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Updated over 1 year ago,
Selling a half flipped house?
Hey everyone, I'm new here and have been pouring over all the forums. Definitely wish I found BP about three years ago before I dug myself into a big hole. Long story short, I purchased a charming victorian in Buffalo, NY that has turned into a nightmare money pit. My intention in purchasing was to brrrr, but after a multitude of unexpected expenses (including an electrical fire) and a contractor that abandoned the job I am absolutely tapped out of funds. Most of the structural work on the home is finished, but all of the finish work needs to be completed as well as some electrical work that I'm not sure will pass inspection.
Should I just sell and take the loss? Are there options for having an outside investor finance the rehab and then split the profit if I sell or hold and rent?
If I do sell what is the best approach (e.g. through and agent or cash deal)? I'm feeling super lost right now and so many mixed emotions after three years of blood sweat and tears trying to get this place up and running. Any and all advice is appreciated.