Episode 246 - Chad Rocke’s Real Estate Flip Journey: Key Lessons on Budgeting, Permits, and Project Management

Chad Rocke’s Real Estate Flip Journey: Key Lessons on Budgeting, Permits, and Project Management    Are you considering flipping a house but unsure about the risks and rewards? In this episode Chad Rocke, the lead agent at The Five Team, returns to share his firsthand experience from a recent real estate flip. He discusses the challenges and key lessons learned, offering listeners valuable insights into the realities of house flipping.    Chad talks about the financing process, managing contractors, budgeting for unexpected expenses, and navigating difficult decisions like whether to pull permits. This episode is packed with practical advice that anyone in real estate or aspiring to flip houses can learn from. Tune in to hear about the lessons that Chad picked up through this process, and how these experiences shaped his approach to future investment opportunities.     PODCAST HIGHLIGHTS:   [03:45] Chad Rocke introduces his latest flip and how he got involved in the project.   [07:00] Chad reflects on past experiences and lessons learned from his earlier ventures.   [12:27] The choice of property in Evergreen and the challenges of flipping in remote locations.   [14:19] The importance of hiring trusted contractors and managing risk effectively during renovations.   [17:42]  Discussing financing strategies: the role of business credit and credit card stacking.   [20:35] Understanding the costs involved in flipping: from plumbing to electrical work.   [24:40] Decision-making behind property upgrades and keeping costs within budget.   [27:39] The challenges and risks of buying properties with issues like septic systems.   [33:30] The sale process: final steps to selling and the buyer"s reaction to the property.   [37:00] Financial breakdown: how the flip cost and timeline affected the final outcome.   [41:30] The best advice that shaped his real estate journey: take calculated risks, follow proven success strategies.       HOST   Craig Curelop      📸 Instagram: https://www.instagram.com/thefiguy      📘 Book: https://store.biggerpockets.com/products/the-house-hacking-strategy      🏘️ Buy Real Estate: https://bit.ly/3V3QDze         GUEST   Chad Rocke   📸 Instagram: https://www.instagram.com/rocketherealtor/