BiggerPockets | Why This Expert Investor Owns Only ONE Rental Property @biggerpockets | Uploaded September 2024 | Updated October 2024, 13 hours ago.
Episode #1,024
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Grab the Book, “Short-Term Rental, Long-Term Wealth”:
store.biggerpockets.com/collections/all-books/products/short-term-rental-long-term-wealth?utm_source=owned_media
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Investing in Short-Term Rental Properties: A Beginner’s Guide & How to Get Started:
biggerpockets.com/guides/the-ultimate-guide-to-short-term-rental-properties?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Mike:
biggerpockets.com/users/michaelb393?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Dave:
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Mike Baum owns just one rental property, but this one property alone has changed his life. It’s allowed him to become such an investing expert that he’s constantly being asked for his opinion on the BiggerPockets forums, and he provides some of the most well-thought-out investing advice on the internet. So why does he have just one rental property, and why doesn’t he grow using his expertise? The answer isn’t that obvious.
You wouldn’t know it, but Mike is permanently disabled. After overworking so hard that he ended up losing his vision, he was placed on disability for the rest of his working career. This high achiever was forced to slow down and find something else that could replace his day job. Shortly after his diagnosis, he found BiggerPockets and turned a family vacation home into a short-term rental.
Now, he’s got systems and processes that help him self-manage with very few headaches, and he will probably keep this property as his one and only rental for life. Why didn’t he “FOMO” in when everyone was gobbling up real estate in 2020? Why didn’t he grow his portfolio to become the next tycoon? Mike has some clear answers for why he did what he did, and after listening to him, you might change what you want, too.
00:00 Intro
02:34 Losing Sight After Overworking
05:24 Empty Lake House?
8:52 Managing a Vacation Rental
12:20 Know This BEFORE You Buy
17:17 Just ONE Property
20:56 No-FOMO Investing
26:21 A “Very Interesting” 2025
Episode #1,024
Ask Your Question on the BiggerPockets Forums:
biggerpockets.com/forums?utm_source=owned_media
Episode Show Notes: link.chtbl.com/BPRE
Join BiggerPockets for FREE 👇
biggerpockets.com/signup?utm_source=owned_media
Let Us Know What You Thought of the Show!
BiggerPockets.com/Podcastfeedback
Grab the Book, “Short-Term Rental, Long-Term Wealth”:
store.biggerpockets.com/collections/all-books/products/short-term-rental-long-term-wealth?utm_source=owned_media
Find an Investor-Friendly Agent in Your Area:
biggerpockets.com/agentmatch
See Dave at BPCON2024 in Cancun!
biggerpockets.com/events?utm_source=youtube&utm_medium=description&utm_campaign=none
Investing in Short-Term Rental Properties: A Beginner’s Guide & How to Get Started:
biggerpockets.com/guides/the-ultimate-guide-to-short-term-rental-properties?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Mike:
biggerpockets.com/users/michaelb393?utm_source=youtube&utm_medium=description&utm_campaign=none
Connect with Dave:
biggerpockets.com/users/davem27?utm_source=youtube&utm_medium=description&utm_campaign=none
Mike Baum owns just one rental property, but this one property alone has changed his life. It’s allowed him to become such an investing expert that he’s constantly being asked for his opinion on the BiggerPockets forums, and he provides some of the most well-thought-out investing advice on the internet. So why does he have just one rental property, and why doesn’t he grow using his expertise? The answer isn’t that obvious.
You wouldn’t know it, but Mike is permanently disabled. After overworking so hard that he ended up losing his vision, he was placed on disability for the rest of his working career. This high achiever was forced to slow down and find something else that could replace his day job. Shortly after his diagnosis, he found BiggerPockets and turned a family vacation home into a short-term rental.
Now, he’s got systems and processes that help him self-manage with very few headaches, and he will probably keep this property as his one and only rental for life. Why didn’t he “FOMO” in when everyone was gobbling up real estate in 2020? Why didn’t he grow his portfolio to become the next tycoon? Mike has some clear answers for why he did what he did, and after listening to him, you might change what you want, too.
00:00 Intro
02:34 Losing Sight After Overworking
05:24 Empty Lake House?
8:52 Managing a Vacation Rental
12:20 Know This BEFORE You Buy
17:17 Just ONE Property
20:56 No-FOMO Investing
26:21 A “Very Interesting” 2025
