122: 96 Units in 5 Years By Combining Long & Short-Term Rentals

Real Estate Rookie

BiggerPockets

How To, Education, Business, Investing, Entrepreneurship

4.8 • 1.7K Ratings

🗓️ 16 October 2021

⏱️ 50 minutes

🔗️ Recording | iTunes | RSS

🧾️ Download transcript

Summary

Five short years ago, Avery Carl didn’t own ninety-six rental units. She didn’t have her real estate license, she hadn’t founded The Short Term Shop or The Mortgage Shop, and she did not have a book written on short-term rental investing. But now, Avery has all those things, and she did all of them in only half a decade. Avery’s first venture into real estate started by her saving up every penny she could to buy a property in Nashville. After some success, she asked, “what’s the most bang for my buck in real estate?” The answer: short-term rentals. Seven of her units alone brought in over six figures in just July, proving her point that vacation rentals are a necessary part of any investor's asset collection. Now, she manages her own short-term rentals and long-term rentals, she also helps teach others how they too can start investing in short-term rentals and even goes as far as to help them to get financing. All of this was done in a very short time period, and all of it proves that hard work can fuel financial freedom through real estate investing. Click here to listen on Apple Podcasts. In This Episode We Cover What to look for in a short-term rental or vacation rental market Why short-term rentals are far more active investing than long-term rentals Staying up to date on your city’s short-term rental laws and regulations The software and systems Avery uses to analyze a deal 1031 exchanges and using them to massively grow your portfolio (tax-free!) Getting out of the fear of overpaying for a property through detailed analysis And So Much More! Links from the Show Real Estate Rookie Youtube Channel Ashley's Instagram Tony's Instagram Real Estate Rookie FaceBook Group BiggerPockets Podcast BiggerPockets Forums BiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery Carl The Short Term Shop The Mortgage Shop Airbnb VRBO Alpha Geek Capital Alpha Geek Capital Calculator Your Porter iGMS Smartbnb Airdna PriceLabs BiggerPockets Publishing Check the full show notes here: https://www.biggerpockets.com/rookie122 Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

Click on a timestamp to play from that location

0:00.0	This is Real Estate Rookie, episode 122.
0:04.3	We didn't even know anybody who owned Real Estate.
0:09.5	We just thought this sounds like a good idea and did it.
0:12.0	And luckily it was and by the way, we just 1031 exchanged
0:16.0	and turned that $20,000 down payment into $20,000 a month
0:19.5	on a 25-unit apartment building.
0:25.0	My name is Ashley Care and I'm here with my co-host, Tony Robbins.
0:29.5	What's going on, Ash?
0:30.5	How are things going on here a little today?
0:33.5	I have some sad news to let out for you and tell you.
0:36.5	So, my self-storage deal did die today.
0:43.5	Oh, man.
0:44.5	I'm so sorry to hear that, Ash.
0:46.5	So it went through a phase one.
0:48.5	It paid out the $3,500 for the phase one environmental study to be done.
0:53.5	It was highly recommended in the phase one to do a phase two environmental study.
0:58.5	That would have cost $6,500.
1:00.5	So my broker and negotiated with the sellers that they would pay for it if it failed.
1:07.5	I would pay for it if it passed and there was nothing wrong and continue.
1:11.5	Well, we needed them to extend the due diligence period to do the phase two.
1:15.5	Well, all of a sudden there was some kind of miscommunication
1:18.5	and the attorney said, no, they're not going to do that.
	...

Please login to see the full transcript.

Previous episode | Next episode

Disclaimer: The podcast and artwork embedded on this page are from BiggerPockets, and are the property of its owner and not affiliated with or endorsed by Tapesearch.

Generated transcripts are the property of BiggerPockets and are distributed freely under the Fair Use doctrine. Transcripts generated by Tapesearch are not guaranteed to be accurate.