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
Connect with James:
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Hear James on the “On the Market” Podcast
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-858
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451: Stop Chasing the “False Summit”: Have Better Relationships and Results with Michael Hyatt
450: How Your First Time Home Buying Decision Affects Long-Term Wealth with Scott and Mindy
449: How Emails Are Constantly Destroying Your Productivity with Cal Newport
448: The Lazy Person’s Guide to Financial Freedom in Less Than 10 Years with Dion Mcneeley
447: Create Your Dream Life in 3-5 Years Using Vivid Visions with Cameron Herold
446: Pivoting the Goal and Swapping Doors for Cashflow with Kyle and Lauren Clugston
445: When to Quit Your Job and Pursue Your Dreams with Rapper Manafest
444: 150 Deals at Age 22 by Putting Relationships Over Profit with Cole Ruud-Johnson
443: 10 Ways to Learn Anything Faster with Jim Kwik
442: Taking "Bite-Sized Steps" to Go from Broke to $20,000/Month with Bryce Stewart
441: House Hacking as an NFL Player? How Former Tight End Hakeem Valles Grew His Real Estate Portfolio
440: How a 25 Year Old Bought $1M of Real Estate in 1 Year with Daniel Iles
439: How Are You Marketing Yourself? with BiggerPockets Producer Kevin Leahy
438: The Ultimate Beginner’s Guide to Finding GREAT Deals in ANY Market with Anson Young
437: How Your “Worst Case Scenario” Can Set You Free From a Job You Hate with Marie Forleo
436: Going into Multifamily When You’re Fairly New to Real Estate with Jamie Gruber
435: Why Successful People HATE Losing, But Aren’t Afraid to Lose with Scott McGillivray (Part 2)
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