Episode Details
Back to Episodes
From Overworked Firefighter To Passive income STR Boss w/ Michael Porche
Description
Michael Porche went from firefighter to full-time short-term rental investor by pulling his San Diego retirement funds and moving to Idaho. His signature move: partnering 50-50 with investors who fund the purchase while he handles the rehab, furnishing, and management, then refinancing to pay them back. He walked away from an $800k Virgin Islands fixer that could gross $420k a year because he couldn't line up the $400k rehab loan - a 2.4-million-dollar ARV play he still thinks about.
The conversation covers cold-calling sellers in the Florida Keys, the power of the BRRRR method in vacation markets where long-term rents don't pencil, why Gulf Breeze beats Pensacola Beach, and the inventory systems Michael's management company uses to protect both sides when guests trash a place. He only takes on properties averaging $4k a month in revenue because his four-person team can't afford to babysit one-bedroom condos for peanuts.
Work with us. Interested in professional management or consulting?
Myka — Sharebnb: www.sharebnb.com
Steve — Argest Rentals: www.ArgestRentals.com
Sign up for PadSplit with Steve's link and get a free 1-on-1 PadSplit strategy call with Stevie Stacks: padsplit.com/hosts
Myka's other podcast, Entrepremarriage — building wealth without losing the marriage: youtube.com/@Entrepremarriage
All our links: linktr.ee/liveletthrive
#airbnb #airbnbhost #shorttermrentals #midtermrentals #padsplit #rentbytheroom #coliving #corporatehousing #BRRRR #realestate #realestateinvesting #VRBO #shareeconomy #airbnbsuperhost #airbnbpodcast #sharebnb #liveletthrive #liveletthrivepodcast #biggerpockets #directbookings #bookdirect #dfwrealestate