Get Max Cashflow from Buying Vacation Rental Property with Avery Carl

Episode: Buying Vacation Rental Property with Avery Carl

Guest: Avery Carl is the founder of The Short Term Shop.  Their focus is managing & buying vacation rental property in stable, long term vacation rental markets.

Big Idea: “What can we buy to make the most amount of money possible so that we can buy more properties quickly?”  asked Avery as she was building her rental portfolio early on, she found herself with enough capital for just one more down payment.  The answer to the question led her to buying vacation rental property throughout Florida, Tennessee and Alabama.

Avery now runs The Short Term Shop and has closed more than 350 vacation rentals for her clients.  Her done-with-you approach allows investors to maximize their income while managing from afar.  She created the STS University to help new vacation rental owners learn the ropes.  It it possible to effectively run your investment from 500 miles away?   Listen to find out.

  

Dan Breslin: Welcome to the REI Diamond Show. I am your host Dan Breslin and this is episode 184 on buying vacation rental property with Avery Carl. If you’re in the building wealth through real estate investing, congratulations, you are in the right place. My goal is to identify high caliber real estate investors and other industry service providers invite them on the show and then draw out the jewels of wisdom those tactics mindsets and methods used to create millions of dollars and more in the business of real estate.

Today we are joined by Avery Carl. Avery runs the Short Term Shop, a high-volume boutique real-estate firm focused on short-term vacation rentals. We cover exactly what’s needed to get into and profitably operate a vacation rental. We also talked about a few of the hottest vacation rental markets in the US and why those markets tend to be a more stable investment over the long term and finally, we discussed a few reasons why adding a vacation rental or two or three is a perfect start or addition to any real estate investors portfolio. No matter where you’re currently located. Let’s begin. All right Avery Carl, welcome to the REI Diamond Show. How you doing today?

Avery Carl: Pretty good. How are you?

Dan: I am doing well. So we’re just the beginning of February here for a timestamp. I am curious where you are recording from in the country and what the weather is like there currently?

Avery: I am recording in 30A, Florida so Panhandle of Florida and it is about 65 degrees.

Dan: Is that cold for you guys there?

Avery: Yeah.

Dan: Yeah. We’re getting the polar vortex here in Chicago and we have the ice shelf forming out the window here and it’s cold. It’s making me want to jump in the car and drive to Florida and spend some time in a vacation rental, which the’re all pretty much booked up in Florida right now. We checked but we all get to all that in a moment. So Avery, do you want to start out by telling us how you got started in real estate? And what does your primary business model look like today?

Avery: Absolutely. So I kind of ended up in real estate and real estate investing by mistake or not by mistake. I just kind of fell into it, my husband and I moved to Nashville, Tennessee in 2013 from New York City. And, obviously, we who can’t afford to buy something in New York City when you’re just starting out so we moved to Nashville so that we could buy a house and have some space. And, when we got there I didn’t have my real estate license yet. I was working as a marketing manager in the music business and our real estate agent was trying to get us to buy in this really hip superfast depreciating area of Nashville, and we didn’t really want to do that because we were just coming from Brooklyn really tired of neighbors.

Episode Sponsored by the Deal Machine:

Driving for Dollars Software to Build a Team of Drivers, Manage Routes, & Even Automate Marketing.  Free Access at  http://REIDealMachine.com/

Resources mentioned in this episode:

www.TheShortTermShop.com

Avery & I Discuss Managing & Buying Vacation Rental Homes

  • Selecting the Right Property for Max Income

  • The Bigger the Loan, the Better the Deal

  • Secrets of Self Managing Vacation Rentals

  • How to Get Favorable, Very Low Rate Financing


  

Relevant Episodes: (There are 184 Content Packed Interviews in Total)

The transcript of this episode can be found here.
Transcripts of all episodes can be found here.

