The term “cute” has become more derogatory than complimentary, with the general populace attaching this adjective to things that are often brief, small, economical, or just plain short. People are more inclined to want/purchase/own BIG things, and anything less is NOT worth having. Sadly, this mindset carries over when people think of Real Estate Investing. Like somehow, the only way to achieve financial freedom is through huge properties being offered for long-term lease… That’s a major pitfall because for want of the “grandiose”, a lot of people miss out on opportunities! Because believe us, “cute” is the LAST THING you’ll think of when you see the ENORMOUS EARNING POTENTIAL of Short-Term Rental Property Investments. Take it from Avery Carl, who went from a 37k salary to a real estate investment portfolio of 100 doors in 5 years through strategically investing in short term and vacation rentals, which allowed her to grow her portfolio more quickly. She is the author of "Short Term Rental, Long Term Wealth," and the host of "The Short Term Show" podcast. She is the CEO and Founder of The Short Term Shop, a real estate agency that works exclusively with short term rental investors, and the Mortgage Shop, a mortgage company that focuses on short term rental investors. The Short Term Shop has not only connected investors with just under $1 billion in cash flowing short term rental assets, but also provides training on managing vacation rental assets remotely to all clients so that they can maximize their short term rental investment income. This allows them to reach financial independence and to grow their portfolio more quickly. What exactly are short-term rental properties and where do I find them? How do I snowball my investments into long-term wealth without local managers? If short term rentals make so much money, why do you also own so many long-term rentals? Learn more from the source! Check these out to learn more about Avery Carl and Short-Term Rental Property Investing: Website: theshorttermshop.comIG: @theshorttermshopPodcast: The Short Term Show Tune in to learn more about the hottest and most relevant information on real estate investing! Thank you all for listening and I will see you on the next episode. When you are ready head on over to https://billyalvaro.com or go grab your tools to help you at https://billyssecrets.com
The term “cute” has become more derogatory than complimentary, with the general populace attaching this adjective to things that are often brief, small, economical, or just plain short.
People are more inclined to want/purchase/own BIG things, and anything less is NOT worth having. Sadly, this mindset carries over when people think of Real Estate Investing.
Like somehow, the only way to achieve financial freedom is through huge properties being offered for long-term lease…
That’s a major pitfall because for want of the “grandiose”, a lot of people miss out on opportunities!
Because believe us, “cute” is the LAST THING you’ll think of when you see the ENORMOUS EARNING POTENTIAL of Short-Term Rental Property Investments.
Take it from Avery Carl, who went from a 37k salary to a real estate investment portfolio of 100 doors in 5 years through strategically investing in short term and vacation rentals, which allowed her to grow her portfolio more quickly.
She is the author of "Short Term Rental, Long Term Wealth," and the host of "The Short Term Show" podcast. She is the CEO and Founder of The Short Term Shop, a real estate agency that works exclusively with short term rental investors, and the Mortgage Shop, a mortgage company that focuses on short term rental investors.
The Short Term Shop has not only connected investors with just under $1 billion in cash flowing short term rental assets, but also provides training on managing vacation rental assets remotely to all clients so that they can maximize their short term rental investment income. This allows them to reach financial independence and to grow their portfolio more quickly.
What exactly are short-term rental properties and where do I find them? How do I snowball my investments into long-term wealth without local managers? If short term rentals make so much money, why do you also own so many long-term rentals?
Learn more from the source!
Check these out to learn more about Avery Carl and Short-Term Rental Property Investing:
Website: theshorttermshop.com
IG: @theshorttermshop
Podcast: The Short Term Show
Tune in to learn more about the hottest and most relevant information on real estate investing!
