[00:00:05] Speaker A: Welcome to the Short Term Show.
[00:00:08] Speaker B: The show about short term rentals and long term wealth with real property owners hosting real properties who are crushing it.
[00:00:16] Speaker A: In the vacation and short term rental space.
[00:00:19] Speaker B: And here's your host, Avery Carle.
[00:00:29] Speaker C: Hey, y' all. Welcome back to another episode of the Short Term Show. I'm your host, Avery Carle. Thank you very much for being here. It is summertime in full force, so things are probably crazy at your house. If it's anything like mine.
Few things before we get started with our guests. We are hiring agents in the Smokies, in Orlando, in the Poconos, and in Park City. So email
[email protected] if you think you might be a good fit for the team. And without further ado, I'll go on to introduce our guest today. So we have Adrian Green. Adrian is a real estate entrepreneur and investor and she's got a very cool story. How's it going, Adrian?
[00:01:11] Speaker A: It's going great. I'm so excited to be here with you and hopefully help some of your listeners with my story. Avery, I hope you will too.
[00:01:18] Speaker C: So thank you so much for coming. Let's start off by, why don't you tell our listeners a little bit about yourself, what your background is and how you got into real estate investing.
[00:01:28] Speaker A: Sure. So my background is in business finance and then as a high school math teacher. And I got started with real estate investing, really, because I didn't want to have to go teach at a high school anymore. Right. I wanted some time freedom, some location freedom, where I could be where I wanted, when I wanted. And part of that was realizing, hey, I have this house that my husband and I recently bought. It's a whole lot bigger than we need right now. We, we're never using the basement. What if we rented that out? Would that help make up some of that income so that I could maybe leave my teaching job? And that's really how it got started. We knew nobody who did real estate investing.
That wasn't like a family thing. I didn't come from an entrepreneurial family. And so it's just diving into it with house hacking, which can be a little scary. Right. You're going to have strangers come and live in part of your house. And, you know, of course family can think of all the worst case scenarios to share with you. But, you know, I said we're going to take it one step at a time. We're going to start by figuring out how we can do it. We're going to get a listing up. We're going to see who applies. We're going to make sure that we're comfortable every step of the way. And, and that's what we did. And it ended up with a great family in there. I was so happy to have them as a part of like, you know, my community.
And after a few months I was like, this is the easiest money that I'm making.
How can I do more of this?
[00:02:50] Speaker C: That's, I feel like that's so many people's stories, they kind of fall into one and then they say oh wait a minute, I want to do more of this. How can we do that? So you started with house hacking. So tell us what types of real estate are in your current portfolio?
[00:03:09] Speaker A: Well, from the house hacking I continued to do long term rentals and I did them very locally. I wasn't thinking, you know, big picture. I don't really think bigger pockets was thing back when I was doing this starting in, you know, 2013.
And so it went to some long term rentals and then in 2019 is when I made the jump to short term rentals. And it was a big step. You know, there was a lot of learning that happened with that step and yet I'm so glad that I did it because it really leveled up how I ran my portfolio. So prior to doing short term rentals, I had all local long term rentals. Those were things that I could self manage.
Those are things that, that I could do a lot of it myself. I mean I even remember having my daughter, you know, at the time we had a turnover and I enlisted a friend to pay them to help us repaint this condo during the turnover. And I took my little baby daughter and her little pack and play and we set up the pack and play in one of the closets of the house and that's where she napped while my friend and I over a course of a few days painted this place. And so we, we did that. It was very like hands on, very sweat equity. And what was great about when I made the jump to my first short term rental which was a house in Myrtle beach and I lived in Northern Virginia at the time. It was long distance, it was short term, so it was a lot more active management. And that made me start running my investments like a business to stop, you know, discounting my returns because of my own sweat equity and my own labor and start running it like a best a business with the systems, the technology and the team in place to make sure that I was getting all done without me having to do it all.
[00:04:52] Speaker B: Myself looking to buy a beach house for your family this summer.
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[00:05:37] Speaker C: And so your first short term rental, Myrtle beach, what year was that? How much did you pay for it? How much does that typically make?
