4.8 • 2.1K Ratings
🗓️ 8 February 2025
⏱️ 15 minutes
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0:00.0 | Let's talk about real estate. |
0:01.4 | You know, my company home runoffer, you know, has been around officially since 2017. |
0:07.7 | I started flipping in 2015. |
0:09.3 | So, I mean, we're going on a decade in this business. |
0:12.2 | And over time, I have learned many different things. |
0:16.9 | You know, I've made lots of money flipping houses over the years. |
0:20.0 | So we flipped six, 700 houses at this point. |
0:22.9 | I've done millions and millions of dollars, but I've also lost millions on bad deals. |
0:29.3 | And as I have kind of gone about it over the last few years, in some ways I have overcorrected. |
0:37.3 | In other ways, I was reckless. And so what I'm about |
0:40.9 | to share with you are goals now that I think are more important to me as I've gotten older and as I've |
0:46.8 | taken a lot of wins, but also a lot of losses and how I plan to kind of like find that happy |
0:53.2 | balance of risk versus reward. So, |
0:55.2 | um, first thing is to give some, uh, hindsight, you know, from 2018 to 2022, I was predominantly |
1:04.2 | all flip, meaning I was actually buying the properties, fixing them up, um, taking on lots of debt, all the risk. |
1:13.3 | You know, my investors didn't take any risk. |
1:14.9 | I personally guaranteed everything. |
1:17.0 | And look, I mean, it made me a lot of money from 18, 19, 2020, 2021, and the beginning of |
1:22.9 | 2022. |
1:23.6 | But when interest rates doubled midway through 22, I got left holding the bag. I mean, I paid back all my investors. It was super painful to do. I mean, I'm thankful I had the money and all that different stuff, but they didn't lose anything from it. I personally lost millions selling off all of our deals, paying back all of the interest due to our investors, paying back |
1:45.0 | all their principal. It was a huge learning experience for me. And, you know, going into 2023 and |
1:51.5 | 24, I said, you know what? I never want to have that many flips again. I mean, at that point in |
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