How much I made on a Flip? #wholesaling #paynelessflipping #paynelesswholesaling

Name: How much I made on a Flip? #wholesaling #paynelessflipping #paynelesswholesaling
Uploaded: 2024-06-29T23:00:23+00:00
Duration: 53 s
Channel: Nathan Payne
Description: In this video, Nathan Payne walks viewers through a recent real‑estate flip that netted a $41,153 profit. He begins by showing the deposit in his…

29 Jun 2024 · 1 min

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In this video, Nathan Payne walks viewers through a recent real‑estate flip that netted a $41,153 profit. He begins by showing the deposit in his business account, then explains the key mistake of purchasing the property just before a rise in interest rates, which forced a refinance and a longer hold period. He describes how the team refinanced, waited for market conditions to improve, and eventually listed the home in the summer, selling it for $460,000 and turning a profit instead of breaking even. Throughout, Payne emphasizes the importance of timing, proper refinancing strategy, and risk management for flippers, urging viewers to learn from both the errors and the successes of this deal.

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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.