[00:05:44] Speaker A: So we bought it in 2019. So summer 2019 I think before, you know, the market changed a lot with short term rentals in 2020 for a bought it for around 175,000. I believe it was grossing between 30 and 35,000 based on the seller's historic numbers. When we bought it and honestly kind of fell into it on a whim, I went to Myrtle beach with my family.
It wasn't really our vacation spot. My mother in law was like, hey, I've got a free week at a timeshare, why don't you guys go use it? So we did and we had just lost out on a long term rental back home in our like normal stomping grounds. And so we had the pre approval, you know, wanted to buy a place and I just happened to be, you know, like any real estate investors. Well, let's see what things cost here on Zillow. Well, let's look at Airbnb and see what rental rates are. And that's when I was like, oh my goodness, Myrtle beach has some potential here. And that's when we bought it, like I said, around 175,000. It was grossing in the low 30s. And then of course it, it's been, you know, a bit of a wild ride since then. We've had great years with 2020-2021-2023-2024. It kind of took a dip. 2025. We're seeing if we can come back on that one. And since then I've expanded to two other properties as well. So now I have three in the Myrtle beach market.
[00:07:04] Speaker C: Okay, and were you. Well I guess you probably weren't because you mentioned one of your long terms was a condo. But so many people get so freaked out by condos. So my question was going to be, did the fact that most of Myrtle beach is condos freak you out? At all or how did you overcome that if it did?
[00:07:24] Speaker A: Right. Well, we, I ended up getting. It was a two bedroom, two bathroom. It's one of those that like is either a condo or a townhouse. Like it has kind of a shared wall. It walks that line. But it wasn't the typical like high rise condo. I think those are fine. I didn't have an issue with those. The reason I went with the property I did instead of one of like the condos or the condo hotels was the numbers worked better because those condos or condo tells have such high like condo fees. I mean, when I was looking in 2019, we're talking they were like a thousand bucks a month just for all those fees of all those amenities that were there. And so the numbers just worked better on my place, which was effectively, you know, a single family home with a shared wall. And I want to say we pay a few hundred bucks a quarter as the, you know, HOA community fees for the pool and all the other amenities that come with it. So that just made the numbers work better overall.
[00:08:19] Speaker C: Okay, love that.
So we bought this in 2019. How did you finance your short term rentals in the Myrtle beach market?
[00:08:29] Speaker A: So that first one that I got in 2019, I got with a conventional like investment.
I think we actually did it with a, you know, like a second home or vacation home loan or we were able to do 10% down because it was, you know, far enough away from my primary residence. And honestly it was something that we were going to use ourselves as a family as well. So we did that kind of as the second home loan.
Then when I continue to grow the portfolio, I think the second one we also did with that second home loan because enough time had passed and there was enough difference between that first property and the second one. The second one being a much larger four bedroom house. And then for the third one, which I bought in 2022, at the end of 2022, we actually did seller financing. You know, that was a time with interest rates were rising and we made offers on this. It was kind of funny. So my second rental and my third rental in Myrtle beach are in the same little development of 10 houses. In fact, the two houses are identical, except that one is a mirror image of the other. And so my second one, you know, I've gotten it updated, it was doing well. And so this third one had been sitting on the market for a while. And so I was like, obviously the price, you know, it's price or product, the price was a little high. That's why I was sitting on the market. But, you know, I decided to make an offer and we were negotiating and during that time, my husband, who is like doing the underwriting, was like, let me double check where the rates are right now. Reached out to the lender and realized, you know, 20, 22 rates are all over the place and jumping quickly, it was higher than what he was underwriting. And so we were going back to the sellers and saying, I'm sorry, like we were negotiating in good faith. But that price that, you know, we thought we could pay, we can't because interest rates are like 9.75 instead of 8 or whatever we had. Exactly. And they actually came back and offered seller financing in order to make the deal work.
[00:10:28] Speaker C: Wow.
That's not usually something that, that a seller offers. You normally have to ask.
[00:10:35] Speaker A: Right.
[00:10:36] Speaker C: Convincing. So that's pretty cool.
