The short-term rental BRRRR is the best of both worlds: you get the cash flow of a vacation rental with the low-entry cost of a BRRRR. But, as with many things in real estate, the short-term rental version of finding a BRRRR deal can be a little tricky. True vacation markets don’t usually have distressed properties on every other street. So, you’ll need to be a little more creative to outsmart other investors.
Avery Carl, a short-term rental master and author of “Short-Term Rental, Long-Term Wealth”, has BRRRRed vacation rentals before, with some huge equity upside. She walks through the five factors you should look for when on the hunt for BRRRR deals. Some of these factors are specific to vacation rentals, while others work for more long-term properties. The biggest upside you have as a potential BRRRRer? Look for the work others aren’t willing to do!
What are your criteria when looking for BRRRR deals? Do you have other “hidden gem” factors that help you find better deals? Let us know in the comments below!
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The Short Term Shop and The Mortgage Shop from Avery Carl:
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00:00 How to Find STR BRRRR Deals
01:56 Tip 1: Filter for Days on Market
02:23 Tip 2: Choose the Ugly Houses
03:11 Tip 3: Find Extra Space
03:42 Tip 4: Add Furniture Yourself
04:31 Tip 5: Let Your Guests Take a Dip
05:00 A Short-Term Rental BRRRR Example