Shownotes
Avery Carl – Affiliate Broker at eXp Realty and is a top 1% agent and vacation rental expert. Avery Carl talks about getting her start in real estate with one short-term rental, expanded that into five, and has now used the cash flow from those rentals to construct a portfolio of 18 long-term rental units.
Post-Interview Analysis
- Key Lessons Learned: You can get creative with how you finance real estate. Don’t let your limiting beliefs about vacation rentals stop you.
- How did they acquire their knowledge or what knowledge did they need to acquire? She learned a lot from actually doing it on her own.
- How much money did it take to get started? She spent $175,000 on her first property and put 10% down, and she spent about $3000 to rehab for a total of about $21,000 all-in.
- How much time does it take now? She only spends about a few text messages a day answering questions.
- Could they do this strategy from anywhere in the world? You can do it from anywhere if you have boots on the ground and systems in place.
Episode Highlights:
- Schedule a video chat with Neil Henderson at roadtofamilyfreedom.com/connect
- Neil introduces Avery Carl.
- Avery Carl shares what her ‘a-ha’ moment was in getting started in real estate.
- What did she purchase her first property for and how much money did she have to pay all in?
- When and where was this property purchased?
- Did she use a HELOC on the first or the second property?
- Does she have any advice for using a HELOC?
- Has she helped any other clients navigate HELOCs?
- What would a fixer-upper property go for in that area now?
- Does she have any tips for furnishing a short-term rental?
- Are there any furnishings that she believes you must-have for a short-term rental?
- How does she navigate maintenance with hot tubs and pools?
- What type of insurance is she using?
- Has she ever had a bed bug issue?
- How does she help cleaners not mix up which linens to which beds?
- Does she have a method for what her expense ratio is going to be on a property?
- What expenses often get overlooked?
- What are some of the other key team members for short-term rentals?
- Are there tools that she uses to leverage her time and for revenue management?
- How did she structure her partnerships?
- What are some big lessons that she had to learn in this market?
- How does she roll her cash flow from short-term rentals into long-term rentals?
- Is she buying properties right off the MLS that are ready to go?
- What is Avery Carl’s goals and are there loans on the properties?
- Stay away from syndicators that want you to take a course before you invest with them.
- How is she able to help potential investors succeed?
- What type of time investment is Avery typically making?
Books and Resources Mentioned:
