My WORST Real Estate Investment Deal - A Nightmare Property

My WORST Real Estate Investment Deal - A Nightmare Property | Real Estate Investing 101

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7 жыл бұрын

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. This is my WORST real estate investment property - the only deal I lost money on. It's easy to laugh now, but it was a very stressful situation. I didn't have any guidance when I started real estate investing, I just jumped in with both feet. Learn from my mistakes so you don't do what I did!
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My WORST Real Estate Investment Deal - A Nightmare Property
Advice | Real Estate Investing 101
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1. Always get a private property inspection, the city inspection, and your contractors inspection + estimate prior to purchasing
2. Coordinate with your management company on how showings are to be done
3. If property inspectors are not doing what they should, speak to a supervisor ASAP
4. ALWAYS sign a contract (drafted by an attorney) with your contractor
5. Use a licensed and insured contractor
6. Don't rely on the advice of people who have no financial interest!
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This Video: • My WORST Real Estate I...
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Based in Detroit.
Jaspreet Singh
DISCLAIMER: This description may contain links from our affiliates, sponsors, and partners. If you use these products, we will get compensated - but there's no additional cost to you.
DISCLAIMER CONT'D: I'm just a random guy on KZfaq - do your own research! Jaspreet Singh is not a licensed financial advisor. He is a licensed attorney, but is he is not providing you with legal advice in these videos. This video, the topics discussed, and ideas presented are Jaspreet's opinions and presented for entertainment purposes only. The information presented should not be construed as financial or legal advice. Always do your own due diligence.

Пікірлер: 1 700

@MinorityMindset 7 жыл бұрын

Thank you for watching - You learn WAY more from your mistakes than from your successes which is why I shared this story. I've been involved in lots of deals after this property, so I'm glad I made my mistakes early on 😂! If you want to see what you SHOULD do, watch My Very Profitable Real Estate Deal: kzfaq.info/get/bejne/id2Jict3uK2bhZ8.html

@citizencaine3151 7 жыл бұрын

Minority Mindset I don't feel bad now with my 1st rental property. without failure...there is no success!

@dabullzfan25 7 жыл бұрын

I wouldn't be surprised if the City did that stuff to the properties. if buyers get the properties cheap and so much work got to be done, who benefits? (the City, and I don't mean the citizens)

@dabullzfan25 7 жыл бұрын

hollymatterson I live in NJ. Not too much difference between where I live and Detroit. These tactics and knowledge can be applied to any mediocre to hole-in-the-wall location. But, most people don't intentionally buy in crappy areas. There is usually some sucker-born-every-minute twist in the mix or real estate redevelopment type thing.

@kangaroojack6273 7 жыл бұрын

-This is the definition of a Nightmarem (Jesus, thanks for sharing) *Remember; a Smart-man learns from his mistakes ~ a Wise-man learns from others mistakes.

@andrereyes917 7 жыл бұрын

Minority Mindset hey wusup buddy

@harrisonbooth6129 7 жыл бұрын

Videos like this are priceless. None of these "real world" problems your discussing are on any college exam. You have a great channel.

@94nolo 6 жыл бұрын

What's amazing is this is the only way a lot of guys like me can learn this information.... aka real world examples and experiences.

@illuminatedperspectives2894 5 жыл бұрын

BUT ITS COMMON SENSE TO HAVE ANY BUSINESS AGREEMENT ON PAPER

@sunskyriver 5 жыл бұрын

Didn't realize you were on KZfaq to study for your college exams. You sound stupid, but I get what you're trying to say.

@illuminatedperspectives2894 5 жыл бұрын

@@sunskyriver Why wouldnt he use a world wide media source of knowledge like youtube to study for an exam? Schools have been using youtube for educational purposes for over a decade now.