Thank you all for listening and I will see you on the next episode. When you are ready head on over to https://billyalvaro.com or go grab your tools to help you at https://billyssecrets.com
[00:00:00] BILLY: What's going on, everybody. Welcome back through the episode of unstoppable REI wealth. I'm your host, Billy Alvaro the unstoppable BA. And this is episode number 62, where I interview the short term longterm queen. Ms. Avery, Carl she's the offer of short term rentals. Long-term wealth. She also has a podcast. Of course, it's called the short term show. She has strategies where she's brought over in five years, just over a hundred. Uh, she has nine short-term rentals where she's literally making a small fortune. Now here's the kicker. She started off with next to nothing with a $20 a day budget. she forced her and her husband to live on $20 a day. They saved their money and in five years they amassed over 90 properties. They have another. 60 plus in the pipeline, that's going to bring them up to over 170 units that they're going to be owning. So you're going to learn a lot. She gives look, this whole podcast is about giving. She gives a ton of tools. If you want to start, grow and or scale your short term, Airbnb [00:01:00] rental game, she gives us a ton of quality content and information. So enjoy it. And, uh, again, I'm interviewing from Puerto Rico. I'm here for a month. So if you hear the wind. I see it's a little choppy on the screen. You got to forgive me because the internet here absolutely sucks, but this is living virtual and we're absolutely loving it. We here for a month and I can't wait to enjoy the rest of the time here. Take care of guys.
[00:01:22] Welcome to unstoppable real estate investing wealth. My name is Billy Alvaro, AKA the unstoppable VA former billion dollar mortgage banker gone bankrupt turned professional real estate investor where each week you'll learn the tools, strategies, systems, and secrets myself and other highly successful real estate investing entrepreneurs use to start, grow and scale their businesses, creating massive profits and how you can too. And we'll teach you how to put those profits to work. So you no longer have to get ready to finally experience financial freedom and generational wealth. Now let's [00:02:00] get started
[00:02:00] What's up? What's up. What's up everybody. Welcome back through the show of unstoppable REI Wealth I am your host, the unstoppable BA Billy Alvaro and I'm recording this today from sunny Puerto Rico, Pamwuai I'm here for a month loving the whole virtual lifestyle. This is like incredible that you can just get away when you set up processes and systems and you have the right people in place because you can go away. We travel about three months a year and, uh, this is just, it's incredible. What. Can do a few and your lifestyle. And that brings me to today's guest, Ms. Avery Carl Avery Carl is the author of short term rentals. Long-term wealth. She goes short to go long. She's also the host of the short term show. Avery, welcome to the show. And first of all, I want to apologize. I had to put you off last month when I had something to do, and I appreciate you coming on this month. Thank you so much.
[00:02:48] AVERY: Yeah, of course. No problem. Thank you for having me
[00:02:50] BILLY: well welcome in so listen, I love your story. I did some research. Only five years in the business and you have over a hundred doors already.
[00:02:58] AVERY: Yeah. We're actually under [00:03:00] contract on 69 more. So we're going to be, we'll be right at about 189 when everything closes.
[00:03:06] BILLY: I mean, I'm going to call you dude for a second dude. Like, how are you doing, like share your secrets. I know you have two different strategies that you're playing. You have the short-term game. I'm thinking that's an Airbnb. And then you have your long-term buy and hold rental. Like, how did you do what you did in a short five-year term timeframe?
