How long have you sat on a property while doing repairs?

The first home I bought that I intended to rent out and later decided to sell took me nearly 3 years to fully repair. Thankfully, it was still considered a livable space so my wife's cousin was staying there every summer and giving me some "rent" money for it. There was so much work that needed to be done that I couldn't afford it all and had to work on it here and there, taking a few months off in between.

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May 8, 2020 5:35 PM

Member

Roughly 2 years. Both properties were ready to be put on the market but I was waiting for the value to increase. Had I put them on the market when they were completed, I would have missed out on 30% of the total earnings I made.

May 11, 2020 10:06 PM

About 5 months. I work fast and don't typically buy homes that require a lot of work. I have only just started investing in such a thing 2 years ago however so I have only purchased and sold 3 homes.

May 16, 2020 12:39 AM

Member

4 years with one home. Most of the other ones it was maybe a year and a half tops. The reason the one home took 4 years was because of the issues that I kept running into with the property. The land was faulty and the foundation of the home needed to be replaced.

May 17, 2020 10:34 PM

Member

A year at most.

I'm an electrician by trade and have a few friends who can handle the plumbing, floors and walls, and so on. They get paid a good amount from the profits whilst I still make a pretty penny.

May 19, 2020 12:17 AM

Never. I don't buy to rent or resell. I just work with homeowners and homebuyers. I have had a couple that kept doing more repairs to their home to bring the price up. It was a process that lasted nearly 9 months. We joked when it finally sold that it was like giving birth.

May 20, 2020 11:18 PM

Member

We average about 4 months but the longest was maybe 8 months but this was down to weather issues and us traveling at the time. It still got done in a 4 month time frame just with a few month long breaks.

May 22, 2020 9:58 PM