The AirBNB Business, with Michael Sjogren

15 Jan The AirBNB Business, with Michael Sjogren

Posted at 04:00h in Podcast by

Episode 235:

Michael Sjogren is a husband, father, investor, entrepreneur, CPA, mentor, podcast host and short term rental expert. Michael and his wife Krysten founded Occupied, LLC, a national short-term rental investment and management company in 2017, as a vehicle to build passive income so they could stop trading away time from family for a paycheck. That vision came to fruition within 18 months when their short term rental portfolio replaced their income and Krysten and Michael both left their corporate jobs. They are based out of Boston, MA and currently they have a portfolio of 20 short-term rental properties across four states including MA, NH, NC & FL including a boutique hotel on Boston’s north shore. Michael is also the founder of Short Term Rental Secrets, a mentorship program to help new and seasoned real estate investors launch, automate & scale their short term rental portfolio to 2-5x their rental income and fast track their journey to financial freedom.

Michael is the host of the Short Term Rental Secrets Podcast and founder of the Short Term Rental Secrets Mastermind, a training and mastermind program that helps hosts launch, automate and scale their short term rental businesses. Michael and his wife Krysten are co-founders of Occupied, LLC, a national hospitality investment and management company. They have a portfolio of short-term rental properties across the U.S. and a boutique hotel on Boston’s north shore.

What you’ll learn about in this episode:

  • How Mike decided to make a significant career change to free up time, after his son was born with a rare lung disease that caused Mike to use up all his sick leave
  • How Mike's short term rental AirBNB business has grown and expanded, now operating across four different states
  • How Mike has built up his team of four and his systems to automate running short term rental properties
  • What three different methods are available to acquire properties for the purpose of turning them into short term rentals
  • How Mike was able to scale his business without needing to purchase properties by partnering with landlords
  • What potential challenges and pitfalls you might face in the short term rental niche, and why good systems are crucial
  • Why the ideal properties for short term rentals differ from what makes a good long term rental home
  • How Mike handles the maintenance, furnishing and cost structure of the properties he converts to short term rentals
  • Why a great location for your property is key, and why “people, perks and proximity” makes a big difference to its attractiveness to renters
  • How creative thinking and making a unique experience for your guests can turn even remote properties into desirable destinations

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