I really appreciate the gentleman that said he hated real estate. Sounds like a good man who understands the money side as well as the human side, which is rare in flipping/real estate.
Yea i wasn’t expecting that and it was nice to see some real stuff behind the house flipping game. I feel doubts a lot with my investing, so it’s nice to know I’m not the only one lol
I've been slow flipping for 21 years. I enjoy that it's been almost stress free. It has funded my retirement since I was 45. First San Jose CA and now in Phoenix. I agree the market more than anything defines direction. I got caught with 2 houses during the 2008 crash so I became a landlord on one. That was OK because there were lots of people with good jobs, had been in a nice house but couldn't make the mortgage, but could afford renting a good house. I bought as values were falling which was scary. I had no clue values would go down so much or stay down for so long. During the crash I used one year to just buy building materials from failed flips mostly. The REO agents or whoever a bank hired to secure a property would just want all the piles of building materials to be gone. To them it was $1000 to send it to the landfill, for me it was $10k worth of materals. Filled my dump properties with materials. If it was 90% off retail or better and high quality I bought it. For example one guy had 166 sheets of 7/16 OSB in prefect condition I paid $2/sheet. Properly stored outside (easy in Phoenix with almost no rain). Then I had OSB for any project. Then one day I hear on TH-cam that lumber prices were way up, checked what was going on and OSB was hard to find and was very high. So I posted a CraigsList ad for 130 sheets of my OSB for $50/sheet. Sold all the next day to a company making portable offices for construction and couldn't get OSB at any price and needed for completing orders. I had been thinking of adding a 2 car garage to a property but $6k profit selling the OSB was more profit than I would have made adding a garage. You do whatever the market tells you. Because I live in a house while fixing it up I get to know neighbors. 1st thing I do is the front yard landscaping. That makes neighbors happy and I can put in small trees and plants that are much cheaper than older material. I add way more trees than needed so they fill in fast, 5 years looks like a mature landscape. I also water a lot which helps trees grow fast here in Phoenix. I offer to do small repairs for people in the neighborhood.who are in dump houses. That get me into good deals because they talk to me at the stage of starting to think about selling. I can afford to pay a good price because I'm going to be holding for years. Always cash so I have no stress about the credit market. It's been fun. Fixing up my last house now, biggest project so far. I'm 66, very healthy, but I can read a clock. Time to get ready for old age. So I'll be moving to SE Asia, find a great young Filipina and do many of the other things I love. I may build a house there for fun...maybe some small rentals my Filipina can manage for her income after I've passed. Been a blast.
Hey guys, I'm a foreigner, and I was browsing the internet researching real estate investments, specifically in flipping. I came across this video of yours, and it was wonderful to see that guy saying he hates the real estate market and is only in it for the money. Tremendous honesty! Loved it. lololololol
Great insights - Agree that there was too much saturation with too many investors chasing very few deals for a long period of time between 2019 - 2021. There were definitely some golden nuggets here: "flip stacking" where you bring all your contractors from several projects into one and getting it done as quickly as possible; when you're flipping properties at volume, you need to manage cashflow and ensure to allocate capital appropriately (i.e. towards profit, funding next deal, living expenses, etc), many investors got too addicted to turning houses quicker than normal (between 2018 - 2021) that when the music started to slow down (late-2022), they were caught with too much exposed capital on several projects that weren't moving and hence why many investors are out of the business now. Lastly, the point that James made about creating the right team and then developing a buy-box was underrated.
Super enjoyed this video, and the insight from people in the trenches everyday. If you ever need a flipping guest I would love the opportunity. I flip in the suburbs of Chicago.
As a buy and hold imvestor I really enjoy to sharre the pain involved with managing contractors. I've always had to hire separate contractors for specifoc type of work. One occassion a general contractor worked but hard to fimd good legit ones.
Because some people is max up, liquidity is king, expensive debt in special hard money with a changing economy and banks tithing money if you don't have bigger pockets, and cushion be careful
Taryl seems so happy making videos , but I think , he hates dealing with dumb people and issues related to real estate , but I totally get why he hates the business
Quit for now, will come out in hoards once rates go down or there’s enough discount if prices go down. Only way to stop these leaches is through regulations but CON-gress will not do that
The guy who flipped to make $20k instead of $200 cash flow doesn’t seem to be very smart. Because you traded $20k for the future growth and appreciation.
I hate house flipping! They're homes! Not burgers! Flippers are gutting out the souls of old homes. They look mid-century on the outside, but on the inside they've been gutted of ALL there uniqueness. It's disgusting.
I really appreciate the gentleman that said he hated real estate. Sounds like a good man who understands the money side as well as the human side, which is rare in flipping/real estate.
Yea i wasn’t expecting that and it was nice to see some real stuff behind the house flipping game. I feel doubts a lot with my investing, so it’s nice to know I’m not the only one lol
We totally agree! Love the honest analysis of this investor! Being flippers and investors, we agree with him!💯
I've been slow flipping for 21 years. I enjoy that it's been almost stress free. It has funded my retirement since I was 45. First San Jose CA and now in Phoenix. I agree the market more than anything defines direction. I got caught with 2 houses during the 2008 crash so I became a landlord on one. That was OK because there were lots of people with good jobs, had been in a nice house but couldn't make the mortgage, but could afford renting a good house. I bought as values were falling which was scary. I had no clue values would go down so much or stay down for so long.
