Real Estate Investing Mastery Podcast

When he went looking for a way to free himself from cubicle-hell, David Ounanian settled on the BRRRR method: buy a house, rehab it, rent it out, then refinance it and repeat it all over again. With each house estimated to cash flow at $200-300, David knew he just needed a small portfolio to replace his W-2 job.But of course, this is the Deals Gone Bad series, and you know that simply picking a strategy and finding a house is going to be the easiest part of the deal. After months and months of analysis paralysis, David’s wife insisted he pull the trigger, so he bought a $45,000 house in a class C neighborhood. The wholesaler he purchased the house from told him it would take $20,000 to make the house liveable, so David gave himself a conservative budget of $25,000 to get the job done.How much would you estimate for foundation damage? Or new clay sewer pipes? Or repairing a chimney? Or pouring a new driveway to comply with a brand-new city ordinance? As the costs began to mount up, David thought he was going t