Melanie Bajrovic created enough passive income streams to quit the bar industry
Since Melanie Bajrovic left the bar industry and became a millionaire real estate investor, she’s usually in bed by 10 p.m.
“I always say to people, if you treat this like a hobby, it’s going to pay you like a hobby,” said Bajrovic, also known as “The Wealthy Barmaid,” the title of her 2017 book. “It has to be treated as a business, and that’s how it pays you as a business.” Her parents opened their own bar/restaurant, Harry’s New York Bar, just outside Niagara Falls not long after Bajrovic was born. Several years later, they launched a larger one, Moe’s. Bajrovic said she started working at Harry’s at 12, in the kitchen, and her parents didn’t pay her in the early years — children were expected to pitch in. At Moe’s, she became a server, then a bartender, and later, when she was still a teenager, a manager.
“Because my mother had been saving all my wages, I just asked her to hand over all the money that she saved for me,” she recalled. While she was collecting rental income, she needed a co-signer for the last two houses because her income wasn’t high enough, and her parents obliged. Bajrovic has had her share of struggles as a landlord. She’s had problem tenants who cost her thousands in unpaid rent and damages, and serious maintenance setbacks. In the early days of Monty’s, “I was always renovating,” she recalled. She has learned to not skimp on checking tenants’ references and credit scores, though her more careful vetting hasn’t always guaranteed success.
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