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Premium Bonus Episode – Ryan Pineda

Mistakes Beginners Make With House Flipping (with Ryan Pineda)

Though I’ve always preached about cash flow and passive income, make no mistake: I am NOT against house flipping! There is a legitimate reason for it and a much higher immediate return on investment. Join Ken McElroy and TikTok Star, Ryan Pineda, in a discussion about house flipping and the mistakes that Ryan made along the way. 

Ken McElroy:
So Ryan now, obviously the market’s hotter than hot inventory is low. And I know Vegas is no exception, um, in Vegas has done really, really well in spite of, you know, a lot of the casinos, not even really being open. I, I was just up there recently. Um, what do you, how do you feel about right now, you know, for we’re in may of 2021 and everybody’s wondering, okay, affordability’s getting crazy. And, uh, what do you see, you know, in, you know, in the next few months?

Ryan Pineda:
Man, that’s a good question. Cause, uh, during that whole COVID question, everyone’s like “Vegas is toast. They’re the first one to be toast,” and I’m sitting here, like “I sure hope not.” Cause uh, you know, it’s my place. So now you fast forward and it’s like, Vegas is a, um, it’s kind of like a hyperbole of what’s going on in the whole country. Like, it is absolutely insane how quick prices are going up. You know, I’m buying houses that two months ago I bought them thinking, okay, we’re going to sell this thing for 300 and it’s getting 340. I’m like, this is crazy. Um, I need to buy every house!

Ken McElroy:
Do you think that’s the California effect? Do you think?

Ryan Pineda:
100% without a doubt. Yeah. So we own a brokerage as well. We’ve got over a hundred agents. And so we look at all of the sales coming in the brokerage and we talk to our agents and stuff and the majority of buyers are always Cali. Um, so it to them, you know, it’s like, man, this is the cheapest house I’ve ever seen. So they don’t care! It’s that way with luxury, that way with entry level. Um, so I’m grateful for Cali cause they’re definitely helping us out.

Ken McElroy:
Yeah. Th that governor’s helping you out a lot.

Ryan Pineda:
I heard he got recalled. It’s going to be interesting.

Ken McElroy:
I know. Well, wow. I tell you what, uh, I, it’s been fun to watch you and it’s been fun to watch your social media, so, uh, congrats on all your success and, and uh, you know, we’re gonna, we’re gonna also do a podcast, uh, on your social media stuff and your academy next. So for those of you guys who want to hear a little bit more about Ryan and his success, uh, make sure that you jump over to that. So, uh, Ryan, thank you so much and congrats on everything you’ve done.

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