BiggerPockets

I'm not quite sure what route to take. A couple of years ago I purchased a home for investment purposes and spent over $40,000.00 in renovations. Now I need to liquidate the property Immediately. I know that 9/10 I wont break even, but I'm not looking to take a total loss. Any one have any suggestions on how I should go about doing this? Any help is greatly appreciated.

My apologies for the incomplete information provided in my initial post.

I need to sell immediately so that I can reinvest the money into my business to keep it up and running, as well as catch up on a few bills. I paid $32,000.00 for the property in cash and another $40,000.00 was spent on rehabing the property. I would like to get at least $65,000.00 for the home.The home is valued at $88,000.00. The property is owned outright although taxes in the amount of $2000.00 are due and a lien from the city cutting the grass in the amount of $1600.00. I am located in Jacksonville, Fl. I believe that the market is slowly picking up. I hope this helps you all better assist me. Thanks

When I say valued, It was appraised at $88,000.00 7 months ago. There aren't many comparable homes listed in the area but the few that are, are priced similarly. Are you thinking it's purely a price issue?

My apologies for the incomplete information provided in my initial post.

I need to sell immediately so that I can reinvest the money into my business to keep it up and running, as well as catch up on a few bills. I paid $32,000.00 for the property in cash and another $40,000.00 was spent on rehabing the property. I would like to get at least $65,000.00 for the home.The home is valued at $88,000.00. The property is owned outright although taxes in the amount of $2000.00 are due and a lien from the city cutting the grass in the amount of $1600.00. I am located in Jacksonville, Fl. I believe that the market is slowly picking up. I hope this helps you all better assist me. Thanks

If you really want to sell quickly (and will not consider a hard money loan), then price 2-5% below the bottom of the price range for your property. Assessed values do not necessarily reflect its current value (after all, it's worth what somebody is willing to pay for it). I know you dont want to lose your shirt, but it's hard to say that you'll break even. The best of luck.

Can you borrow against your equity in the property and possibly rent it out? Move in and sell your home? Take a loan against your home, car or other personal property to pay the deficiencies? Don't paint yourself into a corner on this one. There are lots of options other than "sell".

Best wishes.