3 House Flipping Mistakes EVERY Real Estate Investor Should Avoid

simple solution for #1, flip 2 or 3 and keep the 4th, rinse and repeat

The before-and-after shots never cease to amaze me. This is so inspiring.

The fact that a pos property like that is 3/4 m because it is in Seattle is one of the most ridiculous things about it all. 😂

Tarl. Is there a way to connect with you? I live in SW Washington

I also flip homes, but just one at a time, normally averaging 2 months to 5 months in duration. Your advice about firing a project manager quickly, when that manager is costly and counter productive, hit home. Also, not letting subjectivity take precedence over objectivity. Both of these examples can have devastating consequences.

Thank you for sharing your experience and valuable tips with us! Much appreciated.

A real estate investor does not invest for capital gains he invests for cashflow.

Thank you for the knowledge!👍🏻😁✌🏻

Hanging onto a property only makes sense if it will cash flow.

Nicee, good job!

Great video

Thank you so much, very helpful and interesting points, especially accepting the mistakes and learning from them.

My brother and i are considering trying to do a flip for the first time. We'd consider holding it, even living in it. Neither of us have any experience with flipping. Do you recommend we try to partner up with someone with more experience? Should we join a flipper network group to meet others, network and get referrals to good contractors? Anything else you'd recommend to us newbies? Also we're in Portland, Oregon. Any areas around here that you think are best to buy? We'll probably have to start off fairly small -like under $500k all in.

Why do you use private lenders and hard money instead of buying properties on your own? I’m assuming volume is the answer but just wondering if there’s another benefit I’m missing. Also, if you could go back in time at what point would you stop flipping and start with the brrrr method?

That’s funny because as soon as I actually knew what I was doing, the exact moment that I “woke” in my RE knowledge, I was hit with the rather sobering understanding that every property I’ve ever sold for its market appreciation value would’ve outperformed those returns as a long term investment. Basically it boiled down to a choice: either sell it and make $100K+, or keep it and make that same amount every 5 or 6 years plus its rental income and capital value. Like you, I have actually lived to regret every piece of property that I ever sold.

great video. Thanks a lot man

Rich people sell, wealthy people don't

Very helpful and important lessons to remember. Thanks for trying to help people learn from your paradoxically bad-to-good experiences!

Tarl. Thank you for your expertise.

Hi Tarl, What order would you recommend for updates on a partially occupied 4-plex? The goal would be to give the entire place, inside and out, a face lift remodel. But what would be best to do first?

Love the "extreme ownership" tie-in at the end.

Great video, very candid, really appreciate the transparency and knowledge sharing!

We’re you going through something in your personal life to cause you to make those rash decisions?

For some reason I have never heard "hire slowly and fire quickly," but that is a good one. I think just not wanting to deal with a problem is a very common mistake. Great video!

Thanks so much for your transparency, I think many of us make the same mistakes - it's very easy to get emotionally involved in a project for whatever reason.

The intro song is WAY too long.

🙏🏼

Great advice specially the long term thinking.

Proof that real estate is definitely local. That $784k identically renovated crackerbox house would be about $150-200k today in a mid-tier southeastern US city, and it probably would have sold for around $50-60k back in 2014.

👍

Great video! If you reinvested that profit from 2015 and bought another 2-3 homes, in reality you made way more than just by selling it for $800k in 2022, correct?

Love when he’s on he’s funny lol

One of my favorites in bigger pockets.

Great segment! As a 4 year old investor we have hit all three! We flipped 5 properties and kept 2 single families ( destination rentals ) using management company and building 8 unit apartment. Projection for next 6 months: 4 more properties to use as destination rentals. Watch this channel daily! Thanks for all the good content !

Whenever you start buying in Milwaukee, send me a DM and I'll help you out!

This hits me on so many levels! Especially the hire fast fire slow part. Guilty as charged!

using your Seattle example and as a fellow flipper, we all wish we still owned all the properties we have sold in the past…when we start out we usually need all our cash back with profit and we have to pay back any loans if any

i also wish i bought and held apple stock since i was a baby but that’s how investing goes