Michael Sjorgen is the host of the Short Term Rental Secrets podcast and Founder of Short Term Rental Secrets mastermind, a training and mastermind program that helps investors launch, automate, and scale their short-term rental portfolios. 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 can stop trading away time with family for a paycheck. Within 18 months, their vision came to fruition as their short-term rental portfolio replaced their income, which let both Krysten and Michael leave their corporate jobs.
[00:01] – [04:12] Opening Segment
- Insight into the episode
- Introduction to the guest for the episode, Michael Sjorgen
- Michael’s background
- Building a business and passive income to spend more time with family
- Finding a footing in the short-term rental niche
[04:13] – [19:57] Building A Hands Off Short Term Rental Business
- Different ways you can make money with Short Term Rentals
- Buy a property
- Rental arbitrage
- Their business model
- Increasing profit by minimizing operating expenses
- Scaling their business
- Leveraging technology
- The Difficulty of finding deals in the short-term rental niche
- Developing an efficient system to monitor and manage their business
- Michael’s plans for the future
[19:58] – [22:18] Final Four Segment
- Michael’s advice to aspiring investors
- Know what you want and why you want it
- How he stays on top of his game
- Investing on masterminds
- His way to make the world a better place
- Reach out to our guest– see links below
- Final words
Tweetable Quotes:
“The money is awesome, but I get to decide what I do every day. That’s the best currency.” – Michael Sjorgen
“Know what you want and why you want it.” – Michael Sjorgen
“There’s a million ways to make money on real estate and in business in general. So you want to focus on one, but understand what you’re trying to achieve.” – Michael Sjorgen
Resources Mentioned:
- Occupied LLC
- Short Term Rental Secrets
- Think and Grow Rich – Napoleon Hill
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Connect with Michael on Instagram and Facebook. Check out his website and podcast at https://www.strsecrets.com/
Connect with me:
I love helping others place money outside of traditional investments that both diversify strategy and provide solid predictable returns.
Call: 901-500-6191
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