Exit Strategies When Selling A Bad Flip

[Robert Herrick]

Hi everyone, I have a SFR flip right now that is simply not selling. I have a hard money loan on this place and it is maturing soon.

My partner and I can keep lowering the price but we are already set to lose a Lot of money on it. I was thinking I could cash out refinance and short term rent it. The numbers for that look a bit better but ultimately not that great at all. Do any of you have any ideas for other ways to get out of the hard money loan on this property?

Please let me know!

[Nathan Gesner]

Quote from @Robert Herrick:

If your other flip is successful, you could use the cash from that sale to dig yourself out of the hole on this one. I would focus your energy on that flip.