The remote first real estate and technology development company Techvestor is pleased to announce that 2023 will mean the company’s continued expansion into the Sunshine State. With over millions of travelers flocking to Florida in 2022 – and the travel industry expected to grow in 2023 – Techvestor’s leadership team feels that now is the perfect time to grab some hot properties in Tampa, Clearwater, Panama City Beach, and West Palm Beach, to start with.
Co-founders COO Sabrina Guler and CEO Sief Khafagi have also released details about the company initiating its second round of funding for its portfolio of short term rental properties. “The STR industry is booming,” says Guler, pointing to the fact that the global STR market was valued at over $99 billion USD in 2021, and is forecast to grow at a CAGR of 11.1% from 2022 to 2030.
Khafagi adds that this second round of funding is expected to surpass eight figures in commitments and LOIs which were generated by Techvestor’s first round of funding last year. The new properties in Florida will be added to the company’s growing portfolio, which hit over 75 properties in 2022. “Last year we raised over $37 million and we’re currently underwriting over 100k new properties every month,” Khafagi says.
Techvestor is the brainchild of Guler and Khafagi, both previous techies – at Apple and Facebook/Meta respectively – who, despite the success of their careers, were making good money on the side investing privately in STR properties and other real estate assets. “I saw STRs as an emerging asset class,” said Guler. “I enjoyed my job at Apple, but this was something I really wanted to pursue full-time.”
Similarly, Khafagi was knee-deep into technology (and real estate), and he went head-first into real estate in partnership with Guler. “STR investments can be extremely profitable and exciting,” he shares. “However, there’s a lot to know going in. You have to find the right property in the right market. You have to renovate it, take care of any repairs, and style the interior in a way that is experiential. You have to find a great property manager. You have to list and maintain the property. And eventually you have to keep an exit plan in mind. That’s a lot.”
Guler adds that she and Khafagi brainstormed an algorithm that would help them analyze markets and properties to assist them in determining what to buy, where to buy it, and when to buy it – and when to exit, if the numbers agree. “Once we figured out the software, which is capable of analyzing over 18 million data points and 250 markets a month, we realized that we could pave the way for investors to make passive income,” Guler says. “We have learned from our own personal experiences in the STR market and we can apply that knowledge to make it easy for anyone to invest and make money.”
With Techvestor, you don’t have to find property to buy. You don’t have to deal with financing. You don’t have to purchase a property, or renovate it, or maintain it, or style it, or manage it – the company does everything. “What we do is – well, we do it all!” Guler says. “We locate, acquire, prepare, and manage the property on your behalf. We do maintenance, interior design, renovations, management, everything.”
Khafagi says that Florida is an exciting market to move into. “This is really going to give us a chance to spread our wings when it comes to design,” he says. “The fun part of STRs is – in my opinion – the design phase. In a climate like Florida, we can focus on creating not only a luxurious indoor space, but also a year-round outdoor space full of amenities like hot tubs, outdoor games, fire pits, and more.”
Investors also get to enjoy the fruits of their investment with the company’s unique Owner Stays program. “We feel that anyone investing in real estate – especially STRs – should have a chance to see where their money is going, and how it is that they’re getting such great returns,” says Guler. “We invite investors to stay at our properties whenever they want for discounted rates and we treat them like the VIPs they are.”
Techvestor is the strategic, stress-free way to invest in the growing STR market and receive passive income with a buy-in as low as $25k. Once you’re in, you just sit back and let the Techvestor team do the work while you receive a check every quarter. “You invest – we do the rest!” says Guler. “You’ll enjoy cash flow, tax benefits, and we create gorgeous, Instagram-worthy destinations. Then when you’re ready for your own getaway, you choose where you stay and get the best possible rates.”
The company is in the middle of acquisitions for multiple cities in Florida and anticipates having properties available for rent by spring of 2023.
Learn more at https://techvestor.com/
