Man... it took everything I had to prep, film, edit, etc pulling all nighters to get videos out. Then mix in kids to the scenario and I didn't find a sustainable way to keep going! I see you're at almost 10k subs, I'm sure I could learn a thing or two from you! How did you stay consistent?

1200 per side, 2400 total!

You bet!

Heck yeah! You can totally do it!

Of course! Glad it could be of assistance

Thanks for watching!

Saving cash and a Synchrony construction credit card which I’ve since paid off. About $10k on each

Thought about it briefly, but it cash flows so well that it would be hard to replace with another asset if I sold. Plus, it was a lot of work! Want to enjoy some positive cash flow, keep it, then start another one 😊

Thanks! I appreciate it, you too!!

You bet!! Best of luck on the multi fam property

Love it man! Thanks for letting me know it helped.

Thanks! Appreciate it!

Oh yeah! And you really raise the value and rental income because of it!

Only because he did most of the work. The thing is, this guys knew what he was doing. Most people attempting after watching a few videos will end up doing more damage than anything. If you were to hire most of this work out it probably would be around 70k with labor. However he did find parts for very cheap so that was a huge benefit and cost saver as well!

Heck yeah! It’s such a great way to make money. And a ton of fun!

Heck yeah man! That’s amazing

You end up getting a fourplex?!

Currently in the process of buying a triplex and looking for inspiration

So glad you liked it!!

Thanks Cade! Glad you enjoyed it. Couch flipping has been such a blast. Hope you're doing well

Thank you! I appreciate that. I tried to give as much depth as possible. 💪

What would you like to see??

@@danielphilpot7822 anything about your day-to-day if you are continuing to couch flip. Would love to follow you on a couch flip from beginning to end. I know it takes a long time to edit these videos though.

Arkansas!

Cool job bro. Just bought a duplex and am in the middle of a remodel. Never thought about Facebook marketplace. Gonna check it out

Thank you! Polished concrete is a good option with minimal maintenance. Great idea for the next one!

Thanks Man! It’s the most lucrative side hustle I’ve seen and I’ve tried a few!

Yes sir! Amazing the amount of money that can be created with a little hustle.

Thanks Aden!

Man, so appreciate the support! Buying and selling reminds me of your water bottle story. Keep inspiring!!

Thanks Jacob! Thanks again for the invite to your podcast!

Thank ya, thank ya!

Yes sir!! Thank you!

Thank you brothaa!!!

Yes sir! Appreciate the compliment, I receive it! Excited for more to come

Thanks!

Thanks David!

Thanks Beau!

Thanks! So pumped to see what you do in real estate one day! (Or in the next 60 days)

Hey Phil! Great questions. I used a few different strategies. First of all I did it over nine months so I was able to pay for it as I went. However I did use two Synchrony construction credit cards that were no interest for 12 months. I have since paid both off (incurring no interest) but they’re nice to utilize for larger expenditures such as flooring or HVAC. And I didn’t touch on tax benefits in the video, but I probably should have. In short, yes, I definitely utilized some tax jujitsu! That manifested in the form of cost segregation. Real estate is divided into certain categories in order to depreciate it accordingly. The overall structure on a residential real estate property is subject to 27 1/2 year straight line depreciation. However, there are certain interior components that can be depreciated over a much shorter timeframe such as five or seven years. These items include electrical system carpeting, millwork, appliances, fixtures, etc. Using cost segregation you can write off larger portions of your remodel expense sooner which offset your active income from the property to essentially reduce your tax burden to nothing. If you think it’s valuable I could make a video specifically on that. It’s a fascinating concept, and one that many high net worth individuals have utilized. Thanks for the question, Phil!

@@danielphilpot7822 This would be great to go over! Maybe include some info on whether you had to set up an LLC to recognize those tax benefits as well? And if not, what kind of forms/schedules you used. Thanks Philpot! Looking forward to the new content!

Thank you!

Thank you! It was a blast to make a video on it!

Yes sir 💪💪 anyone can do this stuff!

I appreciate it big dog!! I desire for others to experience the same benefits I have through real estate investing so I want to give away as much value and detail as possible.

Thank you Alena! I receive that! It was definitely a fun experience over the past year and I learned a ton.

Thanks for sharing! Now I don’t feel entirely crazy 😋 If it can save you over a $1,000, it is a no brainer!!

Thanks David. 9 more bangers coming down the line in this series!

Thanks Josh! Any insights or recommendations??

@@danielphilpot7822 For removing thinset: angle grinder with a masonry wheel is my best friend. I have a nice De-Walt angle grinder from a charity auction. It does the trick! I also found a giant 45 pound angle grinder with a 7" cut off wheel from the 1940's-50's...It's a beast! It has no safety features to speak of, so it frightens me a little. It may work even better... (although, watching this video at 2x speed, I slowed it down and realized how much tile you were actually working with. You made the right call! Opportunity cost is also a big factor - for example, if you can work 8 hours and make $40 an hour, and you can hire someone to do your other work for 8 hours at $20 an hour, you are still $20 an hour ahead, but you probably already knew that.) Moral of the story: an entrepreneur can never have enough tools, cheap tools, expensive tools, doesn't matter, as long as they get the job done and you get your money out of it. They all pay for themselves eventually, as long as you keep using them! I'm even in the process right now of designing and patenting my own tool! Tools are what gets the entrepreneur where they need to go, from a tool as simple as a pen, to lathes, and welders, bulldozers and software packages. Use them all! You won't regret it. Toilets: Toilets are the number one thing I'm always fixing. Replacing toilets is always a good idea. Never use the wax rings. Replace every single one with a rubber ring. I have been doing that for the last 15 years, and none of those have ever had an issue. They are re-usable, and much cleaner. Building materials: stay away from Habitat for Humanity. It's way too tempting. Buy exactly what you need, or don't buy it at all. I have found some great things there, but also wasted a lot of money and effort going there. It makes me sad to say that it's really hit or miss. Stick to the shopping list. Drywall: You were very fortunate, and smart when working with your drywall. That's one thing I always look for when buying houses. You want to have good drywall. It's a pain to fix. One really good tip, two words, I learned in drywall repair: Silica Sand. You mix it in with your paint and roll it on and it creates a texture that hides almost everything. Painting: I have painted many rooms. I have used brushes, rollers, and sprayers. I have used 5 gallon bucket paint sprayers and hand-held sprayers. My favorite sprayer is the Graco True Coat 360 Airless hand-held paint sprayer. It retails for about $160, but the quality is just right where it won't disappoint. I painted a 4 bedroom house in 24 hours one time. That was excessive, but completely worth it. The 5 gallon bucket sprayers waste a lot of paint and are difficult to clean. I have 2 in my garage that have only been used once. I always go for the hand held one. Tenants: If there is a bug problem, go over there and spray it yourself. Keep in contact with your tenants, let them know you are there to serve them. I always end up fixing some other minor thing while I'm over there spraying for spiders or ants, even though I was not planning to. Always keep a multi tool in your pocket, and a hammer, flash light, and measuring tape in the back of the car. I probably shouldn't write a book on this, so this is where I will end. You are doing really great! You are thinking like a land lord.

When can I get YOU on the KZbin channel?? That was amazing Josh! Thanks for sharing all that knowledge.

Thanks Jenae!!