So if you guys remember I bought this house on December 2 of 2021…..and I finally sold it on February 27, 2023….oh my god…that took awhile… as of today I'm filming it's April 2023 and to be honest I kind of debated about making a video about this project. To be 100% transparent I fumbled the bag… I totally screwed up this project I failed to execute correctly and I basically felt super embarrassed to talk about it…
But after reflecting with myself and thinking about it I think it's important for anyone to talk be able to talk about their failures.
1.TEAM UP! I had too much of an ego and wanted to do this alone. I wanted to be able to say that I took down this massive project and was super successful all by myself. if I could go back I would’ve taken this deal to an experienced investor, or even team up with friends who are great with looking into the fine details….If I did this they Would’ve been able to see my blind spots. See the things I didn’t see. See the things I overlooked, everything.
2. Don’t be greedy I know so it’s easy to say, and I thought I wasn’t a greedy person. But when you see big numbers like that, for the first time in your life, it’s kinda crazy.
3. Speed When flipping there are a lot of risks. You have the real estate market. Which I’ve been told could flip over night. With flips you want to get in and get out. ASAP
4. Use Luxury Materials & Designs when you're selling a flip in the $2 million range I realize that you must step up everything. You must use luxury materials you must have luxury designs you must have a wow factor you cannot be basic.
5. Nothing Is Guaranteed In this business nothing is guaranteed. And I say this because when I took on this project I was so sure that everything was going to go according to plan that when I was done with the project we're still gonna be in a bidding war and that I was definitely going to make at least half a million on this.
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My YouTube equipment: (Canon EOS M6 Mark II) (EF-M 11-22mm f/4-5.6 STM Lens) ( Professional Wireless Lavalier Microphone) (2 Piece LED Light & Stand Kit) (Joby GorillaPod TriPod)
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By: Jeremy Mateo - Hawaii Real Estate Title: $0 Profit FAILED Hawaii Luxury Flip | 5 IMPORTANT Things I Learned (Real Estate Investing) Sourced From: www.youtube.com/watch?v=yfEv8DjSGQ0
