Ep 579: Bailing Your Contractor Out Of Prison With Dan Haberkost

In this episode, returning guest Dan shares an interesting real estate story involving a deal he found on Craigslist. The deal featured a house with severe foundation issues, which he purchased at a favorable price due to its condition. Dan recounts the challenges he faced while working with a contractor who eventually got arrested, leading to Dan stepping in to bail him out to finish the project. Despite the obstacles, including repair mishaps and emotional hurdles, the property eventually turned into a successful rental investment. The conversation also highlights the importance of navigating human emotions and the unexpected problems that arise in business, particularly when working with contractors and employees.

Introduction & Reintroducing Dan (0:00 - 0:28)

Daniel welcomes back Dan, referencing his previous episode and teasing the breakdown of an interesting real estate deal.

The Craigslist Property & Foundation Issues (0:29 - 3:16)

Dan shares how he found the deal on Craigslist, detailing the severe foundation problems and the process of purchasing the house.

Contractor Problems & The Arrest (3:17 - 5:51)

Dan recounts the issues he encountered with his contractor, including the surprising moment when the contractor was arrested mid-project, leaving Dan to bail him out.

Completing the Project & Financial Outcome (5:52 - 6:59)

Despite the hiccups, Dan manages to complete the project and successfully rents out the property, discussing the rental income and mortgage details.

Business Challenges & Final Thoughts (7:00 - 9:33)

Dan and Daniel talk about the unpredictable emotional and personal challenges that come with being a business owner, and how dealing with people is often the hardest part of the job. Dan shares where listeners can find him online.

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