Flippers - WWYD - What Would You Do?

[Jeff Brogan]

I will try to make a long story short.  

Got involved with a hard money lender, they were looking for investors in the Pittsburgh Area to flip homes.  The only work I would be doing is the money investment.  I decided to go ahead with it.  

Numbers:  118k to hard money lender, 30k to myself.  So i'm in about 148k. 

ARV: Was listed at 180k but no luck selling at that price point and was dropped down to 170k. I felt like this was a little high at the beginning of the deal and turns out I at least got that part right.

I ended up taking it off the market to decide my next step. Either FSBO or refinance and rent it out. Rent rates are up and down and anywhere from 1200-1500 a month in that same area. The inside of the house looks really good. The outside, especially the back yard is pretty lame. Nasty drop off and just never really has been taken care of.

So the question is what would you do?  

Option 1 - Try to refinance, pay the lender back, take your cut and try to rent it out and hope it cash flows? I suppose this would be the BRRR method

Option 2 - Post FSBO with a much lower price which helps recoup the cash by not having any realtor fees involved.

Option 3 - Something I haven't thought of yet!