@illuminatedperspectives2894 5 жыл бұрын

@@sunskyriver You're behind the times. catch up, This isnt 1982 anymore. We have E-books now

@rauda3070 7 жыл бұрын

1. Hire an inspector 2. Hire a licensed contractor 3. Invest into the property 4. Don't leave lock box out in public view 5. Have a secure security deposit in case of any problems with tenant's rent income Thanks bro

@DaveWard-xc7vd 4 жыл бұрын

0. Don't buy property in Detroit.

@Arroyoruiz 4 жыл бұрын

And number 6. Don’t buy an investment property in Detroit!!

@Realg401 4 жыл бұрын

I’d buy one for a long term investment has to be professionally inspected head to toe

@duanebenjamin1617 4 жыл бұрын

@@DaveWard-xc7vd really it that bad

@kevindudson2344 4 жыл бұрын

3.5 make sure you've got an attorney reviewed contract with the contracter you hire to fix up the property.

@ferndog1461 5 жыл бұрын

This is REAL business, 101. I'm impressed with your honesty.

@dard4642 4 жыл бұрын

Before I ever owned properties, I would have heard a story like this and been positive I would never get myself into that type of situation. Now that I own properties, I have learned how easily it is to find yourself right in the middle of this type of predicaments. Never take for granted good contractors and good tenants.

@UltimateBargains 7 жыл бұрын

Never ask an insurance salesman if you need more insurance. You will always know his answer before you ask. Likewise, never ask a general contractor who found the property if it is a good deal for you to buy it and to hire him to repair it.

@MinorityMindset 7 жыл бұрын

You got that right!!

@eitkoml 7 жыл бұрын

That and Detroit failed to adapt to changing conditions.

@jay-rus4437 7 жыл бұрын

UltimateBargains .... This is "nearly" always a correct conclusion, but not entirely accurate. There are a few honest business men still around. I am a contractor, have a real estate investment background, and offer my clients honest and accurate advice. To the point i have absolutely advised a client NOT to make a particular purchase because it was not in HIS best interests. It could have been a lot of work for me, but that doesnt mean its what is best for my clients. I am WAY more concerned about long term business relationships and my reputation than i am about a quick dollar. Because of this i have a good solid client base that trust the advice i offer. These are out of state clients that count on me to be their eyes when they cant be here. Is that risky for them? Yes....and that is why trust between us has become the most valuable transaction.

@ObscureManifesto 5 жыл бұрын

My dad asked an insurance sales lady where to invest his money. Guess what her answer was? WHOLE LIFE INSURANCE. TOTAL WASTE OF MONEY.

@JohnDoe-gc1kt 5 жыл бұрын

@@ObscureManifesto whole life insurance isn't an investment vehicle for people who have money idk why she wouldn't have told him an annuity. She was either a shitty person or uninformed.

@amarbanwait7166 7 жыл бұрын

This video should be called A series of unfortunate real estate events

@XffTheGrid411 5 жыл бұрын

LMAO!

@leilanidru7506 5 жыл бұрын

That’s funny😂....the joke, not the fact that it happened to jaspreet....that part’s sad😔

@DJSHaKa 4 жыл бұрын

That is how you learn, he was just a college grad learning the ropes. A seasoned pro (which he will become one day) would have avoided most of these.

@Ay-B 4 жыл бұрын

One-third of the way through and my anxiety is so high! It's not even my property/problem!

@ranveersanghu3010 3 жыл бұрын

😁 same here and i dont live in America!!!

@MadMaxMFP-dc6kw 4 жыл бұрын

Never, never ever use an inspector recommended by the real estate agents, I've been burned twice.The inspectors will okay everything just to get the house sold/bought.

@zedzed5276 3 жыл бұрын

As long as they are licensed, you should be fine. Go back and say the inspector missed it, so they are liable.

@Ty-qx9fk 3 жыл бұрын

Yep, never ever. Speaking from experience. Also don’t let them be onsite with your inspector the day of inspection.

@NadyaPena-01 3 жыл бұрын

agreed. I got burned on my first home purchase because of bad inspection.

@slothypunk 3 жыл бұрын

I guess I am lucky so far then. My agent recommend me a house inspector and the inspector recommend a lot of things to be fixed!

