Question for flippers

[Michael Gessner]

Are any of you backing out of deals ? Trying to decide on what to do with a property I'm in contract on and supposed to close soon. When I went into contract the numbers worked, but given the market conditions I'm expecting to see a decline in home prices fairly soon. Price point on this property after rehabbed is at 400k which is a good area to be in for my area. Picking the prooety up for 225k needs 40k worth of reno, going HML which has me concearned do to the costs of the loan, and those interest payments can deff eat away at my profits fairly quickly. Thank you for any input