How Avery Carl builds long term wealth through short term rentals

Avery Carl is a seasoned real estate investor and a co-founder of The Short Term Shop. Avery specializes in connecting investors with short term rentals with the highest ROI potential and then training them to manage their short term rental from their smart phone from anywhere in the world. In this episode, Avery tells us about short-term rental strategy, hot markets, returns, and what you should know about short-term rentals in contrast to long-term rentals.     https://theshorttermshop.com/  --- Transcript Before we jump into the episode, here's a quick disclaimer about our content. The Remote Real Estate Investor podcast is for informational purposes only, and is not intended as investment advice. The views, opinions and strategies of both the hosts and the guests are their own and should not be considered as guidance from Roofstock. Make sure to always run your own numbers, make your own independent decisions and seek investment advice from licensed professionals.   Michael: What's up everyone? Welcome to another episode of The Remote Real Estate Investor. I'm Michael Albaum and today I'm joined by Avery Carl, distinguished author, speaker, investor, agent, mortgage broker, she does it all and she's going to be talking to us today about things you need to be aware of when looking for short term rentals. So let's get right into it.   Avery Carl, thank you so much for taking the time to hang out with me today. I really appreciate you coming on.   Avery: Thank you so much for having me.   Michael: No my pleasure. So I think a lot of our listeners probably already know who you are. You've got quite a bit of notoriety behind you. But for anyone who's not familiar, can you give us a 32nd elevator speech on who you are, where you're come from and what it is you're doing real estate?   Avery: Yes, yes. So my name is Avery Carl, I am the author of Short Term Rental Long Term Wealth of about investing in short term rental properties. I'm a real estate investor, I own 100 doors, but eight of them are short term rentals. And I was able to scale from zero to 100 doors over the course of about five years with a starting salary of $37,000 a year. Because I invested mostly in short terms at the beginning of my portfolio. So since those cash flows so much heavier than long term, I was able to scale much more quickly than if I'd started with traditional long terms.   I also own the Short Term Shop, which is a real estate agency that focuses exclusively on working with short term rental investors where not only do we act as the real estate agents to help them purchase their property. We also teach them everything they need to know about managing their property remotely. We help them get it all set up on the the listing sites and teach them the ropes of remote self management. We've helped about 4500 families, build some generational wealth through real estate investing there. And then I also, own co own The Mortgage Shop, which is basically the mortgage counterpart of the short term shop, we focus mostly on short term rental investors there as well.   Michael: Oh, that's awesome. So you were doing short term rentals before it was cool. It sounds like   Avery: Yeah, oh, just slightly before. Michael: That's awesome. And so what is it, you think that people need to know if they're just getting started in the short term rental business?   Avery: So I think the main thing to know is that it's you don't have to live in the city or even drivable to the city where you're investing, you can't always live in the best place to invest. So getting comfortable with long distance real estate investing, can make sure that you are able to make the most lucrative investment in short term rentals.   Michael: That makes total sense. And what a place to have you on The Remote Real Estate Investor. It's perfect. So how do you evaluate what a short term rental market looks like? Because doing the long term thing, I think is relatively easy. I can go o