You should look into mid-term renting to traveling nurses or government contractors. You can often time sign a contract with the health care agency or government agency who pays you for however many months the client stays. The result is they pay you upfront and revenues are oftentimes higher than that of short term rentals. Great story!
You are on your way to creating a property empire. Take your equity out of the first property and do it again. I did similar to what you did, and I was able to buy another property every second year until I had eleven units.
Just so people watching this understand, you can build a duplex that's very small. For example, a small 600 sq ft per side shotgun-style duplex can be self-built for 1/10th the cost of the house in this video. The 600 sq ft is a common minimum square footage allowed in most areas of the US. My point is don't let the big numbers in this video scare you away from owning a duplex.
Very smart to do this. The loan and duplex is considered owner-occupied. Even if you build it, you live in one side. You get better terms for the loan. Very motivated, young people doing the right thing.
@ZavHustles I'm South of Nashville and will be starting my build soon. I'm thinking of getting my builders license like they did here so a contractor isn't fully in charge of my entire build
@ZavHustles well if you are your own contractor you'd save a ton of money by not paying one to custom build your property. You'd just be contracting out the labor yourself (plumber, electrician, roofer, etc)
Both of you are very good investors..The duplex home looks so amazing. You guys did a phenomenal job. I love you, hold down the core every picture you put into that duplex ..I’m definitely going to reach out to you..when I’m ready to purchase me a home..!!
It's great to see you guys accomplished one of your goals. I will be contacting your agency Ms. Nicole very soon concerning buying a home. I love your expertise.
i'm sure lot of commenters are from CA or TX thinking the same thing... that's a damn good bargain! here contractors charge 20-30k just for plumbing to be upgraded. congrats to you
GREAT VIDEO! Thank you for sharing. Can you do a video of a step by step outline of what is needed to get this done. Like credit scores, are there zoning restrictions, do you need to have a real estate license? Again thank you for sharing.
I love the idea and thank you guys you did a tremendous job. and give so many dreams the courage to do it. I will definitely try to do this in the future.
Wow I’m soo pissed and happy, jealous yet proud of yall. This definitely triggers buyers remorse for my situation 340k sfh in Dallas Texas. (I’m single BUT, I’m exempt from taxes so it’s manageable)
Great video! And I watched your breakdown of the estimated vs actual costs video, too! Just curious what the LTR (long term rental) income would be for one of your units? And it looks like you took out a $500K mortgage @ 25% down and 6% interest rate to payoff the construction loan and build a nice nest egg for yourselves and for rainy days! 😊
Absolutely, the best way to go. One needs to however, move further away from the urban area to get a nice piece of property and a decent price. The urban areas now have overpriced old homes so it would not be cost feasible. One property at a time is the way to go for anyone to create their property empire. Just do initial savings so you can put as much money upfront, with the ridiculous interest rates that are presently available. Your duplex layout is clean, like in Germany. Hope you have great tenants renting.
How do you choose finishes ? Are you buying at local home depot lowes or a local supplier or online ? I always think of how Im going to replace this item is it easily accessible.
We source materials from a variety of places but mostly local builder supply stores. Durability definetly stayed top of mind when we picked out the finishes and hopefully if we need to replace items in the future, we can find them or something similar!
I know you provided a high level account of the cost breakdown, but can you cover the costs associated with knocking down the existing home and carrying costs on the mortgage to do so? Or were those costs covered in that initial 28k plus 33k you already highlighted? I’m very curious to know what happens to the first mortgage payment when you buy a plot with an existing home on it.
We discuss the specific costs for knocking down the existing home in the full cost breakdown video! But to answer your question, the cost was part of the cash we invested in the project. We took the house down before taking out the construction loan to start the build.
Thank you! The easiest way to get into house hacking is to buy a multifamily property. You can buy a 2-4 unit property with an FHA loan (as little as 3.5% down) as long as you occupy one of the units! Buying is going to be more straight foward as building does come with additional hoops to jump through!
Question, did you have to get a permit for the duplex build or was the lot already zoned for a duplex? Also how did you find a builder or GC to build the duplex?
