San Francisco, California–(Newsfile Corp. – February 23, 2023) – Techvestor, a real estate firm and technology development company, has announced plans to expand into Florida and, through the acquisition of new short-term rental properties, grow its $37+ million portfolio.
The goal of Techvestor for 2023 is to surpass its current commitments and LOIs as it continues to identify, manage, and exit properties through the use of its 16-point strategy and proprietary software that analyzes over 18 million data points and 250 markets every month. The new STR properties that Techvestor is currently acquiring in Florida will roll into the current portfolio, fully owned by its community of investors.
Techvestor’s co-founders, CEO Sief Khafagi and COO Sabrina Guler, both point to the fact that the STR market was worth an estimated USD ~$100 billion in 2021 and that rose to $109.76 billion USD in 2022. “We’ve been able to capitalize on the growing value of the STR market,” says Guler. “We have seen that because of the COVID shutdown and increase in remote work, there is more interest in STRs, particularly in America. This enabled us to build a portfolio of properties in 10+ markets, including the Poconos, Scottsdale, and Blue Ridge, GA. Now we are focusing on our latest market: Florida.”
General Partner and Head of Capital Markets, Sam Silverman, says, “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 prioritize it every day.”
Techvestor is currently applying its unique software algorithm to the analyses of potential properties in Panama City Beach, Clearwater, Tampa, and West Palm Beach. Khafagi adds that the company is investing heavily in research and development to ensure that it has the adequate staffing and resources for the new growth.
“Our goal is that through this process, we can quickly ramp up our newest STRs and meet our deadlines for listing them,” he says. “Florida saw over 1 million visitors in 2022. We realize that many vacationers are looking for short term rental properties that stand out. Among the amenities we add to properties in markets like this are fire pits, hot tubs, playgrounds, and everything vacationers want for beach trips. Including some surprise amenities we have in store.”
As it has been with other markets, Techvestor will be solely responsible for not only the acquisition of but the renovation and design of all Florida STR properties. “All our properties undergo some type of renovation, which obviously includes any kind of maintenance or repair, but also includes luxurious details that our high-end guests come to expect,” says Khafagi. “We take ownership of all interior design so our partners don’t have to. We do all the work, from finding and buying properties to renovating them into gorgeous destinations.”
He adds that this personal touch helps to brand each property as a uniquely Techvestor property, enriching the company’s portfolio. Guler agrees, and also states that Techvestor takes care of all logistical issues such as its late-stage quality control process. “We have a rigorous checklist for property inspection prior to listing any STR,” says Guler. “We also spend a copious amount of time researching the specific needs of each destination. The steps taken to prepare a property in Florida will be different from the steps we use for our properties in, for example, the Pocono Mountains of Pennsylvania.” Guler adds that just as each market has unique needs, so does each property. “We’re committed to a quality experience for both vacationers and our investors,” she says. “We’re spending time now learning what particular needs properties have in the Floridian climate and market.”
Techvestor’s new Floridian properties will also be managed by the company, which serves as a property sourcer, interior designer, and property manager all in one. “We want Techvestor to democratize STR investments,” she says. “With 2023 and its opportunities on our doorstep, we are well on our way.”
The company is optimistic about its new Florida properties becoming available as early as Spring Break 2023.
Techvestor is a technology development company and real estate firm that offers a proprietary platform for investment in short term rental properties. The company locates, acquires, prepares, and manages properties on behalf of investors, including maintenance, design, renovations, management and more. Techvestor’s proprietary software platform is able to determine the potential value of STR properties and how likely they are to be income producing properties.
For more information, please visit Techvestor’s website or contact:
Sief Khafagi, Techvestor
hello@techvestor.com
To view the source version of this press release, please visit https://www.newsfilecorp.com/release/155951
Source: Newsfile Corp.
Release ID: 535372
Original Source of the original story >> Techvestor Launches Expansion into the Florida Market