Why Most House Flippers Fail (5 Common Mistakes)

I’ve been in the house flipping business for years now and tell you all the mistakes to avoid…

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Many flippers fail because they don’t know how to run their comps and renovation prices correctly. It takes a lot of time to determine the accurate way to price comps, as well as many small details that people don’t consider. I think the best way to practice this is through religion. Practice, practice, practice! In order to learn accurate renovation costs, it would be beneficial to price out every cost of the renovation with your contractor.

Another mistake I’ve seen is that investors don’t make enough offers. Many of the offers made will be rejected, so the more offers investors make, the more offers will be accepted. Volume is key!

Experienced investors make mistakes too! Many times investors don’t manage their cashflow properly, so they actually go broke! I’ve done this before and I had to figure out how to get out of the situation by getting more money.

Some investors want to be broad in investing instead of deep in a niche. This makes their investing more complicated and open them up to more risk.

The final mistake I discuss is how investors don’t invest in themselves with coaching and mentorship. Learning from higher level investors put me on the fast track to grow my companies and knowledge.

How to invest in real estate, how to avoid mistakes in real estate investing, real estate coaching, real estate investing for beginners, mistakes to avoid in real estate

[jasn]

Not knowing or underestimating the amount of Closing costs, Realtor fees, and Holding costs is another mistake I notice from newbie flippers.

[LukeniV]

Honestly a lot of people do not have access to fund real estate deals. Lenders are out there people keep looking!

[Sebastianx]

How do you make offers on so many houses If proof of funds are required ?

[FlipwithThomas]

I have a question. When you offer with hard money, do you offer as cash or something entirely different like 100% financing and check the “other” box on a contract ? Thanks Ryan!

[arlenet]

Hi Ryan! You are such a wealth of knowledge! Love watching your videos…I need to binge watch due to my new work schedule. You are so honest and the thing I like about you is that you detailed your own private journey to wealth. Just going along for the ride to see where life takes you as I decide what to invest in now…thinking about Las Vegas now. I’m CA native and will retire soon hopefully. Keep up the awesome job you do and say hi to the whole fam! Stay healthy!

[Chris-kebn]

I sure we can all agree that we love the wholesale and flipping videos you post 😀