As OnlyFans creators continue to rake in billions each year, one Aussie mum decided to use her newfound fortune to get her children onto the real estate property ladder.
Australian OnlyFans star Lucy Banks revealed that rather than splashing out on luxury items, she bought an investment property for her primary-school-aged children.
"I've just bought an investment property for, and with, my children, and they're not even 10 years old," Banks said.
Also read: Top 5 areas to buy for property investors
Banks joined OnlyFans in 2019 and is currently earning $2,500 per day on the platform, which predominantly offers subscribers pornographic content.
"Buying a property is such a huge hurdle. There is no way I could have bought a property as a single mother without OnlyFans,” she said.
Kids join property ladder
Banks explained that when she bought her first property 10 months ago, her kids immediately wanted to know how they could get involved in the venture.
Each of her children insisted on giving her $100 to "invest" in the property, which they had saved from birthdays and doing chores around the house.
"My two kids both gave me $100 each to 'invest' in this new house; once we have tenants in it, they'll both receive $5.50 each a week," she said.
The Perth single mum said she hadn't considered allowing her kids to invest in the property until her eldest son suggested it.
"My eldest came up with the idea, and my youngest followed," Banks said.
"It never even crossed my mind to include the kids in buying investment properties. But my eldest son is so excited and is constantly talking to me about how to maximise their investment."
Her kids also calculated that by the time they were adults, they would have enough money from the initial $100 deposit to buy their own properties.
OnlyFans cash boom
OnlyFans content creators earned $3.86 billion in 2021, an increase of 115 per cent from the previous year – meaning creators earned more than $8 billion on the platform since its 2016 founding.
While Banks understands many people may judge her for her career choice, she is grateful to be able to provide a life for her boys in which they won't want for anything.
"My boys won't be receiving hand-outs or trust funds - but I will put them through the best schools and I will help them be financially smart. The rest is up to them," she said.
However, Banks jokes her kids are still kids and will often spend their money on games and sweets.
"They also make typical kid choices, like spending money on Robux and chocolates. But ultimately, they're conservative with saving the money they have earned."