Bought for $325,000 956 square feet, $80,000 in renovations. railroad track through the back yard (just kidding, the back yard’s too small for a railroad track, it’s just past the fence 🙂 )
Guy’s a waiter, forgot what wife did.
Trying to sell for $479,000, just fell out of escrow, 137 days on market now.
$479,000 – $405,000 = $74,000. Take out the commissions of maybe 4% – 5% of maybe $20,000, gives $50,000 profit.
So far they have spent over $12,000 in carrying costs, so now they are down to $38,000 profit – all the other little costs they forgot about.
I’d call this a failure, but you don’t see that on TV:
