cover of episode Losing Control Of A Million Dollar Deal | Nightmare Deals - Episode 21

Losing Control Of A Million Dollar Deal | Nightmare Deals - Episode 21

2024/11/26
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David Greene
从警察转变为房地产投资专家和畅销书作者，曾主持BiggerPockets房地产播客，现运营自己的播客和多个房地产相关企业。
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Sokha Ngov
Topics
Sokha Ngov讲述了她参与的一笔失败的房地产投资，这笔投资始于2023年3月，她与经验不足的合伙人合作翻新一处房产。她负责提供资金，合伙人负责施工和管理。然而，项目过程中出现了一系列问题，包括不诚实的承包商、缺乏必要的许可证、资金挪用等。这些问题导致项目严重延误和成本超支，最终房产难以出售，Sokha Ngov不得不长期出租该房产，并承担了巨大的财务损失。她反思了这次经历，强调了与合伙人合作的重要性，以及在进行房地产投资时应注意的风险。她建议投资者在签订合资协议前，应仔细审查合伙人的背景和经验，并确保有明确的继承计划，以避免类似的悲剧发生。 David Greene作为访谈主持人，引导Sokha Ngov讲述了这笔交易的始末，并表达了他对房地产投资领域中不诚实投资者的担忧。他强调了在房地产投资中谨慎选择合伙人的重要性，并提醒投资者要警惕那些夸大其词、缺乏经验的合伙人。他还分享了他对类似事件的看法，并呼吁投资者提高风险意识，避免落入陷阱。

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Sokha Ngov partnered with experienced flippers for a quick fix-and-flip deal, expecting passive income but faced numerous issues including contractor theft, shoddy materials, and partners mismanaging funds.
  • Partnership for a fix-and-flip deal with 50% profit split.
  • Contractor issues: theft, unreliable work, and lack of permits.
  • Partners mismanaged funds and used cheap materials.

Shownotes Transcript

What started off as “passive income” quickly became an absolute nightmare when today’s guest, Sokha Ngov, partnered with “experienced” flippers in exchange for 50% of the flip profits. Part of the “Nightmare Deals” series, today’s episode tells the horror story of a contractor taking money and not completing work, then used cheap, shoddy materials when they finally did. The JV partners involved in the deal stole money intended for the project and were forced off title through a lengthy legal process while staying in the house themselves. When the house wouldn’t sell post rehab, Sokha was forced to keep the property as a rental. Rather than lose money every month in a long term rental situation, Sokha even considered the short term rental route in a state that hates them and ultimately left $185,000 of hard earned savings in this nightmare. You’ll be shocked, appalled, and amazed at how many people took advantage of this investor in what should have been a straightforward flip. Make sure you download today’s show to learn how Sokha finally stabilized the property and got out from underneath the hell, as well as how you can avoid falling into a similar situation yourself on today’s episode of Real Talk Real Estate. Follow David: @DavidGreene DavidGreene24.com RealTalkRealEstate.com Podcast-The David Greene Show Spotify, Apple Podcasts Book a session with David: [email protected] Ask a Question: DavidGreene24.com/ask Find me on the “minnect” app Real Estate University: SpartanLeague.com Join my Free Newsletter: Davidgreene24.com/textletter Finance Your Real Estate TheOneBrokerage.com Intake@TheOneBrokerage @theonebrokerage Free Textletter DavidGreene24.com/join STR Management [email protected] Investor Retreat DavidGreene24.com/retreat