Ryan Luke started with one IKEA-furnished Airbnb that made £3,500 in five days. A corporate client's request for 16 beds pushed him into Rent to Rent, where he acquired five properties in 10 days and eventually launched a property-management business.
Questions this video answers
About £3,500 ("three and a half grands") in five days.
18% commission.
About 16 beds for eight months.
Five Rent to Rent properties in 10 days.
Chapters
I went for a coffee with a friend. He told me he was renting out his apartment on this thing called Airbnb. Obviously I asked him a few more questions about it. Cut a long story short, I was in IKEA a few hours later and then I had a truck full of furniture and spent pretty much the night putting it all together. So took some photographs, put it on Airbnb, didn't even really know what I was going to do next and had like three and a half grands worth of bookings in five days. And I guess that was the drug for me and I was hooked. So I then had a couple of other properties that were going through conveyancing and when they came to completion I just decided to run them as well. Even though they were nowhere near town in one of the rougher areas of Newcastle. And when I told people I had them there, they were almost like you what? And again, bookings just kept streaming in. So I, I then just kind of kicked on from there really. And a bit like Julie, you know, you start poking around and getting requests from people and then you just decide to okay, yeah, I can do that. And yeah, I can look at that. And then I kind of fell into Rent to Rent by accident. Had a, I noticed there was a, a company kept booking through booking.com and I was like getting really annoyed that I was having to pay obviously an 18 commission. So I rang them up and more to just say can you please book with me and stop booking through booking.com and lo and behold they needed about another 16 beds or something for eight months. So I, I went and acquired five rent to rent properties in 10 days to fulfill that book. And, and then someone said, oh, that's Rent to Rent. So I went and googled what Rent to Rent was and sure enough I'd sort of done it by mistake. And, and then I realized how easy it was to pick up other people's properties. So I went a bit helpful other with that. Anyone that knows me knows that when I get the bug for something I go all in. Whether that's business, sports, fitness, family, friends, whatever it is, I'll, you know, I go all in. So that's what I did. And, and then off the back of that I got a phone call about six months later as I'd built and you know, built the portfolio using Rent to Rent. I got a phone call off a friend saying I've got a guy who's got a block of apartments, he needs some help because the current management companies let him down. Do you do management. I was like, well, yeah. So I, you know, you're not going to turn down opportunity. I've got the systems and processes in place. I don't see why it's that any different. So. And that started my management journey having a blast.
Going to get it on the Bruce Lee podcast. Bruce Lee, like Bruce Lee because it's so hard and the tea is loose leaf. Making up those rhymes. Don't write it, just do it loosely.