House flipping mistakes. Even if you’re not a house flipper, you’ve probably made them. Real estate investors alike can all come together to let out a collective groan when we talk about project management hiccups, renovations going over budget, or keeping a bad team member on for far too long. In the best case, you can walk away from these bad situations unscathed, but in the worst cases, you’ll be out tens of thousands of dollars (if not more).
Even the best investors can make some of these so-called “rookie mistakes.” And here to put himself on blast is expert flipper, BRRRRer, and buy-and-hold convert, Tarl Yarber. When Tarl’s head hits the pillow at night, the only thing haunting his dreams are these three house-flipping mistakes he’s made. These combined mistakes have cost him hundreds of thousands, and countless hours on top of that.
Even if you haven’t bought your first rental property, done your first flip, or wholesaled your first house, these mistakes should be avoided at all costs. Take it from Tarl, no matter how well you know your stuff, there are always errors to be made if you put your ego in the driver's seat.
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00:00 3 Biggest Investing Mistakes 01:42 1. Short-Term Thinking 02:55 Giving Up on $800K 07:22 2. Emotional Decision Making 08:34 n Ego-Fueled $86K Loss 13:45 3. Hiring Fast and Firing Slow 16:17 The Screaming Match Project Manager 19:48 Who's to Blame?
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By: BiggerPockets Title: 3 House Flipping Mistakes EVERY Real Estate Investor Should Avoid Sourced From: www.youtube.com/watch?v=isPlKXT8-DM