[00:10:38] Speaker A: Well, and I think what it was is they were first, eager to sell. It had been sitting on the market. They were eager to sell. And second, I think we were pretty much like as good as it was going to get for a buyer. Like, we had another short term rental that is a mirror image of this house. Like, we knew exactly what we could get. As Brent, we knew all the details. I think they knew that, like, if we weren't going to offer any more money than that, who would?
Right.
[00:11:05] Speaker C: Yeah. Yeah, you do have to, especially the way the market has been for the past few years. Look at. Okay, maybe this offer isn't exactly what I want, but as a seller, am I going to get a better buyer than this? And a lot of times, the way the market is right now, the answer is no. And I've seen a lot of regretful sellers who did not take an offer and then ended up selling it for, you know, $100,000 less seven or eight months later. And that really, really stinks. So if you have the ability. Yeah, you, you really, as a seller do need to look at the buyer as a whole and not just the. Don't be. Don't get tunnel vision on just the offer that they're making and try to find a way to make it work. Because these days properties are not selling very quickly.
[00:11:53] Speaker A: Right, right. Yeah. It's a crazy world for short term rentals right now.
Yes.
[00:11:58] Speaker C: Yeah, it absolutely is.
So tell me a little bit about how you are managing these short term rentals. So you said you used to live in Virginia, but not anymore?
[00:12:07] Speaker A: Well, actually, now I travel the world full time with my family, so I manage my properties with the help of my Systems, tech and team. I've got virtual assistants who help with a lot of that day to day. So I'm actually joining you right now for from Japan, where I am 13 hours ahead of Eastern time where my properties are and I have been in Asia, so 11 to 13 hours ahead of Eastern time zone for about five months. And so, you know, while I have to, you know, I get the joy of staying up in the evening and making calls and connecting with people because that is, you know, part of the business. I don't have to deal with the day to day and I don't have to deal with the crazy hours for the day to day of my investment properties because my virtual assistant's handling that.
[00:12:53] Speaker C: I love that. And I want to talk all about virtual assistants, but first I want to hear about traveling the world with your family. So how old are your. Do you have kids?
[00:13:01] Speaker A: I do. So we're a family of five. It's my husband, myself and three kids. My children are, got a daughter who's nine, a son who is seven and another son who's five. And we've been doing this for over a year. We left our last home base in February of 2024 and it's now May of 2025. And we did domestic for a little bit, but we've been now for nearly a year. So the kids have grown, they've learned. We've all learned and developed and had some pretty cool adventures along the way.
[00:13:32] Speaker C: Yeah, that sounds pretty awesome. I've had guests on the podcast before who were doing like the full time RV thing with their kids and traveling around based on the income, you know, from their short term rentals, but not internationally. So where all have you been traveling for the past year?
[00:13:49] Speaker A: Well, we started in Colombia actually. So we decided to start with Latin America because Spanish is more approachable than I think, you know, Japanese might be. So. And the time zones, right, Colombia is typically, you know, depending on daylight savings or not typically, you know, around central time zone. So it's like, that's easy. If something goes wrong, we can fly back. So we started there and what we kind of settled into or decided beforehand as a family of five, I joke that, you know, we travel like a herd of turtles, right? We're not going to be light, we're not going to be backpackers. And so we decided to slow travel, which means we're going to go to a country anywhere from one to three months. Typically. We usually split that up between one in three cities along that way. And so we started with Colombia for three months over a couple of different cities. Loved it. People there, so nice. It was wonderful. It's funny, there's very little English spoken in Colombia, but that doesn't keep people from communicating because they're so friendly and warm. So like the Abuelas would still be like complimenting me on my children even though I had no idea what they were saying in their very rapid Spanish. But it didn't stop them from, from communicating and making that connection in that way. So we did Colombia, we did Mexico for a few months.
Mexico is funny. If you try to speak in Spanish, they will respond in English because so many people there are English speaking. So not the best for developing the language skills, but very convenient.
And then at the end of December, we actually came to, to Asia. So we did a month in the Philippines, a couple months in Vietnam, which was wonderful. We did a quick week in Korea, just you know, like, let's check it off the list. But we loved Korea. We're already planning on going back and now I am near the tail end of two months in Japan.
