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Updated over 8 years ago on . Most recent reply
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14k vs 35k what would you do?
We are currently flipping 2 houses. After only 3 days of tearing out carpet and junk we were approached by a neighbor of one of these homes with a request to purchase the property as-is. We estimate a profit of around 30 to 35k after about 3 weeks of work assuming the furnace and AC are ok. We have not turned the power on yet to test these items (purchased at a foreclosure auction). I have a about 5k in materials that have not been installed and could still be returned. Would you walk away now with no risk and 14K in your pocket or would you keep it, finish the flip and go for the 30 to 35K and hope no surprises with the furnace and AC?
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I would take the 14k and run but why not counter the offer and ask for another 6k then it is a no brainer?