My First House Flip: We Made So Many Mistakes!
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- Опубліковано 27 вер 2024
- We revisit the first house I flipped back in 2015. I had no idea what I was doing! I also didn't know that it would be the first of hundreds of flips I've done since.
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Every real estate investor has got to start somewhere. For most people they think that they need to have all the information before they dip their toe in.
That couldn't be further from the truth! I made so many mistakes on this flip. I would have done it totally different if I knew what I knew now.
But I would have never made it to where I'm at now without making those mistakes.
I hope this video encourages you if you're on the fence about becoming a real estate investor.
Great tip on making nice with the neighbors. The neighbor on my last flip gave me a great vibe, so I bought him a 12 pack and asked if he would park one of his cars in the driveway at night so the house didn't look vacant. Cheapest security I've ever paid for.
As I brake in with a Budweiser😂
There is no way I just read this I just bought a 12 pack for a neighbor for letting me use his hammer drill to hang shutters 😂😂
That bedroom to bedroom window 😂😂😂 Great stuff, Ryan! Love it
I know right? 🤣
I’m glad he’s honest about the up’s & down’s of the business.
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“These stupid kids” really pushed me to subscribe. And I’m a mom lol
Girl yes! I'm a proud mommy too and I really think we should normalize hating children.
@@sonabuvelle7493 Jesus Christ 😭😭
Yeah wait a sec 😂 I don’t hate children but children can indeed be a**holes lol
This video just gave me confidence in myself I'm almost done with my first project made so much mistakes but you know what so does every other rookie So its fine as long as you learn.
Absolutely 🙌
I’ve started watching every video of yours from oldest to newest. Watched a few of your videos and a few have had a pretty big impact on me so thank you. Keep up the good work
Thanks for the encouragement that you don’t need to know everything to start and even if u screw up its not the end. I’d really like to get into this but I’m getting so overwhelmed now with everything you need to know and think about!
Your content is great, the music is horrible and unnecessary.
I agree just hearing him talk is way better than hearing the music in the background
lol i was just thinking the same thing
The music is t horrible it’s just much louder than the talking portions which makes it hard to listen. The content is 🔥
The music isn’t horrible it’s just much louder than the talking portions which makes it hard to listen. The content is 🔥
This is the craziest layout even after the remodel. There are more mazes in the house that the Winchester house in San Jose California. 😄
I just had to change up a floor plan too on my second flip. I finally figured out a creative solution. I had to close walls and make some arches and move a wall and shift doors. I literally dreamed a solution and woke up to sketch it. Would not recommend!
You are humble and your newbies mustakes are so cute.
Can you do a video on what to look for into buying and getting the price down on your home and fixing it up!
Wow the lines on the ceiling of that house are all jacked up.
I just discovered your channel I am exited to follow you’re family’s continued journey , currently I am getting my real estate license this is awesome the tips you give on other opportunities available!
Life is all about mind set. Wake up, think, dream, work smart, work hard, hope, aspire, think creatively, and learn from success and failure.
What happened to the audio at the end?
Copy right
WOW I have never seen a home that is as white as this house. It's so white it hurts my eyes 🤣
You should do more videos like this 🙌🏽
“Would I live in this house? Absolutely Not!” 😂 Ok we are spoiled.
Love this video!! Thank you so much for sharing your experience. Please make more videos like this 🙏💖
Audio cuts out at the end, but awesome info man. Thanks
Question: Where I live people buy a home, and generally do a renovation before moving in, especially like kitchen and bath. Is this the common in the states or do people just wait to find exactly what they want? I'm just thinking why spend so much on a new kitchen or whatever if people are just going to rip it out and do their thing?
At least you were nice enough to give the $1K 😂
Also, and you may already have a video on this I haven’t found, but I would love a video on how to pick a good first flip
He does have his real estate license so he has better access to listings. Not sure how he got this house tho
Awesome video..thanks
So much good information. Thank you!
I'm not that great of a driver! You might even get to see a car crash in this video!
*proceeds to talk with his hands while driving*
Loved the video!
Thanks for sharing this info. Background music is distracting, though.
Nice of you to show us your childhood neighborhood from the 50's even if it brought up painful memories of kids bullying you. I know that couldn't have been easy for you. Question: how did so many additions pass inspection with exterior windows in interior walls when they pulled permits? 🤔
How did you finance your first flip ?
