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Updated about 4 years ago on . Most recent reply

User Stats

11
Posts
1
Votes
John Schutt
  • Architect
  • Leawood, KS
1
Votes |
11
Posts

Covid Flip taken almost a year. Trying not to take a huge loss!

John Schutt
  • Architect
  • Leawood, KS
Posted

Purchased a property pre-Covid to flip. Took over a year to complete, and interest is killing me. House is on Market, getting showings, but no written offers. Just dropped the price $10K. 

House is priced at $539,950, and I need at least that to pay off the LOC I was using to pay for the flip. Considering converting LOC to mortgage and renting as rental values are $2500 - $3000.

Anyone have any other suggestions as to creative ways to re-finance? 

Any suggestions greatly appreciated.


John S.  

  • John Schutt
  • Loading replies...