@jasonwilkins1969 3 жыл бұрын

I disagree with this. The real estate inspectors we hire were very clear about advising Us. In fact, they went above and beyond what was actually legal for them to do. To protect us from buying a really bad property, our inspector called our realtor in the other room to tell him to tell us not to buy it because the inspector couldn't directly tell us that.

@hallmonitor98 7 жыл бұрын

permits for smoke detectors and painting windows? That sounds like corruption

@dickyboi4956 6 жыл бұрын

hallmonitor98 I think you mean "regulations"

@josephanthonyharrisiii6091 5 жыл бұрын

Bad luck and good ol' Detroit public corruption.

@sunskyriver 5 жыл бұрын

The founding fathers would be so pissed if they heard you had to pay a tax to do your own work. This country is a fucjing joke

@jaredmoone8741 5 жыл бұрын

That's why I always ask for these so called 'inspectors' to put everything into writing, time, date, what needs to be done, date required, date for next inspection and sign it. That way if something goes south, you at least have a bit of protection and something to show the court/government agency.

@miballs65 5 жыл бұрын

Corruption? In Detroit? 😂

@spamfree1820 7 жыл бұрын

I like this guy! Authentic true hustler

@spamfree1820 7 жыл бұрын

Two videos in instant subscribe

@ghackney9549 4 жыл бұрын

Looks like he got hustled to me.

@robinsonsegura9744 3 жыл бұрын

me2

@jayc4715 5 жыл бұрын

Never pay contractor before they do work

@Therealsarahtonin_ 5 жыл бұрын

jay c exactly!!!!

@justmyopinion9883 5 жыл бұрын

Great advice. After they get the money, there is no incentive to do the work.

@Spahi77 4 жыл бұрын

Dont hire shitty contractors....guarantee this guy he hired was piss cheap...was bound to happen.

@utah20gflyer76 4 жыл бұрын

I used to be a licensed contractor, I would require 25 to 50 percent down before starting work. I would never start a job without some money down because that would require me to trust the owner 100 percent to pay me. If you don't get money up front you are taking on too much credit risk as a business owner in my opinion. There aren't a lot of businesses that will essentially give you 50k up front on your word you will pay them later, not sure why people think that is reasonable in the construction industry.

@bigsean131 4 жыл бұрын

Man U hire ME- Im the PropMan property manager... 1/3 of payment to contractors once on site and work begins ILL PAY FOR MATERIALS BUT IM ON SITE WHEN THEY ARRIVE EVERYTHING IN PHASES

@faqu529 4 жыл бұрын

Failure is the greatest teacher💪🏾

@KrisKrohn 6 жыл бұрын

Holy Moly! Crazy story. Thanks for going into so much detail. A lot of valuable lessons learned and shared.

@silverltc2729 5 жыл бұрын

Can we hear your worst story Kris?

@osmanmohiuddin1 3 жыл бұрын

Hey Kris you should do one like this to share with us your worst lessons learned!

@rgsander1 7 жыл бұрын

As a landlord I feel your pain, and yes I have a nightmare property too

@MotivationMindsetU 6 жыл бұрын

the city was just milking you because they're low on money. that would have drove me nuts.

@erichenderson557 4 жыл бұрын

Dude I literally just subscribed to this, and I could actually feel the pain you were going through trying to describe that home. But I promise I gathered much information out your woes! I really hate that it happened to you the way that it did but it was a learning experience for you as well as countless others that you have graciously took the time out to share with us all. Thank you sir for this informative testimony...

@DeadbeatSuperAffiliate 7 жыл бұрын

I can feel the pain in your voice when talking about this property. The one thing I've learned about working with people is that if you give anyone room to screw you over, chances are they will. Congrats on seeing it through to the end Jaspreet!

@ThomasFoolery8 6 жыл бұрын

Deadbeat Super Affiliate exactly. That’s been my experience as well. People call me cynical but I’m just a realist.

@convex7456 5 жыл бұрын

Yeah man. No honoe or respect in our society anymore. Well atleast its rare

@susanthomas7659 4 жыл бұрын

Priceless comment, if someone wants to screw us they will.

