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Updated almost 9 years ago on . Most recent reply

User Stats

43
Posts
8
Votes
Joshua Jarvis
  • Residential Real Estate Agent
  • Hoschton, GA
8
Votes |
43
Posts

What to do? Finish It or Cut the price?

Joshua Jarvis
  • Residential Real Estate Agent
  • Hoschton, GA
Posted

I've been wanting to write the "last 3 years of real estate flipping" blog post but I still have this one nagging property.   While I love investing I ran into a problem with an underperforming/overpromising contractor and I'm stuck. 

Not to bore you too much with my back story or personality but I want everyone I work with to feel valued and really want them to hold up their word.  I might even allow them a little "grace" in order to finish something. 

I messed up BIG TIME and just let something go on too long... 

That brings me to the question

Q:  What do I do?  Lower the price or fix up the home?

I have a home (3/2 ranch) with almost no curb appeal.  I'm wondering if it makes sense to spend the money on the curb appeal, the finishing touches in the home or just lower the price?

I know the short answer might be "both" but obviously I'm working on a budget. 

The question arises from that balance of profit vs time.  Does anyone have a good rule of thumb they use to determine when to cut a home and move on from a flip?

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