Trying to move forward from my first flip

[Lance Queen]

I’ve dreamed of being in real estate. When I was younger I worked in the trades and couldn’t seem to put the rIght deal or money together. So I got my real estate license in order to potentially surround my self with like minded people and learn about the business. Well needless less to say I floundered and ultimately ended up going inactive with my license. After swinging a hammer for 8 or 10 hours the last thing I wanted to do was go home cold call for leads. Also my broker was a prick :) .... Anyways fast forward 10 years and after running my own contracting jobs and doing other things I finally had the money and I didn’t need a partner or private money. I paid cash for my own little $15,000 dollar piece of the American dream. I was flying high and couldn’t wait to start my journey of becoming financially free through real estate. I thought that my knowledge of building would be a great strength and it is but you have to know how to manage that strength. I tore into the house with intentions of making it functional and livable (lipstick on a pig). However my first mistake. Making it livable to my standards. Second mistake. Over building. Third. Trying to fix every last detail in order to make it perfect to please my customer. I’m the customer and hate to admit it but like nice ascetically pleasing things. The good news is I was able to get everything done on the cheap wIth my contracting know how and sweat equity. Anyways I’ve got $20,000 of my money and $20,000 of bank money wrapped up. Im 6 months in and out of money and time. It stIll needs a roof, HVAC hooked up, and about $1,000 of odds and ends punch list things. My wife is about due with our first child and we are finishing renovations to our primary residence in the mean time. My flip house got kicked to the back burner quick. I went back to the bank like a whipped pup after running out of money for more. They are willing to give me more but made me get an appraisal to see what the as is valve would be ($66,000). A friend that is a realtor brought someone through to see it and they liked it but ended up being a low baller. For some reason I made the knee jerk reaction to list it with her ($65,000). My mind set was to just put it on as is and get what I can get and move on to the next. The ARV is $75,000 to $80,000. I wonder if I should take it all the way to the finish and borrow more money with little to no more reward or just see what happens on the mls. It’s going to take the right person to take it on. I’m nervous the thing will sit till next summer before I get an offer. I guess I’m kind of a smoldering dumpster fire of a real estate investor right now lol. Sticks and bricks aren’t everything you need to know in real estate. I’m just hungry to cash out and move on to the next as quick as possible. Any input would be cool. Thanks for reading.