@bayoubuttlips 4 жыл бұрын

Deadbeat Super Affiliate I’ve been a landlord for quite a while I always live by the saying - ‘NO GOOD DEED GOES UNPUNISHED’!!All tenants think landlords are filthy rich!!

@Reikimakesmehappy 7 жыл бұрын

I am so glad I found your channel. I make decent money and am in my mid 30's with a son. I want to create a legacy.

@CoLabFactory 5 жыл бұрын

I had this, almost exact, same story happen to me in IL down by E St. Louis. The person that led me astray was a real estate agent friend who just wanted to make a commission. The inspector I hired worked for her. The guy that left me stranded and I had to evict let his dog run in the house for at least a month and there was crap on everything including all the furniture he left inside. And they stole my water heater and all the copper pipe in the basement by turning the water off at the street. And all the contractors I hired kept making things worse. I ended up watching KZfaq and fixed things on my own. I never recovered from the torture of that property. I eventually had to do a short sale because I got so deep in it and every tenant I brought in found a way to not pay the rent. I later found out the cops were surveying the place for drug activity. And the city of Belleville, kept finding ways to add fees and taxes until it was impossible to own. Very tough to watch ur video. But thanks for sharing. Keep it up.

@Funfoods 3 жыл бұрын

I learned a great deal in this video. Thanks for sharing. Sorry you had to deal with such a headache.

@rl95719 7 жыл бұрын

Omg what a nightmare. The cement 😱

@feliciacharles4184 7 жыл бұрын

Thanks for sharing your experience. Glad to see you didn't let this deter/defeat you. You overcame cause you keep positive and stay hustlin

@MinorityMindset 7 жыл бұрын

+Felicia Charles Thank you!! Always :)

@lifechoices4749 5 жыл бұрын

Sikhs are like that, they are very peaceful people.

@ronwhiteleo3352 5 жыл бұрын

Wow, you shared the very reasons why I will never be a landlord... thanks man, this advice is worth a lot...

@SikhTranslations 5 жыл бұрын

My mother is a real estate agent and I've heard so many stories like this. The tips you gave on getting your own contractors and legal contract is so true.

@tankmachine1233 7 жыл бұрын

Daaaaam your nice, People taking anvantage of your kindness.

@MrMont101 6 жыл бұрын

You my Friend, are the epitome of "The American Dream". Salute 👏

@mvpmickey1 4 жыл бұрын

Seems like those property inspector are actually friends with each other earning extra cash with all the renovation.

@jacobschultz5495 7 жыл бұрын

Shows the government at its best

@jonathanskogebo728 7 жыл бұрын

Jake Schultz what 😂

@mflare600 7 жыл бұрын

Government is a waste

@olskoolnewpaint 7 жыл бұрын

Especially Detroit. City of corruption.

@matthewrehkemper128 6 жыл бұрын

And I thought my city inspectors were bad .Mine were so bad I had to bring in lawyers just to get electrical inspection Approved

@robertmcgee141 6 жыл бұрын

Jake Schultz liberal democrat government for sure.

@prodby511 7 жыл бұрын

I know this is off topic but that jacket is 🔥🔥🔥

@user-ei3ow8ic4z 6 жыл бұрын

Dion Knox lmao but true

@user-ei3ow8ic4z 6 жыл бұрын

Dion Knox it looks so good on him lmap

@omarlyons500 4 жыл бұрын

Yes, I have had similar situations. I admire your tenacity and persistence. I'd rather just own reits. Keep up the good work, my brother. You are making a difference and your work is highly appreciated. Thank YOU!

@adonnisalexander7388 4 жыл бұрын

This has to be hands down one of your best videos. I really appreciated how honest and vulnerable it was. Like not to hate on your newer videos (because I watch them like everyday) but this one speakers 100x louder because there was so much to learn and no hype music/comedy to distract the audience. Definitely would love to see more like this

@chriscj71 7 жыл бұрын

I feel stressed for you man 😅. Thank you so much for sharing! It means the 🌎 to be exposed to this level of knowledge and experience

@kebman 7 жыл бұрын

Even here in Norway (yeah, in Europe, not USA), Detroit is *infamous* for being the worst place to invest in property. Thanks for this video, though. Did you know Warren Buffetts company is named after his worst investment? Yeah, it's to remind him to never do so poorly again.

