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February 19, 2021

How to Make Money with Short Term Rentals, with Avery Carl

Episode 245:

Avery Carl bought her first rental property at age 26 on a $37,000 salary. Through
strategically investing in short term rental properties in mature vacation rental markets, she was a millionaire by 31. She now owns a portfolio of 24 properties and is the CEO and founder of the Short Term Shop, a real estate team that helps investors acquire short term rental properties in the most recession-resistant markets, and trains them on the methods that led her out of the corporate rat race and into financial freedom.

What you’ll learn about in this episode:

  • How Avery got involved in short-term real estate in mature vacation markets, and how she learned to maximize income from her properties
  • What differences are found between AirBNB and destination vacation rentals, and why many different factors impact the profitability of a property
  • How Avery works closely with new, unseasoned investors, and what options are available for getting started without a down payment
  • What kind of numbers you can expect from a vacation rental property, with example numbers to help you determine what would make a great rental
  • How Avery manages her short-term rental properties and deals with maintenance issues or other problems that might arise without the expense of a property manager
  • Why it is important to trust your instincts, believe in yourself, and find a way to make it happen and go for your goals
  • What mistakes Avery has made over the course of her experience in short-term rentals, and what lessons she learned
  • Why the first step to getting started is to research the area’s short-term rental regulations and requirements and ensure you aren’t violating HOA rules
  • How “channel manager” platforms can streamline and automate a lot of your communication with guests to minimize the time you spend

Resources:

Additional resources:

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