BiggerPockets Real Estate Podcast
Business:Investing
One real estate investing mistake cost house flipper James Dainard $380,000. This mistake was so bad that, in the long run, it may have cost him up to three-quarters of a million dollars. So what was the grave mistake a multi-decade veteran house flipper made that would bankrupt the average real estate investor? Stick around to find out unless you want your house to literally start falling off a cliff (like James’ did).
James has been doing real estate deals in Seattle for two decades. He’s flipped hundreds of houses, but even the experts get it wrong sometimes. Piggybacking from our last episode, James will walk through one of the worst house flips he’s EVER done, the mistakes he could have easily avoided, and why you never, EVER close on a flip until you have permits in place.
Want to hear last week’s episode about the live in flip that cost a new mom over $300,000? Click here to listen to the episode!
In This Episode We Cover:
The biggest mistake house flippers can make when investing in 2024 and beyond
What to do when your house flip suddenly stops making financial sense
Foundation issues and how to correct a house that’s literally starting to slide
Forecasting permit times and how not doing so can cost you over $100,000
Why you always, ALWAYS need to have emergency reserves on hand when doing a home renovation or house flip
And So Much More!
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How to Make a 120% Return by Buying “Negative” Cash Flow Real Estate
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Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-858
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679: Medium-Term Rentals: How to Get BIG Cash Flow Out of Small Properties w/Sarah Weaver and Zeona McIntyre
678: Is the Buyer’s Market Back? How to Find Deals and Steals on the MLS w/Jamil Damji
677: How to Build an Income-Replacing, All Off-Market Rental Property Portfolio w/Taylor Wing
676: Rob's Real Talk: What Running Short-Term Rentals at Scale REALLY Looks Like
675: Seeing Greene: When Does It Make Sense to Refi with High Interest Rates?
674: Investor Update: The "10 Deals on $20K/Year" Investor's Explosive Growth w/Ashley Hamilton
673: Beyond Cash on Cash: How Thinking Like an Investor Unlocks More Deals w/Dave Meyer & J Scott
672: Seeing Greene: Interest Rates, Flipping Tips, and Investor-Only Loans
671: Will the “Silver Tsunami” Flood You with Cash Flow? w/Isabelle Guarino-Smith
670: BiggerNews October: Should You Sell Before the Fed “Creates” a Crash?
669: Seeing Greene: Is BRRRR Investing About to Get Even Better?
668: 10 Units in 3 Years and Giving Back While Getting Ahead w/Zasha Smith
667: How to Get Any Seller to Accept Your Offer in 24 Hours (or Less!) w/Jonathan Greene
666: Seeing Greene: The 10-Second Formula to Solve the "Sell vs. Rent" Situation
665: Building a 150-Unit “Lease Arbitrage” Empire and the STR Furnishing Playbook w/Jeff Iloulian
664: Why Your “Pitch Deck” Won’t Work (and What to Do Instead) w/Pitch Anything’s Oren Klaff (Part 2)
663: How to “Raise the Stakes” So Anyone Accepts Your Deal w/Pitch Anything’s Oren Klaff (Part 1)
662: ROE > ROI and Why Your “Cash Flow” Number is Deceiving w/Chris Lopez
661: How to “Start from Zero” in Today’s Multifamily Market w/Andrew Cushman and Matt Faircloth
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