Short-Term Profits Lead to Long-Term Wealth with Avery Carl

|
Short-Term Profits Lead to Long-Term Wealth with Avery Carl

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:

About the author, Neil

Neil Henderson is the co-host of The Road to Family Freedom, a self-storage investor, and avowed proponent of short-term rental house hacking. He founded The Road to Family Freedom to guide busy parents to financial freedom through passive real estate investing.

Tagged