Former Firefighter Mike Savage Builds $2 Million Real Estate Portfolio
Mike Savage achieved financial independence and a $2 million net worth by using unconventional financing and short-term rental management.
Former firefighter and EMT Mike Savage built a real estate portfolio valued at $2 million by utilizing asset-backed loans and unconventional financing strategies. He began his trajectory in 2010 with a USDA rural housing loan for a home in Massachusetts, later using a $10,000 loan against his truck to fund his first investment property in Charleston, South Carolina, in 2015.
Savage expanded his holdings by repeatedly using home equity lines of credit to acquire new primary residences and convert previous homes into rentals. Between 2020 and 2021, he accelerated these acquisitions through hard-money lending and the BRRRR method. This growth led him to cofound SynergyStays, a business focused on short-term rental revenue management.
Following a pay reduction at the fire department, Savage transitioned to full-time entrepreneurship. He has since shifted his investment strategy away from increasing the total number of properties, focusing instead on maximizing the income generated per unit.
