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'@@ -1,0 +1,1 @@ +A young kitchen installer who purchased a rundown lakehouse and transformed it into three separate waterfront units makes thousands of dollars a month by renting it out on AirBnB. <br>Mark Johnson, 24, bought the 70s-style property for $690,000 in March 2020 and [https://www.bagtheweb.com/b/8S1MaS septic tank service pontotoc ms] renovated it over six months at a cost of $39,000.<br>He now has the option of quitting full-time work thanks to his savvy investment. <br>Over the past four months the two rented units on the bottom floor have generated an average of $1750 per week, which is more than enough for Mark to pay his $560 weekly mortgage repayments plus the $230 weekly bills and utilities.    <br>The units make a total of $7,000 per month, leaving nearly $4,000 for Mark to use as he pleases. <br>Mark, who lives in Lake Macquarie, told Daily Mail Australia his main goal was to own and invest in hundreds of properties to create a prime source of income, while teaching [# Scroll down for video <br> In March 2020 Mark Johnson, 24, (pictured) purchased the old 70s-style property for $690,000 - which took six months to renovate for a total of $39,000 - and now has the option to quit working full time <br> Before: The space was originally outdated and looked dull with exposed yellow brick and orange flooring throughout<br> After: But the renovation brought the property into 2021 with a modern uplift that now looks luxurious<br>When Mark bought the property, it was outdated and looked dull with exposed yellow brick and orange flooring. But the renovation brought it into 2021 with a modern upgrade. <br>The newly renovated 100sqm lakehouse now has three separate units with five bedrooms in total, three bathrooms and stunning views. <br>'The renovation process was back-breaking work and a lot of problems came up, but as stressful as it was I always looked forward to working on it whenever I had free time,' Mark said. <br>'Everything from building wall frames, plastering walls, tiling floors and demolition was completed out of hours and on weekends.'  <br>The two units on the ground floor are rented out on AirBnB while Mark lives in the third unit above.<br>'I rent the rooms between $90 and $300 per night on Airbnb, depending on public holidays, weekends or a normal school night being the cheapest,' he added.   <br> The house originally had three bedrooms and two bathrooms, but now has three separate waterfront units with five bedrooms in total<br> 'The renovation process was back-breaking work and a lot of problems came up, but as stressful as it was I always looked forward to working on it, whenever I had free time,' Mark said<br> RELATED ARTICLES <a href="#" data-page="prev">Previous][# Previous] [# 1] [# Next] [/femail/article-9400663/Management-consultant-27-reveals-gained-growing-net-worth-178K-partner.html Young couple reveal how they built a $200k nest egg and set... ] [/femail/article-9374903/How-broke-Sydney-woman-53-built-six-figure-investment-portfolio-seven-years.html How a broke business manager built an investment portfolio... ] [/femail/article-9054157/Banker-23-net-worth-219-000-shares-plans-retire-age-35.html How to retire by 35: Banker, 23, with a net worth of... ] [/femail/article-9194993/Manager-net-worth-347-00-reveals-three-biggest-investments-make-year.html Marketing manager, 24, reveals the three biggest investments... ] <br><br><br>[https://integratedsafetyconcepts.com/ integratedsafetyconcepts.com]<br>Share this article<br>Share<br>97 shares<br><br><br>In order to purchase the property at such a young age, Mark saved an impressive $100,000 by the age of 20 due to strict guidance from his parents.<br>Admitting he was never a keen saver but wanted to own a home, Mark owes a vote of thanks to his parents who taught him the value of money by forcing him to save throughout his teenage years.<br>After he started working full-time his parents gave him the option of paying rent or living at home free of charge, but he had to transfer 85 per cent of his income to their account and the full amount would be returned in four years.<br>'This was difficult but as a teenager you can be reckless with money if you're not careful,' he said.<br>On top of saving, Mark also had extra income streams that helped him reach the $100,000 figure.<br>'I had a YouTube channel and gained 100,000 [http://Www.Savethestudent.org/?s=subscribers subscribers] by the age of 13 that paid me a small amount of passive income every month, as well as other side hustles including dropshipping,' he said.<br>'This all came to an extra $400 to 500 per month.' <br>He managed to accumulate the six-figure saving in only four years. <br>'Dropshipping' is a common method involves shipping products from the manufacturer directly to the customer without the supplier or retailer ever seeing it. <br><div class="art-ins mol-factbox femail" data-version="2" id="mol-d1ff3b40-92ab-11eb-b889-31e8ff18ccb0" website a kitchen installer used AirBnB to earn $7K per month '