I just lost $28K, will it be my best investment yet?

I just lost $28K, will it be my best investment yet?

Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes

It's true, I just stroked a check for $28K to re-renovate a house I already paid to renovate. Lots to the story, but it boils down to poor work being performed initially and a project manager that let things slide. It's real estate and if your in this game long enough your going to have a problem arise in your projects. The real question is how do you overcome the setback. 

I preach customer service and doing the right thing, that's all great to talk about because it costs you nothing, but here I am needing to put my money where my mouth is. I will make this right for the new homeowner, because they deserve a home that has quality construction done right! I will go the extra mile to ensure they are happy with the finished product, because it's the right thing to do.

It's a bump in the road, but I've learned so much about my personal flip business locally, about my morals and how I'll react to bumps in the road, and more importantly how I respond to turmoil. This alone is why I'll look at this as one of my most successful investments yet. 

Setbacks just set you up for a comeback and I'm more motivated and inspired than ever!

Happy investing!

7Reply
16 views

Most Popular Reply

Kuba F.Pro Member
Real Estate Investor · Los Angeles, CA · Member since 2013 · 2k+ posts · 694 votes
9y
At the end of the day you have to look yourself in the mirror. Gratitude and service to others usually make it easy for me. Sometimes it takes a fat check like in your case. I've never regretted making the right decision, though. Even when it is THAT painful.
See this reply in the discussion

8 Replies

Jump to latestLatest
  • Kuba F.Pro Member
    Real Estate Investor · Los Angeles, CA · Member since 2013 · 2k+ posts · 694 votes
    9y
    At the end of the day you have to look yourself in the mirror. Gratitude and service to others usually make it easy for me. Sometimes it takes a fat check like in your case. I've never regretted making the right decision, though. Even when it is THAT painful.
  • Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    9y

    @Kuba F. your exactly right, I don't regret a single minute of this decision as it's the right thing to do. Spending too much time investing out of state and the one right under my nose fell apart on me, ha!

  • Specialist · Indianapolis, IN · Member since 2016 · 841 posts · 480 votes
    9y

    Great story.  Sorry it happened to you Jeff.  It is nice to see good people trying to do the right things. 

  • Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    9y

    @Ritch Bonisa thanks for the kind words. 

  • Real Estate Investor · Sacramento, CA · Member since 2016 · 96 posts · 26 votes
    9y
    Good man! Awhile back as an agent represented a buyer on a flip that was done poorly by the seller/investor, it was hell. Took a year long to rectify the problem and it cost more than what my buyers originally asked for. Good deed and understanding the situation and taking ownership now means less problems and better investments to come. Good luck on future deals and profitable ones too!
  • Specialist · Indianapolis, IN · Member since 2014 · 670 posts · 352 votes
    9y

    @Yia Her thanks for the comment! I've found that if you focus on people and not money then great things come together. It's a small bump in the road for me, big deal for the buyers. Cheers!

  • Flipper/Rehabber · Portland, OR · Member since 2016 · 60 posts · 10 votes
    7y

    I bought two houses through Jeff and north peak and I can honestly say he is true to his words. He helped me through the process and mine had hiccups too. When I needed someone to go by and look at the work being done...he was there. They don’t all go smooth but having honest hard working ppl on your side makes it all work out in the end. Keep up the good work. And please post more of your expertise. We would all benefit. 

  • WorldWide · Member since 2016 · 1k+ posts · 1k+ votes
    7y

    Good stuff, Jeff. Curious if you could provide some line items behind the $28k? Seems like an awful lot that went wrong. 

Join the conversationCreate a free account to reply, vote on answers and follow this thread.