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Updated about 8 years ago on . Most recent reply

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9
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Jathiyah L.
  • Buffalo, NY
0
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9
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First flip going very badly

Jathiyah L.
  • Buffalo, NY
Posted

This has been a nightmare from the beginning and very hard since it's my first flip and I am still in the midst of it. 

I've had this house since 9/2015. It was owner occupied (bought at foreclosure auction),  so couldn't get homeowners out until February of 2016. After finally getting work done, with contractors who we thought knew what they were doing, we had to pay to get a lot of things redone. 

Long story short we got a good offer a few weeks ago, only for the deal to fall through due to foundation and plumbing problems we were not aware of. Should we keep dumping money into this house to try to recoup, or just sell for bottom dollar, cut our losses and move on? 

Most Popular Reply

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674
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444
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Lee S.
  • Northern, CA
444
Votes |
674
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Lee S.
  • Northern, CA
Replied

should be a basic math and funds available question.  If you have the funds to fix the known issues can you sell for break even or better?  If yes then proceed.  

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