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To give you some information on this luxury property, I bought it in 2019 for $525,000 and sell it for more than $800k after putting $80k into the renovation. With those numbers, we would’ve made over $100,000 net profit!
After renovating the house, it just wasn’t selling! We listed it for $850K, and after not receiving any offers for a good amount of time, we dropped the price and continued doing so until it got all the way down to $750K, and even then, we were only getting offers in the $730-$740K range. Why did this happen and what did I do with the house? I go over that in this video!
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