Zero discussion or questions on the guest's current number of held properties and what his plan is for the next part of the cycle in one of the most volatile markets in the county. Zero discussion or questions on purchase price, rehab costs, selling price, average time for rehab or average time to sell except for one property that the guest admitted was unusual for him. The hosts were all, "wow, that's great!.this is so inspiring!"
The guest was some guy who has been flipping houses since 2015 in the bad parts of Vegas and is on track to flip >100 houses this year. I just finished listening to the most recent podcast this morning and was really disappointed in the quality. While I have no qualms against investing using hard money lenders, I think it's dangerous to say you can invest with "no money." While it might not be in the deal, if you don't have any savings to fall back on, you are vulnerable to any problem that may come up.Īm I a fuddy duddy or do others feel the same? Lots of articles on how to invest with no money down. A user could post this on their site, but they selected it as the item to promote in the newsletter as the "right approach." This seems to be a typical story angle for them also. This speed acquisition seems very fast to me (and scary), even if you have the money to pay cash for them all, you don't know what you are doing. Newbie to 5 units in 7 months! was in an email today as a "success story" spotlight. Am I too conservative/slow/over-analyzing or do others feel the same? However, I am constantly surprised by how risky their advice is (or I perceive it to be). Bigger Pockets has been a great resource to learn about investing and different kinds of investing, they even occasionally have an article where they jump on the frugality bandwagon.
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