Lessons Learned from a $75K Mistake | EP. 58

A wise person learns from the mistakes of others. Be that wise person and listen to this wound-licking episode of The FasterFreedom Show. Sam and Lucas are the ones licking their wounds on a ‘fix n flip’ that is likely to cost them $75K. It’s not all rainbows and butterflies in real estate – and today, the guys are discussing a pretty big loss on a ‘fix n flip.’ There are lessons to be learned from evaluating your holding costs and not rushing the rehab. Letting a house sit on the market for nine months is enough time to have a baby (as Sam points out). So what’s their plan going forward? Listen in and learn — there are always alternatives to minimize the damage. There’s also a giveaway worth $25K. And a dog in the studio that’s not behaving itself. And the ‘Net Worth Game.’ It’s classic Sam and Lucas — being honest, authentic, and transparent about what’s working for them in the real estate game. Come and get it! Here is the giveaway link! https://upvir.al/142510/lp142510“Rushing it, and cutting corners, and doing things like that, usually doesn’t help. Especially in a market that’s not crazy, crazy, crazy hot.” - Sam Primm“Our initial budget on this house was $60K. When we listed the house, we ended up spending $75K. In the last two years, you could get away with that, but when this market shifted, that’s not something you can get away with. You’ve got to be really dialed in on your estimate to actuals — and have those be as close as possible.” - Lucas WallsIn this Episode:-Why you should NOT rush a rehab-The cons of trying to do work on a listed house-Making first impressions count when you do list-“You don’t want some stank on your house!”-Listing your house too high-Evaluating your holding costs-What do you do if your property sits on the market for nine months? -The $25K giveaway — explained and hyped up!-How much are Robert Downey Jr. and Chris Pratt worth?And more!Connect with Sam and Lucas:- Website - https://fasterfreedom.com/- Instagram - https://www.instagram.com/samfasterfreedom/- Facebook - https://www.facebook.com/SamFasterFreedom/- LinkedIn - https://www.linkedin.com/company/faster-freedom/- YouTube - https://www.youtube.com/channel/UCQ0PT_ukTeNVAr0XPiSX2Lw- TikTok - https://www.tiktok.com/@samfasterfreedom