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EP 156 - Major Lessons from Mike's First House Flip

Collecting Keys - Real Estate Investing Podcast

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How to Overestimate Your Lending Costs

We were way over budget on our renovation and everything else. We tried to call the police and all this sort of stuff and they were like, well, did you have a written agreement? And of course, our dumbasses did not because we didn't know any better. To this day, I don't know what happened to this guy. If he went to jail, if he died, if he just moved to Canada, who knows? Either way, we never saw him again and he stole a good chunk of our money. So that was a huge expense as well that we had to deal with there.

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