During the crash I used one year to just buy building materials from failed flips mostly. The REO agents or whoever a bank hired to secure a property would just want all the piles of building materials to be gone. To them it was $1000 to send it to the landfill, for me it was $10k worth of materals. Filled my dump properties with materials. If it was 90% off retail or better and high quality I bought it. For example one guy had 166 sheets of 7/16 OSB in prefect condition I paid $2/sheet. Properly stored outside (easy in Phoenix with almost no rain). Then I had OSB for any project. Then one day I hear on TH-cam that lumber prices were way up, checked what was going on and OSB was hard to find and was very high. So I posted a CraigsList ad for 130 sheets of my OSB for $50/sheet. Sold all the next day to a company making portable offices for construction and couldn't get OSB at any price and needed for completing orders. I had been thinking of adding a 2 car garage to a property but $6k profit selling the OSB was more profit than I would have made adding a garage. You do whatever the market tells you.
Because I live in a house while fixing it up I get to know neighbors. 1st thing I do is the front yard landscaping. That makes neighbors happy and I can put in small trees and plants that are much cheaper than older material. I add way more trees than needed so they fill in fast, 5 years looks like a mature landscape. I also water a lot which helps trees grow fast here in Phoenix. I offer to do small repairs for people in the neighborhood.who are in dump houses. That get me into good deals because they talk to me at the stage of starting to think about selling. I can afford to pay a good price because I'm going to be holding for years. Always cash so I have no stress about the credit market.
It's been fun. Fixing up my last house now, biggest project so far. I'm 66, very healthy, but I can read a clock. Time to get ready for old age. So I'll be moving to SE Asia, find a great young Filipina and do many of the other things I love. I may build a house there for fun...maybe some small rentals my Filipina can manage for her income after I've passed.
Been a blast.
good luck old man, may your next stage of life be as fulfilling as the story you told me
Flipping great show.
This was long and I thought I would listen to a few minutes but it was all riveting. Thanks to all for sharing thier experiences.
Yes! Hopefully new real-estate investors are watching this! Mitigating risk is always important in any market! Great show👌
Hey guys, I'm a foreigner, and I was browsing the internet researching real estate investments, specifically in flipping. I came across this video of yours, and it was wonderful to see that guy saying he hates the real estate market and is only in it for the money. Tremendous honesty! Loved it. lololololol
Absolutely Loved this Show! Please bring these flipping Shows more Often🙏
Real estate is all about being flexible and finding what works in the current situation. Thanks for sharing!
Great insights - Agree that there was too much saturation with too many investors chasing very few deals for a long period of time between 2019 - 2021. There were definitely some golden nuggets here: "flip stacking" where you bring all your contractors from several projects into one and getting it done as quickly as possible; when you're flipping properties at volume, you need to manage cashflow and ensure to allocate capital appropriately (i.e. towards profit, funding next deal, living expenses, etc), many investors got too addicted to turning houses quicker than normal (between 2018 - 2021) that when the music started to slow down (late-2022), they were caught with too much exposed capital on several projects that weren't moving and hence why many investors are out of the business now. Lastly, the point that James made about creating the right team and then developing a buy-box was underrated.
Super enjoyed this video, and the insight from people in the trenches everyday. If you ever need a flipping guest I would love the opportunity. I flip in the suburbs of Chicago.
Excellent interview! Thank you!
As a buy and hold imvestor I really enjoy to sharre the pain involved with managing contractors. I've always had to hire separate contractors for specifoc type of work. One occassion a general contractor worked but hard to fimd good legit ones.
Great episode! So much gold here.
Because some people is max up, liquidity is king, expensive debt in special hard money with a changing economy and banks tithing money if you don't have bigger pockets, and cushion be careful
Where are you guys getting these "lines of credit" for flipping to keep flipping more deals?
Another home run show. I loan on flips but I am buy and hold 😀
By “managing your cashflow” @36:10 he means have 6-12 months of reserves in your bank account.
This was really valuable!
I hate it too, love your honesty
Flipping is a bad addiction!!
One of my favorite videos!
This was interesting. Thank you!
Often times having reliable crews is worth more money - every time.
I think the wholesaling is a best way, no paying interest and no dealing with rehabs and cost going higher , speed is the key word
Great show guys.
at least they're honest about being greedy lol I hope their home restorations are actually of good quality.
The best episode yet. 🙌
Taryl seems so happy making videos , but I think , he hates dealing with dumb people and issues related to real estate , but I totally get why he hates the business
Smart flippers buy to hold n rent on side because of taxes.
Most flippers die in debt and broke...LOL
Quit for now, will come out in hoards once rates go down or there’s enough discount if prices go down. Only way to stop these leaches is through regulations but CON-gress will not do that
The guy who flipped to make $20k instead of $200 cash flow doesn’t seem to be very smart. Because you traded $20k for the future growth and appreciation.
he did it because if he did 3 more flips like that in 6 months he would have the same house for free with bigger cashflow? maybe I am wrong.
I hate house flipping! They're homes! Not burgers! Flippers are gutting out the souls of old homes. They look mid-century on the outside, but on the inside they've been gutted of ALL there uniqueness. It's disgusting.