The David Greene Show BRRRR Gone Bad | Episode 26
Dec 19, 2024
Chelsea Kopacz, a new real estate investor, shares the harrowing tale of her first BRRRR deal in Indianapolis that quickly turned into a nightmare. She discusses the critical importance of trust in real estate partnerships after discovering her contractor turned out to be a scam artist. Chelsea emphasizes the lessons learned from the experience, including identifying red flags in property management and the need for diligence throughout the investing process. Her insights serve as valuable warnings for aspiring investors.
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Chelsea's First Deal
- Chelsea Kopacz, a new real estate investor, bought an out-of-state property in Indianapolis through a wholesaler introduced by a trusted friend.
- She aimed for a manageable BRRRR project to gain experience and build long-term wealth.
Smooth Initial Rehab
- The initial rehab went smoothly, with consistent updates and the wholesaler sticking to the budget.
- He also offered property management services, seemingly simplifying the process for Chelsea.
Unveiling the Truth
- Upon visiting the property, Chelsea discovered undisclosed issues like a tenant's death and shoddy repairs.
- This highlighted the wholesaler's dishonesty and the need for independent verification.
