I Lost $100K in One Month
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The speaker's house buying company, Faster House, lost $100,000 in one month due to a market shift that caused interest rates to skyrocket and investors to flee. The company was left with 10-15 houses that they assumed they could sell at old prices, but the investors who remained wanted deep discounts. The company held onto their pride and didn't drop prices quickly enough, resulting in a loss of $108,090 for the month of November. The speaker believes that the loss could not have been avoided, but they should have ripped off the Band-Aid as soon as they saw the market shifting, which would have resulted in a loss of only $50,000.
The speaker's house buying company, Faster House, lost $100,000 in one month due to a market shift t