Article: The Money Pit
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The Money Pit
A dark legend in the world of real estate, the monster in the closet, the secret fear of all investors. Why do we do it?
Why do we pour time and money, blood, sweat and tears, into a home renovation when the house turns out to be the equivalent of a lemon on the car lot?
Maybe it's because Americans love a challenge. Maybe it's because we're uneducated about what we're getting ourselves into, and too proud to stop when we figure it out. Or maybe it's a secret emotional attachment to the roofs over our heads that leads us to take on these houses that just won't cooperate.
Some people are getting smart. In fact, there's a whole business devoted to those who want to weed out the lemons, and they're ruthless about it when they get going. Professio...
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