I Just Lost $25,000: What I Learned from My Worst Real Estate Deal (Ever)
Description
Ashley just did her worst real estate deal. Ever.
We always talk about the good real estate deals, but what about the bad deals? The rental properties with the nightmare rehabs or the messy evictions? The truth is that the lessons learned from these blunders often propel us toward bigger and better deals.
Welcome back to the Real Estate Rookie podcast! Today, we’re going over one of Ashley’s recent deals, where she lost over $25,000. But it could have been even worse. As you’re about to hear, she bit off a little more than she could chew, tackling a new investing strategy with a much more difficult renovation than she signed up for.
Ashley shares what went wrong while analyzing the property, the huge mistake she made during the due diligence phase, and how a little indecision snowballed into thousands in holding costs. But most importantly, you’ll learn what Ashley’s taking away from this painful experience so that her next deal is much better for it!
In This Episode We Cover
Breaking down Ashley’s worst real estate deal ever (and a $25,000 loss!)
The critical mistake Ashley made during the due diligence phase
Why time is of the essence when taking on a large rehab project
Why you should always “test” new strategies, markets, and partnerships
The real estate tax benefits that can help offset a “bad” deal on paper
And So Much More!
Check out more resources from this show on BiggerPockets.com and https://www.biggerpockets.com/blog/rookie-675
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