#190 - Ivy League Investment Banker to STR Business Owner - Michael Chang

Today’s guest on the Living Off Rentals podcast is Michael Chang, a former investment banker, now turned short-term rental business owner and operator as co-founder of TrustBNB Vacation Rentals with his wife, Elizabeth Chang.

For a decade, Mike spent his years in Wall Street, and while he did very well financially, he didn’t want the life he saw most of his fellow investment bankers live. He wanted freedom and a lifestyle that allowed him to spend time with his family. This desire led him and his wife to begin their short-term rental business, eventually focusing on it full-time. 

Taking his investment banking knowledge and applying it to their business, Mike and Liz were able to skyrocket their success in the short-term rental space. Tune in and catch his insights in this episode. 

Key Takeaways

[00:00] Michael Chang and his transition into short-term rentals

[03:52] Michael’s rental arbitrage strategy

[13:07] Discussing the numbers of his rental arbitrage strategy

[16:02] Weighing the risks of leaving his work and starting his own business

[20:56] How Michael and his wife handle their roles in their business

[22:55] Did Michael’s background help him in his real estate investing career?

[25:19] Michael on financing investing projects 

[29:02] How to limit risk with the rental arbitrage strategy

[31:41] The biggest lesson Michael has learned in his investing career

[36:00] Connect with Michael

Guest Links

Instagram: instagram.com/michaelchangbnb 

Show Links

Living Off Rentals YouTube Channel – youtube.com/c/LivingOffRentals

Living Off Rentals Facebook Group – facebook.com/groups/livingoffrentals

Living Off Rentals Website – livingoffrentals.com

Living Off Rentals Instagram – instagram.com/livingoffrentals

Living Off Rentals TikTok – tiktok.com/@livingoffrentals