[00:03:26] AVERY: Well, it was kind of by accident five of our first six. Real estate investing purchases were short-term rentals. And because the short-terms have, um, traditionally or typically will cashflow so much higher than just a, a single family longterm, we were able to scale much more quickly than if we'd started with only single family long-terms and, uh, we kind of ended up. Short-terms out of necessity, really. So we bought our first long-term rental and that was a great one. Actually, the mortgage on that was like 650 bucks a month. We were renting it [00:04:00] for 1500 bucks a month. So not bad at all for a little single family. And, uh, after we got our first rent check on that, we said, okay, This is amazing. This is something that we want to actually make a business out of. And then we started educating ourselves and listening to podcasts and reading books. We just pulled the trigger on that first one without doing any research. And luckily it was a really good one. So a big proponent of learning by doing, but definitely do more research than I did when I first started. But we had just a little bit of capital left. And so he said, well, what can we buy that will allow us to buy more of these things faster? Because we just had, I think. Maybe $30,000 left. So we landed on short-term rentals and we were living in Nashville at the time. And so we didn't want to do it there because the regulations are just terrible and they're always changing. So we didn't want to get ourselves in a pickle. So we said, well, where can we go buy a short-term rental, where it's the normal thing for people to go to this place and stay in. Vacation homes or vacation rentals rather than hotels. So [00:05:00] we had just come from a weekend camping trip in the smokey mountains. And we said, well, how about here looked at purchase prices, everything looked good. And back then, there weren't all the educators out there that there are now in terms of how to run a short-term rental remotely. So again, we kind of had to just teach ourselves how to do it, pull the trigger. The first one did really, really well scaled that to five of them over the course of about 18 months. And the rest is history
[00:05:26] BILLY: my God, my god so I want to get in now. Cause you, you, you gave a lot of information. First of all, you mentioned regulation. What kind of regulations? If somebody is getting into this short-term rental business, what should they be looking for in their research? Where they go into a new market
[00:05:39] AVERY: so you want to, and this is my strategy. It's not the right. And only way, there are people that do things differently that are having just as much success. But my advice is to buy in regional drivable vacation markets that have very little hotel presence. So areas like the smoky mountains in Tennessee or Destin, Florida, these are areas [00:06:00] where the majority of the tourism that comes to the area is driving in. So regional tourism, not national tourism necessarily. And. These are areas that don't have a lot of hotels. So everybody who comes to these areas, they're staying in short-term rentals. Like Dustin, where I live had vacation rentals before it had electricity. So because of that, the regulations in these areas are really, really established because vacation rentals have been around for a long time, decades, and decades. They didn't just pop up as of the inception of Airbnb and VRB. They've been around since before the internet they've been around since before TV and a lot of cases. So the regulations are very established and favorable because there are not a lot of hotels to get mad that they're losing market share. Like in Nashville, for example, that's kind of what happened, everyone who. Came on vacation to Nashville up until about like 10, 15 years ago, we're staying in hotels. Then all of a sudden Airbnb comes on the scene. All these investors are buying Airbnb properties, taking market share away from the hotels. Hotels are getting mad and then bringing it up in city [00:07:00] council meetings. Also there's a lot in Metro markets like that. There are a lot of. Primary homeowners who live in these markets, who their job does not depend on tourism. So even the primary homeowners in the regional drivable vacation markets, typically their business, if they're not retired is dependent on tourism in some way. So they kind of understand like, well, this whole area is dependent on tourism. We're dependent on this. So I recommend sticking to the regional drivable vacation markets, just because in most cases there are exceptions to every rule. The regulations are going to be very, very well established. The cities and counties will figure it out how to monetize short-terms decades ago to where it would be way too detrimental to the local economies to regulate against them. Now,
[00:07:42] BILLY: when you're going into a new market, do you contact the local municipalities to figure out what the rates are
[00:07:47] AVERY: yeah, absolutely. Yeah. Yeah. It's a brand new market that you've never really researched. You always want to call the county or the city directly and see exactly what their regulations are. Don't just take other [00:08:00] investors word for it. Sometimes other investors are operating, not within the rules. So obviously you want to network with other investors, but always get the regulations straight from the horse's mouth by calling the city or the county
[00:08:11] BILLY: so, is that your primary? Cause that leads me into another question about choosing your market. Is that the way in which you go about choosing the regional drivable type areas? Or is there anything else that you want to add to that
[00:08:21] AVERY: that's what I stick to. And so I, I grew up in Mississippi. So I started with areas that I was familiar with, that I came to with my parents growing up, where we stayed in a cabin or a condo or a beach house rather than a hotel. So that's kind of why I started in the Smokies. That's why I own stuff in destined in 38 Florida. But there are areas like that all over the country. So if you live in California, maybe it's big bear, uh, or which has some regulations happening, or if you're in New York, you maybe it's the Poconos. Skills. So anybody can kind of think of those places. I would start there and then work into the regulations because there are a lot of investors out there now that there's so much over education in the space happening [00:09:00] that they're like, oh, I've never heard of this random place in Ohio, but this one or few people on some forums said they're doing really well there. So let me go see about that. Yeah. They just jump in without really having any idea what's going on.