We did need to obtain building permits! The lot we built on was already zoned properly for duplexes so there was no need to re-zone. Kachi is a licensed builder so he was the one who oversaw the build! Would it be helpful for us to make a video of how to find a good GC?
We did need to obtain building permits! The lot we built on was already zoned properly for duplexes so there was no need to re-zone. Kachi is a licensed builder so he was the one who oversaw the build! Would it be helpful for us to make a video of how to find a good GC?
Thanks for sharing. I think I need to leave Texas. Homes that are 250k are around 500 a month for taxes alone. Might need to move back to Kentucky were taxes around 75 a month shoot.
Y’all so smart. It looks better than those tiny homes. Not really a fan of duplexes though. But I love how you two made this duplex a cool look with comfort.
We took out a construction loan for the duplex that we will be refinancing, most likely into a conventional loan. Although we could have pulled the equity out with a cash out refi, we decided against it and opted for a lower mortgage payment for now!
@@NicoleNark Good strategy! Thanks for being honest. Me and wife just bought our first home and are looking to buy another. Always good to hear others testimony
It would be dependent on any financing stipulations! For example, we don’t have a certain timeframe that we must occupy the home. However, if we were to purchase this duplex with something like an FHA loan for house hacking, we would be required to occupy it as our primary residence for one year. Hope that helps!
Thank you Nicole! My partner and I don’t have much for a down payment and would like to build with an fha loan or something similar as a hack to get into real estate investing and would like to sell soon after building. Thanks again for your input!
New subscriber here. If im understanding right the entire duplex’s mortgage is 2349 and renting 1 side of the duplex of using airbnb rental youre netting 2979 average a month before renting the other side or airbnb etc. Or am i understanding wrong.
Thanks for subscribing! Monthly gross income from renting out the one unit is averaging $2979. After paying the mortgage (for the entire building) of $2349 we net about $630/mo.
Do you mind if I ask about the appraisal value of the home after construction? I’ve seen duplexes in the Central AR area selling for about what you built yours for- $320K - $340k. Why put yourself through all that work to save a few thousand dollars?
@@KachiDubisi I think you misunderstood my intentions with my previous question. I’m not trying to criticize. Just trying to seek knowledge. Can you share the benefits of building vs buying? Really appreciate the awareness you’re creating in the real estate industry
I think it really just depends on your personal goals. The values in Central AR differ dramatically by neighborhood and even sometimes by street! For us, we had a very specific layout and location that we wanted. At the time, there were not any duplexes available that checked the boxes. In our case, our nuild costs came in well below what I believe the market value is if were were to sell it today! Hope that helps 😊
Taxes will follow the land value only until the property is complete and the end value has been assessed. For this reason, propety taxes will change between the first and second year you own a new construction home.
Our construction loan converted into permanent financing after completion of the build. Now instead of just paying interest (as we did throughout the build process), we make principal and interest payments. There is only one loan. Hope that helps!
If you build a 3rd property and rent your half of this duplex, you will have the new property mortgage paid for and have cash flow. What happened to the first property?
This is in Arkansas. Keep in mind that the loan amount is less than 300k. Market value of the duplex is closer to 600k which is why the taxes will be much higher when assessed.
Only way they get stuff for free is to extract it by default from someone else. My "renters" will not pay full housing prices because they are making me rich by renting from me!!!! But some people......
Great question! We have experience with long term rentals already and honestly just wanted to try something new. I wasn’t sure if airbnb would work in our area since it isn’t touristy. Up until this point, we have only had long term rentals where we didn’t need to coordinate with guests, cleaners, etc. We ran the numbers and felt confident that we could rent out one side long term if needed, but living just next door gave us the courage to pursue a new short term strategy!
@@TSBye-qo1vc But they would have loads of time to do something else, rather that always come and clean when a new short term rental is done, and replace different stuff all the time. Short term takes a bigger toll on the rental than long term, usually :P
@dennisoestermann1880 Not true. I have an Airbnb property that I manage remotely. I never clean or replace anything I have a maid that refreshes thd property after every guest and I have a handyman incase anything needs to be fixed.