@GN-cj5we 4 жыл бұрын

You are a Saint ! Thank you for posting this !

@ShawwwHa 3 жыл бұрын

My wallet hurt after watching this and it didn't cost me a dime. I can't imagine what Jasprit must have felt like.

@JusdoinstuF 7 жыл бұрын

Grit and persistence are essential to success at any level. Nice job sticking through it. Talking about the lessons you learned from a struggle period in your life was a great video idea, you should do more like these lol.

@FirstPerryBoy 7 жыл бұрын

Got very similar situation in UK. Bought property without really checking it. At the time I was on a roll. And thought I couldn't go wrong. I bought it with so many issues. One of them, it Had a protected tenant so I could've even get rid of the property for years and has cost me 1000's. Finally selling it now at a loss. Man it sucks, but learned a lot.

@jatinlalwani8355 4 жыл бұрын

Well, That experience earned you a subscriber today! :)

@justinrobertson5516 5 жыл бұрын

Thank u jaspreet! Wish I could hug u man because for so often in investing people only show the good side with the yachts and cars but don’t talk about the failures which I love thank u

@colabare 7 жыл бұрын

man I love this guy already!!! and I'm a Detroiter.... I knew this was a Detroit house from the thumb nail!!!

@decentralizedplanet482 7 жыл бұрын

colabare I said the same thing!

@ghostly836 6 жыл бұрын

I'm from Michigan and I could tell instantly that this house was local.

@lanecianowell4158 6 жыл бұрын

Ditto! Now Keep Hustlin!

@Rarasrevenge 6 жыл бұрын

Hahahaha yup

@nibabi 6 жыл бұрын

I recognized it as Detroit too!

@dre7370 4 жыл бұрын

Yeah, when my father threw me out the house I was forced to drop out of H.S. in order to have a place to stay, that was my 1st worst decision. I HAD to be a follower cause I was too uneducated to have a minority mindset. And I'm STILL in the same situation, but as long as I'm alive I'm going to continue to try to achieve my goal of independentcy. Thanks for your video's it is VERY uplifting to help me see what happens when you DON'T give up 👍🏾

@btsmith 3 жыл бұрын

Man, very hard lessons learned when you naturally have a big heart, and especially when running a business. But it is necessary.

@MUSICAL_SMILE_GUY 4 жыл бұрын

DUDE!! Super informational, and super inspiring. Thank you

@decentralizedplanet482 7 жыл бұрын

Shady contractors, crapy tenants, illegal baby sitting operations...thats Detroit for you. Invest in higher dollar properties only in this city. Awesome vids thank you!

@franklubin570 4 жыл бұрын

One of the best videos in Real Estate investing

@marktirabassi7160 3 жыл бұрын

Hi my names mark . I'm 56 years old. Never owned property n always rented so my money's wasted. I'm starting over , I've watched your videos so far and am gonna do better now. I like this video so I can learn how to buy a place sum day . Your truly a hero n one cool dude . Thank for being here .

@OvidianHEX_ 4 жыл бұрын

Brooo dam this is an eye opener. You are a tough man, to withstand all the bs.

