A guy. Like you and me. Let’s say that his name was John… which is actually his real name. ​ John always dreamed of getting into real estate. You know. Put some money. Easy job. Get some money back. All fluid and without headaches. ​ Well… Inspired by YouTube videos, gurus and "rags-to-riches" success stories in TikTok, he decided to renovate and flip an old duplex—all by himself. No contractors, no project manager… You know… to save some bucks. Pure determination, a hammer, and an overconfidence bordering on delusion. ​ The first sign of trouble? He got the keys and immediately started demolition…without turning off the electricity. One accidental swing of the crowbar later, he got a free lesson in electrical conductivity. ​ Then came plumbing. John figured, “How hard can it be?” and started replacing the bathroom pipes himself helped by YouTube. A minor miscalculation (turning the wrong valve) turned his tiny bathroom into a scene from Titanic…. But without a hot blond around. ​ When he finally called a plumber, the guy just sighed, nodded, and tripled his quote. ​ Then… paperwork. The city inspector’s visit. John, eager to show off his progress, proudly pointed to his freshly installed, slightly slanted kitchen counter. The inspector took one look at the DIY wiring, the uneven drywall, and—most importantly—the fact that John had unknowingly removed a load-bearing wall (“Open concept, bro!”)—and simply asked, “Who did this?” ​ John hesitated, then replied: “…A guy I know.” ​ Needless to say, John’s dream flip turned into a multi-month (and multi-thousand-dollar) disaster. ​ The property did eventually sell. Even for a small profit, but not before he spent way more fixing his mistakes than he would have by just hiring professionals in the first place. ​ Moral of the story? As I love finance, let’s say that "sweat equity" just means you're sweating because you messed everything up. ​ Other ways to make money in real estate, just in this book. ​ ​ PD 1: If you liked this email, don't keep it in secret and forward it to a friend. They will thank you enormously one day. PD 2: If somebody has sent you this email and you want to receive emails like this yourself, visit vicentevalencia.com PD 3: If you want unsubscribe, click the link below. ​ ​ |
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