A short conversational video between Steve D Valentine and Isaac discussing the financial risk assessment for property renovations and investments. The hosts stress the central question: can you afford to lose money on a renovation; if not, either realize gains up-front or pass the deal to someone who can absorb the risk. They emphasize opportunity-finding, knowing how to execute, and when to flip versus renovate.
Chapters
If you're one off by yourself, it's going, can I afford to do the renovation? And the other piece is, can I afford to lose money at the end of this?
Right.
That's a big question. A lot of people don't think they're like, I'm going to make so much money. My question is, can you afford to lose money if this goes wrong? And if the answer is no, then make your dime up front, give it to somebody that can't afford the risk and move on to the next thing until you can afford to lose money 100%. Right. Everybody wants to go in there, like, I'm going to make so much money. I mean, you talk to anybody, Isaac will tell you like the last deal he did, he got caught sideways on and he should have just flipped it. Right. He should have just sold it as is and called it a day day. And so we have to be aware of these is like not that there's a guarantee, but it's a no brainer, right?
Right. Well, it's like it's finding the opportunity, but then again, knowing what to do with it is the second piece of that. If you don't know what to do with it, then it's going to be. It's a waste of energy and time.
This is the hardest part, finding the opportunity. Something that has the numbers that says I can make money in this, either way I do it because unlike wholesaling, you're running 100 miles an hour trying to somebody to say yes versus closing on it and then getting to figure out what to do with it, which is actually where money.
