A lot of good lessons come from failing! In my 2nd year of flipping I bought a huge 5 bed 3 bath house with 3 levels. It needed a complete full remodel and located in not the worst area of town but on the edge of it. It was vacant for 2 years and wasn't winterized properly so first day of water getting turned on had water shooting out of the pipes on every level of the house. The remodel took 3 times longer than usual to complete. Had to get a new sewer pipe, furnace (takes alot of furnace to heat up a house like that), ac, windows, and a lot more. Most of the stuff I planned on but a lot where I couldn't have known since I bought it at a foreclosure auction and going inside before was prohibited. A big lesson was always get a 2nd estimate if your going with a new contractor. Had a reputable roofing company try to tell me it needed a new roof for about 7k. Got a second option the roof was fine it just need a $100 worth of work to fix the issue that we had with it (I was 25 at the time and was that absolutely was the reason this estimater tried to take advantage of me still being a rookie). I also paid someone to finishing the stucco job in the back. After a day of work and a quarter of the job done he convinced me that he needed to be paid for the full estimate for him to finnish. Never saw him again. Anyways I bought it for 52k ended up putting in 25k and sat on the market for 2 months. So I rented it for 3 years at 1k a month. Just sold it at the height of the housing boom this summer for 129k. Things might have worked out but I learned a lot on that one! So many head aches and a lot of time I had to personally put into it. But it had so many Good lessons that I needed to learn!
I can see the anger when you’re analyzing the picture lmao We’re always going to have losses but the important thing is that you’re killing it my brother! Keep up the good work!
Missing out on that 3rd bedroom is a big one. Its for reasons like this that I personally have a hard time giving up control. It's really hard to count on other people with hundreds of thousands of dollars or more.
Took a flipper course from a major HGTV star and asked the question___What if your flip just wont sell? What do you do? 1. Get a new loan with better carrying costs 2. Rent it out while you try to sell to recoup carrying costs. That guy was full of crap on so many things I’ve since learned and of rather low character. I appreciate that you share your journey of lessons learned. Refreshing. Great self reflection. It’s very tough to look at mistakes on a public platform.
I’ve been watching all your videos. I’ve downloaded your book and the contracts. Now I’m just in the process of looking for my first wholesale deal. Great content!
Hi Ryan. really appreciate your transparency on wins and loses in your journey to success in the past few years. I was wondering when you know you're taking a loss that big on the property, did you ever consider holding the property as a rental to wait until the price appreciated while potentially paying the hard money loans off with a home equity loan? Just a thought, I might be totally off with this question, but would like to know your thoughts.
He isn't interested in answering this question I guess because you are the 3rd person to ask it and he hasn't responded to any of them but responds to other comments made after.
One has to ask, as a man of faith, how does losing money make you feel? I thought I correctly gleaned your response from this video, but had me second guessing from another video you posted about buying a place for the African missionaries. I'm truly curious how it makes you feel when you lose money one day and make so much more another. You're obviously gifted in finance, so wondering whether it becomes a game (almost)? All the best. Ray
Hey Ryan, I've ben following you since you shared the video of your first flip. You talked about flipping a mobile home in the beginning. Can you make a video about flipping them, the good and bad just this video!
Hey Ryan, what's the best way to get connected with wholesalers? I'm trying to break into this real estate biz and man, I'm not having an easy go of it! Really tough to make my numbers work. Any tips/advice? Thanks!!
What stopped you from "purchasing" the property yourself and renting it until the market heated back up? At 75% of the value the refinance loan would have been 108k and you would be down about 30k that you could recoup in the future.
why didn't you just get the money from your past profits and paid him off I'm sure you got millions in the bank. you could have paid off the lender back in full all cash and avoided those holding cost fees
![How I Turned $10,500 into $210,000 at 19 (in 90 days) [Beginner Real Estate]](http://i.ytimg.com/vi/fnFWKmDGGUU/mqdefault.jpg)
A lot of good lessons come from failing! In my 2nd year of flipping I bought a huge 5 bed 3 bath house with 3 levels.
