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Updated almost 4 years ago,
Covid Flip taken almost a year. Trying not to take a huge loss!
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.