Ryan Pineda lost over $1 million flipping houses, including a $60,000 loss on a mobile home. He argues that real-estate coaches shouldn't tell clients losing money is normal, no matter how many deals they've done.
You ever lost a ton of money flipping a house?
Oh yeah, dude. Flipping houses is not all glory. I would guess that I've lost over $1 million in total on bad deals. My biggest loss ever was about $60 grand on a deal. We bought this mobile home for like $70, $80 grand and we still lost $60 grand on it. You know, you would think that, okay, the million-dollar home, okay, if you lose $60 grand, that makes sense. You don't think it would happen on a mobile, but it did. I mean, when you're doing volume like you're doing, you're bound to take a couple losses.
Brian talks about losing money on a transaction in real estate investing and I That really upsets me because you should never tell your clients, oh, it's okay to lose money, whether you on your 80th deal or 800th deal. And for a coach, a guy that prides himself on being a real estate coach, to say, well, you know, you're going to win some, you're going to lose some attitude is embarrassing to the rest of us.