@@Flush0000 You just confirmed what i wrote. If you have a succesfull short term rental and gets new guests every week, your maid comes in 52 times a year. So lets just say 50 times. And the average pay in the US is $18.11 for a maid. And it takes 2 hours every time. And lets say your handyman needs to come in half as much to do repairs and gardening. But it takes 3 hours every time, cause some repairs is large. A handymans average pay is $25.49. So lets do the math. Maid: $18.11x2= $36.22x50= $1811 Handymand: $25.49x3=$76.47x25= $1911.75 And that adds up to $3722.75 in wages. And add that to all the materials you need to buy ect. Depending on where your short term rental is in the US, it can be 2 months mortage just in wages or more. And lots of short term renters dont have the same respect for your property as long term renters. But its your choice :P
It still isnt cash flowing when you factor in the taxes you got to pay for the Airbnb. This is also factoring write offs. However it doesnt hurt and this really was smart
![ไลฟ์สุ่ม iPhone 295 บาท... โกงมั้ย?[ โกงมั้ยครับ ep.97 ] | DOM](http://i.ytimg.com/vi/gdstHEE4UUE/mqdefault.jpg)
Watch the FULL construction costs breakdown for our duplex OUT NOW! → th-cam.com/video/zwhcDG5E6eI/w-d-xo.html 👀
please pin this post, it's buried (via algorithm) and not easy to find
What did you guys do with the first single home yall brought before the duplex construction?
You should look into mid-term renting to traveling nurses or government contractors. You can often time sign a contract with the health care agency or government agency who pays you for however many months the client stays. The result is they pay you upfront and revenues are oftentimes higher than that of short term rentals. Great story!
Great point! This is something that we have looked into but not thoroughly. Definitely a solid option as well ☺️
What state did you do your project in? If you don't mind disclosing. Location is everything and housing prices are crazy in certain areas.
@@cyrilhall3845yes please answer this.
What type of government contractor?
@@ddub2801 Google it
You are on your way to creating a property empire. Take your equity out of the first property and do it again. I did similar to what you did, and I was able to buy another property every second year until I had eleven units.
That's the goal!
Do you show how ?
Did you build duplexes to add housing to the market or did you just hoard housing that had already been built?
@@josephsands7938 I purchased existing dilapidated homes, and apartment buildings and renovated them back into rentable housing stock.
@@josephsands7938what difference does that make? To you?
Just so people watching this understand, you can build a duplex that's very small. For example, a small 600 sq ft per side shotgun-style duplex can be self-built for 1/10th the cost of the house in this video. The 600 sq ft is a common minimum square footage allowed in most areas of the US. My point is don't let the big numbers in this video scare you away from owning a duplex.
Great point! I’m glad you shared this
Very smart to do this.
The loan and duplex is considered owner-occupied. Even if you build it, you live in one side. You get better terms for the loan.
Very motivated, young people doing the right thing.
Thank you! We have found it to be an awesome strategy.
27k for the lot and 290k for build seems insanely good for what you guys got, that same build woulda been 2-3x more here in Nashville
Nashville construction costs are super high, but your home values are also much higher!
@@NicoleNark not even just the construction but the land as well
@ZavHustles I'm South of Nashville and will be starting my build soon. I'm thinking of getting my builders license like they did here so a contractor isn't fully in charge of my entire build
@@professionalismwithpassion what does a license allow you to do exactly?
@ZavHustles well if you are your own contractor you'd save a ton of money by not paying one to custom build your property. You'd just be contracting out the labor yourself (plumber, electrician, roofer, etc)
What an awesome idea and smart investment! A breakdown of the costs around the build itself would be great! Thank you!
Noted! We are working on the video with a cost breakdown ☺️
@@NicoleNark that was absolutely awesome. Great way to think out of the box. Can't wait to see the breakdown
@@smitty8350 thank you! The cost breakdown is out now ☺️
Both of you are very good investors..The duplex home looks so amazing. You guys did a phenomenal job. I love you, hold down the core every picture you put into that duplex ..I’m definitely going to reach out to you..when I’m ready to purchase me a home..!!