[00:15:45] Speaker C: I love Japan. I've only been one time but I went all over and it was a lot of fun. So that sounds awesome. My daughter is super into, I don't know what it's called necessarily, she's six. But like all the Japanese toys and stuff and yeah, boba tea and just Japanese culture. I don't know if that's even Japanese, but it gets associated. So. Oh yeah, she's like all about it and she's like, can we go to Japan?
Maybe not right this second year, six.
But we'll get to it. We'll get to it.
[00:16:15] Speaker A: Well, so funny enough, I'm here because my 9 year old daughter also loves all things Japanese. Right? From hello Kitty to sushi to all the things boba tea included. But I will say out of all the places we've been, Japan is very, very easy with kids. Not that any place has been difficult, but Japan is so easy. They have kids meals in all the restaurants. They've got high chairs, they have like little. They always bring like kids bowls and kids silverware to the table as well.
In the bathrooms, everything has changing tables. They have those seats where you can like strap in the kid while you're going to the bathroom which like it's everywhere. So they are so, so kid friendly here.
Much more than I would have ever anticipated. So I'd say you can bring your 6 year old sooner than you would think.
[00:17:03] Speaker C: Well, well, we'll get to it. To me, the, the Hardest part of any of that is a, a flight with them for that long because they're going to start and I've got a four year old boy, six year old girl for your boy and they start to lose their minds a little bit.
And I just, I don't know if I'm ready for the commitment of, of the flight yet.
And then my husband's scared of flying. So there's the whole thing.
[00:17:29] Speaker A: It is a hike. I will say we, when we came to Asia, we spent time in Hawaii first. And so then the flight from Hawaii over the rest of the Pacific is not as bad.
[00:17:41] Speaker C: Okay. Yeah, that's a good. Okay, I'll remember that. Maybe we'll stop in Hawaii for a few days on this hypothetical trip that we're going. So let's talk about what is enabling you to be able to do all this really cool travel. And it's your VAs that are running your real estate portfolio. Right?
[00:17:59] Speaker A: They are a huge, huge, huge part of it for sure. And you know, I think for a lot of real estate investors who are listening to this, you're probably like, I was when I got started, which I was used to doing it all myself. And it was really only because I got that short term rental that was long distance that I couldn't do it myself. Right. That I had to start having this cleaner and this handyman and all this local team that wasn't me. And then I realized, well, if I can hand off all these things, right, someone else can paint the condo better than I can. Right. Kind of idea. You know, once I had that realization in that light bulb moment that I just need to make sure it all gets done, I don't need to do it all myself. That's when I realized, well, even the stuff that's not long distance, even the stuff that's on the computer that's on the phone, that can be done by someone else as well. And so that was a big light bulb moment of just realizing it can be done by someone else. Okay, now let's figure out how to do it.
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[00:20:10] Speaker C: All right. And when you do that. So I think a lot of people are like, okay, this is great. I am going to buy a short term rental. I'm going to use that short term rental tax loophole and save a zillion dollars on my taxes. Then I'm going to have VAs run everything so I don't have to do it and I'm just going to do whatever I want to do. That's not real life. So let's talk about training. How do you train your VAs to run this for you?
[00:20:31] Speaker A: Right, well, and you're so right. And it's all three pieces. I'd say, you know, you've got to have the systems, the tech and then the team. So the systems was where that training piece comes in and it, you know, it goes hand in hand with the tech. So for me, I'm like, you've got to have in addition to your short term rental tech, right? Like your management system there. If you're using, you know, hospitable or guesty or whatever you're using there, in addition to that tech, you're going to need something to manage all of the rest of your systems. And so for me, I use Monday.com, which is a great task or project management system. And so in Monday.com, we have what they call is like a board. And this is pretty much like a spreadsheet on steroids that tracks all of our routine tasks. And we built this out, or I built this out over time just being like, well, what do I do? What do I do? Okay, let me write that down. Let me just write that down on a spreadsheet. And then when I do it, maybe I can like jump into loom or zoom or something like that and I can share my screen and I can just record how I do it. And I just do what I'm doing and I talk about it. This is what I'm doing. And then that became okay. And I, at the time, because this was pre AI, had a VA watch that video and write up a procedure. Now you could take that video, you could make a transcript with an AI tool. You could have AI write that first draft of that procedure before VA even touches it. But that's that next step of let's write a procedure and then it becomes a recurring task on my Monday board of let's say, for example, in our short term rentals we have the handyman do a monthly handyman check. So, so this is a task on my Monday board and in Monday you can set it to recur every month. So every month it pops up. And my VA is in charge of coordinating with the handyman, getting them out there, you know, making sure it's a day when the tenants aren't in there or the guests and getting them everything they need and handling all of that, unlocking the digital lock when the handyman gets there, handling any questions they have, you know, all of those things, making the report, seeing what we might need, supplies we might need for next month, like more air filters or something, more light bulbs, things like that. And then my VA is in charge of ordering them and making sure we have them for next month. And so it really just starts with the tech and then over time you build out each step of the process. It doesn't happen overnight. The VA can help you make those.
