681: Real Estate Horror Stories: Navigating Six-Figure Losses, Stabbings, and Sewer Problems 01:19:23

    <p>There’s a <strong>dark side of real estate</strong> no one talks about. <strong>Crime</strong>, <strong>destruction</strong>, <strong>theft</strong>, <strong>violence</strong>—you name it, we’ve dealt with it. With the spookiest day of the year coming close, we’re going to tell you all our terrible real estate tales. Everyone on podcasts and YouTube wants to show you how easy it is to invest, how it’s an assured path to wealth, and rarely what <strong>type of mistakes you can make</strong>. But we’re flipping the script, bringing in some of the best and brightest in real estate to show that the grass is usually greener where the septic tank is.</p><p>Today’s guests, who have all collectively succeeded at failing, are <strong>Andrew Cushman</strong>, <strong>Jamil Damji</strong>, and <strong>Matt Faircloth</strong>. If you’ve been a BiggerPockets listener, these names may sound familiar to you, but if you’re brand new, let us introduce you to these industry giants. Andrew is a <strong>multifamily expert</strong> and one of the smartest names in the game on screening and underwriting (analyzing) properties. Jamil built <strong>the nation’s largest wholesaling operation </strong>and is an expert guest on <a href="https://www.biggerpockets.com/podcasts/on-the-market"><em>On the Market</em></a>. And Matt, CEO of the DeRosa Group,<strong> literally wrote the book on </strong><a href="https://store.biggerpockets.com/products/raising-private-capital"><strong><em>Raising Private Capital</em></strong></a>.</p><p>But these titans of industry only made mistakes at the beginning of their careers, right? Not quite. They share today a selection of stories that will make you realize that the only <strong>successful investors</strong> are the ones who can both <strong>literally and figuratively weather a strong storm</strong>. And if you think it’s all <a href="https://www.biggerpockets.com/blog/cash-flow">cash flow</a> and cruises for these investors, you couldn’t be more wrong.</p><p><strong> In This Episode We Cover:</strong></p><p>Why you should<strong> ALWAYS check out a property before you buy</strong> (and what happens if you don’t)</p><p>Becoming the "Sheriff" of your investment and how contractors can easily <strong>take you for a ride</strong></p><p><a href="https://www.biggerpockets.com/blog/1031-exchange"><strong>1031 exchange</strong></a><strong> mistakes</strong> and how to negotiate with a seller even when you’re on a time crunch</p><p>Always <strong>staying in your lane</strong> and trusting your gut when a deal doesn’t feel right</p><p>Paying more for insurance and how to<strong> financially prepare for a natural disaster </strong></p><p>Why even with all the pain, <a href="https://www.biggerpockets.com/guides/ultimate-real-estate-investing-guide"><strong>real estate investing</strong></a> is the best wealth vehicle in the game!</p><p>And <strong>So </strong>Much More!</p><p><strong>Links from the Show</strong></p><p><a href="https://www.biggerpockets.com/agent/match">Find an Investor-Friendly Real Estate Agent</a></p><p><a href="https://www.youtube.com/channel/UCVWDbXqQ8cupuVpotWNt2eg">BiggerPockets Youtube Channel</a></p><p><a href="https://www.biggerpockets.com/forums">BiggerPockets Forums</a></p><p><a href="https://www.biggerpockets.com/membership-types">BiggerPockets Pro Membership</a></p><p><a href="https://store.biggerpockets.com/">BiggerPockets Bookstore</a></p><p><a href="https://www.biggerpockets.com/blog/real-estate-investing-bootcamps">BiggerPockets Bootcamps</a></p><p><a href="https://www.biggerpockets.com/podcast">BiggerPockets Podcast</a></p><p><a href="https://bit.ly/biggerpocketsswag">BiggerPockets Merch</a></p><p><a href="https://www.biggerpockets.com/podcasts?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Listen to All Your Favorite BiggerPockets Podcasts in One Place</a></p><p><a href="https://www.biggerpockets.com/podcasts?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Learn About Real Estate, The Housing Market, and Money Management with The BiggerPockets Podcasts</a></p><p><a href="https://www.biggerpockets.com/investment-calculators?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Get More Deals Done with The BiggerPockets Investing Tools</a></p><p><a href="https://www.biggerpockets.com/forums/521-real-estate-events-meetups?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Find a BiggerPockets Real Estate Meetup in Your Area</a></p><p><a href="https://www.biggerpockets.com/users/davidgreene24?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">David's BiggerPockets Profile</a></p><p><a href="https://www.instagram.com/davidgreene24/">David's Instagram</a></p><p><a href="https://www.biggerpockets.com/blog/real-estate-661?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">BiggerPockets Podcast 661</a></p><p><a href="https://www.vpacq.com/">Vantage Point Acquisitions</a></p><p><a href="https://derosagroup.com/">The DeRosa Group</a></p><p><a href="https://www.youtube.com/c/JamilDamji">Jamil’s YouTube</a></p><p><strong>Book Mentioned in the Show:</strong></p><p><a href="https://store.biggerpockets.com/products/raising-private-capital?utm_source=owned_media"><em>Raising Private Capital</em></a><em> </em>by Matt Faircloth</p><p><strong>Connect with Matt, Andrew, &amp; Jamil:</strong></p><p><a href="https://www.biggerpockets.com/users/andrewc58?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Andrew's BiggerPockets Profile</a></p><p><a href="https://www.biggerpockets.com/users/jdamji?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Jamil's BiggerPockets Profile</a></p><p><a href="https://www.biggerpockets.com/users/mfaircloth?utm_source=youtube&amp;utm_medium=description&amp;utm_campaign=none">Matt's BiggerPockets Profile</a></p><p><a href="https://www.instagram.com/jdamji/">Jamil's Instagram</a></p><p><a href="https://www.instagram.com/themattfaircloth/">Matt's Instagram</a></p><p> </p><p>Click here to check the full show notes: https://www.biggerpockets.com/blog/real-estate-681</p><p><em>Interested in learning more about today’s sponsors or becoming a BiggerPockets partner yourself? Check out our </em><a href="https://www.biggerpockets.com/blog/sponsors"><em>sponsor page</em></a><em>!</em></p>
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