[00:09:13] BILLY: Yeah. All right. So this is good. Any idea I want to get into the next question, which is how do you go about analyzing an Airbnb verse? How you go about analyzing it for a long-term rental. Let's just stick with the Airbnb. Okay. we'll get to long-term rental in a second second. What do you do for that? Like, what's the analysis look like
[00:09:30] AVERY: so it's a very different process from analyzing a long-term or, you know, a multifamily where the rent is the rent and that's what it is every month, no matter who's managing it until you do a major upgrade. It's very, very easy to analyze something like that. With short terms, a lot of times the success and the performance of the property will be more dependent on how it's managed than necessarily the. Self. So for example, even if two people own the exact same property on the exact [00:10:00] same street, everything about it is the same and they manage everything about it. The same, except for one minor thing. Like minimum night stay, one person has a seven night minimum night stay. The other person has a three night minimum night. The three night, minimum night stay person is going to make more money just because they have less holes in their calendar. And that's just one little tweak. So with short terms, you have to look at as much market-wide data as possible. And kind of average that out and then analyze. So there are several places you can get market-wide short-term rental data. So Air DNA is one Rabbu R a bbu.com is another one. And then there is a tool called price labs that is do. A pricing manager is what you'll need to price your property once you close on it, that actually has a pretty cool function called the market dashboards where you can see like a 30 day snapshot of what properties have been doing. So you kind of have to pull market wide data from a bunch of different places, rather than just using the rental history because in the grand scheme of things, the rental history of a [00:11:00] property is just what one random property manager has been able to do with one random property. And if they're not managing it efficiently, And they're not optimizing it, then that property won't be performing. So it's a much more involved process than long-term analysis.
[00:11:16] BILLY: Yeah, no doubt. And you said those three real quick, those tools that you use to analyze one more time for the listeners,
[00:11:21] AVERY: Air DNA, Rabbu and price labs, market dashboards,
[00:11:27] BILLY: Price lab's market dashboards, all good stuff. Really? That goes at three good tools. If you want to get into this business, guys, you want to start checking out. You're going to do short term rentals. All right. So I understand now how to analyze. Here's a question that's coming into my mind. I know with regular long-term rentals fix and flip, even apartment buildings, you know, you can syndicate, you can raise private money on the Airbnb. Are you finding that you're going to private capital or other lenders out there will actually finance the deal based off the cash flows that it could produce.
[00:11:59] AVERY: There are a [00:12:00] number of ways you can finance. I always tell people a lot of new investors, they start listening to a lot of podcasts and listen to investors who do this for a living who are really, really experienced, who don't have any conventional loans left. So they are always going commercial or hard money or things like that. They're trying to do other things. I always tell new investors. If you can get conventional financing, knock out all those conventional loans that you get. You get 10, by the way, knock those all out before you start going crazy with other types of financing, because there's never going to be better terms than conventional. It's never going to be really easier to get a loan than conventional. There are products called DSCR loans, so that stands for debt service, coverage ratio. It goes, you're approved for that loan based off of what the property should be able to make more similar to a commercial loan. Whereas conventional you're getting approved based on your own debt to income ratio. But what I see with a lot of new guys is. They'll say, oh, well, yeah, the DSCR sounds great, but the interest rates really high. Well, yeah, of course it [00:13:00] is because the bank is giving you the loan basically on the idea that you're going to be able to manage it. Well. So I would say knock out all the conventionals that you have available to you first, unless you've got some sort of like a debt to income situation where you need to go commercial or portfolio, knock those out first and then go for the commercial portfolio DSCR Loans
[00:13:22] BILLY: and so those commercial portfolio DSR, I know they're big into single family Long term but they had them specifically for the Airbnbs as well.