And then they're in charge of it and you're just kind of steering this, the ship and overseeing it while they're actually doing the day to day.
[00:23:03] Speaker C: Yeah, I, I love that. I love everything that you're doing and you're 100% right that I. We use loom a lot for training VAs, or really anybody you know, anything that's going to take me too long to type out an email, I just do a loom and show them. And that's become like this big database of SOPs for our short term rental business, for our VAs of like, okay, this is what you do if this happens. Here's where to find this, here's where to find the number for that person. And you just end up creating this big backlog that they not only like, if they can't get a hold of you and aren't sure what to do, they can search that, but like it becomes a way to, for them to almost even train themselves. Like just to watch these videos.
[00:23:45] Speaker A: And what you can, when you do Avery, when you do all that. Because I think one thing that's important to realize with training is some people, like you said, they want to hire a VA and just press the easy button and just be like, hey, go run in management. But here's the thing, like I know so much about short term rentals. Some of this stuff is stuff that like, Avery, I've heard from you over the years, right. In your Facebook group or on things like this podcast. And obviously my VA isn't going to have all of that knowledge. So it's important that I present that knowledge in a way or I pass it along to them so they can have it. And so that's what you're doing with the videos and the procedures and everything like that is you're, you know, transferring that wealth of knowledge into a system where then the VA is kind of like a surrogate you. Right. They can step in and know everything you know that they need to know for this task.
[00:24:35] Speaker C: Yeah, I mean it's, I think so many people kind of jump in and want to get a VA before they even really know how to manage it themselves. So they don't really even know what to teach the va.
[00:24:47] Speaker A: Right.
[00:24:47] Speaker C: And I think a lot of people get in trouble with that. Do you have any advice on when might be the time to make the jump from truly self managing to adding a VA to help?
[00:24:57] Speaker A: Right. And I think it depends too, and what you can consider is what VA or how experienced of a VA you're going to hire. So if you are somebody who is like I am brand new to VAs, I don't know anything about it myself, then that's where I would say you need to maybe have a standard of a VA who's going to have more experience. For example, let's say that you use Hospitable and you don't know how to use hospitable. Right. You've never actually used it. You're like, I have just bought 123 Main Street. I know I'm going to use Hospitable.
So yeah, that's role. Well then in that case you want to hire a VA who already has experience with hospital. But you got to keep in mind doing that is going to really shrink your potential pool of applicants. Right. So you might be giving up some other skills that you might want or some other depth for that specific skill of hospitable. And two, you may be paying more depending on how high level you need them to be. So keep in mind, if you're going to not have any experience, you really need to make sure that you at least know enough to hire a virtual assistant who can make up for your inexperience with their experience.
Know like what specific you need them to be experienced in and be willing to pay for that experience. So it does come as a trade off and I think in general you bring Up a really good point. In general, it's good to at least have a working knowledge of what you want them to do. Right. That's going to make it a little easier for you to supervise them, for you to train them, for you to even know what you need from them. Right.
If you've never handled a guest message, if you've never handled anything like that, how are you going to like, I'm sure you get this too. We had. Last summer, we had cockroaches in one of our houses. Because it's Myrtle beach, it's by the beach. You got people coming in and out every week. Right.
And so if you have never personally handled a guest issue with pests, how are you going to like, instruct or lead or know what to even tell your virtual assistant and how to do that?
[00:26:58] Speaker C: Yeah, I kind of feel like you need a minimum of like a year so that you've been through the seasonality of everything. You kind of know what to expect. You're going to have been hit with like, the. The really common questions and the really common complaints and things like that. So you'll be able to actually build a standard operating procedure off of your own experience.
So that would be my recommendation, is like, you need to be in it a year and then, then you can hand it off.
[00:27:26] Speaker A: Right. That would definitely help. And I think you hit on a good part there about the seasonality. Right. With short term rentals, wherever you have them, there's typically a seasonality, and it's good to have knowledge of that for sure, because it changes.
[00:27:39] Speaker C: Yeah, yeah, absolutely.
Okay. So, Adrian, we are coming to the end of our time together where we ask everyone the same three questions at the end of every show. But first, is there anything about your story that you feel like our guests, I mean, our listeners would benefit hearing that we haven't covered.
[00:27:58] Speaker A: I think the biggest thing that I would want people to take away is, you know, one thing I didn't share yet is like, hey, when we went to Colombia, was I fluent in Spanish? No. Am I? I'm still not fluent in Spanish. Right. When we've come to these other countries and there's nothing special about, like, people can discard it, right? They can be like, oh, well, she has more money or she has these extra language skills, or she has some, you know, special gift that I don't have. And what I would love for people to, you know, take away from this story is if this is something you want to do, whatever is. For me, it was traveling the world with my family. For you, whatever it is that you want to do, you can do it. And real estate investing can help you get there. It doesn't matter how many challenges it has. It doesn't matter if you're not in the perfect market. It doesn't matter if you don't have, you know, all the money to buy all the properties. There is a way to make it work. And real estate investing is so powerful, it can really help you get wherever you want to go.
[00:28:53] Speaker C: Great advice. Now I'm going to ask you for some more advice. What advice would you give 20 year old Adrian if you knew then what you know now?
[00:29:02] Speaker A: Something that I use a lot now, that I wish I had learned earlier, if I could have, is that decisions are easy when your values are clear.
In real estate, it's so easy to get in life. Shiny object syndrome or not be sure of what path to follow. But if you step back first and realize what are your underlying core values. And like for me I've realized some of my core values is like location freedom and time freedom. When I can't be where I want, when I want. Right. Even though I love to work, I work all the time, but I don't want to feel like I have to drive into that office, that building to do it. So those are some of my core values. And once I realized that, it made decisions a lot more clear.
[00:29:45] Speaker C: Great advice. And next, what advice would you give a new short term rental owner or investor who's looking to get started today?
[00:29:55] Speaker A: I would say because it's, you know, it's a fluid market, there are challenges, but I would say that realize you have to make sure that it all gets done. You don't have to do it all yourself. Right. There's a lot of work now with maybe underwriting potential properties to find the, you know, the diamond in the rough that can make, can help cash flow or things like that. And there's a lot to do then even once you get the property, maybe with value add or anything like that. So realize you don't have to do it all yourself, you just have to make sure it all gets done and you can leverage other people to help you do that also.
[00:30:31] Speaker C: Great advice. And last question. What is your favorite book that's impacted your mindset?
[00:30:38] Speaker A: I think in line with what we're talking about today, of course I'd have to bring up Benjamin Hardy and Dan Sullivan's who Not How Realizing again, that was a great book to help me take this thought even to the next level of we just need to find the who to get it done rather than the how.
[00:30:56] Speaker C: I can't argue with that one.
And last so thank you so much for coming on. This is a really great episode. Where can our listeners find you and follow you if they want to learn more about you?
[00:31:09] Speaker A: Sure. You can head to my website, adriangreen.com and I actually have a freebie for all of the listeners of the short term show. I have the Freedom Blueprint there that walks you through like the 10 systems and pieces I put into my business to help run it like a business so I'm able to live the life I do now.
[00:31:27] Speaker C: Love that. So guys, check her out and go grab that. I'm at the Avery Carl and at the Short term shop. And thank you so much for listening. And we'll see you next week.
[00:31:45] Speaker A: Sa.