Thank you so much! 🥰
Me too!
It's great to see you guys accomplished one of your goals. I will be contacting your agency Ms. Nicole very soon concerning buying a home. I love your expertise.
Thanks Kelvin! ☺️ I’d love to help in any way I can.
i'm sure lot of commenters are from CA or TX thinking the same thing... that's a damn good bargain!
here contractors charge 20-30k just for plumbing to be upgraded.
congrats to you
Wow! And I thought our plumbers charged a lot 👀
That’s awesome! House hacking is such a smart way to live for free while building equity. Can’t wait to see the breakdown and tour of your duplex! 🏡💰
you guys seem very amateur on camera but I love it... gives the sense of real, everyday people!
Soo nice. Well done.
Best of luck with your further ventures..
Thank you so much! 🥰
GREAT VIDEO! Thank you for sharing. Can you do a video of a step by step outline of what is needed to get this done. Like credit scores, are there zoning restrictions, do you need to have a real estate license? Again thank you for sharing.
Sure thing! ☺️
@@NicoleNark Thank you.
I love the exterior paint. What color is that?
Mannnnnn that’s a nice home. Congratulations!
Thank you so much! ☺️
This is great information . thank you for the breakdown.
The units look amazing! Smart planning is key, I wish I had that earlier in my life.
Thank you so much! ☺️
I love the idea and thank you guys you did a tremendous job. and give so many dreams the courage to do it. I will definitely try to do this in the future.
The house looks great! Can you give us a full video house tour? Would love to watch...
Congratulations! Can you tell us about cost breakdown for construction?
Absolutely! Do you have any specific questions you’d like us to answer? Or just general cost breakdown between the trades?
Wow! You two are very transparent
My Boy Kachi. Great Stuff man.
What a great project to take on especially since it's allowing for a mortgage free living! Always great content from your channel.
Thanks for tuning in, Jessie! This has been a fun project for sure ☺️
Why the “?” mark? Are you asking if you’re living free?
lol good question! I guess I was hoping to make people like you curious!
Wow I’m soo pissed and happy, jealous yet proud of yall. This definitely triggers buyers remorse for my situation 340k sfh in Dallas Texas. (I’m single BUT, I’m exempt from taxes so it’s manageable)
Great video! And I watched your breakdown of the estimated vs actual costs video, too! Just curious what the LTR (long term rental) income would be for one of your units? And it looks like you took out a $500K mortgage @ 25% down and 6% interest rate to payoff the construction loan and build a nice nest egg for yourselves and for rainy days! 😊
Are you serious??? You did it again......Bravo!!!!!!
Thank you so much! 🥰
Thank you for dropping this awesome content!
You are so welcome! ☺️
I was planning on doing something similar. Very interesting.
Definitely worth looking into!
Outstanding... I didn't know new builds could be financed... That's a game changer...
I am assuming they got the loan after the build was done....similar to a refi
They can definetly be financed! Check out my video on construction loans for more details on how they work. They are a GAME CHANGER!
Can you share where did you purchase the plans for this duplex ?
Absolutely, the best way to go. One needs to however, move further away from the urban area to get a nice piece of property and a decent price. The urban areas now have overpriced old homes so it would not be cost feasible. One property at a time is the way to go for anyone to create their property empire. Just do initial savings so you can put as much money upfront, with the ridiculous interest rates that are presently available. Your duplex layout is clean, like in Germany. Hope you have great tenants renting.
Thank you so much for watching this (and the other) videos! I'm glad you like the duplex layout!
You nailed it. What city are you? Would be interested in getting something in that city?
Their in Arkansas
This is awesome, where are you located?
Arkansas
I’m interested in a cost breakdown!
You got it! I’ll have it out next ☺️
This project looks awesome, congrats! Could be more cash flow as a midterm rental? Maybe through furnished finder?
