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Rental Income Podcast With Dan Lane

Renting Out Trailers. How Luke Kohne Retired At 30 (Ep 24)

Rental Income Podcast With Dan Lane

Rental Income Podcast

Investing, Entrepreneurship, Business

4.8835 Ratings

🗓️ 24 February 2015

⏱️ 24 minutes

🧾️ Download transcript

Summary

My guest today has found a real interesting niche.  He rents out and flips trailers.  The cost is really low to buy a trailer, and the cash flow is pretty good.  Luke has built up a big enough portfolio over the last 5 years, that he was able to quit his job and live off the rental income his properties generate.

Transcript

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0:00.0

This is the Rental Income Podcast, where we talk to owners of rental properties and give you actionable tips and advice that will help you make more money while dealing with less hassle.

0:10.9

And now your host, Dan Lane.

0:13.1

I put together a list of seven things I wish I knew earlier about renting properties.

0:17.9

And you can download your free copy.

0:20.4

Just go to my website website free landlordgift

0:23.4

dot com on the show today we have luke cone and luke has a really inspiring story he started

0:30.0

buying trailers in a trailer park when he was 25 by the time he was 30 he had enough trailers

0:36.7

and he had enough rental income that he was able to retire from his job and focus full time on managing his portfolio.

0:45.1

I think this is a really crazy story. So let's find out how he did it. Luke, welcome to the show. Why don't you start with just telling us a little bit about yourself and how you first got started in real estate?

0:58.1

Okay, not a problem, Dan.

0:59.3

Thanks for having me on the show.

1:00.5

Sure.

1:01.9

Yeah, I started, I'm, like I said, I just turned 30.

1:06.2

I've always grew up in the mechanical business as far as work.

1:09.9

Prior Army spent six years National Guard

1:13.2

and sometime active deployed one tour in Iraq. But I always had an itch even just getting

1:19.1

out of school and going through tech school and everything else, that's kind of where my itch started.

1:24.3

And I even, I called my dad and I was you know well you know instead of renting

1:29.7

when I'm moving all across the country with school and the army and everything else how about you know

1:33.9

we buy some places I fix them up and when I move we'll just rent them out and start building a you

1:39.6

know a nationwide rental portfolio and I got the, oh, that's a terrible idea.

1:44.9

We're not doing that.

...

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