Derek Dombeck loves creative deals, so when a friend offered him a defaulted note that he wanted to unload, he jumped at the chance to be in first position. For only $4500, he was poised to take possession of a 4-bedroom, 2-bathroom house … [Read more...]
954 » Deals Gone Bad #17 – When A Tree Falls On Your House 4 Hours After You Buy It – Tim Grimmett
The mentor of my mentor is Tim Grimmett, a St. Louis area investor since 1999. Earlier this year, Tim purchased a house for $5,000. The kitchen was burned out of the house, but it had good solid bones. He knew it’d only take about $7,000 to … [Read more...]
953 » Deals Gone Bad #16 – Adverse Possession on a Complicated Probate – Lisa Even
For six years, Lisa Even has worked specifically with distressed properties in the Phoenix market. Weird clouds on the title or city violations don’t scare her because those usually mean that the seller is having a harder time getting rid … [Read more...]
952 » Deals Gone Bad #15 – Getting Sued On A Rehab That Later Got Destroyed In A Hurricane – Bill Allen
Bill Allen has turned house flipping into a 7 figure business with his companies 7 Figure Flip, Flip Hacking Live, and Black Jack Real Estate. He takes pride in the rehab work his company does, so when he was accused of selling a house with … [Read more...]
950 » Deals Gone Bad #13 – Accidentally Buying A Property From Someone Who Didn’t Even Own It – Justin Lee
In 2010, when the real estate market was still a little wild from the crash, Justin Lee found a great deal from another wholesaler. After a 45-minutes drive to see the property, he felt pretty confident purchasing it outright with cash. The … [Read more...]
949 » Deals Gone Bad #12 – What Could Go Wrong In A Probate Deal With 7 Siblings Involved? – Ester Tellez
With every sibling seemingly in agreement, Ester Telles from Ester Buys Houses held a Zoom meeting to agree on a purchase price for the family home. But one reluctant sibling decided to throw a wrench in the plans. With 7 siblings, there … [Read more...]
948 » Deals Gone Bad #11 – How David Ounanian’s Very First BRRRR Deal Went Bad – And Why He Didn’t Give Up
When he went looking for a way to free himself from cubicle-hell, David Ounanian settled on the BRRRR method: buy a house, rehab it, rent it out, then refinance it and repeat it all over again. With each house estimated to cash flow at … [Read more...]