How to Build $10,000 Per Month of Income From Rentals - Interview With Kyle McCorkel
Вставка
- Опубліковано 31 тра 2024
- My new coaching & learning community, Rental Property Mastery is now LIVE.
Join us here: 👉👉www.coachcarson.com/RPM-YT
Episode 186 - Wouldn't you love to know the step-by-step details of exactly how someone is building a rental portfolio that will produce $10,000 per month of income? That's exactly what Kyle McCorkel shares in this interview. Kyle began investing on the side while working a full-time job, but he now invests in real estate full time by wholesaling and flipping houses at the same time he continues to buy more rentals. He shares TONS of helpful tips, especially about the strategies he's using today to find good deals.
COMPANION ARTICLE/SHOW NOTES: coachcarson.com/realliferentals
TIMESTAMPS:
0:00 - Kyle’s Background
03:44 - The 10k/month in rental income goal
06:21 - Key Financial Metrics
08:11 - Turnkey and The BRRRR Strategy
10:52 - Lightbulb Moment
12:58 - Buying Turnkey Rentals
14:40 - The Intelligent Investor
18:50 - Wholesaling
21:47 - Where Kyle is Located and investing
25:44 - The market Chad is investing in
29:03 - How Kyle finds deals
37:05 - How to consistently find deals
38:14 - Credibility and social proof
42:18 - The solution provider mindset
46:54 - Monetizing referrals to Realtors
48:31 - The lesson of self reliance
53:46 - Final Advice
__________
💲CREATIVE FINANCING COURSE🏘️
My online course teaches you how to use non-traditional funding sources for real estate, like private money, self-directed retirement accounts, seller financing, lease options, subject-to, and more. Includes paperwork! coachcarson.com/creativefinancing-YT
__________
🧰MY FAVORITE REAL ESTATE & MONEY TOOLS:
- Deal Machine - software to help you buy more real estate deals - www.coachcarson.com/dealmachi...
- American IRA - invest your retirement accounts into alternative investments like real estate, private loans, partnerships, and more - www.coachcarson.com/americanI...
__________
SUBSCRIBE for more videos about how to retire early with real estate investing!
🤗 ua-cam.com/users/CoachCha...
----------------
MY PODCAST ON INVESTING AND FINANCIAL INDEPENDENCE
🎧 www.coachcarson.com/podcast/
----------------
GET MY FREE REAL ESTATE INVESTOR TOOLKIT
📋 www.coachcarson.com/toolkit-yt/
----------------
FOLLOW ME ON INSTAGRAM
📸 / coachcarson1
----------------
READ MY BOOK ON RETIRING EARLY
📚 www.coachcarson.com/retiremen...
----------------
👋👋 SAY HI ON SOCIAL
/ coachchadcarson
/ coachchadcarson
-----------------
▶️ MY UA-cam PLAYLISTS:
“GET STARTED in Real Estate Investing”:
• Playlist
“100 Year Old Triplex Remodel Vlog”:
• 100 Year Old TRIPLEX R...
“Ask Coach Your Questions Series”:
• Playlist
“Rental Property Analysis”:
• Rental Property ANALYSIS
“Creative Financing ToolBox”:
• Start investing now wi...
“NITTY GRITTY Real Estate Investing”:
• Analyze deals using GR...
“BE YOUR BEST (Productivity Hacks & Personal Growth)”
• Be your Best
“HACK Real Estate Debt”
• Playlist
Really love these interviews. Gives me so much encouragement to get started. Getting finances approved this week so I can start this month!
That's awesome Rob! Glad to hear you are taking the first step getting financing approved. Thanks for listening.
Awesome interview! Thanks to Kyle for sharing some of his philosophy, metrics and secret sauce.
I’m looking forward to visiting his website to see more of his metrics.
Great content on this one! Getting heavily involved in the real estate market in the near future and there was a Lotta good takeaways from this interview. Keep them coming!
Awesome!! Luv your podcast Coach🙏
Thank you!
Excellent interview!
Thanks for the nuggets
Thx for sharing!
Thanks for watching, Ronke!
I enjoy all of your videos, Chad, and I'm now going back and watching all of them..today I only had time for 3...too much other stuff going on:) This was a good one, too, and 10 seconds into hearing Kyle speak, I thought "He talks like someone from around here". I didn't realize we even had an accent, but apparently we do, because I was right - we are also from South Central Pa (York and Annville).
Is the $10k gross or net? I have 10 rentals and am getting close to collecting $9000 per month in rent. HOWEVER, what's left in my hand is much less. Not enough to quit my W2 job. (I do fund repairs and rehab out of the rent money.)
I have a question can anybody answer me what a three bedroom home rents out for in Paris Texas good in shape
Is it just me that sees a problem with the first example of his “opportunity”? What would really help the distressed inheritor would be listing to the open market, not being played. Did they understand s their options before signing that contract?
Great content and interesting story. Kyle mentioned he uses a "low credibility score" to target. Is that something anyone can get (where can I find it) or is it a proprietary method Kyle uses?
I'm don't remember that. Was it credit scores, perhaps? Even that would be hard. You can ask him directly on Twitter at twitter.com/RealLifeRentals
@@CoachChadCarson Thanks for the feedback. I'll hit him up on his twitter.
Curious if Kyle would rent the home to the original owner after purchasing a home.
I've done that for a short period of time in a couple of circumstances. It helped them to have time to find a house and move (or spend their last Christmas in the house, for example).
I wont finance any more houses bc of legislation. Look at your loan docs. Do they say they can call-in your loan at anytime for any reason? Its not in there for nothing!
if they call in your loan then just sell the property, homes are selling within days in the market right now.
🎁
💪
GM this is Brain Food 👍
Thanks!! 🙌
Great story but basically minimal usable information for rookie investors. Example: this guy is already at "5 star review" level on his website. To compare himself to "Joe Schmoe" looking for wholesale deals, as he did, is meaningless info for "Joe Schmoe"! What we "Joe Schmoes" need to know is the information in between "Schmoe" level and his level....all the tedious steps in between. All he did was tell us about going from mailing post cards to having 5 star ratings on his website. Congratulations to him, but that is NOT a true step by step info video for new(er) investors. As I said, great success story and I love these, but lacking usable info, imo. Love your videos, Coach, but this one fell short as defined in the title.