It needed a complete full remodel and located in not the worst area of town but on the edge of it. It was vacant for 2 years and wasn't winterized properly so first day of water getting turned on had water shooting out of the pipes on every level of the house. The remodel took 3 times longer than usual to complete. Had to get a new sewer pipe, furnace (takes alot of furnace to heat up a house like that), ac, windows, and a lot more.
Most of the stuff I planned on but a lot where I couldn't have known since I bought it at a foreclosure auction and going inside before was prohibited. A big lesson was always get a 2nd estimate if your going with a new contractor. Had a reputable roofing company try to tell me it needed a new roof for about 7k.
Got a second option the roof was fine it just need a $100 worth of work to fix the issue that we had with it (I was 25 at the time and was that absolutely was the reason this estimater tried to take advantage of me still being a rookie).
I also paid someone to finishing the stucco job in the back. After a day of work and a quarter of the job done he convinced me that he needed to be paid for the full estimate for him to finnish. Never saw him again.
Anyways I bought it for 52k ended up putting in 25k and sat on the market for 2 months. So I rented it for 3 years at 1k a month. Just sold it at the height of the housing boom this summer for 129k. Things might have worked out but I learned a lot on that one! So many head aches and a lot of time I had to personally put into it. But it had so many Good lessons that I needed to learn!
PLEASE MAKE MORE OF THESE VIDEOS!! it really helps beginners learn from your mistakes. Thanks for all information.
My favorite video. Thank you for sharing the losses and being transparent. Almost no one does that.
I built my brand on honesty and transparency and have no plans of eve changing that. Thank you for the support, it is much appreciated!
Love learning from real estate stories in the US. Thanks for sharing!
I'm glad you find value in these videos!
I can see the anger when you’re analyzing the picture lmao
We’re always going to have losses but the important thing is that you’re killing it my brother! Keep up the good work!
Thank you my man!
Missing out on that 3rd bedroom is a big one. Its for reasons like this that I personally have a hard time giving up control. It's really hard to count on other people with hundreds of thousands of dollars or more.
Haha, I guess it’s part of life!
Took a flipper course from a major HGTV star and asked the question___What if your flip just wont sell? What do you do? 1. Get a new loan with better carrying costs 2. Rent it out while you try to sell to recoup carrying costs. That guy was full of crap on so many things I’ve since learned and of rather low character. I appreciate that you share your journey of lessons learned. Refreshing. Great self reflection. It’s very tough to look at mistakes on a public platform.
What an extraordinary young man. Love your ethics and approach. Keep succeeding!
Ouch! Thanks for sharing a failure! Look forward to learning more from you. I deff didn’t know that about mobile home conversions.
Integrity is everything and so is humility. Love this vid and kudos to you for sharing. Thank you!
I think this transparency is awesome. I appreciate the openness and honesty. Learning a ton. Thanks!
I appreciate that! Thank you for the support!
Thank you for being transparent! New to mobile home investing and I’m going to watch this video anytime a deal goes wrong lol
Hopefully you don’t have to watch THIS video too often lol
Ryan i’m so happy your channel is finally breaking through bro! Congrats! Best of luck
I appreciate it!
Immensely enjoyed that one, took notes and learned a thing or two. Appreciate it
Thanks for sharing! And keeping your channel real! Learning so much from you!
Thank you for your transparency on this issue. Helps me be in reality about real estate investing. Love your channel.
Awesome video. As they say, you learn a lot more from the failures than successes. Glad you shared this experience.
Thank you for the honesty. That is why I am subscribed to your channel.
There is always risk, going out in the street is also a risk. Good thing you acknowledge it and learn. Thanks for the share!
The best Real Estate youtuber ever! Thanks for sharing this with us!
Thanks for sharing your lessons learned. Very informative.
