Long Renovation but Unexpectedly High AVR

[Delicia M.]

Investment Info:

Single-family residence buy & hold investment in Georgetown.

Purchase price: $20,000
Cash invested: $45,000

Lessons learned on renovation process but the AVR was worth it. Purchased at $20K but AVR was $180K.

What made you interested in investing in this type of deal?

Familiar neighborhood.

How did you find this deal and how did you negotiate it?

Drive by and contacted owner.

How did you finance this deal?

Cash

Lessons learned? Challenges?

The renovations took over one year. I should have received multiple contractor quotes and not use a handyman.