Rehabbing & House Flipping
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback
Updated 8 months ago,
Stuck with a House for sale since November
Hello guys my name is Yosleys Boffill. I have been flipping houses for a year or so in the Midwest specially in Lousiville,KY. I was doing fine until I decided to go for a more expensive neighborhood and price range. We are selling this house in the Highlands ( good neighborhood) and we have been stuck with it since November. We have dropped the price a lot, we even have an appraisal for 20k over listing price, we have had 22 showings since the last decrease in price.....and nothing. Everyone finds the rooms too small or something that does not fit their family,etc.
I am at the point of breaking even but in a month I will be losing money because of the Hard Money lender payments. The agent has done everything for the marketing and open houses and social media....again people are coming every week. I will appreciate any idea from the most experienced investors on how to proceed on these cases to get out of this hole. I got 3 other flips going on but I will love to get out of this one. Thanks in advance.