#344 - Retiring From Firefighting Through Short-Term Rentals in Hawaii - Mike & Caroline Neubauer

In this episode of Living Off Rentals, Mike and Caroline Neubauer of the Our Family Invests podcast join us to share how they built financial freedom through real estate investing and short-term rentals in Maui.

Starting with an ADU on their primary home, they eventually built a short-term rental business that allowed Mike to leave the fire department. Along the way, they learned some hard lessons about financing, renovations, cash flow, and building systems.

Listen as Mike and Caroline share how they got started, the challenges they faced with their first short-term rental, the impacts of COVID and the Maui fire, and how having a clear family goal helped them keep moving forward. Enjoy the show!

Key Takeaways:

[00:00] Introducing Mike and Caroline Neubauer

[03:18] Building financial freedom in a really expensive market

[07:52] Building an ADU on their primary residence

[13:58] From being a firefighter to discovering short-term rentals in Maui

[23:00] The different path to financial freedom

[24:20] The lessons learned from landlording short-term rentals

[26:01] Finding and purchasing their first short-term rental

[29:30] How COVID affected their real estate operations