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!
@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)
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.
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.
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..!!
I will as well. Reach out and touch a home purchase is limited.. but i think i am willing to relocate as well.. Arkansas or even Virginia.. or Utah.. Idaho.. narrowing it down with a low retirement spot and still accessible for trips out of the state.😮🎉🎉🎉
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.
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 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.
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'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! 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! 😊
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)
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!
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?
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.
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.
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!
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.
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
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!
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 😊
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?
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!
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.
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.
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
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.
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?
What is the Lot size?
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
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)
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.
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 ☺️
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?
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!
I will as well. Reach out and touch a home purchase is limited.. but i think i am willing to relocate as well.. Arkansas or even Virginia.. or Utah.. Idaho.. narrowing it down with a low retirement spot and still accessible for trips out of the state.😮🎉🎉🎉
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
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.
Soo nice. Well done.
Best of luck with your further ventures..
Thank you so much! 🥰
you guys seem very amateur on camera but I love it... gives the sense of real, everyday people!
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.
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'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 👀
The house looks great! Can you give us a full video house tour? Would love to watch...
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! 🏡💰
The units look amazing! Smart planning is key, I wish I had that earlier in my life.
Thank you so much! ☺️
Mannnnnn that’s a nice home. Congratulations!
Thank you so much! ☺️
Very inspiring!! Is possible to share the floor plans?
Great work! Where do you rent this out at? do you strictly keep it a short term rental? Or mix of median and long term rent too?
This is great information . thank you for the breakdown.
I love the exterior paint. What color is that?
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!
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! 😊
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?
What are some of the maintenance cost you've incurred after building and renting? Great video and info. Thanks for sharing.
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)
Wow! You two are very transparent
Can you share the building plans? I love the layout.
Is that figure from Airbnb taking into account the expenses of cleaning & using the platform?
I live in Virginia, how do you think I can get a hold of a good builder ? or should I be hiring separately?
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!
Thank you for dropping this awesome content!
You are so welcome! ☺️
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!!
Can you share where did you purchase the plans for this duplex ?
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.
You nailed it. What city are you? Would be interested in getting something in that city?
Their in Arkansas
My Boy Kachi. Great Stuff man.
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
Thanks for sharing and not being a gate keeper.
How long did it take you to complete build
How many beds how many baths?
Love you guys
This is awesome, where are you located?
Arkansas
I was planning on doing something similar. Very interesting.
Definitely worth looking into!
$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
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!
Will like to see you plan
You guys have blueprints available?
Great Style!
Soooo cool !!!
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.
Amazing, congratulations from Brazil 🎉❤
Thank you! I appreciate you taking the time to watch ☺️
May I ask what city you built this duplex in?
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!
Great job guys! Where are you located?
Arkansas
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!
Do you guys have a day job outside of this house?
I wanna get into real estate too, hopefully I can learn from ur vids 🙌
You can do it! 🎉
What did you guys do with the first single home yall brought before the duplex construction?
We sold it!
What flooring was used?
We used vinyl plank with tile in the bathrooms
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
looks great👏🏾
Thank you!
Are you serious??? You did it again......Bravo!!!!!!
Thank you so much! 🥰
I’m interested in a cost breakdown!
You got it! I’ll have it out next ☺️
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!
This thought crossed my mind too.
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
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.
Beautiful home!
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 😊
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!
Wow. Great job!
Thanks!
Beautifully!!! Amazing! 🤗🙏🏿👏🏿👏🏿👏🏿🙏🏿🤗
Thank you so much!
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 😊
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!
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 😊
Where do you get land for 30k
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
great job guys, what part of the country do you live !
Arkansas
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
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.
Wow that's amazing. Congrats.
Thank you so much 😀
Which city is it in ?
Somewhere in Arkansas
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
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!
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?
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.
What city is this in??
This is awesome
Thank you!
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 ☺️
nice deal would like to connect with you guys
Thats good! What city was this built in? Pretty cheap.
Thanks! Little Rock, AR
👍👍 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
Thanks for sharing!👏🏿👏🏿🔥🔥💥💥❤️❤️💎💎
Thanks for watching! 🎉😊
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!
what state is this in?
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
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!
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.