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 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. ~~~~ Join BiggerPockets for FREE 👇 https://www.biggerpockets.com/signup?utm_source=owned_media ~~~~ Expand Your Investing Knowledge With the BiggerPockets Books: https://store.biggerpockets.com/?utm_source=owned_media ~~~~ Find an Investor-Friendly Agent in Your Area: http://biggerpockets.com/agentmatch ~~~~ Find Investor-Friendly Lenders: http://biggerpockets.com/findlenders ~~~~ Books Mentioned in Today’s Episode: Long-Distance Real Estate Investing: https://store.biggerpockets.com/products/long-distance-real-estate-investing?utm_source=owned_media Short-Term Rental, Long-Term Wealth: https://store.biggerpockets.com/collections/all-books/products/short-term-rental-long-term-wealth?utm_source=owned_media Profit First: https://www.amazon.com/Profit-First-Transform-Cash-Eating-Money-Making/dp/073521414X/ ~~~~ Learn Directly From Luke with The BiggerPockets Short-Term Rental Bootcamp: https://www.biggerpockets.com/blog/real-estate-investing-bootcamps?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Hear Our Episode with Luke’s Wife, Avery Carl: https://www.biggerpockets.com/blog/biggerpockets-podcast-364-avery-carl?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Luke: BiggerPockets: https://www.biggerpockets.com/users/lukecarl?utm_source=youtube&utm_medium=description&utm_campaign=none Podcast: https://linktr.ee/strmshow The Short-Term Shop: https://theshorttermshop.com/bp ~~~~ Connect with David and Rob on BiggerPockets: David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none ~~~~ Connect with Rob (Robuilt): Instagram: https://www.instagram.com/robuilt/ TikTok: https://www.tiktok.com/@robuilto Twitter: https://www.twitter.com/robuiltchannel YouTube: https://www.youtube.com/c/Robuilt ~~~~ Follow David and BiggerPockets on Instagram: @davidgreene24 or https://www.instagram.com/davidgreene24/ @biggerpockets or https://www.instagram.com/biggerpockets/ Show notes at: https://www.biggerpockets.com/blog/real-estate-833?utm_source=youtube&utm_medium=description&utm_campaign=none 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 Short-Term Rentals 29:02 A LOT of Bank Accounts 33:41 The Short-Term Rental Market 38:40 Price Cuts 46:03 The Right Way to Manage Rentals 52:22 Connect with Luke!