How to Build a Six-Figure Annual Income Using Short Term Rentals with Michael Sjogren

Michael Sjogren – Company Owner of Short Term Rental Secrets at STRSecrets.com, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. He has built a portfolio of short-term rentals of over $100,000 a year in cash flow. He is also educating people on how to do it themselves over STRSecrets.com. Learn how a past family crisis became the catalyst to get involved in real estate, and ultimately maximizing his Airbnb rental opportunities.

Four Key Take-Aways from this Episode

Key Lessons Learned: Systematization. The key to success in short term rentals is to build systems that allow the business to run with minimal input from you the owner. Work On your business, not IN your business.How did they acquire their knowledge or what knowledge did they need to acquire?Michael spent about $5,000 to enroll in a mastermind and take courses.How much money did it take to get started?It took about $65,000 to get up and running on his first property that cost about $200,000 to buy and renovate, and $10,000 to furnish.How much time does it take now?He spends under 2 hours a week when he is not setting up a new property.Could they do this strategy from anywhere in the world?He could really do this from anywhere with a virtual assistant and team members.

What you’ll learn about in this episode

Michael Sjogren discusses writing where he wanted to be in five years.How did he find his first deal and did it need rehabbing?He purchased his first property for $177,000 and put $25,000 into it.  How hard was it to know what to put into the property?You can be the Walmart, Target, or Nordstrom of your market.  Did Michael Sjogren pay cash or take out a loan for the property?How did his son’s health give him the confidence that everything would work out with real estate? Airbnb is a review-based business.Are there any rules of thumb that Michael Sjogren goes into when looking for a property? How do you research to make sure a short-term rental property is allowed in the area? How did he go about getting himself educated?  How can people contact Michael Sjogren?What strategies does he use to buy properties? Operate with integrity or you won’t be operating long.  What does a day in the life as a vacation rental manager look like? What types of software and services does he use? Michael shares some security advice. Are there any team members or systems he uses?  How does he handle cleaning and maintenance? What should you know about turnover between guests?Is there a fear of party houses?What security camera does he favor? How far are his properties from him?Does he think he could do this from a cruise ship from anywhere in the world? How does customer issue resolution get handled? 

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thank you so much! We really appreciate it!

Recommended Books

Rich Dad, Poor Dad by Robert KiyosakiE-Myth: Revisited by Michael...

Michael Sjogren – Company Owner of Short Term Rental Secrets at STRSecrets.com, talks to Neil Henderson and Brittany Henderson, the hosts of The Road to Family Freedom podcast. He has built a portfolio of short-term rentals of over $100,000 a year in cash flow. He is also educating people on how to do it themselves over STRSecrets.com. Learn how a past family crisis became the catalyst to get involved in real estate, and ultimately maximizing his Airbnb rental opportunities.

Four Key Take-Aways from this Episode

Key Lessons Learned: Systematization. The key to success in short term rentals is to build systems that allow the business to run with minimal input from you the owner. Work On your business, not IN your business.How did they acquire their knowledge or what knowledge did they need to acquire?Michael spent about $5,000 to enroll in a mastermind and take courses.How much money did it take to get started?It took about $65,000 to get up and running on his first property that cost about $200,000 to buy and renovate, and $10,000 to furnish.How much time does it take now?He spends under 2 hours a week when he is not setting up a new property.Could they do this strategy from anywhere in the world?He could really do this from anywhere with a virtual assistant and team members.

What you’ll learn about in this episode

Michael Sjogren discusses writing where he wanted to be in five years.How did he find his first deal and did it need rehabbing?He purchased his first property for $177,000 and put $25,000 into it.  How hard was it to know what to put into the property?You can be the Walmart, Target, or Nordstrom of your market.  Did Michael Sjogren pay cash or take out a loan for the property?How did his son’s health give him the confidence that everything would work out with real estate? Airbnb is a review-based business.Are there any rules of thumb that Michael Sjogren goes into when looking for a property? How do you research to make sure a short-term rental property is allowed in the area? How did he go about getting himself educated?  How can people contact Michael Sjogren?What strategies does he use to buy properties? Operate with integrity or you won’t be operating long.  What does a day in the life as a vacation rental manager look like? What types of software and services does he use? Michael shares some security advice. Are there any team members or systems he uses?  How does he handle cleaning and maintenance? What should you know about turnover between guests?Is there a fear of party houses?What security camera does he favor? How far are his properties from him?Does he think he could do this from a cruise ship from anywhere in the world? How does customer issue resolution get handled? 

Help Us Out!

Help us reach new listeners on iTunes by leaving us a rating and review! It takes just 30 seconds and instructions can be found here. Thank you so much! We really appreciate it!

Recommended Books

Rich Dad, Poor Dad by Robert KiyosakiE-Myth: Revisited by Michael Gerber

Resources Mentioned in the Show

strsecrets.com/webinarTurnoverBnBPriceLabs.comWheelhouse.comAugust LocksSmartbnbRing Security CamerasNoiseAware

Connect with Guest:

Website: STRSecrets.comFacebook: The AirBnB GuyInstagram: The AirBnB Guy

*FTC Disclosure: This post may contain affiliate links. If you make a purchase after clicking on the links, Road to Family Freedom will get a small commission. We are dedicated to finding the coolest products for families looking to building financial freedom through real estate and we never recommend anything that we don’t love.