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.
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
Rich Dad, Poor Dad
The Short Term Shop University
The Short Term Shop Facebook Group
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