Flipping mistake! This week, we’re making Tarl relive one of his most expensive mistakes, on camera, for your benefit! He walks through a fix n flip he did back in 2016 that had almost every problem imaginable, from bad foundations to sludgy septic tanks, and even almost setting the forest on fire. This flip taught Tarl a lot of lessons, many of which have made his life and investing career far easier. But don’t make the house flipping mistakes Tarl made, learn from him and do better on your next deal!

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Check out Last Week’s Episode:

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Get The Book on Estimating Rehab Costs:

The Book on Estimating Rehab Costs

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Hear Tarl’s Episode on the BiggerPockets Real Estate Podcast:

BiggerPockets Podcast 189: 500 Deals, the $100,000 Wholesale Paycheck, & the Systems That Make it Work with Tarl Yarber

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Follow Tarl on Instagram:
@tarlyarber or https://www.instagram.com/tarlyarber/

00:00 A Big Flipping Lesson
02:52 Acquiring The Property
06:05 Pro Tip: Know Your Capacity
06:33 Exterior Tour
09:06 Interior Tour
10:56 Budgeting Mistakes
11:41 An Expensive New Floor Plan
16:14 Pro Tip: Always Hire Professionals
17:48 Giving the Property a Face-Lift
18:35 Everything That Went Wrong
24:41 Starting a Forest Fire (Almost)
31:46 The End Result (+After Photos)
35:00 Lessons Learned
37:10 Pro Tip: Focus on the Planning Phase
40:10 The Final Numbers