517: 5 Pitfalls When Buying These “Crazy Cash Flow” Properties 01:12:08

    <p><a href="https://www.instagram.com/theshorttermshop/?hl=en"><strong>Avery Carl</strong></a> is the go-to contact for <strong>short-term rental investing</strong>. Her business, <a href="https://theshorttermshop.com/">The Short Term Shop</a> and <a href="https://mortgageshop.co/">The Mortgage Shop</a> not only helps find properties and secure loans for prospective short-term rental investors but also helps<strong> guide investors through their first </strong><a href="https://www.biggerpockets.com/blog/times-year-buying-selling-vacation-rental"><strong>vacation property purchase</strong></a>. While this type of property can be a cash flow king, it also takes more management and a bit more time upfront to get the system oiled and operating smoothly.</p><p>Since we last talked to Avery, <strong>she’s quadrupled her portfolio from twenty-something short-term units to ninety-six units</strong>, sixty-one of which are <a href="https://www.biggerpockets.com/blog/jump-to-large-scale-multifamily">large multifamily properties</a>. Avery gives an in-depth analysis on why short-term rentals should hold a place in every investor's asset collection, and the <strong>common pitfalls investors go through when purchasing their first </strong><a href="https://www.biggerpockets.com/blog/analyze-short-term-rental"><strong>short-term rental</strong></a>.</p><p>If you’d like to learn more about building wealth through short-term rental investing, grab <strong>Avery’s brand new book </strong><a href="https://store.biggerpockets.com/products/short-term-rental-long-term-wealth"><strong><em>Short-Term Rental, Long-Term Wealth</em></strong></a><em>!</em></p><p>In This Episode We Cover:</p><p>Why having <strong>short-term rentals</strong> can help real estate investors <a href="https://www.biggerpockets.com/blog/2015-06-21-internal-controls-mitigate-risk"><strong>mitigate risk</strong></a></p><p>How Avery <strong>added over seventy more doors to her portfolio </strong>in under two years</p><p><strong>The wrong vs. the right questions to ask</strong> when buying a short-term rental</p><p>The five things people need to <strong>avoid when making their first STR purchase</strong></p><p>Why you may want to “bear-proof” your next cabin in the woods</p><p>Not being afraid to <a href="https://www.biggerpockets.com/blog/fear-of-asking-questions"><strong>ask questions when investing</strong></a></p><p>Why you should<strong> buy Avery’s new book <em>Short-Term Rental, Long-Term Wealth</em></strong></p><p>And So Much More!</p><p>Links from the Show</p><p><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a></p><p><a href="https://www.biggerpockets.com/youtube">BiggerPockets Youtube Channel</a></p><p><a href="https://www.biggerpockets.com/blog/biggerpockets-podcast-364-avery-carl">BiggerPockets Podcast 364: Snowballing 6-Figure Short-Term Rental Profits Into Passive Investments with Avery Carl</a></p><p><a href="https://www.biggerpockets.com/publish">BiggerPockets Publishing</a></p><p><a href="https://www.biggerpockets.com/store">BiggerPockets Bookstore</a></p><p><a href="https://www.airdna.co/">AirDNA</a></p><p><a href="https://pricelabs.co/signin">PriceLabs</a></p><p><a href="https://www.airbnb.com/">Airbnb</a></p><p><a href="https://www.vrbo.com/">Vrbo</a></p><p><a href="https://www.facebook.com/marketplace">Facebook Marketplace</a></p><p><a href="https://turo.com/">Turo</a></p><p><a href="https://www.realtor.com/">Realtor.com</a></p><p><a href="https://www.vacasa.com/">Vacasa</a></p><p><a href="http://craigslist.org/">Craigslist</a></p><p><a href="https://www.amazon.com/">Amazon</a></p><p>Check the full show notes here: https://biggerpockets.com/show517</p>
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