The Short Term Show Dig Your Well Before You’re Thirsty with Michael Albaum
Michael Albaum is a professional Program Manager, real estate investor and the Head Real Estate Coach at Roofstock, where he works with real estate investors in their paths to making acquisitions and getting started in the industry. He has worked in the real estate world for almost a decade and has worked across many different markets and investment types from SFR to NNN commercial properties. He is a true expert when it comes to overcoming your mistakes, and really making the most out of every one of your units.
Avery and Michael speak about his diverse range of real estate assets from the Smokey Mountains to Alaska. He also speaks frankly about some of the hurdles he faced early on, and how he was able to lick his wounds and take the necessary steps to become the successful person that he is today. They also discuss the importance of finding your niche rather than having units that span across too many territories, and the benefits of doing a 1031 exchange of more stressful units. Michael additionally stresses the importance of diversifying your income streams and how doing so will open you up to a world of possibility.
Key Topics
- Perks of narrowing down your market focus
- How to mitigate risk
- Benefits of breaking down monthly financial responsibility
- Perks of renting in Alaska
- How to take some licks and move on
- Tips for getting rid of stressful units
- Michael’s role with Roofstock
- Importance of having multiple income streams
- Why STR are a savings account
- Value of networking
The Short Term Shop University