in Florida.
Avery and I discuss how she started in short term rentals and how she helps her clients find the most profitable properties with excellent cash flow. We talk about the markets that are hot right now, what to look for in short term rentals, and how to manage those properties remotely.
- Balancing short term and long term rental portfolio based on passive income goals
- How to build extra capital by investing in short term rentals
- Why real estate agents don’t specialize in any kind of niche real estate opportunities
- How to start with investments from friends and family to growing a business.
- The punk rock tour route to real estate investing.
I realized I wasn’t a good employee, and investing was a good way to get out of the rat race.
- Her first short term rental deal
- Learning how to do short term real estate investing the right way
- The markets to focus on for short-term rentals.
- The business model: Real estate team brokered by EXP Realty
- Should you have a property manager for a short term rental?
- Using automation tools for short-term rental property management
- The benefits of short term rental investing vs. long term rental investing.
- Who won’t do well in short term rental investing
- Understanding the short term rental market during COVID19
COVID caused a boom in the short-term rental business
- Where the short term rental market will go in the next 5 to 10 years
- Tips to a healthy diversified portfolio
- The benefits of C-Class investments
- How to transition from traditional real estate investing to short term investing.
Avery’s Book Recommendation:
Trust Me, I’m Lying: Confessions of a Media Manipulator (Ryan Holiday)
Get in Touch with Avery: