Matt Gardner is an Investor friendly Realtor that enjoys working with other Investor Friendly Realtors.
Matt has built his business as a real estate agent working with investors.
Watch this video and drop a comment if you’re a real estate agent that wants to tap into working with real estate investors.
Transcrpit:
Matt Gardner 01:12
One thing I had and then I strive to be now as an agent is I think one of the vital pieces is having that local, even if you’re local already, having a local investor agent around to support you. I think is massive. The one person who brought me into the short term rental mix is he was also a fighter pilot and a realtor. And he had a house in the same neighborhood that I was going into. If you’re looking for a data point.
He passed me all of his information like he was completely open kimono. As you know, Bill Almond say. All of this data was presented there. It gave me the confidence I needed to really pull the trigger to execute rather than kind of just be stagnant analysis paralysis. So for me, having that investor minded agent was crucial, crucial in the piece. I mean, the systems and tools are absolutely huge. But honestly, it’s the investor minded agent who helped me set up the systems and helped me set up the tools. He was really the key to unlock a lot of the necessary parts of the investment.
Chris Bounds 02:14
Yeah. I mean, they’re in the trenches. I mean, they can tell you exactly what to look out for. What were some of the surprises that even with that, you’re still gonna have your own experience? You’re not gonna see everything? What were some surprises and things that maybe you wish?
Matt Gardner 02:32I think that the nice about having the agent, he helped me mitigate a lot of the surprises in advance. So thanks. Some of the biggest aspects is analyzing the deal. Right. I can analyze a deal, there’s three ways to Sunday. You can go into bigger pockets. You can go many different short term websites.
It’ll have all these different calculators. But you need to have a local person to prevent the surprise. Maybe the history of a property says it’s going to make $40,000 a year, but the local property manager says it’s going to make $60,000 a year. Then you look at AirDNA, it’s gonna make $80,000 a year. And Mashvisor says it’s gonna make 70 you’re like, “Where do I land? How do I even analyze this deal with the numbers?” I think having that local knowledge is pretty crucial to say.
The current owner is just mismanaging it. That local property manager over there, he’s pretty terrible. AirDNA is pretty realistic. Mashvisor sucks. So you can kind of like figure out where you’re gonna land with your numbers. It’s pretty cute and huge. And then, for me, the other piece was zoning, like zoning and codes. As short term rentals continue to grow and grow and grow. I fear if I were to invest in in Dallas, in Nashville, Atlanta or New York, I’d be really scared. Charlie earlier, he’s investing I think Nashville is where his worst townhouses are.
Those bigger cities, zoning and like the hotel mafia, have has been doing their best to strangle short term rental world. Especially, in those big cities where Airbnb and Vrbo have been a disrupter versus Destin and the Gulf Coast of Florida as well as the Smoky Mountains. Airbnb issue of short term rentals existed well before Airbnb existed, so not as much of a disrupter.
But still there’s localisms that should be made known. Locally, we have what’s called a cobra zone on coastal barrier Relief Act where it could affect your insurance rates or your ability to get private insurance versus federal FEMA flood insurance. Flood zones themselves are a factor. Hurricane or traffic could be a massive. You think you have a great location here but you’re never gonna be able to turn left out of here. Yeah. You can’t get to the beach. I’m sorry. It’s just terrible. Those type of things, I think having that local agent really helps mitigate those surprises in advance.