833: From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills w/Luke Carl
833: From Surviving on $30/Day to 30+ Properties Thanks to Blue-Collar Skills w/Luke Carl  
Podcast: BiggerPockets Real Estate Podcast
Published On: Thu Oct 19 2023
Description: 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 Find an Agent Find a Lender BiggerPockets Youtube Channel BiggerPockets Forums BiggerPockets Pro Membership BiggerPockets Bookstore BiggerPockets Bootcamps BiggerPockets Podcast BiggerPockets Merch Listen to All Your Favorite BiggerPockets Podcasts in One Place Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts Get More Deals Done with The BiggerPockets Investing Tools Find a BiggerPockets Real Estate Meetup in Your Area Davids's BiggerPockets Profile David's Instagram Subscribe to David’s YouTube Channel Rob's BiggerPockets Profile Rob's Instagram Rob's TikTok Rob's Twitter Rob's YouTube 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 Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Email advertise@biggerpockets.com. Learn more about your ad choices. Visit megaphone.fm/adchoices