Surprised, your channel not at like 300-500k yet , started watching this show when it was at like 10k , Ryan always give great content & entertaining
I’ve been watching all your videos. I’ve downloaded your book and the contracts. Now I’m just in the process of looking for my first wholesale deal. Great content!
That’s amazing! Consistency is key
WOW! thank you for sharing!!!
Hi Ryan. really appreciate your transparency on wins and loses in your journey to success in the past few years. I was wondering when you know you're taking a loss that big on the property, did you ever consider holding the property as a rental to wait until the price appreciated while potentially paying the hard money loans off with a home equity loan? Just a thought, I might be totally off with this question, but would like to know your thoughts.
He isn't interested in answering this question I guess because you are the 3rd person to ask it and he hasn't responded to any of them but responds to other comments made after.
Ryan - Your vids are good. Like your reality and content!
thank you hard times are the best school!!!
Cape Cod rocks (except for the tourists and only two bridges to get on and off).
Good to see your subscriber count jumping up, you're killing it with these videos.
Means a lot, thank you!
Wow that is a big loss on mobile home. Lesson learned for me here ;)
Learn from my mistakes!
SO glad this deal is over with. :(
ya....
I learned so much from this one video! Thanks
That hair is goals man.
Really appreciate the honesty
I’m glad, thank you for viewing!
This video should have a whole lot more views than it does right now.
One has to ask, as a man of faith, how does losing money make you feel? I thought I correctly gleaned your response from this video, but had me second guessing from another video you posted about buying a place for the African missionaries. I'm truly curious how it makes you feel when you lose money one day and make so much more another. You're obviously gifted in finance, so wondering whether it becomes a game (almost)? All the best. Ray
Hey Ryan, I've ben following you since you shared the video of your first flip. You talked about flipping a mobile home in the beginning. Can you make a video about flipping them, the good and bad just this video!
I just listened to your book. Great stuff! I'm curious though. Is the deal calculator shown in the video something we can duplicate?
Thanks. Sure you can duplicate it.
When I go over budget on a flip I just turn it into a rental and make money over the long term instead of right away. Good way to avoid loss.
get RID of boob lights, they cheapen any place and so many nicer light fixtures to use
Hi Ryan. How much was it to have the home converted?
This is definitely gold Ryan
It would be great to get that excel sheep calculator
Lovin' the content!🔥🔥🔥
Best RUclipsr on RE !
Did the lender profit because of the interest paid while the property was listed over the ~2 years?
Hey Ryan, what's the best way to get connected with wholesalers? I'm trying to break into this real estate biz and man, I'm not having an easy go of it! Really tough to make my numbers work. Any tips/advice? Thanks!!
What stopped you from "purchasing" the property yourself and renting it until the market heated back up? At 75% of the value the refinance loan would have been 108k and you would be down about 30k that you could recoup in the future.
Great video, Ryan!
Thank you!
were you guys renting it during holding?
Like your honesty great video
Thank you! Much appreciated!
Appreciate the video
Appreciate the view!
Comment ... Algorithm ,work your magic ! Great stuff Boss!
That’s what I like to see! Thank you!
The audio on your videos is really low. Just thought to give you a heads up. Thanks for sharing all of this! Super great
I’m here baby! 👊😎👊
Thank you!
How do I become an Investment partner?
A good rule of thumb is to not touch mobile homes.
You boutta be the next biggest thing in youtube finance
Thanks for the support!
Any lessons you learned about potentially foreseeing a cooling market similar to end of 2018 or does it not matter in your calculations?
Yes we are much more cautious this time around.
losses teach great lessons!
Absolutely!
why didn't you just get the money from your past profits and paid him off I'm sure you got millions in the bank. you could have paid off the lender back in full all cash and avoided those holding cost fees
Losses make the wins much much sweeter but let’s not lose too much lol
Hopefully not!
Algorithm
You have not flipped hundreds of homes. Be more realistic. Unless you're a hedge fund.
Your clipped the shit out of this video. Wish I can watch the real you without all these edits..