Some Fixer-Uppers Are Not Good Buys.
You may be the sort of person who looks at a condo in need of significant work as "a challenge" and an opportunity to make money. Many people have bought fixer-uppers at below-market rates, invested a little sweat equity or more than a little money on renovation, and then eventually put it back on the market at a profit. But if your unit isn't priced low enough, you won't recoup your investment of time, trouble and expense. Before you proceed, do a careful evaluation of what you'll have to invest. Then, consult with your Realtor to learn what you can reasonably expect to earn when you put the unit back on the market. And be sure to consider the unexpected-there's no such thing as a sure thing.