@obsoleteprofessor2034 6 жыл бұрын

Don't feel bad.. on second thought I hope you feel horrible and never do it again! My dad and others have "traded" repairs for rent... not one came out well. He had a guy stay for 3 months and when dad finally got around to evicting him, the guy called the inspector and health department and complained that he was living in substandard housing. Another deal.. dad sold some bare land that he bought for 16k and sold it for 300k w/50k down owner carry at 10%/15 years at the peak prior to the 2008 fall. I told dad to sell the note and run. Dad got greedy and said he was going to make "un chingo de pesos"(actually dollars but he thinks all money is pesos) so he held onto the paper. 2 years later the economy dumped and the guy defaulted. I owned the property next door so it was convenient to park my dumpsters on (formerly) dad's property. Once dad served papers, the guy called the cops on me to move my dumpsters! Dad said "Well..I guess the guy's only human". Dad repossessed the property and then couldn't sell it for jack! Our economy got so bad even the prostitutes in town dropped their prices. Years later..(6 months ago) the guy came all smiles and wanted to borrow a huge sum from dad. He offered him some farmland as collateral. Dad jumped on it and the guy immediately took off to Mexico. It turned out that the farm lost its water rights and it was basically worthless. I guess dad can go into solar farming. What pisses me off is that we're suppose to be the smart ones yet a tenant can throw his tennis shoes into the bedroom and he is suddenly in control of OUR MONEY!!!!

@prospectla6316 7 жыл бұрын

So what were the final numbers in terms of all in cost versus how much you sold the property? Thanks for the vid!!!

@tamarmcginnis8610 3 жыл бұрын

If you would have hired a realtor you would not have had so many problems, but since you are a realtor yourself, you took short cuts this is a good lesson. That if we get our license to do our own deals, be a good realtor, not just an investor. Glad you came back and did not give up. Thanks for sharing because most videos only share success. Appreciate this, really!!!

@realtyhaven 3 жыл бұрын

What a freaking nightmare Jaspreet! I am a Landlord too and I have had my share of nightmares. But not to this level. Man, am I grateful. BTW I would have sold it as is after 4 months.

@BrokenAbucus 4 жыл бұрын

"There is crime in Detroit." ~ Jaspreet

@haiminh4263 3 жыл бұрын

LOL

@MrNemitri 3 жыл бұрын

I guess why building Robocop in Detroit makes sense

@redbugbluebug 3 жыл бұрын

Man, every single video you have till now are so potent and informative that I had to creat a folder and call it "watch again". Thanks bro!!

@route66readymix45 5 жыл бұрын

😱😱😱......I would die. This is terrible. You have s fantastic message. Investors can definitely learn from this. 👍🏽

@al1384 3 жыл бұрын

Thank you for being honest and talking about your past mistakes. Shows nothing but bravery and self confidence .

@ianbernardoful 7 жыл бұрын

Wow man even really smart people make mistakes. I just bought my first property and I'm doing the work all myself. Contractors are too expensive

@claudioccornejo 6 жыл бұрын

ianbernardoful tell is how it went

@mauroantelo288 6 жыл бұрын

how did that go for you man?

@LaDeeDah 6 жыл бұрын

Did you pay it outright?

@calmerchbeats 6 жыл бұрын

????

@eclpzlvr97 6 жыл бұрын

You're supposed to buy the property at a price where hiring contractors isn't too expensive. It's the repairs and CapEx part of your due diligence.

@vazaruspaytonas7017 5 жыл бұрын

I'm staying far from real estate. I can't. My children and wife are enough management for me. I gotta diversify in something else lol.

@slothypunk 3 жыл бұрын

Your wife needs to be managed? Dang I feel sorry for you mane, you are married to a girl than a woman there! I know girl is fun, but that is what you need to pay for fun girl! You need to manage your wife, and you kid now rather than have your wife stand beside you building up the future!

@Kabala285 4 жыл бұрын

OMG! That’s horrible but, thanks for your candor on such a painful event. I’ve had my share of problems including letting an X girlfriend live in the property without all her financial info or a credit check-you know how that turned out-she paid for 6 months and left me with the bill. Literally, I also co-signed for a friend on a loan who did something stupid and lost his job-which stuck me with his loan. Both of these things happened at the same time and forced me ultimately into bankruptcy. Like your examples, you gotta do your homework and protect yourself which i was to naive to do back then. There are no friends in business and anyone trying to be your friend is trying to screw you! No collateral, no loan. No checking of merchandise or property by professionals, no deal! Be careful out there!

@sshizas6986 3 жыл бұрын

Wow. You went through the wringer. Glad you got through it. Thank you for sharing your story.

