Episode #857
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!
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Hear Mindy on the “BiggerPockets Money” Podcast:
https://link.chtbl.com/Money
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Hear James on the “On the Market” Podcast:
https://link.chtbl.com/OTM
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How to Make a 120% Return by Buying “Negative” Cash Flow Real Estate:
https://www.biggerpockets.com/blog/real-estate-853?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Mindy:
BiggerPockets: https://www.biggerpockets.com/users/mindyjensen?utm_source=youtube&utm_medium=description&utm_campaign=none
X/Twitter: @MindyatBP or https://twitter.com/mindyatbp
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Connect with James:
BiggerPockets: https://www.biggerpockets.com/users/jdainflips?utm_source=youtube&utm_medium=description&utm_campaign=none
Instagram: @jdainflips or https://www.instagram.com/jdainflips/
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Connect with David and Rob on BiggerPockets:
David: https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&utm_medium=description&utm_campaign=none
Rob: https://www.biggerpockets.com/users/robuilt?utm_source=youtube&utm_medium=description&utm_campaign=none
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Connect with Rob (Robuilt):
Instagram: https://www.instagram.com/robuilt/
TikTok: https://www.tiktok.com/@robuilto
X/Twitter: https://www.twitter.com/robuiltchannel
YouTube: https://www.youtube.com/c/Robuilt
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Follow David and BiggerPockets on Instagram:
@davidgreene24 or https://www.instagram.com/davidgreene24/
@biggerpockets or https://www.instagram.com/biggerpockets/
Show notes at: https://link.chtbl.com/BPRE
00:00 Intro
00:49 I Lost $350K!
02:11 The House That Almost “Broke” Me
05:22 The 500-Year Flood
10:13Lessons Learned
14:54 The Bright Side of a Bad Deal
