ARV was less than what we paid for our first property

[Nicole Stoddard]

So, my first lesson is . . . DON'T TRUST and DO VERIFY. We are into our first duplex for the investment cost of 2 or maybe 3 properties in the area because we believed the wholesaler (a reputable company, they are all over the map) who said it would appraise after $25,000 in renovations. In actuality it appraised for "less" than what we paid for it. Bummer Deal. Live and Learn