@investorwayne 6 жыл бұрын

man thats a scary story worth telling at a camp fire!!

@cleanasdirt6832 5 жыл бұрын

Cutting corners, in the end, costs more.🇨🇦

@qleap99 3 жыл бұрын

This is the most _real_ KZfaq financial video I've ever seen. Much more impactful compared to anecdotal stories given while on a set. It gives people hope and belief by showing them a slice of real life, that it may not be all roses and rainbows and if you can encounter and get through things like this, they can also. Thank you for your honesty and this video.

@shgarrett624 4 жыл бұрын

I'm so sorry that happened to you... Thank you so much for sharing your story, and staying positive and motivated...You are a gem.

@ggg-mu9cu 7 жыл бұрын

One of your best videos yet! Id love for you to do more real estate videos thanks for the video and keep hustlin

@bslorbust 4 жыл бұрын

" Finally get a tenant. Wooooo" I felt that.

@R_manatee 6 жыл бұрын

Thanks for being real. Congrats on getting through that. I’ve had a nightmare tenant but it’s nothing compared to what you went through.

@khurrampiracha23 4 жыл бұрын

Just found your channel Jaspreet. I am from Punjab as well but from Pakistan. I live in Dallas TX. I will now religiously watch your video since they are authentic and you spend so much time to explain for us to understand properly. Thank you and God bless.

@FroggyFrog9000 6 жыл бұрын

Damn. I guess Detroit is not a bargain after all!

@aram.v 6 жыл бұрын

Froggy Frog 9000 it’s not Detroit, it was his fault for not doing his due diligence. I have property in Detroit and none of this happened to me.

@dlt074 6 жыл бұрын

No, he was getting a shake down from the organized crime syndicate that runs the city.

@backwoodsoutlaw5977 6 жыл бұрын

Froggy Frog 9000 😂😂😂

@will201084 6 жыл бұрын

Better off burning it

@david94134 5 жыл бұрын

Froggy Frog 9000, Detroit is cheap for a reason. What a PS City.

@FatalDsyr 7 жыл бұрын

Learn and read about REITS there better investments than buying physical property in my opinion

@BradfordStevensTheoneandonly 5 жыл бұрын

Man, oh man, sorry to hear all of that happened to you. Thanks for the advice! Love the videos, keep striving for greatness!!!

@DnG100 6 жыл бұрын

Thank you for sharing. I know everyone has been burned at some point when making deals. It has happened to me and it cost me almost 10k. Like you, it was a contractor who was looking for easy bait. It’s all a learning experience. flipping and renting property is so draining! You definitely have to have thick skin, patience, and diligence. It does get easier once you learn how to handle every situation that comes up but man!!!! You feel like throwing in the towel but once you settle in, all that hard work pays off.

@chuyvapes5551 4 жыл бұрын

The biggest mistake he didn’t mention was NEVER buy in Detroit!

@MrBigtime1986 3 жыл бұрын

So many people from the suburbs come to detroit and think they'll be millionaires. its the funniest thing

@robinsonsegura9744 3 жыл бұрын

TRUE

@gwynmelenat2213 7 жыл бұрын

biggest mistake: detroit

@ErickaWilliamsCC 4 жыл бұрын

its billions of dollars being poured into the city you gotta see it with your own eyes. I got 10 rentals there and I live in austin texas. Plus majority of investors from new york, brazil, europe and canada.

@alphonsomack2795 4 жыл бұрын

Ericka Williams Agreed. I have properties there myself and live out of state. Do you use a property manager or manage them yourself?

@adartabib6616 3 жыл бұрын

Thank you for coming out and sharing your story

@errinku 3 жыл бұрын

I felt the pain behind some lines....That was almost heartbreaking for this guy

@philpaule472 4 жыл бұрын

Never in my wildest dreams would I want to own anything in Detroit

@knock_knock3007 4 жыл бұрын

This man is fire and extremely motivational. Thank you for the wise and inspiring words and story!