[00:13:28] AVERY: There are a few companies, so, uh, that will do them, my mortgage company that I own, the mortgage shop actually brokers to a few of them. And they will typically have a higher interest rate. They're typically 20% down. So you can't utilize that 10% down vacation, home loan. There used to be several people who did the 15% down DSCR options, but those are kind of. They've gone awry without saying too much. So, uh, there's 20% options. Now. Typically the interest rate will be higher. And typically what I've seen with our real estate [00:14:00] sales clients at the short term shop is that the DSCR lenders will take at least 45, sometimes 60 days to close. So it can be a little bit difficult to get offers accepted with those types of timelines. But if you're able to meet those timelines, then by all means, yeah, DSCR is the way to go.
[00:14:15] BILLY: Yeah. I didn't know you were a mortgage person. Very cool. That was my. Yeah, because stuff. So talk to me now about the markets that you're in. Cause when I reviewed everything, you're in Tennessee, you're in the panhandle. You're in Omaha. You're in Alabama. Like you're scattered. It's this way you have. And majority of your short term, or is that we are long-term renters are
[00:14:34] AVERY: so the short-term shop my real estate team brokerage team underneath the XP. They get mad at me if I don't say that. So we work exclusively as short-term rental investors, we're on track to hit about a billion in sales this year. We're in 11. Regional drivable vacation market. So three in North Carolina, three in Florida, the Smokies and Tennessee. Gulf shores, Alabama blue Ridge, Georgia, crystal beach, Texas, and, uh, broken [00:15:00] bow Oklahoma. I do not invest in long-terms in the areas that I invest in short terms, because there are different types of markets that require different strategies. So I own short terms in the Smokies in Tennessee, Destin, Florida, 38, Florida and Cape sandblast, Florida. And then my long-terms RMS. I used to have several in Nashville. We cash those out 10 31 exchange. We've got a bunch in Chattanooga, some in Alabama, and then our apartment buildings are in the Midwest. And really the reason that we're in those rooms. Because we're familiar with them. So Midwestern market and, um, Nebraska, my husband's from there. So he's familiar with the streets and the areas and things like that. I would never try to short-term any of my long-terms. I like my long-terms in medium-sized Metro markets where there's some growth happening with jobs, you know, I'm sure there's plenty of people who've been on here. We've talked about that, but my short terms are typically the vacation market, so it just wouldn't work, purchase price wise, like, you know, the [00:16:00] average purchase. For a property in the smoky mountains is like 600,000 for a single family. Well, that's not going to work as a longterm. So, and then I wouldn't try to short-term any of my long-term properties because they're in Metro markets and they're subject to the changing regulations from primary homeowners.
[00:16:17] BILLY: How are you, um, are you self managing or do you have management companies doing this for you in the market sharing? The short term
[00:16:23] AVERY: For long terms, we use management companies all day for short terms, if you're truly trying to utilize them to grow your portfolio and really trying to bootstrap and scale, the really only way to go is to self-manage because the average property management split in short term is about 25% typically. And some of them will even quote 25%, but it ends up being like 32% with added fees and stuff. So to give you guys an example, What that looks like I've got nine short-term rentals. Now eight had eight of them last year, and two of them weren't even online for a full year. If I paid a management company, 25% of [00:17:00] my gross last year, I would've paid someone $200,000. So. Yeah. As a real estate investor, I can think of a lot better things to put that 200,000 into. Then that's something that I can basically do from my phone with a few apps and property management tools.
