517: 5 Pitfalls When Buying These “Crazy Cash Flow” Properties
BiggerPockets Real Estate Podcast
BiggerPockets
4.8 • 16.5K Ratings
🗓️ 12 October 2021
⏱️ 69 minutes
🧾️ Download transcript
Summary
Avery Carl is the go-to contact for short-term rental investing. Her business, The Short Term Shop and The Mortgage Shop not only helps find properties and secure loans for prospective short-term rental investors but also helps guide investors through their first vacation property purchase. While this type of property can be a cash flow king, it also takes more management and a bit more time upfront to get the system oiled and operating smoothly.
Since we last talked to Avery, she’s quadrupled her portfolio from twenty-something short-term units to ninety-six units, sixty-one of which are large multifamily properties. Avery gives an in-depth analysis on why short-term rentals should hold a place in every investor's asset collection, and the common pitfalls investors go through when purchasing their first short-term rental.
If you’d like to learn more about building wealth through short-term rental investing, grab Avery’s brand new book Short-Term Rental, Long-Term Wealth!
In This Episode We Cover:
Why having short-term rentals can help real estate investors mitigate risk
How Avery added over seventy more doors to her portfolio in under two years
The wrong vs. the right questions to ask when buying a short-term rental
The five things people need to avoid when making their first STR purchase
Why you may want to “bear-proof” your next cabin in the woods
Not being afraid to ask questions when investing
Why you should buy Avery’s new book Short-Term Rental, Long-Term Wealth
And So Much More!
Links from the Show
Check the full show notes here: https://biggerpockets.com/show517
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Transcript
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| 0:00.0 | This is the bigger pockets podcast show 517. |
| 0:03.1 | And to give you guys a little perspective into that in July, I had seven short term rentals |
| 0:09.7 | online. |
| 0:10.9 | We grossed $145,000 on short term rentals alone just for July. |
| 0:16.3 | Now you're not going to gross that much every month because seasons change and things |
| 0:20.5 | are a little bit different. |
| 0:21.5 | They're a little more fluid than in long term. |
| 0:23.2 | But that is like a CEO level salary that I would be paying a manager if I had my properties |
| 0:28.6 | with the manager. |
| 0:29.6 | You're listening to bigger pockets radio, simplifying real estate for investors large and |
| 0:34.9 | small. |
| 0:35.9 | If you're here looking to learn about real estate investing without all the hype, you're |
| 0:40.1 | in the right place. |
| 0:42.0 | Stay tuned and be sure to join the millions of others who have benefited from bigger pockets.com. |
| 0:47.9 | You're home for real estate investing online. |
| 0:51.1 | What's going on everybody? |
| 0:52.4 | I will be your host today. |
| 0:54.6 | David Green, Brandon, won't be joining us so I actually get a chance to talk on the microphone. |
| 0:59.7 | Pretty cool. |
| 1:00.7 | Today we have an amazing guest. |
| 1:02.1 | We've had her before. |
| 1:03.1 | Her name is Avery Carl. |
... |
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