Getting on the housing ladder seems impossible for young people without financial support
For many young people, the dream of owning property seems out of reach, especially without any financial support. Renting out properties may seem like a distant possibility. However, one entrepreneur from Bedfordshire has found a way to make thousands of pounds from properties she doesn't even own.
Meet Lina Akhtar, the trailblazer making £100,000 a year
Lina Akhtar, a 26-year-old from Bedfordshire, is making over £100,000 a year by renting out properties that she rents from other landlords. She manages three rental properties, which combined make a revenue of £8.6k per month.
From a 9-5 to financial freedom
After graduating from university, Lina thought a regular 9-5 job was her only option. She faced long commutes and dealt with misogynistic coworkers. Two months into the job, she knew she didn't want to stick to the traditional working hours. She tried various side hustles but none took off.
The holiday that sparked a bright idea
During a family holiday in a lush Airbnb, Lina discovered the rent-to-rent strategy. This involves renting a property long-term from a landlord and then renting it out to tenants at a higher price. Inspired by this idea, Lina began studying the business model relentlessly.
Building a successful business with limited resources
Lina initially started her business with only £3,000 in the bank. She networked with landlords and letting agents, referring available properties to existing Airbnb hosts for a fee. Within a short period of time, she had generated £10,000 in fees, which was enough capital to furnish her own Airbnb.
Overcoming challenges and finding success
Starting her business wasn't without its challenges. Lina faced slow initial bookings and had to do all the work herself. However, after figuring out how to systemize her business, she now only works 10 hours a week and is proud of her accomplishments.
Generating six figures a year
Five years later, Lina is making over £100,000 a year from her Airbnb and managing three rental properties. Her net profit is roughly £3,000 per month. However, being self-employed means she has to report her income and pay taxes accordingly.
A unique sense of style and choice of platforms
Lina has developed her own style for decorating and attracting renters. She uses the current features of the property to create a cozy or modernistic look. When it comes to listing her properties, she finds that Airbnb and Booking.com bring in the most traffic. She also works with landlords who are specifically seeking to work with companies like hers.
Teaching others to leave their 9-5
Lina is using her earnings to develop an educational platform where she can teach others how to break free from their traditional jobs. She believes that confidence is key and wishes she had started her property journey sooner.
Life's too short to stay in the respite of learning and never taking action. Lina's story is proof that with determination and the right strategy, financial freedom is possible.