[00:17:16] BILLY: So tell me what utilizing, how are you managing eight, nine properties now in the short term, what's the process like, first of all, how do you get tenants in, how do you manage the maintenance of the properties? How do you keep up with the cleaning? Like walk us through that
[00:17:28] AVERY: sure. So in terms of where you post your property listings to rent, you really only need Airbnb and VRBO, there are some other tools, but we get so books from just those two, we don't complicate our lives with further or other platforms. There's two. Apps that you'll need to be able to manage and streamline your first one is going to be your property management software. There are a lot of different ones to choose from. We use to be called your Porter. Now it's called Guesty for hosts. There's another one called owner Rez. There's another one called IGMs. They all do basically the same thing, which is they [00:18:00] pull all of your listings on all the platforms into one dashboard. So you can manage everything really easily. And the really the most important thing that they do is they automate a lot of the communication with. So you set up your automations to make sure that they're answering all the FAQ's that a guest could possibly have before they even ask it a it's automatically sending their door codes and check-in instructions the day before check-in automatically sending the checkout instructions that they before checkout. So that automates a lot of it. It also automates your cleaner. So it will sync with whatever calendar app, your cleaners using Google ICAL et cetera. And when someone books on any of those platforms that automatically puts an event on your cleaners calendar that says, Hey, you have to clean this day. So that automates, and then you also need a pricing tool. So we use price labs. There are a few other ones, wheelhouse beyond pricing, and that is going to optimize your pricing. So that tool is always analyzing past booking information, current booking, information [00:19:00] prices, uh, events happening in the areas so it's dynamically pricing you to get you the highest amount possible per night.
[00:19:08] BILLY: That is very cool because we used to have, we had a lot of short term rentals and we had a company that was doing it for us. They didn't manage per se the, the property, but they manage the booking part. They took 10% and they said that they were, they had an engine. They created that was dynamically figuring out what was the best pricing schema. And we were always booked and we had these, these properties, but I never, I don't know. I, this is actually really good information. You're giving me a total. I'm like, I'm loving this podcast because I'm learning. I don't usually learn until after the podcast, but I'm really learning a ton from this conversation. I appreciate it. Yeah. This is good stuff. So, um, all right. So you, have you, have you automated with, uh, you said one of them was like, uh, communication with the guests it's automation, it automates everything, which is guesty you said? guesty the okay. Price labs.
[00:19:53] AVERY: Yeah. Yeah, just a property management software, which is the Guesty IGMs, all that stuff. And then a pricing tool.
[00:19:59] BILLY: Yeah. [00:20:00] And then, so you have your, your cleaners automatically and this, what about maintenance issues? Pictures, like does your cleaner come in and take the pictures and make sure everything was good after the people left? Or do you have another person that comes in that does the checks to make sure that nothing was broken or missing
[00:20:16] AVERY: typically your cleaners will be your eyes and ears on that kind of thing. And if they see anything that's broken or needs to be replaced or anything like that, like, Hey, your towels are getting ready, then they'll let you know. And then if it requires calling a separate vendor, like a handyman or HVAC technician or whatever, then that is something that you kind of have to jump in there and make the phone call. But a lot of people mistakenly think that they need to live. Driving distance from their short-term rentals in case some of that stuff happens. But I mean, if something breaks, like if a toilet breaks at my place in Tennessee, I'm going to do the exact same thing as if a toilet breaks in the bathroom behind me, I'm going to call somebody cause I don't fix toilets. So it's just kind of a mindset thing of, even if this was right here next to me, I would still be making a phone call. [00:21:00] If it's in Tennessee, I am also making a phone call. I
[00:21:03] BILLY: love it. So let me ask you. The scaling of the eight or nine properties that you did, did you bring in any private investors to marry them with straight financing in the front to scale this thing? Or is it like, yeah. Talk about that.
[00:21:16] AVERY: Yeah. So I'll tell you exactly how I did it. So the very first one that we got was a 10% down vacation, home loan in my husband. Uh, second one was a 15% down, conventional investment loan in my name. And on that one, I cashed out my 401k because I had been working in my corporate job, you know, not terribly long. There wasn't much in there. It was a 15% down investment loan. In my husband's name, we go back and forth. You could see a pattern here and on that one, we got a HELOC on our primary home at the time. So we use that for the down payment and then pay that back basically immediately. And then on the last two, we were out of DTI. You run into eventually with conventional financing. So we brought in a partner and the way that we structured [00:22:00] that. So he was a friend of ours that we actually met drinking Margarita's on a cruise. And, uh, he owned short-term rentals in siesta, key Florida. So he was already familiar with the business was kind of intrigued by doing it in the smoky mountains. So we did. Standard money person, sweat equity, person partnerships. So he got the loan in his name and we did all the setup and all the management. We had what we called a mini mortgage with him, where we were paying X amount to him per month until what would have been our half of the downward. Paid back. And then it was a straight 50 50 from there. So we're doing all the management and he's just collecting the money, splitting it 50 50. So we did that on the last two of those first five, and then about two and a half years later, we were ready to get out of that partnership. Not because it went bad, it was great, but we were just ready to move on. We didn't need the quote training wheels anymore. And we were able to 10 31 exchange. Our buyout proceeds into a bigger property on that. So now we have a [00:23:00] bigger short-term rental instead of those two smaller ones.
