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Updated almost 2 years ago on . Most recent reply

User Stats

39
Posts
18
Votes
Evan Holly
  • Rental Property Investor
  • New York, NY (nyc)
18
Votes |
39
Posts

First Flip - Getting offers! Need advice

Evan Holly
  • Rental Property Investor
  • New York, NY (nyc)
Posted

I just finished my first flip ever, and am so happy to be getting multiple offers! I've never actually sold a house on the MLS before, and am wondering if any experienced flippers could chime in on what they would take.

House is in Ohio. Purchased at 16.5k, rehabbed for 35k, and have a few thousand in holding when all said and done. All in I'm at 55k. We listed at 79k on Friday, and I've gotten 3 offers over asking so far.

1. 96k - FHA loan,

2. 95k - with inspection

3. 90k - no inspection

This flip was challenging due to contractors backing out, and while I believe everything is up to code, I have some doubts about their work. Considering the offer of $90k with no inspection, as my realtor warns a negative inspection report could hurt future prospects.  Would love some insight!

Most Popular Reply

User Stats

39
Posts
18
Votes
Evan Holly
  • Rental Property Investor
  • New York, NY (nyc)
18
Votes |
39
Posts
Evan Holly
  • Rental Property Investor
  • New York, NY (nyc)
Replied

@Rafael Castro thanks!  That seems so obvious now that you've said it, but it hadn't crossed my mind.  That's what I'll do : )

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