Techvestor Expands Multimillion-Dollar STR Portfolio with Florida Acquisitions
WEST PALM BEACH, FLORIDA–Individuals who would like to invest passively in Florida’s growing short-term rental market may be interested in the latest news from Techvestor. After growing its STR portfolio in the Poconos, Scottsdale, and Blue Ridge, Georgia, the company is now operating in Florida vacation destinations that include Tampa, Clearwater, Panama City Beach, and West Palm Beach.
In only a few short years, Techvestor has quickly risen to the top of the STR industry because of its proprietary software that analyzes over 100k properties, 18MM data points, and 250 short-term rental markets every month. Techvestor uses its technology to conduct extensive research and development, which CEO/Co-Founder Sief Khafagi states led to the company’s decision to move into Florida.
“We already knew that Florida was a leader in the vacation scene in the United States – remember that in 2022, it received 1MM visitors to its gorgeous beaches,” he says. “That alone attracted us to the state. Then, when we looked at the data from our platform on specific markets like Tampa and Clearwater, we saw the long-term potential for our $37MM STR portfolio. We decided to jump so that we could be early to this asset class in Florida.”
COO/Co-Founder Sabrina Guler explains that each STR is in the process of a thorough renovation that will take it up to the standards of the Techvestor brand. “It is a true team effort that leverages the expertise of our team as well as the relationships we make with local contractors and vendors,” she says. “When an STR is acquired, we create a detailed plan and schedule for its transformation, including any repairs, maintenance, painting, and other needs it may have. Then we work together each day to make the STR into a beautiful property that is ready to be listed on Airbnb.”
The renovation of all properties is proceeding on schedule, and many of them are in the final stage, which includes putting in furniture, fire pits, hot tubs, and other crowning touches. Yes, even things like movie theaters, golf simulators, and more.
“This is the most exciting part because we get to personalize each STR and make it into a unique destination,” says General Partner and Head of Capital Markets Sam Silverman. “After months of hard work and commitment, we are at the finish line, when the paint has dried, pictures have been hung, pillows have been fluffed, and we have gone through the final checklist. The first guest may walk in only a few days later and enjoy the fun and relaxation of the experience that’s been created.”
Khafagi states that the Techvestor team is studying other Florida markets, looking for destinations that are right for its multimillion-dollar portfolio.
“We are excited about the future of Techvestor and passive investors in Florida,” he says. “We are making STRs more accessible for the everyday investor and helping them discover a historically difficult-to-access asset class.”
Techvestor is a technology development company and real estate firm that offers a proprietary platform for investment in short-term rental properties. Using its 16-point strategy and software, Techvestor locates, acquires, prepares, and manages properties on behalf of passive investors, including maintenance, design, management, renovations, and more.
For more information, please visit Techvestor’s website or contact:
Sief Khafagi, Techvestor[email protected]