Before and After Renovation Property #6 Condo

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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.

Originally posted by @Katie House :

Wait,  you didn’t say Gulf Shores did you lol.  That’s just where my mind goes, thinking condo. 

 Oh, this is a condo in Mobile, near the University of South Alabama college. I should've mentioned that. As for contractors, I had some major drama with my previous regular one and had to switch 2 property renovations ago. That's why I haven't done videos on the other ones yet. I just didn't want to focus on it more than I had to. I like my current contractor though. He seems pretty honest. You just get quotes and recommendations and contracts and see if they work out. If they're slow and full of empty promises, you move onto the next guy.

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