House In Kansas City Missouri

[Itay Heled]

Dear Bigger Pocket members!

would love to get your feedback and suggestions regarding a house I am trying to sell unsuccessfully  since October 2015 in Harrison street Kansas City Missouri.

here is a  brief summery..

I purchase the house On May 8, 2015 for a flip. A local real estate agent "sell" it to me as a great opportunity in an "up and coming area". turn out to be a horrible deal. ARV he stated was

inflated ,house was over priced , in a much worse condition than reported & in a problematic location (including a next door neighbor with a yard that is a complete junk ,hence  scares away a lot of potential buyers before they even enter the house. ) 

just to add more to the fun, this great  real estate agent and contractor defrauded me and use  rehab funds I sent for other projects.. the ultimate flip nightmare... 

Anyway, now I am in a control damage state, trying to minimize the damage and loss.

 I  invest a lot into the rehab - new floors, new windows new kitchen  with stainless steels appliances- new bath,  full rehab. 

On  February, after very little interest and  limited  number of showing I replace the  listing agent and  hire Reece Nichols agent to list it.  their marketing was pretty effective and I got about 20 showing in two weeks. but still  no offers. last week,  I reduce the price by $5000 and offer a bonus to buyer agent.  still no offers.. 

My question is this: 

Other than reducing the price even more, is there anything else I can do to promote and close this deal? 

Thanks so much for reading this , and would love to get your advise.  

To get a better sense  of the house you can look at the listing in  link below:

http://tracyksearles.reecenichols.com/homes-for-sa...

MLS# 1976950

[Itay Heled]

Dan,

Yes, renting is always an option but last resort in my case:

As a Canadian refinancing of the property is limited - best case scenario I can get 65% LTV with pretty high rate. this means a lot of my money will be "buried" in the property. my understanding rent I can get is around $1100/1200 so not so great in terms of cash flow. add the fact I am far away which means extra costs in property management and often repairs of such old house will be higher. so bottom line selling still seems the best option unless price I can get really sucks.