[00:23:03] BILLY: Real nice, very creative too, by the way, he put up all the money. He put up the down payment, put the loan in his name and then over X amount of time for him, you guys pay him back to make you guys equal for the down payment. Very creative. Love it. Yeah. That's your mortgage background for sure. For sure. All right. Let's uh, let's switch gears. Now you have how many long-term rentals in your portfolio
[00:23:23] AVERY: so as of right now, what we have closed is 105 doors and eight of those are short-term. So that's 97 long-term doors,
[00:23:33] BILLY: 97 long-term. And you said you have another 40, 50 or 60 in the pipeline that you going to close over the next X amount of months
[00:23:40] AVERY: yeah. So we have a 68 unit deal. We have one short-term rental and then we have seven duplexes under contract right now.
[00:23:47] BILLY: All right. So talk to the audience on how you scale that part of the business with that many doors and that short amount of timeframe. What was your process? What should you do
[00:23:56] AVERY: Well, the number one thing you don't do is you do not live off your [00:24:00] short-term rental income. So this is not a strategy that there's a lot of short-term rental educators out there. Now they're like, oh, you can quit your job off two or three properties. Yeah, you can. But then you're stuck with two or three properties and that's it. Like you're gonna have a really hard time scaling. So. We kept our jobs, you know, just kept throwing more money at it. But the main thing is we did not spend the money we were making on real estate on anything other than real estate. So it was not like extra vacation money or babysitter money or anything like that. Everything we've ever made on real estate has gone right back into real estate.
[00:24:31] BILLY: Smart very smart, yeah.
[00:24:34] AVERY: Yeah. The more properties you get the faster, this. Move. So being able, it started with, okay, we have some extra money. Let's pick up this a hundred thousand dollars, duplex and Chattanooga. Oh, cool. We can pick up another a hundred thousand dollars duplex without really even noticing it in the bank account. And then all of a sudden we had 10 of those and we're like, all right, so what's next. There's enough cash there. Now that we can buy this 12 unit apartment building for $750,000. So it [00:25:00] just kind of has gone from there. The more of a nest egg, you have the bigger property, you can buy it. You don't have to start buying bigger properties, but that's just kind of the way we went with it, because we got to a point where we're like, okay, now we have 15. Single-family doors in Birmingham, it would probably just be easier to get one 15 unit apartment building then to just keep buying all these single families. So right now we have kind of our three machines running and do not do this right at first or else you will never buy anything, start with one strategy, but we've, we're still buying short terms with a good deal, pops up. You have our single family value ad machine running in Alabama. So we just kind of pick those up as we go. We're averaging about 200. And then we have our multi-family machine running in the Midwest. Just kind of keeping an eye on anything makes sense.
[00:25:47] BILLY: The single-family side and the multi-site. Are you bringing in partners on those? Are you bringing an equity partners you syndicating or is that just hundred percent all you and your husband
[00:25:55] AVERY: yep. Just my self and my husband. We have like, we, I mean, when we [00:26:00] started, we, I put us on a $20 a day budget each. So I mean, I could do a whole other podcast on just budgeting to get to this point. But we started with like nothing with having this to save for a year, just to buy $120,000 house. So I've just kind of employed those same strategies, but on a larger scale so that we have not had to bring in any partners,
[00:26:18] BILLY: Avery, you're very smart, very smart with your money. You're following the concepts that a lot of people. They, they preach it, but they don't practice it. And you're like budgeting number one. Um, I was never a good budget, but budgeting is extremely important. I've always used, used to it cause I always had it. So I would just put it out. But if you don't budget and you're on a tight budget, you're not making enough money. You have nothing in the bank. You have to save to reinvest. You did another smart thing where you plowed every single day. For your investments back in the real estate, he didn't live off it. You to go buy fancy cars, you weren't on the internet, flashing your Mercedes or your, your BMW. You like plow the money back in your real estate. Five short years, you guys amassed a really nice size [00:27:00] portfolio. So congratulate and you did it on a shoestring budget starting really from scratch,
[00:27:04] AVERY: right? Yeah. Started from absolute scratch. Thank you.
