My Flip is NOT Selling! - Help!

[Ind Kon]

I wanted to post this to see if anybody gave me some ideas on what to do to overcome this challenge.

So I bought a house from a wholesaler that needed rehab last Feb, I went through the whole full rehab, the rehab was not easy at all, as I had the misfortune of dealing with two very bad contractors who blew my budget and took way too long to finish the project.

Anyway, I have with one of those 6 month hard money loans and it will be up in the next couple of month. I am completely out of time and now this thing is in the market but it is NOT moving. I have not had any showings and it is listed at the same price ARV that the appraiser gave me when I first acquired it.

I am utterly desperate for a solution, as it's been on the market for 2 weeks almost, and there is simply no interest. The realtor has held an Open House, we've dropped the price twice already, in the description we say that we are super motivated, so people know I am negotiable but still nothing! There is a house that sold nearby, NOT updated, for almost the same square footage that I am selling mine, and mine is fully updated. Theirs has 1 less bed and 1 less bath and those people were under contract in no time.

At this point, at the price that I am at, I am only making just a little bit, which is so depressing because the rehab was so incredible hard, and for buyers not to show any interest, I am in disbelief.

Anybody has gone through a similar situation? How did you get yourself out that mess?

Any ideas in general are very much appreciated.

Thanks for reading.

[Guy Gimenez]

@Ind Kon

Something is missing from this equation. A rehabbed house not selling for at least what the non-rehabbed house with fewer beds and baths sold for? No offense, but you're leaving something very important out of this scenario.

The market didn't change that dramatically in 90 days so if you're not getting any showings, you better revisit the price. Keep in mind that the only person who cares whether you're making a lot of money, a little money or taking a hit...is you.  You should have a broker open house with food and perhaps some prizes, but to win, each agent/broker MUST give you written feedback on why they believe the house isn't selling.  It's really hard to offer advise without photos and details on market conditions.

Is the property staged?