Advice Need on fire Damage Properties in Detroit

[Tenisha Walker]

First deal I actually accomplished was in Detroit Mi. Property has fire damage. It seems like no one wants to really do anything with this property. I need advice. Should I keep marketing or just cancel the contract? What would you do? So with this property if I had the funds I would actually rehab it myself but unfortunately I don't nor do I have the credit to back me up. The property is 2,210 sq feet it's a 2 story duplex and the neighborhood is about Gentrification. The ARV is $90,000 and my ask price is $18,000. I also have a contractor with a team who said they will rehab it and gut the first floor because that's really the main part that needs to be gutted to the studs and the labor with materials for the entire building is less than 15K in repairs. The foundation is solid. Idk if I should give up because like It seems like I can't find a true cash buyer. What would you do?

[Jeremy VanDelinder]

I flip fire-damaged properties and  own a fire damage restoration company. I'm sorry you are having trouble selling it. Fire damage is a niche that a lot of people will do--and for good reason, there can be much more than meets the eye. 

Whether you should continue to market or cancel the contract depends on your seller (are they willing to hold out with you?) and your options for further marketing (do you think you have exhausted all your networks or will continuing to market do any good?) Of course, the time comes on some deals to pull the plug--having a buyer is a necessary link in the chain if you are wholesaling. Keep your chin up and move on to the next one!