The Short Term Show How to leave 2 6-Figure Jobs with Vacation Rental Investing
Pavan Mediratta and his wife Tracy left their corporate jobs - “retiring” to manage their vacation rental business with greater success than they imagined possible. Their business has boomed because they continued to make great purchase decisions and continued to self-manage all their properties.
In today’s episode, Avery Carl picks Pavan’s brain about topics ranging from his short term rental buying decision-making process to choosing a housekeeper. He shares insight into the way he negotiates for a property in the current extremely competitive housing market to make sure he gets the properties he wants. There are few people with his level of experience in the vacation rental market so this episode is once again brimming with great advice for new and experienced investors alike.
Discussion Points
- How Pavan Mediratta got started in short term rentals
- The markets they focus on
- The important things to consider when managing a rental remotely
- Finding the right housekeeper
- How to deal with cleaning and maintenance problems
- Changing from long-term rentals to short term rentals
- Walking away from a steady income
- Choosing a unit according to its size
- Identifying a market to go into
- Good markets/deals in the past vs current market conditions
- Advice for “young Pavan”
- Favourite Book
- Dispelling limiting beliefs of new investors
Resources
The Short Term Shop University