Look for Hard money lenders in ur area
Great question
You gotta have money to make money
So I never believe these flippers
They have budget to start with
Great video, Ryan!
I wish I got the confidence to do it
Quit being a bitch. JUST DO IT!! (shaui labouf voice)
Great educational video! Last 45-60 seconds are silent 🤐
Thought it was my internet connection lol
Thats a nice home for the price you sold it i want it 😂👍👍i need to purchase again teach my kids .is time again .👍great vidio you are real i when true the same thing .live n learn
"These stupid kids" LOL
Can you make a video of how you find deals?
Great video
About to buy your book
great video, lots of useful tips👍
Looks like where I grew up... That trailer park was Tropicana and Torrey Pines?
That's a great experience 👍
for your first flip, how'd you pay for it? straight cash, home loan, or hard money lender?
i'm wondering the same
pardon my ignorance, but what is a hard money lender? Pros, cons? Thank you in advance!
Where did you get the money for your first start of flipping ?
I believe he said he had used credit cards and get cash from them, he max out on all of them
Get your credit score up and eventually you can get a good loan from the bank
How did you fund your first flip? What were you doing before real estate? Did you have the 150k yourself? Was it a bank loan or private lender?
Maxed out my credit cards to get $50k for a down payment and used hard money. Wouldn’t recommend you do that, it’s just what I did
I have $150k cash and now I am learning how to flip house, but I wonder If I hire someone to do the work, does it can be make profit???
wow they really didn’t want to measure that new fridge
lol that layout was a whole maze
gram brought me here
I was excited to watch this video. Came here bc of Investorbrit... but " who is buying that crap?" Really?
That window thing sounds hilarious lol. I really really want to get into my first flip. Im 28 yrs old, and I am a handy man, so I can do most of the work myself. Only things I don’t know are electrical and plumbing. I have about 50K total in my savings. Is it possible for me to find something under 50K, fix it up with what’s left, and make something if anything??? I really don’t know how to go about my first flip with only 50K. Some people tell me to look into tiny homes, but I honestly never met anyone who lives in a tiny house where I live, so I never really liked that idea but who knows, I could be wrong?
Tonio9606 depends on where you live. Some zip codes are super expensive so even a completely trashed house will be waaayyy over 100k
One word: leverage! $50k will more than cover your earnest money to get you a deal and pay for incidentals. Then you find a hard money lender who will lend you all the rest of the money to buy, fix up and sell the place as an interest only loan. If the numbers are good and you have decent credit you can find a lender. There's no reason to spend your own money on this if you don't have to. Or if you're willing to live in it for a few years you could even get an FHA loan with 3.5% down and potentially get a grant to fix up the place, with the caveat that you have to have licensed contractors do all the work asap. You can actually do this over and over again, flipping the place you live every three years at a profit with very little down, while you also use hard money lenders to flip other projects, pushing your profits from your home into growing your flipping operation. As you scale up, if you go get your contractor's license you can still do work yourself but because hard money is expensive money you want to do your repairs as fast as possible so that you can either refinance into a conventional mortgage or sell the place, so maybe hire a couple guys to help you get it done quickly. A lot of hard money lenders will let you roll your interest payments into the loan for the duration of your construction schedule but if you go over those interest payments will eat your profits real fast, which is why it's great to get conventional financing if you can, but regardless, there's a ton of financing options available to you, even if you can't find conventional financing right now.
Look into fund and grow
I thought you were about to do a backflip
Could have made the layout better with one hallway down the center instead of two parallel hallways. Readjust the bedrooms and move the funky, meaningless room in the back of the house to the front for more living space and an open layout for living, dining, kitchen.
Me watching three Ryan videos:
Wholesaling and real estate is my calling
There we go!
You paid 135K for the house invested 15 K in renovations brings 195k and you say you profit 15 K I don’t understand
lol The profit was probably split dude, and fees
Giving someone $1,000 to pick up their entire life and move across town is never a mistake, it's common sense and human decency.
Paying off your tenant is cheaper than going through eviction and paying the mortgage for 2 or 3 months.
Love the channel keep up the great work! #newsub
I remember this house from a few years ago- I went in it.. Ryan you are so real and honest with people and share your first hand knowledge and experience. If you are a real estate investor or want to be an investor watch these videos for insights into the real estate flipping process, pros, cons, pitfalls and ways to make money on deals -ChaChing$$$
Good content, will like, but not subscribe bc far too many ads for no reason.
