Our guest for this week’s show is entrepreneur, real estate investment expert, and fellow podcaster, Michael Albaum.
Michael is a real estate investor and Program Manager/Head Coach of Roof-stock Academy, which is one of the world’s leading real estate investment marketplaces and has exceeded more than $6 billion in transactions and continues to disrupt the industry with cutting-edge technology and innovations.
In the last decade, Michael has done a variety of deals ranging from single-family homes to longer-term NNN lease properties with national chain tenants. After years of investing, he found his niche in long-distance, value-add multifamily investing. Michael recently left the 9-5 world and prior to the pandemic was traveling around the world with his wife, who is also able to work remotely.
“As I grew organically in the real estate space, my purview grew as well. And I found short-term rentals are an asset class that can make a lot of sense for a lot of people.”
05:45: Why getting laser-focused on particular markets led to Michael’s success
07:45: The systems and processes Michael uses to manage investments remotely
09:50: How Michael manages his multi-family investments
13:05: Getting multi-family units ready to lease using property management companies
17:05: How the pandemic and today’s financial market impacted Michael’s investment strategy
22:00: Getting funding for rehab projects
28:10: How short-term rentals have been impacted by increases in post-covid travel
31:35: Finding financing for short-term rental investments
32:40: What advice Michael would give to himself 10 years ago
Guest Website: https://www.roofstockacademy.com/
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