May 18, 2024

Passive Income: I rent 134 Airbnb without owning it

Ryan Lock

Ryan Luke purchased a property on a lease option agreement in March 2019 which he intended to sublet. After initially failing to find a tenant, he listed the apartment on Airbnb – receiving thousands of bookings within days.

Since then, Luke has run his Airbnb business full time and has 134 properties across the UK and Dubai.

His strategy: he does not buy the property at first, but rather rents it himself, renews it and rents it out. With this ‘rent for rent’ approach, he earns sales after a short period.

For nine years I worked for my wife’s family business – a chain of auto repair shops – as a sales manager. Even in my twenties and especially in my thirties, I wanted to make a firm retirement pillow. By the time I was in my mid-30s, I was starting to get anxious.

I wanted to get into real estate to build my fortune faster. I started looking for properties that could sell well. My plan: first make money by looking for good offers, then invest it in my own real estate. Next I wanted to rent them out and generate passive income.

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