Luke Carl’s real estate “gateway drug” took him from one home to three hundred rental units in record time—and it can do the same for you. What started as a niche type of investing quickly took over the world, and Luke was able to use these mega high-cash flow properties to buy more rentals, build more wealth, and have enough real estate to do whatever he wanted, whenever he wanted. If you want that same type of financial freedom, you’ll want to copy Luke’s blueprint.
Luke and his wife, Avery, bought their first short-term rental before the term “Airbnb” even existed. They got in the game so early that they currently have the longest-running Airbnb in the Smoky Mountains. One vacation rental turned into another and another until they eventually reached a breaking point, forcing them to pivot and turn their short-term profits into long-term rentals, a move that Luke would wholeheartedly do again.
Now, with a massive rental property portfolio, Luke credits his passive income portfolio to short-term rentals. The high cash flow has allowed him to buy more passive properties that can be outsourced and don’t require constant attention. But can YOU still repeat Luke’s short-term rental strategy with the so-called “#Airbnbust” upon us? Surprisingly, yes. He'll show you how.
In This Episode We Cover:
How to use high-cash flow vacation rentals to build your real estate portfolio WAY faster
Why Luke DIDN’T quit his job to invest in real estate EVEN when he had enough income
Transitioning from short-term rentals to long-term rentals and when to STOP buying Airbnbs
Luke’s financial “buckets” every short-term rental operator must set up
Property management vs. self-management and why you DON’T need to outsource most vacation rentals
And So Much More!
Links from the Show
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Learn Directly From Luke with The BiggerPockets Short-Term Rental Bootcamp
Hear Our Episode with Luke’s Wife, Avery Carl
Books Mentioned in the Show:
Long-Distance Real Estate Investing by David Greene
Short-Term Rental, Long-Term Wealth by Avery Carl
Profit First by Mike Michalowicz
Connect with Luke:
Luke's BiggerPockets Profile
Luke's Podcast
The Short-Term Shop
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-833
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BiggerPockets Real Estate Podcast