US: Technology development and real estate investment firm, Techvestor, has announced that it plans to acquire further short-term rental properties in the year ahead, as well as expanding into Florida.
In 2022, the company purchased, flipped, designed and launched more than 75 short-term rental homes to be listed on Airbnb. The goal is to do the same for around 125 homes across the United States in 2023, adding to its current $37 million portfolio.
The newly acquired properties will be selected by Techvestor’s proprietary platform, through which the software analyses more than 18 million data points and 250 properties a month to identify key markets and potentially viable purchases.
Techvestor COO Sabrina Guler said: “The process of identifying a property, designing the home, furnishing the space, and generating revenue is lucrative – but extremely complicated and can be overwhelming. With our experience and technology, we have streamlined the process on behalf of our partners, which allows us to quickly and efficiently locate optimal properties like the ones we are acquiring this year.”
CEO Sief Khafagi said: “This is the first data driven STR portfolio for the everyday client looking to move into this market. We cater to busy professionals and fund managers who wish to passively invest in the emerging STR asset class but don’t have the time to commit to the entire process.
“Acquiring new properties is key right now as we’re growing our portfolio to offer as much diversity as possible,” added Khafagi.
Techvestor’s team applies a unique algorithm to determine potential property investments and acquisitions. The company has been able to operate short-term rentals in multiple markets, such as the Poconos, Pennsylvania; Scottsdale, Arizona; and Blue Ridge, Georgia, and the company is now expanding into the Florida market, in destinations such as Panama City Beach, Clearwater, Tampa and West Palm Beach.
General partner and head of capital markets at Techvestor, Sam Silverman, said: “We’re excited to continue partnering with investors and fund managers to create a more accessible approach to a historically hard to reach asset class. Our business is dependent on the investor experience and we prioritise it every day.”
