I'm on some distribution lists and regularly see "renegotiated price" on offerings because they can't unload them at the contract price + their fees.

That's $294,000 invested, plus six years of work and stress before they become profitable.I think it may be wiser to unload at a loss, wait for the market to bottom out, then try again with a property that produces positive income from the beginning.

@Doug PhillipsYou can get a discount at Lowe’s go to the contractor sales checkout it’s in the back of the store behind the lumber dept.

We have the good fortune of too much off market deal flow and not enough time to tackle all of the projects we wish we could. We hate to just toss these leads, but we don't have a system to offload them. Furthermore, ...

If anyone out there knows someone looking to unload any homes in that area, then I'd love to connect.  

Can't decifer if it's wholesalers who can't unload them at higher prices or what's going on.

A con would be that multifamilies are harder to unload should you decide you want to sell.  

He lost maybe 50K before he was able to unload the property!

@Stephen DiNanno I went with Lumber Liquidators for my most recent rehab, they have deals all the time with a huge selection to choose and the prices are really good.

They don’t realize that an investor or real estate broker who knows the true market value of the property may be taking advantage of them by actively misleading the homeowner as to the true market value.The problems arise when the investor or real estate broker:Drives down the property value in the seller’s mind by showing them comparable properties that aren’t really comparable.Talks to the homeowner about all of the deferred maintenance that the property needs (which may or may not be true).Allows the homeowner to leave items behind (What is that “convenience” worth - the costs of renting a dumpster, hiring two-three workers for a day to unload your house?