EP 355: STR Series Part 2: Advantages of Visiting a New Market in Person (Minisode)Mar 14, 2023
Are you curious about what it takes to find and purchase the perfect short-term rental property out of state? Welcome, ladies, to the Real Estate InvestHER Show! In this minisode, join Liz and Andresa on this second part of the STR Series as they share their first-hand experience investing in properties in Florida. Ladies, if you haven't had the chance to listen to the first episode of this series, be sure to check Ep. 353 - Buying our First STR Out of State - Part 1 right now! From visiting different neighborhoods to understanding the construction market, they will walk you through their journey of finding the perfect luxury short-term rental. From understanding submarkets to building relationships with locals, Liz and Andresa will discuss the importance of taking the time to understand a market before investing in it. They'll also talk about how older generations are holding onto their properties and how they need to be redeveloped.
Tune in to this great minisode to learn more about what it takes to make an informed investment decision!
· “It is always essential for you to evaluate the property personally. There are so many things, wrong assumptions and good assumptions, that really will make the change in how we evaluate. This is data that we could not have gotten online”. (00:55 – 01:16)
· “When you're actually driving around, and you're there physically, you get this wonderful experience of the submarkets. That could flip your hunches because you are getting to know the communities, and that will impact your decision”. (04:19 – 05:05)
· “It is important to have a holistic approach. Real estate is not just a property; real estate's more than that. That is why you need to have your eyes on everything.” (08:01 - 08:11)
· “Think of the team as a holistic approach. The team is also the people you talk to, the people you meet, and local investors. Think of the team as you're putting a deposit in the relationship. We made an investment in the relationship and in the market” (10:48 - 11:00)
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