Lessons Learned from a Costly Real Estate Renovation

The speakers reflect on a real estate renovation project that led to financial loss and discuss the lessons they have learned, emphasizing the importance of a reliable team, understanding city regulations, building relationships, and timely completion of projects.

Transcript

chevron_right

Play full episode

chevron_right

Transcript

Episode notes

There are ebbs and flows in every real estate investing journey, but not every home renovation project results in a six-figure loss! Fortunately, today’s guests learned one very expensive lesson so that YOU (hopefully) don’t have to!

Welcome back to the Real Estate Rookie podcast! Justin Noe and Nate Cherubini are real estate investing partners with top-notch problem-solving skills. But not even that could stop them from making a MAJOR blunder on one of their real estate deals—a mistake that cost them a whopping $120,000. After dealing with termites, zoning issues, and bad contractors, this dynamic duo had every reason to give up on real estate—but didn’t!

In this episode, Justin and Nate stress the importance of keeping your contractors in check and fostering healthy relationships in real estate. They also talk about why you should build your buy box early on in your investing journey and how to get your family on board with your real estate investing goals!

In This Episode We Cover:

How this duo bounced back after a $120K failed home renovation project

Choosing your buy box early on (and avoiding “shiny object syndrome”)

Why you NEED a good “ground game” when investing out-of-state

The BEST way to use private money or hard money on a house flip

Finding a complementary real estate investing partner

How to get your family on board with real estate investing

And So Much More!

Links from the Show

Find an Agent

Find a Lender

Ashley's BiggerPockets Profile