@Brandon-xp1ob 4 жыл бұрын

Sorry to hear that happened. But the second best thing you can do is learn from your own mistakes and the best is to learn from other peoples mistakes so thanks for sharing. I'm looking into buying investment property condominium and I'll definitely heed your words. I worked in property mgmt and I always saw other people getting screwed by their contractors and real estate agents that would tell them what they want to hear. DONT TAKE THEIR WORD FOR IT PEOPLE. And unfortunately a lot of contractors only care about getting paid. Thank you Jaspreet for all that you do, I always look forward to your videos. Cheers!

@williamburkhead629 4 жыл бұрын

Excellent video. Amazing that you didn’t quit. I’ve had similar experiences. Thank you.

@colthenrie1631 5 жыл бұрын

War stories like this is where I learn the most. Thank you for being real and honest! A subscribe and like from me.

@mt.doomer6645 7 жыл бұрын

lol, don't need to watch anything after hearing Detroit.

@metamorph20 19 күн бұрын

Oh man I had one of these. These stories usually start with I trusted a contractor and didn't get an inspection. Super entertaining thanks.

@lovellesg6790 4 жыл бұрын

happened to me too! I sold it during covid and in regret it now. bc of the bad experience I automatically assumed things would go bad....but in retrospect things were fine. I was just emotionally exhausted. lots of lessons!

@relaxedmind2474 6 жыл бұрын

Man they was messing with you. People rent without inspections all the time in Detroit

@BeatSyncBytes 6 жыл бұрын

Businessman in college WTF I just used to watch movies in college

@ronaldlachance8390 4 жыл бұрын

Thanks for being so honest! Unfortunately this. Is what happens to trusting people . You wouldn’t do those things to anybody, so naturally in your head you don’t think anyone will do it to you. Lessons learned!

@jamiewittmeier8357 5 жыл бұрын

Oh my! That would definitely be a nightmare situation. Glad that you are over it now.

@RobKluck 5 жыл бұрын

Haha i knew this was detroit just from that outside and awning. Always glad to find someone local on YT

@relaxmeditatechill3323 7 жыл бұрын

thanks for sharing. Working on doing a deal in Detroit. Now I'm really going to make sure.......all my T's are crossed & all the eye's are dotted.

@drone1028 6 жыл бұрын

My mistake was buying my first home with a family who now refuse to make mortgage contributions. Refuse to sell, refuse to buy me out. When i filed a partition action, they filed a protection order to get me out of the house. 2 years, and $15000 in legal fees, and i still didn't see the judge as yet. Do your research before buying a property as a co owner. Have a contract in place, and make sure the other party can't stop a partition of the property.

@Wannakatana2112 3 жыл бұрын

"Hey what could go wrong?" LOL That's a LONG list. Business is business. Friends are friends. Family is family. Never mix them or at least without all the legal issues in writing.

@oz_jones 3 жыл бұрын

"You know we are related by blood and I would trust you with my life, but we are going to need this in writing."

@cashkidd19 7 жыл бұрын

Loved the video

@shesonyoutube 7 жыл бұрын

very useful advice

@famemobile5978 5 жыл бұрын

Best advice for any entrepreneur is at 17:00. Its like climbing a hill. If you leave before reaching the top you won't see the good life. Good luck and thank you - Raft Capital, UK

@luisf7105 3 жыл бұрын

Jaspreet, I really appreciate your content candor... This is the type of thing that would make most folks just give up, kudos for sticking with it!👊🏾

@justinwilliam5693 5 жыл бұрын

Bro your videos are so "real" and authentic. Thanks for your dedication to help everybody become financially woke. Hoping to take your Climb Wealth Blueprint course. Keep Hustlin

@trollsymctroll5361 5 жыл бұрын

I would love to see the final true numbers on this project.

@complimentedb4575 5 жыл бұрын

Thanks so much for this info and thank you for being humble enough to share it with others 💯

@Marsha_Ann 5 жыл бұрын

Why Jaspreet, sorry you had to go through all that! Sounds really frustrating. But thank you for sharing this so that those of us watching don't make the same mistakes u did!