Also curious what this property has or could appraise at? Have you gained enough equity to potentially cover that $60k out of pocket?
Thank you! We do have the unit listed on furnished finder as well but so far have not experienced the same success as with airbnb.
How do you choose finishes ? Are you buying at local home depot lowes or a local supplier or online ? I always think of how Im going to replace this item is it easily accessible.
We source materials from a variety of places but mostly local builder supply stores. Durability definetly stayed top of mind when we picked out the finishes and hopefully if we need to replace items in the future, we can find them or something similar!
Amazing, congratulations from Brazil 🎉❤
Thank you! I appreciate you taking the time to watch ☺️
This thought crossed my mind too.
looks great👏🏾
Thank you!
Did you do the construction loan as individual/personal loan or business loan? Did you do loan with a big bank or a local bank? Thanks
We use a local bank. The loan was for business with a personal guarantee
You guys have blueprints available?
I know you provided a high level account of the cost breakdown, but can you cover the costs associated with knocking down the existing home and carrying costs on the mortgage to do so? Or were those costs covered in that initial 28k plus 33k you already highlighted? I’m very curious to know what happens to the first mortgage payment when you buy a plot with an existing home on it.
We discuss the specific costs for knocking down the existing home in the full cost breakdown video! But to answer your question, the cost was part of the cash we invested in the project. We took the house down before taking out the construction loan to start the build.
@@NicoleNark thank you. Pulling other video now. Thanks so much.
Congratulation! How can I also do that too?
Thank you! The easiest way to get into house hacking is to buy a multifamily property. You can buy a 2-4 unit property with an FHA loan (as little as 3.5% down) as long as you occupy one of the units! Buying is going to be more straight foward as building does come with additional hoops to jump through!
$72 in taxes is nothing, I pay 1k a month in texas, where do you guys live.
We are in AR. Property taxes here are much lower than in TX but we have income tax.
It’s all good over there, I’m in commyfornia,tax’s here are ridiculous 🇺🇸🥺
$72 left after taxes are accounted for
What!! 1k for tax? Mine is 10k per year wtf!! I live in ohio
@@samlocoaa1726 1k a month, roughly 12k a year
Great job guys! Where are you located?
Arkansas
Beautifully!!! Amazing! 🤗🙏🏿👏🏿👏🏿👏🏿🙏🏿🤗
Thank you so much!
Question, did you have to get a permit for the duplex build or was the lot already zoned for a duplex? Also how did you find a builder or GC to build the duplex?
We did need to obtain building permits! The lot we built on was already zoned properly for duplexes so there was no need to re-zone. Kachi is a licensed builder so he was the one who oversaw the build! Would it be helpful for us to make a video of how to find a good GC?
We did need to obtain building permits! The lot we built on was already zoned properly for duplexes so there was no need to re-zone. Kachi is a licensed builder so he was the one who oversaw the build! Would it be helpful for us to make a video of how to find a good GC?
@@NicoleNark yes that would be great!!
Wow. Great job!
Thanks!
What is your monthly payment for that 300k loan a month and how your yearly taxes looking like since you rent one and live in the other duplex
Beautiful home!
Thank you so much!
Where did they find a lot for $27,000? What city? In or outside city limits? Talk about a deal that is a deal!
I think they’re in Arkansas, but I don’t know what city. It sure is a deal!
What flooring was used?
We used vinyl plank with tile in the bathrooms
Wow that's amazing. Congrats.
Thank you so much 😀
I love this idea! Would you please share the cost breakdown with me? Thank you!
Just finished filming it! I'll have it out asap 😊
What did you guys do with the first single home yall brought before the duplex construction?
We sold it!
I wanna get into real estate too, hopefully I can learn from ur vids 🙌
You can do it! 🎉
Nice build 🎉! I'm looking to do the same. Can you give me a cost breakdown over the trades? Thank you.
Absolutely! We will cover this in the next video
Thanks for sharing. I think I need to leave Texas. Homes that are 250k are around 500 a month for taxes alone. Might need to move back to Kentucky were taxes around 75 a month shoot.
