I work with investors across the country, apply here:
https://go.valueaddinvestinggroup.com/jvjdt0h3
You don’t have the leverage you had six months ago. Inspect every deal, scope the sewer, rehab to be the best comp on the market, and buy deep enough that a surprise doesn’t wipe out your margin. I know all of this, and I skipped it anyway. Don’t make the same mistake.
The deal: about $30K into a light rehab (paint, flooring, fixtures, and new roof). ARV around $245K. We listed at $215K, sat two weeks with almost no showings, and then went under contract at $220K, with us paying about $10K in closing costs. After inspection: a shot sewer line, a roof that wasn’t done right, a broken garage door, and three pages of repair requests. We ended up doing about $7K in repairs to keep the deal together.
CHAPTERS
0:00 Closing a flip that didn’t go our way
0:49 Why I’m warning you heading into Q4
0:58 Days on market: 7-10 days to almost no showings
1:37 Buying outside my buy box
1:56 Where I messed up: no inspections
2:10 The light rehab and listing at $215K
3:04 Under contract, then the inspection
3:34 What I’m actually making on this deal
4:35 How I lost my leverage
5:58 New rule: pre-1970 homes
6:34 Why prices haven’t dropped yet
7:35 The 3% rate lock and who’s really buying
7:57 Should beginners flip right now?
9:24 What I’m doing instead
11:13 Why buyers are walking from investor flips
11:34 What to check in your market before you buy
12:23 Why I keep my loan-to-value around 65%
13:17 Days on market are climbing
14:21 Don’t panic-cut your price
15:13 My buy box right now
16:17 Advice for new investors
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