Before and After Renovation Property #6 Condo

[Laura Verderber]

https://www.youtube.com/watch?v=2UCppyu7khM&feature=youtu.be

Condo I bought at a wholesale price. I thought the current tenants were paying. They weren't and we had to evict them. Took 3 months. The damage to the property was much, much worse than we realized. It was something we could not see until the tenants had removed all their stuff. So between the purchase price and the renovation costs, I ended up paying retail. I still will make a profit each month from rent, I just won't have a large amount of equity. You win some, you lose some. I have learned to be much more careful about estimating rehab costs.