This one low cost triplex could replace your W-2 income

[@kelankline]

Love the case study video Kirby. Curious how long the rehab took? Did you use a contractor you already knew? How much time & effort did you have to put into the property for the rehab?

[@LivingOffRentals]

Thanks buddy! It took about 5 months from start to finish, since on a project this size you have to stack the different trades behind each other, and can’t have everyone working at once. Yes, we have a great crew with a head GC that’s done lots of projects for me at this point, so my first physical involvement was pretty minimal just because we are so synched at this point. I wouldn’t ever recommend a rehab if this size for a first deal to anyone, but these numbers can still be achieved on properties requiring less rehab.😃👍

[@felixsharpe3996]

Wow. Well done. I just did a property in similar shape. This inspires me.

[@LivingOffRentals]

Awesome! These projects are challenging, but also super rewarding!😃👍

[@kyleross2146]

Crazy... pretty cool love all your details

[@LivingOffRentals]

Thanks a lot! That's all my wife! She is definitely the designer in the family! :)

[@kyleross2146]

@@LivingOffRentals you mean the video details like pop ups and b roll ? that's what i meant anyway haha

[@LivingOffRentals]

@@kyleross2146 gotchya! I thought you meant in the house itself. Appreciate it either way and I’ll let my video editor know he’s doing a great job!😃

[@wisdomandlove1661]

@@LivingOffRentals do you mind saying how you found this property

[@LivingOffRentals]

@@wisdomandlove1661 yep no problem. As soon as I saw it was listed on the realtor.com, I called the listing agent directly and had her represent me as the buyer and also represent the seller, and negotiated the deal directly through her.

[@JaimeLynn2002]

I always enjoy your videos, Kirby. Thank you for sharing. 😎

[@LivingOffRentals]

Thanks so much! Really glad to hear you get value out of them! :)

[@zoranstanoev9531]

Curious what the listing said about the tenants? Did it indicate that seller was willing to terminate the leases before closing? Or did it take some negotiating? I find that unless a property was just rehabbed, it’s hard to find them without leases in place and tenants that need to be inherited.

[@LivingOffRentals]

Great question! Two of them were month to month, and the owner offered a moving fee to help the third find a new place to move to and break her lease. They all knew that the building was in terrible disrepair and they were better off finding a better place somewhere else.👍

[@entrepreneur72]

What systems or software do you use to automate your check ins / check outs, and communication with the guests?

[@LivingOffRentals]

Great question! In the beginning we just used Airbnb itself. I think that’s the best thing to use until you have a handful of properties, then we used iGMS and it was ok, but had a lot of technical glitches. We recently moved to OwnerRez which is super comprehensive and we like it a lot, but it definitely takes some time to get used to.