Episode #833

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 highcash 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 shortterm rental before the term “Airbnb” even existed. They got in the game so early that they currently have the longestrunning 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 shortterm profits into longterm rentals, a move that Luke would wholeheartedly do again.

Now, with a massive rental property portfolio, Luke credits his passive income portfolio to shortterm 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 shortterm rental strategy with the socalled “#Airbnbust” upon us? Surprisingly, yes. He'll show you how.

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Books Mentioned in Today’s Episode:
LongDistance Real Estate Investing: https://store.biggerpockets.com/produ...
ShortTerm Rental, LongTerm Wealth: https://store.biggerpockets.com/colle...
Profit First: https://www.amazon.com/ProfitFirstT...
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Learn Directly From Luke with The BiggerPockets ShortTerm Rental Bootcamp:
https://www.biggerpockets.com/blog/re...
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Hear Our Episode with Luke’s Wife, Avery Carl:
https://www.biggerpockets.com/blog/bi...
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Connect with Luke:
BiggerPockets: https://www.biggerpockets.com/users/l...
Podcast: https://linktr.ee/strmshow
The ShortTerm Shop: https://theshorttermshop.com/bp
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David: https://www.biggerpockets.com/users/d...
Rob: https://www.biggerpockets.com/users/r...
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Connect with Rob (Robuilt):
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Twitter:   / robuiltchannel  
YouTube:    / robuilt  
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Show notes at: https://www.biggerpockets.com/blog/re...


00:00 Intro

01:48 Quick Tip

03:03 Chainsaws, Beer, and Property Management

08:05 Buying the First Property

16:14 Luke's MASSIVE Portfolio

21:24 No More ShortTerm Rentals

29:02 A LOT of Bank Accounts

33:41 The ShortTerm Rental Market

38:40 Price Cuts

46:03 The Right Way to Manage Rentals

52:22 Connect with Luke!