House flipping isn’t an easy game. There are so many factors at play with each purchase: what will the housing market look like in six months? Will contractors be available? What if the city holds you up on permits? It’s no surprise that many real estate investors simply don’t have the stomach to get into fix and flips. But someone like Tarl Yarber is ready to pick up the deals that others leave behind.
Tarl is a master home flipper, so this isn’t close to his first rodeo. But even the veterans make mistakes, and this time, Tarl and his team made a $35,000 mistake. That’s no chump change, especially when you’re working against the clock to get a flip finished as soon as possible. Even after months worth of delays, contractors being fully booked, and unforeseen foundation issues, Tarl and his team were able to close out on this deal with a $90,000 profit.
How does someone walk away with such a significant profit after so many things fall apart? Only Tarl knows, and thankfully, he’s giving you all his tips and tricks in this video.
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00:00 The Flip That Flopped 01:41 The Numbers 02:56 Interior Walkthrough 06:05 Keep it Simple! 07:38 Upstairs Walkthrough 09:29 Permits, Code, and Not "Shoulding Yourself" 12:55 Foundation Problems 16:41 Take Risks...but Make Good Guesses 17:51 Stick to Key Fundamentals 21:13 Find Your Next Deal!
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By: BiggerPockets Title: When House Flipping Goes WAY Over Budget (Before & After) Sourced From: www.youtube.com/watch?v=2DCh2-dN1Nw
