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Updated 11 months ago,

User Stats

21
Posts
5
Votes
Mario Martinez
  • Investor
  • Middletown, NY
5
Votes |
21
Posts

Fix And Flip Gone Wrong

Mario Martinez
  • Investor
  • Middletown, NY
Posted

HELLO BP FAMILY!

I COMPLETED MY SECOUND FIX AND FLIP FOUR MONTHS AGO, BUT AFTER NOT SELLING AFTER TWO MONTHS I DECIDED TO RENT. MY TENANT LOST THEIR JOB IN THE FIRST MONTH, AND I HAD TO EVICT THEM. I PURCHASED THE PROPETEY AT 125 AND INVESTED 50,000. MY BREAK EVEN POINT RIGHT NOW WILL BE 210 BUT I DO NOT THINK I CAN GET THAT. MOST COMPS NOW ARE COMING IN AT 180 WHICH WILL PUT ME IN THE HOLE ABOUT 30K. SHOULD I JUST TAKE THE LOST OR DOES ANYONE HAVE ANY OTHER RECOMMONDATIONS? I TRIED TO PITCH IT TO FRIENDS AND FAMILY TO BUY AND HOLD, BUT THE INTREST RATES ARE SCARYING OFF MANY POTENTIAL BUYERS. AT THIS POINT I JUST WANT TO GET RID OF THE HOME. HELP! IM USING HARD MONEY SO THOSE MONTHLY INTREST ONLY PAYMENTS ARE KILLING ME ASWELL 

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