The property taxes are high in TX but you don’t have income tax! There are trade offs
Even if the home is paid off how much do Texas residents pay in property taxes?
@@rogeliobarraza1772 You still pay the same even if home Paid off
Very very nice! 👌🏾
Thank you! 😊
Y’all so smart. It looks better than those tiny homes. Not really a fan of duplexes though. But I love how you two made this duplex a cool look with comfort.
Thank you! It was our goal to make a pretty, homey feeling duplex. Not a duplex that felt like a cheap rental unit ☺️
How did you guys go about finding a construction company for the build? Are you satisfied with the build?
We did it ourselves. Kachi has a builder’s license.
This is awesome
Thank you!
Congrats!! Did you cash out refi for the second purchase?
We took out a construction loan for the duplex that we will be refinancing, most likely into a conventional loan. Although we could have pulled the equity out with a cash out refi, we decided against it and opted for a lower mortgage payment for now!
@@NicoleNark Good strategy! Thanks for being honest. Me and wife just bought our first home and are looking to buy another. Always good to hear others testimony
@@jarod133 congrats on your purchase! Happy to answer any other questions you have.
How long do you have to live in something like this before you can sell it?
It would be dependent on any financing stipulations! For example, we don’t have a certain timeframe that we must occupy the home. However, if we were to purchase this duplex with something like an FHA loan for house hacking, we would be required to occupy it as our primary residence for one year. Hope that helps!
Thank you Nicole! My partner and I don’t have much for a down payment and would like to build with an fha loan or something similar as a hack to get into real estate investing and would like to sell soon after building. Thanks again for your input!
Hi Nicole, I am new to your channel(my first time seeing your videos). I have a question. Where is this building located?
Hi and thanks for watching! We are in Arkansas 😊
First, have money lol.
It looks really nice guys!
That’s why we started with our little house first! Had to grow our money in order to make it feasible.
@@NicoleNarkdid you have to sell your first home or do you still have it?
great job guys, what part of the country do you live !
Arkansas
wow where do you guys live? Those prices are incredibly low. In Long Isand or Queens, we literally pay 600k for a very old 3bd 2bath property
We are in Arkansas
👍👍 but I hope y'all are double down on payments right now why the time is good. Let's say you have 15 year loan you will pay it off in 10. 05-03-24
New subscriber here. If im understanding right the entire duplex’s mortgage is 2349 and renting 1 side of the duplex of using airbnb rental youre netting 2979 average a month before renting the other side or airbnb etc. Or am i understanding wrong.
Thanks for subscribing! Monthly gross income from renting out the one unit is averaging $2979. After paying the mortgage (for the entire building) of $2349 we net about $630/mo.
@@NicoleNark gotcha, thank you!
Awesome!!!
Thanks!!☺️
Do you mind if I ask about the appraisal value of the home after construction?
I’ve seen duplexes in the Central AR area selling for about what you built yours for- $320K - $340k.
Why put yourself through all that work to save a few thousand dollars?
You should probably learn more about real estate investing, then you might get a clearer picture of what’s going on here.
@@KachiDubisi I think you misunderstood my intentions with my previous question. I’m not trying to criticize. Just trying to seek knowledge.
Can you share the benefits of building vs buying?
Really appreciate the awareness you’re creating in the real estate industry
I think it really just depends on your personal goals. The values in Central AR differ dramatically by neighborhood and even sometimes by street! For us, we had a very specific layout and location that we wanted. At the time, there were not any duplexes available that checked the boxes. In our case, our nuild costs came in well below what I believe the market value is if were were to sell it today! Hope that helps 😊
What changing taxes are you talking about and why are they changing?
Taxes will follow the land value only until the property is complete and the end value has been assessed. For this reason, propety taxes will change between the first and second year you own a new construction home.
How wonderful
Thank you! 😊
marus brownine mixed with dj ak vibez >.> luv you tho bro
I would like to do this. I love it beating the system
Yes! Such a good strategy for real estate investing 🎉
Ironic you did that. Im looking to build a similar 4 unit. Older homes are too high. Smart move.
