{"id":6198,"date":"2020-05-28T04:00:00","date_gmt":"2020-05-28T11:00:00","guid":{"rendered":"https:\/\/www.biggerpockets.com\/blog\/?p=125975"},"modified":"2020-05-28T04:00:00","modified_gmt":"2020-05-28T11:00:00","slug":"biggerpockets-podcast-384-losing-60k-on-his-first-2-flips-so-you-wont-have-to-with-spencer-cornelia","status":"publish","type":"post","link":"https:\/\/www.jerrybice.com\/wordpress\/biggerpockets-podcast-384-losing-60k-on-his-first-2-flips-so-you-wont-have-to-with-spencer-cornelia\/","title":{"rendered":"BiggerPockets Podcast 384: Losing $60k on His First 2 Flips so You Won&#8217;t Have To with Spencer Cornelia"},"content":{"rendered":"<p>You can put a dollar number on the losses Spencer Cornelia took on his first two long-distance flips&#8230; but it&#8217;s hard to quantify the value of the lessons he learned and is now passing on to you.<\/p>\n<p>We noticed Spencer&#8217;s thread detailing his struggles in the BiggerPockets forums and invited him on the show; he bravely accepted.<\/p>\n<p>In this episode, you&#8217;ll learn the pitfalls to watch out for when taking on heavy renovations (anywhere, but especially long-distance), how to ensure quality work is getting done, and the dangers of letting projects drag on when you&#8217;re locked into expensive short-term financing.<\/p>\n<p>Plus, it&#8217;s not a total downer&#8230; because Spencer&#8217;s seeing a bunch of success with his new Youtube venture, and plans to continue investing in (less aggressively leveraged) real estate projects.<\/p>\n<p>Brandon and David add their own perspectives having made some similar errors in their careers, and tomorrow in Part 2 they&#8217;ll break down the 10 Deadliest Mistakes Investors Make.<\/p>\n<p>New investors: heed the advice in these two shows! And as always: run your numbers conservatively, know your own risk tolerance, and run deals by trusted advisors before jumping in.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>You can put a dollar number on the losses Spencer Cornelia took on his first two long-distance flips&#8230; but it&#8217;s hard to quantify the value of the lessons he learned and is now passing on to you.<\/p>\n<p>We noticed Spencer&#8217;s thread detailing his struggles in &#8230;<\/p>\n","protected":false},"author":10,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mi_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0},"categories":[2301],"tags":[],"_links":{"self":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/6198"}],"collection":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/users\/10"}],"replies":[{"embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/comments?post=6198"}],"version-history":[{"count":2,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/6198\/revisions"}],"predecessor-version":[{"id":6199,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/posts\/6198\/revisions\/6199"}],"wp:attachment":[{"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/media?parent=6198"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/categories?post=6198"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.jerrybice.com\/wordpress\/wp-json\/wp\/v2\/tags?post=6198"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}