Wealthy Way Lessons from a Decade in Real Estate: Scaling Smart & Staying Profitable
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Feb 8, 2025 Dive into a thrilling journey through nearly a decade in real estate, where lessons learned from flipping over 700 houses and facing significant losses shape a new strategy. Discover how minimizing debt and maximizing profit is the focus for future success. The importance of relationship-building and referrals takes center stage in generating sustainable profits. Get insights on adapting to market downturns while refining methods for long-term growth. It's a story of resilience and smart moves in the dynamic real estate landscape.
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Losses from High Debt
- Ryan Pineda recounts his experience flipping houses, making millions, but also losing millions due to market shifts and high debt.
- He learned the downside of carrying high debt and the importance of balancing risk and reward.
Wholesaling vs. Flipping
- Wholesaling carries less risk than flipping houses, as it doesn't involve debt.
- Marketing expenses remain consistent, regardless of whether one flips or wholesales.
Set Criteria and Caps
- Instead of buying every good deal, set minimum criteria and a cap on the number of deals.
- This approach helps manage risk and prevents overleveraging.