A 4 unit would be awesome!
Thats good! What city was this built in? Pretty cheap.
Thanks! Little Rock, AR
It pays for motgage but what about the construction loan?
Our construction loan converted into permanent financing after completion of the build. Now instead of just paying interest (as we did throughout the build process), we make principal and interest payments. There is only one loan. Hope that helps!
@@NicoleNark yes it does, just read on it as ive never heard of this option. Thanks for the info!
Where do you get land for 30k
Arkansas!
Which city is it in ?
Somewhere in Arkansas
nice deal would like to connect with you guys
If you build a 3rd property and rent your half of this duplex, you will have the new property mortgage paid for and have cash flow. What happened to the first property?
We hope to keep compounding just like you explained to grow our real estate portfolio! We ended up selling the first property
Great work 👍🏾💯
Thanks Damien! We appreciate you taking the time to watch
Thanks for sharing!👏🏿👏🏿🔥🔥💥💥❤️❤️💎💎
Thanks for watching! 🎉😊
Nice 🔥🔥🔥
Thanks Byron!! ☺️
2:38 I feel like I need to win the lottery to even start in my area. I'm not joking when lots around me are going for 475K for just the land.
Wow! What market are you in?
Nice, when are you guys getting married🎉
What city is this in??
This looks like Houston, am I right?
Central Arkansas!
Can you share your blueprints I want to do a similar build in GA
We may in the future! At this point in time, we aren’t sharing them
Those property taxes are high. What city is this where the taxes are 7k annually on a property below 300k? Must be somewhere in Texas.
This is in Arkansas. Keep in mind that the loan amount is less than 300k. Market value of the duplex is closer to 600k which is why the taxes will be much higher when assessed.
Only way they get stuff for free is to extract it by default from someone else. My "renters" will not pay full housing prices because they are making me rich by renting from me!!!! But some people......
Absolutely gorgeous
Thank you! 😊
I was wondering, Why AirBnB instead of long term?
Great question! We have experience with long term rentals already and honestly just wanted to try something new. I wasn’t sure if airbnb would work in our area since it isn’t touristy. Up until this point, we have only had long term rentals where we didn’t need to coordinate with guests, cleaners, etc. We ran the numbers and felt confident that we could rent out one side long term if needed, but living just next door gave us the courage to pursue a new short term strategy!
They wouldn't get $3,000/month for it as a long term rental.
@@TSBye-qo1vc But they would have loads of time to do something else, rather that always come and clean when a new short term rental is done, and replace different stuff all the time. Short term takes a bigger toll on the rental than long term, usually :P
@dennisoestermann1880 Not true. I have an Airbnb property that I manage remotely. I never clean or replace anything I have a maid that refreshes thd property after every guest and I have a handyman incase anything needs to be fixed.
@@Flush0000 You just confirmed what i wrote. If you have a succesfull short term rental and gets new guests every week, your maid comes in 52 times a year. So lets just say 50 times. And the average pay in the US is $18.11 for a maid. And it takes 2 hours every time. And lets say your handyman needs to come in half as much to do repairs and gardening. But it takes 3 hours every time, cause some repairs is large. A handymans average pay is $25.49.
So lets do the math.
Maid: $18.11x2= $36.22x50= $1811
Handymand: $25.49x3=$76.47x25= $1911.75
And that adds up to $3722.75 in wages. And add that to all the materials you need to buy ect. Depending on where your short term rental is in the US, it can be 2 months mortage just in wages or more.
And lots of short term renters dont have the same respect for your property as long term renters.
But its your choice :P
That's a lot of mirrors!
I love mirrors and natural light!
It still isnt cash flowing when you factor in the taxes you got to pay for the Airbnb. This is also factoring write offs. However it doesnt hurt and this really was smart
Taxes are collected by Airbnb before we get our payout! The monthly earnings shown are our net proceeds after taxes, service fees and cleaning!
These prices have me scratching my head wondering where is this??
Arkansas
House tour plz