House flips are easy, right? Take an old, outdated house, throw on some new drywall, and get ready to collect cash! We wish house flipping was anything close to that simple. Even veteran house flippers like Tarl Yarber mess up from time to time—often through no fault of their own. Whether it be inflation impacting your costs, supply chain breakdowns, or contractor shortages, a home run flip can turn into a hellish return in the blink of an eye.
But that doesn’t mean you can’t make money off a bad situation. Tarl did just that. Although it took him over a year to take home a payday of only five thousand dollars, thanks to this wild housing market, he dodged a six-figure bullet that could have ruined not only this real estate deal but many more to come. Thankfully, Tarl isn’t scared of showing us all his mistakes, because behind the mess-ups are a whole lot of phenomenal deals done.
If you’re flipping houses, trying out the BRRRR method, or doing any type of forced appreciation in 2022, please heed Tarl’s words. You could get caught with a major loss when playing around with the market, and it could sting so hard that it knocks you out of the real estate game entirely. If you’re going to take one thing away from this video, it’s to NOT make the same mistakes Tarl did.
00:00 SO Close to Losing $100K!
02:02 Before Photos
07:25 The Old Floor Plan
09:20 Initial Numbers
12:42 Where We Messed Up
14:51 The New Floor Plan
17:55 After Photos
19:55 Final Numbers
22:43 The Market is Shifting!
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Connect with Tarl on Tarl on Instagram:
@tarlyarber or
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