Real Estate Investing: 3 Tips for When Things Go Wrong
When Real Estate Investing goes wrong there are 3 things that you can do to turn a complete negative into a positive. Learn these 3 tips by watching this video and share it with all your friends to help them if/when it happens to them too.
0:00Subscribe to this channel . . . . h a h a . . . 0:03Rrrrrrr . . . 0:10I did everything myself in here that is not how'd you do the busines 0:14And that right there is a house that I have already flipped as well 0:18that I already know that I can flip this house to a buyer on my buyers list 0:22like I got a strong buyers list in this area 0:28Hey what's up guys John Cochran here and today is System Saturday the day that 0:32I bring you a system that I use in my business 0:34that you can rip off duplicate using your own local market 0:37now if you haven't been one of my live events yet why not 0:41I only deliver my entire blueprint to you which qualifies you for a five 0:45Hundred thousand dollar 0:47line of credit to do business with so on today's 0:50System Saturday session you'd probably think that I install 0:54a nice pool here in the basement but that's not what it happened 0:58literally right after I bought this property something went wrong 1:01the basement has flooded with all this water and it smells 1:06so bad that the buyers is just not wanting to buy this property anymore so on today's 1:11session we're going to explain to you what to do 1:13after you buy a property and things go bad how do you react to it 1:17so let's go up stairs and I'll tell you exactly the three things to do 1:20So the first one is actually assuming the worst, so this always 1:24starts before 1:26you buy the property want whenever you're getting ready to 1:29make your initial offer on a property so if you go down into the home and 1:33down into the base or whatever 1:35and the furnace looks a little bit effy assume that it is completely replaced 1:40if you go to the front of the house on the outside and you know the the front of 1:44the roof is just wavy 1:45you known in places assume the entire roof needs to be replaced I would definitely 1:49rather 1:50assume the worst and it really not eat into my profits rather than assuming the 1:55best something happens 1:57and then BAM guess what your even struggling to even make a 2:00a profit on the property now and tip number two is to 2:04always be a realistic and be realistic with the outcome 2:08so luickiIy I flipped so many of these things that the outcome of this 2:12still gonna be great even though there's water in the basement up to 2:15up to your knees okay so be realistic about the outcome 2:19and sometimes out of these homes the best thing you can get is an education 2:23and always hope to break even whenever you get that education and you don't 2:27lose money on these deals that's why we're prepping you in the system 2:30Saturday 2:31so when things happen like this you don't freak out Luckily I have to flipped so 2:35many 2:35properties and I literally know that the outcome of this is still going to be 2:39great where we're going to make 2:40good profit on this thing so that's tip number two 2:43and tip number three is you might have to change up your exit strategy 2:48if it makes sense so you can see there's a lot of water down there in the 2:52basement and we're trying to wholesale this property of so 2:55it's totally gonna make sense that we just put it right back up on the market 2:59bring all those buyers back through it with no water in there still try to 3:03wholesale the property of 3:04understanding that we might have to change our exit strategy from 3:07wholesaling 3:08to pre having and sometimes in these deals when things go wrong you might 3:12have to change it from 3:12exit strategy of pre having to get out of it bit and wholesale 3:16just hope that you break even on it or you can make still a little bit of money on 3:20the deal so 3:21I subscribe to this channel let me know what you think of today's System saturydays I'm out 3:25See you guys!!