Avail the Free Property Management Platform with Laurence Jankelow

Laurence & I Discuss:

  • Cycle of a Landlord-Move in to Move Out

  • Automate every step of the process

  • Auto-pay tenants ACH

  • Credit Report, Background, & Lease Signing Online


Listen Now:

Google Play

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Relevant Episodes: (There are 161 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.Avail.co

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

 

Scaling Your Business through A Players with Mike Matalone

Mike & I Discuss:

  • Definition of an “A” Player

  • System for Attracting & Onboarding Talent to Stay

  • How to Make Better Hires

  • Training for the job hired is a Mistake…


Listen Now:

Google Play

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Relevant Episodes: (There are 160 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.XP3Talent.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Turn Key & BRRR-Key Rentals with Ali Boone

Ali & I Discuss:

  • Birth & Death of Turn Key Rentals in Many Markets

  • Best Markets in U.S. for Expected Appreciation

  • Importance of Buying Right

  • How to Mitigate Risk of Buying from the Wrong Provider


Listen Now:

Google Play

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Relevant Episodes: (There are 149 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.HipsterInvestments.com/diamonds

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Why Single Family is Better than Multi-Family for Building Wealth with Greg Rand

Greg & I Discuss:

  • Reasons Why Single Family is Better than Multi Family

  • Considering Liquidity when Investing in Real Estate

  • Data Points for Selecting a Market

  • Greg’s Favorite Single Family Real Estate Markets


Listen Now:

Google Play

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Relevant Episodes: (There are 144 Content Packed Interviews in Total)

Resources Mentioned in this Episode:

www.RentersWarehouse.com

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

 

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “Become a Wholesale Real Estate Master”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Jim Huntzicker on Buying REAL DEALS through the MLS

Buying Real Deals on the MLS

Jim & Dan Discuss:

  • Selecting the Right Markets for Fix & Flips Deals

  • Price Point to Search & Win Deals on the MLS

  • Script & Process for Presenting Profitable Offers to Agents

  • Solid Productivity Strategy for Busy Real Estate Pro’s


Listen Now:

Google Play

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 Mentioned Episodes: (There are 78 Content Packed Interviews in Total)

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Matty A on Flipping 30 Houses Per Year

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Matt & Dan Discuss:

  • Source of Deals for both Agents & Fix/Flip Investors

  • Market Data to Watch to Know When Market is Going Down

  • How to Shift Your Model to Prepare for a Coming Real Estate Market Change


Listen Now:

Google Play

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 Mentioned Episodes: (There are 77 Content Packed Interviews in Total)

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Robert Gilstrap on Subject-to Investor Deals & Property Management

Property Management

Robert & Dan Discuss:

  • Buying Property Using Existing Financing

  • 3 Keys to Selecting the RIGHT Property Manager

  • Why Equity is Fiction

  • The RED HOT Atlanta Market


Listen Now:

Google Play

stitcher

Mentioned Episodes: (There are 74 Content Packed Interviews in Total)

Do You Know Anyone Else Who’s a Real Estate Investor? 

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Linda Liberatore on Outsourcing MOST of Your Property Management

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Linda & Dan Discuss:

  • Automating Rent Invoicing & Collection

  • Reducing Your Time Commitment to Your Rental Portfolio

  • How to Control Repair Costs by Utilizing Your Vendors instead of the Management Company’s


Listen Now:

Google Play

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Resources Mentioned in this Episode:

Linda’s Company-Secure Pay One:

www.SecurePayOne.com

Relevant Episodes: (There are 71 Content Packed Interviews in Total)

Do You Know Anyone Else Who’s a Real Estate Investor? 

Or Maybe they’re Trying to Become a Real Estate Investor?

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.

Kirby Atwell on Real Estate Investing through Veteran Housing

Luxury Home Investment

Kirby & Dan Discuss:

  • Investing in Veteran Housing to Combat Veteran Homelessness

  • Why the Veteran Demographic has Grown Over the Past 10 Years

  • How to Get Started with Section 8 Housing or Veteran Housing Voucher Programs


Listen Now:

Google Play

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Resources Mentioned in this Episode:

www.GreenVetHomes.com

 

Shawn Terry’s Podcast ( http://www.flip2freedom.com/category/podcast/ )

 

Mentioned Episodes: (There are 69 Content Packed Interviews in Total)

 

Do You Know Anyone Else Who’s a Real Estate Investor? 

Or Maybe they’re Trying to Become a Real Estate Investor?

Do You Think they’d Also Enjoy this Episode?

Please Forward this Link & Tell Them to:

Sign Up for the REI Diamonds Weekly Podcast Your Copy of “7 Sources of Off Market Deals”

Just Go to www.REIDiamonds.com to Download a Copy & Check out Recent Popular Episodes.