Nathan Payne flipped a house purchased before interest rates spiked, which threatened profitability. His team refinanced the loan and held the property until summer, when they sold it for $460,000 and netted $41,153 profit instead of breaking even.
Want to retire early off of investing in real estate? Let me show you a deal I just did that got me $41,000 off of a flip and what went wrong with the deal and what went right and how you can learn from it. So right here, as you can see, this is the deposit in my business account, um, $41,153. So that all sounds great and it's cool, but let me explain to you what happened on this deal and why you need to be careful as a flipper and how to basically do this the right way and not the wrong way. So what went wrong with this deal is that we bought it right before interest rates went up. And so when it was time to sell it and we were able to be wanted, so we took this house down, we refinanced out of it, we said, hey, we're going to wait a while, maybe prices will go back up. Luckily, it's summertime, we just listed it, we sold for $460,000 and made $41,000 instead of breaking even back in the day. Make sure you do deals the right way or you can get rocked.
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