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| Name | Top 5 House Flipping Mistakes - I've Lost Thousands From Them... |
| Video Uploader | Video From Ryan Pineda |
| Upload Date | This Video Uploaded At 03-10-2020 16:15:01 |
| Video Discription | After flipping hundreds of houses thus far in my career, today I’m going to share the top five mistakes people make when flipping houses. ______________________________________________________ Do you want to be coached personally by me? Apply here. https://futureflipper.com/all-star-coaching/ To sign up for my CRM go here: https://futureflipper.com/future-flipper-crm/ Download my book and real estate contracts for FREE. https://futureflipper.com/ If you’re just starting out and you want to market directly to sellers, I highly recommend using BatchLeads. We currently use them in our business to pull lists, stack lists, get phone numbers, text, and find property values. It is an amazing service that will help you get deals on any budget! Promo Code: HOMERUN for half off your first month. https://bit.ly/2E3LbtY Or you can get 500 texts and a 14 day free trial for $1. https://batchleads.io/homerun/ Need Tax and Accounting help? Contact my CPA Firm! https://TrueBooksCPA.com/ Are you a Realtor in Las Vegas, NV? Join my Brokerage! https://ForeverHomeLV.com/ Follow me on Social Media: https://www.instagram.com/ryanpinedashow https://www.facebook.com/ryanpinedashow https://www.tiktok.com/@ryanpinedashow https://www.linkedin.com/in/ryanpinedashow ______________________________________________________ The first mistake people make when flipping houses is underestimating their timeline. A lot of people get into a deal and are very optimistic. Often times, people will calculate their numbers and put it on a three month flip, but flips will take longer than three months. Full renovation flips typically never sell in three months. For us, they take around five months on average. The second biggest mistake is underestimating the rehab costs. You should always get a true rehab cost and the way to do that is by going out and hiring someone else. You will never be able to scale your flipping business if you’re the only one doing the work. The third mistake is overdoing the rehab. Flipping houses is a business. You are not building your dream home every time you flip a house. Anytime you’re renovating you need to remember that if you spend $1 on renovating, it should yield $2 in profit. The fourth mistake is speculating on the ARV. You want to use what’s already sold. Don’t speculate on things you can’t control. Copy the comps, if the comp is at a certain price and done at a specific level of rehab, that’s what should be done. The fifth mistake is not factoring in money costs. Money costs are whatever it costs you to get the loan for that property. When starting out, many people don’t realize how expensive money can be. Before making offers on flips, make sure you understand what money cost is. If you make any of these mistakes, it costs you hundreds to thousands of dollars. Try not to let your emotions get to you and pay attention to the data to determine if it’s a good deal or not. |
| Category | Entertainment |
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