Ryan Pineda lost over $1 million flipping houses, including a $60k loss on a mobile home. A real estate coach named Brian tells clients losing money is normal, which Pineda calls irresponsible and damaging to the industry.
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 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.
