How a New Investor Built a Duplex Rental From Scratch

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🎙️ Episode 302 - Dive into Kyle's story from finding the perfect lot to navigating the construction process and revealing the numbers behind constructing his duplex property from the ground up!
📄 Show Notes: www.coachcarson.com/rentalcon...
🎬 Timestamps:
0:00 - Intro
5:16 - Kyle's background
8:33 - Kyle's motivation to build a duplex
10:13 - What Kyle looks for when building a property
14:28 - How Kyle found the lot for his property
17:37 - Kyle's due diligence
19:15 - How Kyle prepared to build the duplex
20:30 - The general process of construction
30:31 - Finishing up construction
31:04 - What can delay construction
33:34 - The move in process
39:45 - The numbers on the duplex
44:44 - What's next for Kyle
45:55 - Biggest lessons Kyle learned
48:16 - Where to stay in touch with Kyle
50:06 - Outro
🔗 Connect with Kyle:
Kyle on Instagram: / kylesikkila
🔗 Show Links:
• DIY Home Designer Software: www.homedesignersoftware.com/
• Profit-Loss of Kyle's duplex rental: drive.google.com/file/d/1ZVbl...
• Construction Cost Breakdown of Kyle's duplex rental: drive.google.com/file/d/1p2Qb...
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[@user-wu1kg7yn5p]

Lots a great little details to this video! Thanks so much! fascinating!

[@jeannepaul4491]

A very interesting and impressive interview! Great job!

[@felisak6053]

I lived in Spartanburg, SC and purchased a new constructed home, but I am already looking for a new home to invest and having duplex is I think the best idea.

[@joshmoore5765]

Great episode and channel. Thanks

[@michaelgunn6895]

GREAT VIDEO THANK YOU

[@wolfpack2233]

Been looking forward to this one! Kyle has some great information.

[@CoachChadCarson]

agreed! Kyle was impressive.

[@leeroach3381]

Very helpful Thank you for sharing

[@timothypalmquist8863]

Fun episode! I am a carpenter and did nearly the same. I put some cash in and built a duplex from the ground up that I now rent both units out. I think this is an underutilized niche that I plan on taking advantage of over the next years. I am getting my general contractor license now so I will be able to build rentals with zero money in. Actually I would be able to pull money out of the units after I build them without putting money in.

[@veerenchithriki2803]

Excellent episode coach

[@CoachChadCarson]

glad to hear it! Thanks for watching!

[@r.5108]

great video

[@CoachChadCarson]

Thanks!

[@jerusspry1609]

Thank you

[@rickertpropertygroup]

Nice job on this video from you both!!!!! Love the granularity and steps. We have done ground up and so important to schedule those trades properly, agree! All the best , Mark Rickert The honesty about foreclosures was so refreshing. Most people only share the wins! Nice

[@CoachChadCarson]

Thanks so much! I love those granular details so I'm glad you liked it as well. Agree on it being refreshing to hear the good and the challenging of a journey. Nobody has 100% wins!

[@angelalove9681]

​@@CoachChadCarsonàaaa😅

[@jamesowens2781]

New sub

[@CoachChadCarson]

Thanks and welcome!

[@benjaminweinreis9764]

Hey Coach! What’s your take on doing build to rent? Is there a good model that you recommend following? I’m doing a flip house right now that sits on a double lot and has access from the front and back - considering doing a duplex and or tri plex!

[@pyrochickhop8339]

I was told that it is the property that seasons while you are building and determines the 2 years, not when the house is finished. Is this true and can you please clear this up?

[@CoachChadCarson]

I'm not sure on this one! Good question for a CPA to research the tax code (I'll let you know if I learn the answer). Maybe Kyle will know when he reads this!

[@kylesikkila442]

The 2 years starts once you move in. You have to both own and live in the home for 2 of past 5 years to exclude gain. They don’t have to be the same 2 years though.

[@pyrochickhop8339]

Hmm, this explains why a homeowner nearby built a structure, lived in it for 1 5 yrs, then built a Mcmansion next to it, converting the shed to a 3-car garage and sold capital gains free. Some people are so smart!

[@paulmeek537]

This is interesting. As a CPA you would think he would be aware that investment in the S&P 500 has historically outperformed real estate

[@elenajukes-kt8uh]

While the S&P has historically outperformed real estate, if you own real estate you can use them as income generators whereas high dividend funds are less likely to provide solid income, and if they do it's taxed at a higher rate than real estate if you're doing it correctly as far as I know. I may be wrong, feel free to correct me! General contracting is also a lucrative job that's incredibly rewarding.

[@TennisTD]

Any engineering?

[@TennisTD]

We had to do 1. Soils 2. Civil 3. Structural 4. Topo

[@DJStroble]

I live in greer and own a duplex in Spartanburg. Where is his link to Instagram?

[@CoachChadCarson]

I just added to description! It's instagram.com/kylesikkila