Like any other kind of real estate business, starting a rental property empire requires a lot of work to lift it off the ground and manage it towards success. Fortunately, you can somehow make things easier by learning from the experts.
One of the best people who can help you start on the right foot is Avery Carl. As the owner of the Short Term Shop, Avery was named by the Wall Street Journal and News Week as one of the top real estate agents in 2020. She also speaks at the Real Estate Masters Summit (REMS), along with other industry leaders, sharing her secrets to being successful in her respective business.
If you want to learn the strategies and techniques that will take your rental business to the top, you might want to listen to Avery Carl at the summit.
Who Is Avery Carl
Avery Carl is a realtor who owns an agency that has been helping property investors find the most profitable rental investments in the most ideal locations in the US. As an investor herself, Avery has a portfolio of more than 30 properties and has sold over $200 million in short-term and vacation rentals since 2017. Also, she has been connecting investors with investment properties with the highest potential of return on investment (ROI).
Her reputation is backed by positive Avery Carl reviews that you will find on popular real estate sales and listing sites, such as Zillow, Birdeye, and BiggerPockets, and Proven Expert.
What You Can Learn from Avery at the Summit
The best Real Estate Masters Summit Avery Carl strategies and techniques that you will learn is how to start a short-term rental business even with small capital. But first, you should know how this type of asset is different from other investment properties.
Short-Term Rental Property: What It Is
By basic definition, a short-term rental property is a townhome, apartment, condominium unit, or any residential space that you can rent out to guests or tenants on a lease term of fewer than 12 months. As an investor, you should not have the intent to live in it.
In the past, the business of short-term rentals was just a side-gig for people who want to earn extra income. But now, it has transformed into a booming industry that has produced millionaires who now have their own rental empires.
Now, if you want to jump on the bandwagon and buy the most lucrative investment properties in the best locations, you should work with Avery Carl real estate agent company.
How Profitable Is a Short-Term Rental Property
You might be wondering exactly how profitable rental property is. You will surely get the best answer to this question from Avery Carl at the summit. After all, she is a sovereign authority in this sector.
Regardless, this type of investment will surely give you the best ROI if you manage it properly. Here are things to keep in mind:
- Invest in a place that sees high tourism activity all year round.
- Know the local laws and regulations governing short-term rentals and Airbnb, as these could limit your property’s ability to generate income.
- Have a good marketing strategy in place and a clear vision of how you are going to advertise your property to potential customers.
- Set the right rental rate.
- Consider seasonality. There will be high and low seasons. So, adjust your pricing to maintain occupancy.
- Use direct bookings to reduce the commission you pay to online travel agencies (OTAs).
Aside from these, there are more actionable things that you can do to generate the amount of income that you want to receive from your rental.
How to Run and Manage a Short-Term Rental
Owning a short-term rental might be an easy way to make money, but it still requires the right investment strategy. That is why you should take the time to listen to each Avery Carl podcast and read other resources to learn the most effective techniques to do so.
Basically, you need to:
- Make sure your property generates a steady cash flow.
- Market your property to attract more bookings (you will get a good idea of how to do this by listening to Avery as a Real Estate Summit speaker).
- Do the necessary maintenance.
- Provide good customer service.
If you are operating in a highly competitive market, you need to up your game and go beyond pleasing your guests. This could include going out of your way to address all their needs and make their stay and experience more memorable. This way, you get better reviews and encourage repeat bookings.
Where Shall You Buy Your First Rental Property
Well, this question is best answered by the experts, as well. But you should keep in mind that some cities are more favorable to this type of investment than others.
Industry leaders, such as Avery, know the market like the back of their hands, and they can point you to the best investment rental opportunities out there. With their input, you can assure yourself that the property you are buying will create a steady cash flow, generate the ROI that you are looking for, and give you a good sale price should you sell it in the future.
However, you should also remember that not all agents are created equal. While some have your best interest at heart, others cannot deliver what they promise.
As for Avery, you can check out Avery Carl BiggerPockets and other real estate agent review sites to know what her clients are saying about her.
Takeaway
Owning and managing a short-term rental property is a great way to earn passive income. And, by listening to Avery Carl at the summit, you will learn the skills and knowledge, as well as develop the prowess, to make it a very successful business and grow it into a real estate empire, from which you can earn thousands of dollars per month.
So what are you waiting for? Sign up to the summit now for free and listen to the superstars reveal their money-making secrets.
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