Jobs gone bad..the other side of investing.

8 Replies

I have found this site to be incredibly full of information. I find myself burning through hours just running through the forum. While sharing some of the lessons and stories I've picked up with my business partner this morning he brought up an interesting point. Where are all the stories of the projects that went bad?

I would love to hear some stories about rehabs that went bad. Maybe miscalculated ARV's or money pits and what, if any, lessons were gleaned from the process. I know there are some amazing success stories on these pages and I have to assume that some of them were preceded by some failures. Anyone want to share?

I'm in the middle of a flip right now. It certainly got off on the wrong foot. You can read about it here: http://www.biggerpockets.com/forums/67/topics/115289-starting-my-first-flip-on-monday

I am pleased to say that the project is progressing much more smoothly after I've replaced my original contractor on the job. We are going to come in slightly over budget, but I believe I will still be within my contingency.

Thanks @Liam Goble for the response. I should have known the majority of issues would be contractor related...heh. How's the project going now? I looked at your thread and I'm curious how it's turning out.

I purchased a 6 acre lot with a small boarded up storage shed on it. I later found out that the shed was occupied by a squatter. It has been over 5 months now and have gone to court multiple times but no one seems to be of any help to me. Oh and he is suing me in county court for slander and pressed harassment charges on me in township court.

I have a full thread if you want to read about it. I cant copy it with my phone.

plumbing, plumbing, plumbing.

It never fails that every property I have been involved in has had plumbing problems. It can be very costly and take time to get fixed.

@Scott K.

I always re plumb the house from the street in. Its the number one problem with rentals. mine as well take care of it up front.

Originally posted by @Jay Hinrichs :
@Scott K.

I always re plumb the house from the street in. Its the number one problem with rentals. mine as well take care of it up front.

From now on I will just assume that there will be a big bill for plumbing. That's a good way to go

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