364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery Carl

Jan 9, 2020

Avery Carl, a savvy short-term rental investor, shares her wealth of knowledge on navigating the STR market. She reveals how she manages five properties in under 30 minutes a week using apps and systems. Discover her tips on self-management versus hiring pros, as well as her strategies for effective marketing and handling online reviews. Avery also discusses buying properties with just 10% down and the importance of diversifying investments. Tune in for actionable insights that make short-term rentals profitable and manageable!

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INSIGHT

Market Selection

Target mature vacation rental markets (e.g., Gatlinburg, Pigeon Forge) over metro markets.
Mature markets offer stability due to established rental history and regulations.

ADVICE

Long-Distance Vacation Rentals

Invest in long-distance vacation rentals like local properties.
Hire a cleaner, handyman, and utilize a smartphone for management.

ADVICE

Finding Local Help

Find reliable cleaners and handymen by networking with other owners on platforms like Airbnb and VRBO.
Leverage existing contacts to expand your network of local service providers.

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Ever been interested in making money with short-term rentals but feel there’s just too much you don’t know? Welcome to the club!

On today’s show, Brandon and David interview Avery Carl, a short-term rental (STR) investor who opens up the playbook and shows us what she’s doing and how she’s doing it! Avery shares the apps, software, and systems she uses to manage five STRs in under 30 minutes a week!

You’ll love her thoughts on self-management versus using a professional company, avoiding negative online reviews, and properly marketing your properties to maximize revenue. She also discusses how she diversifies risk in her portfolio, why she buys properties for 10% down, and what expenses she accounts for when analyzing deals that come across her desk.

Avery shares some fantastic insight into how to run a STR business with minimum time and intrusion, as well as some overall advice for knowing your market and minimizing your risk. Download this episode of the BiggerPockets Real Estate Podcast and see for yourself today!

In This Episode We Cover:

Where she’s currently buying
How she balances running a real estate team with investing
How she created systems to help manage her portfolio of vacation rental properties
The difference between self-management and using a management company
How she manages negative reviews online
Her advice for marketing your STR
The apps she uses to automate the STR business
How she buys her STRs with 10% down
What expenses she factors into her numbers for STRs
How she protects her investments from a possible recession
How she diversifies her risk between long-term and short-term rentals
How she uses her first properties when buying additional properties
And SO much more!

Links from the Show

BiggerPockets Forums
BiggerPockets Real Estate Podcast
The Grey (movie)
Airbnb
iGMS Vacation Rental App
BiggerPockets Podcast 245: Creating Wealth that Lasts Generations with Bestselling Author Ryan Holiday
BiggerPockets Podcast 108: Building a $350 Million Real Estate Empire Using the 10X Rule with Grant Cardone
Email Us for Pro Deals: podcast@biggerpockets.com

Check the full show notes here: http://biggerpockets.com/show364

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