BiggerPockets Real Estate Podcast
Business:Investing
Real estate investing can make you rich or ruin you financially…if you’re not taking the proper precautions. Today, you’ll see just how easy it is to lose money on a bad real estate deal and how even the top investors, those with decades of experience, still can end up in a rough situation through no fault of their own. And while both the investors featured in this two-part series have made millions in real estate, they’ve also had a couple of deals gone wrong that have cost them hundreds of thousands.
In this episode, we’re talking to Mindy Jensen, host of the BiggerPockets Money podcast, about, as she calls it, “the house that almost broke me.” This property alone lost Mindy over a quarter of a million dollars, as she had to deal with crooked contractors, a once-in-a-lifetime flood, theft, and more. If you want to ensure you NEVER repeat the same mistakes as Mindy, listen to this ENTIRE episode before buying your next house.
And next time, we’ll be on with James Dainard, expert flipper and co-host of On the Market, to talk about his house flip that makes Mindy’s look like a walk in the park!
In This Episode We Cover:
How Mindy lost over $300,000 on ONE real estate investment
The one “waiver” you MUST get signed before you hire a contractor
DIY vs. hiring it out on home renovations and why Mindy does almost all her own work
The “five-hundred-year flood” and the WRONG time to replace a roof
Why you must have emergency reserves before you invest in ANY property
And So Much More!
Links from the Show
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Weather Underground
How to Make a 120% Return by Buying “Negative” Cash Flow Real Estate
Connect with Mindy:
Mindy's BiggerPockets Profile
BiggerPockets Money Podcast
Mindy's Twitter Profile
Click here to listen to the full episode: https://www.biggerpockets.com/blog/real-estate-857
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860: How I Made $50K in 6 Weeks in an “Extremely Competitive” Market
859: BiggerNews: Fed Announces Rate Cuts, Jobs Grow, and Boomers Buy Up Housing
858: Real Estate Gone Wrong: The House Flip That Fell Over (-$380K) w/James Dainard
856: College Dropout to $110K/Year in Cash Flow by Buying “Sheriff Sale” Properties w/Hunter Lawler
855: Seeing Greene: Student Housing, Lease Options, and How to Buy with High DTI
854: The State of Real Estate Investing: What You Need to Know for 2024
853: How to Make a 120% Return by Buying “Negative” Cash Flow Real Estate
The Simple, Repeatable Path to Wealth with Real Estate in 2024 w/Scott Trench
852: Seeing Greene: Subto “Speculation,” Airbnb Automation, & New Build Financing
851: Turning $15K into $4K/Month by Investing in This Overlooked Asset Class w/Jason Velie
850: Multifamily Experts: Look Out For These 7 “Red Flags” BEFORE You Invest
849: Seeing Greene: How to Use Home Equity to Retire Early and HOA Headaches
848: From Bussing Tables as a New Immigrant to Making $5K/Month from Rentals w/Keleisha Carter
847: How to Fund Real Estate Deals Right Now w/Zach Lemaster
Pillars of Wealth by David Greene (Chapter 1)
846: What You Need to Do NOW to Pay Fewer Taxes in 2024
845: The Slow, Steady Way to Make $50K Per MONTH with Rental Properties w/KC Massie
844: The 3 "Lies" You Can't Afford to Tell Yourself in This Housing Market w/Jim Kwik
843: Seeing Greene: I Don’t Make Enough to Invest, What Do I Do?
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