[00:27:07] BILLY: Congrats. Honestly. Congrats. Yeah. Solid solid information. So talk about your book. What's the book about, I know what it's about, but let's talk about it for a second.
[00:27:16] AVERY: So the book is called short-term rental long-term wealth, and it is actually part, one of a two-part. The next book will come out next year sometime, but it's a basic overview of how to identify a market, how to find an agent, how to find a deal, how to analyze a property. And then the second half of. Of that book is about the remote management. So I've got a lot of experience, not only with our own short-term rentals, but with the short term shop. So like I said, we operate in 11 markets and we have helped over 5,000 families acquire cashflowing short-term rentals. So I've kind of seen it all over the course of my career with short term. So, uh, the book is all about how to get started with short terms. It's called the [00:28:00] short-term show. We interview a lot of short term rental investors or people like CPAs tax attorneys, anybody who would have good information that listeners want to hear about like, oh, you know, how do I set up an LLC? When do I set up an LLC? So different guests every week, typical podcast format, but it's all related to short term rentals.
[00:28:20] BILLY: Boom, Avery, if people want to get in touch with you, how do they find you where do they go?
[00:28:26] AVERY: You can find me at the short-term shop.com or on Instagram at the short-term shop.
[00:28:31] BILLY: Love it. Love it very much. And again, I appreciate you coming on. Sorry for the, I had to put you off last time. So thanks for being really kind about that. And honestly, you've really brought in some great value to your listeners. If they're getting into short-term rentals, I mean, you crushed it. You gave them some really good tools and this whole podcast is about people, us. Certain tools, tips, tricks, strategies, and secrets from what I've used am, I guess you use and you brought it today every so thank you very much.
[00:28:59] AVERY: Thank you so [00:29:00] much for having me. Yeah,
[00:29:01] BILLY: I'll see you on the next one. Take care.
[00:29:04] Thank you so much for listening to today's episode of unstoppable real estate investing wealth.
[00:29:08] My mission is to give you my listeners, the blueprint for success inside of secrets for starting growing and scaling your real estate investing business, you can experience and live unstoppable lifestyle. I've been simple for them to catapult yourself. Succeed. Go to Phillies secrets dot com@billyssecrets.com.
[00:29:34] There you will find every single tool tip trick strategy system and secret you use to make millions of dollars as real estate. Everything might teach you. And my guest views all in one place for you to tap into. So you could start grow and scale the real estate investment business. I really hope you implement what you're learning.
[00:29:56] I hope you utilize tools, tips, tricks, strategies, and secrets. [00:30:00] And I hope to see you on the next God.
[00:30:02] AVERY: Bless bye-bye.
[00:30:07] BILLY: Thank you so much for listening to today's episode of unstoppable real estate investing wealth. My mission is to give you my listeners, the blueprint for success inside the secrets for starting growing and scaling. Real estate investing business, So you could experience and live unstoppable lifestyle. I've made it simple for you to catapult yourself to success. Go to Billys secrets dot com@thebillyssecrets.com. There you will find every single tool. Trick strategy system. And you used to make millions of dollars as real estate. Everything my team uses and my guest views all in one place for you to [00:36:00] tap into, you could start, grow and scale the real estate investment business. I really hope you implement what you're learning. I hope you utilize these tools, tips, tricks, [00:31:00] strategies, and secrets, and I hope to see you on the next episode god bless. Bye-bye.