I wonder why at 4:30 he says there's a interesting twist there's a elementary school across the street.... but later in the video he talks about how the kids used to hangout while he was doing the rehab..... hmm
15,000$!!!!
props for getting through that and kept on keeping on bro.
that house was just ugly... the living room was terrible.. that fireplace at an angle.. you cant even put a sofa there
Nice content 🔥👍
Last couple seconds of the video audio is cut out. Just an FYI
What kind of flooring would you have used??
Great advice 👍 also your Instagram link in the description seems to be broken
Are you a realtor?
Winterwood??
Might not be Winterwood but I grew up in Las Vegas and I know Las Vegas has schools that look exactly like that
2grand in repairs? Because you can’t do anything with 2 grand. I flipped but being 100% honest and I had a great deal but even with that the only money I made was due to not paying someone else to do the work.The market is tight believe that.
What does the garage not being converted mean?
I believe its that it’s not officially converted into living space.
why you didn’t put at least some photos to see what is was like before?
Ryan, How do you find off market/wholesale deals?
How did you find your contractors it seem like all the contractors in my area are dumb
I live in that area
The price varies from different states. What state is this ?
Hey Ryan how'd you pull up to the house and just find out the lock combo? Thanks.
Since he's a real estate agent they give him the code to access the lock box on the house
@@ellepatton appreciate it
How to be you po. Haha. Idol!
What area do you flip?
Great channel and info, but don't use to much "you know" and such words 😁👍
Looks like your wholesaler didn't know what he was doing either in the beginning...or was outright dishonest!
For some reason do you have to pay taxes on a profit for a flip ?
Yes
That looks like my neighborhood I grew up in. Is that Helen Marie Smith Elementary? Antelope x Westcliff?
I would be the worst house flipper. The point of each flipping project is to get in and out in minimal time. I would want to do things to the house that would only matter to me. Plus I hate that basic stuff that's on the shelves in Home Depot. Most homes and apartments have thee worst lighting! Nobody cares if you can read in proper lighting, apply makeup in natural light, or energy efficiency. See? Look! I'm already doing it.
Haha, you’re not alone! A lot of people renovate a house to their liking when they first get started investing in real estate. If you’d like a deeper dive into how I personally flip houses, check out all of the educational content I have on FutureFlipper.com
Man...i could have told u that
Cool video though
This house was a mess bro lol
WHATEVER
how do you quify for more than one loan ?
You take the equity of the first house and refinance the house with the bank and get a loan for your second house
@@themusichock7361 if one makes enough per mo to qualify for both loans I tried that the loan officer said I don't make enough to pay both payments if there was a house was vacant or covid or dead beat that can't or just doesn't want to pay rent
do you sell those shirts?
@Ryan Pineda fake account, scammer
Would you be interested in Accessing a Deal I'm in I am curious to get your professional opinion?
How are you this stunning though? Fit cutely stern face. Were u in d military.?
What a jerk. Downgrading his house he trying to sell. Lol
Too many ads
Do you need a real estate license to flip houses?
Nope
Not at all
I hate flippers like you. You did not anything and just jacked up the price!
Sounds like a terrible school district.
yo please stop using the fake pop music... its cringe and its so 2011
awesome channel btw
Half this video is just rambling on and on about nothing. Start your video and get right to meat of your topic. I didn’t even watch the whole video I was so uninterested.
😆😆😆😆😆😆😆😆😆😆😅😆😆😆😆😆 took a kid to the principle. And a school monitor watching the house. I'm. On. The. Floor. 😂😂😂😂😂😂😂
Man that's an ugly house. A box extending into another room? Seesh good thing you were able to sell it.
Very informative, I own rental property and I'm trying to get into flipping. Preciate the motivation to get out there and just do it💯💯
Hey Ryan, as a tenant, I would find the tile acceptable. Just my opinion. I wouldn't go the extra mile to switch out the tile. Just my 2 cents. I'm from florida so I'm not sure about other locations. Thanks for the awesome video 👍🏼
Holy shit! I was a superintendent for first key homes and I did the turn about a year ago after some squatters, the fridge was replaced because it was stolen, windows were broken as well!