In 2020, entrepreneur and television personality Bethenny Frankel put that principle to the test when she bought a 1945 Colonial-style home in Greenwich, Connecticut. Rather than simply reselling the property, she reworked its interiors, updated key features and gave the house a lighter, more contemporary appearance. The investment paid off when the renovated home sold in 2021 for about $3.3 million, roughly $1.2 million above the purchase price.
The sale reflected Frankel’s interest in buying homes with potential, improving them, and reselling them at a higher price. However, the difference between the purchase and sale prices represents a gross increase, not her final profit, because renovation expenses, taxes, transaction fees and other costs must also be considered.
