Rental Property Investor · DFW · Member since 2016 · 20 posts · 17 votes
Hi, Ive been struggling to sell my property that I recently rehabbed. I bought it in Oct. And finished the rehab in the beginning of January. Winter time was slow but once spring hit I've had multiple people view the house but no offers.
I've been making my realtor push for more feedback from people who view it and most of it is that it was nice and priced around average price. No real tanagble feedback I could use.
I'm thinking about doing something to the landscape to add cub more curb appeal. But I need to get this sold asap.
I bought it with hard money so sitting on high interest. Also considering trying to refinance but not sure if I will be able to without havigg tenants in it first. Any suggestions are welcome. Thanks
Real Estate Agent · Virginia Beach, VA · Member since 2012 · 2k+ posts · 1k+ votes
7y
Just my opinion, but the pictures don't match the "fully renovated" language in the listing, and curb appeal needs work. The windows are a problem -- not sure what's going on there, but they detract from both interior and exterior views. The roof looks older in the photos, the dark exterior color doesn't help, driveway needs cleaning. The pictures could use some work as well -- not level, dark, odd angles, move the garbage cans out of the shot. I'd eliminate most of the exterior shots, keep the distant whole-house ones, remove the interior photos that emphasize the weird windows and add more photos of the kitchen and bath renovations. For feedback, some agents just use the standard questions about buyer interest, price too high, low, just right, etc., so you may not be getting the full picture. Ask your agent if he can speak to or email showing agents directly to see if they can add some constructive comments to their feedback.
Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
7y
@Luis Vaca yes you are right the pictures are now professionally taken and it looks like he also reduced the price this week so hopefully he can secure a buyer soon!!
Rental Property Investor · DFW · Member since 2016 · 20 posts · 17 votes
7y
Thank you everyone for the advice and straight forward feedback! I appreciate the honesty and not sugar coating it.
I took your advice and cleaned up the exterior some and got some professional pictures. And instantly started getting much more views and a couple offers. They ended up falling through but that alot of progress so thank you!
Going to refinance to get out of the hardmoney loan and keep pushing.
Realtor · Dallas - Fort Worth Metroplex, TX · Member since 2016 · 1k+ posts · 925 votes
7y
@Kris Russell It's been 2 weeks since you last post. Are you under offer? If not, what have you done with the price? Or can you consider keeping it if you are getting out of your HML.
Rental Property Investor · DFW · Member since 2016 · 20 posts · 17 votes
7y
I have an interested buyer, after inspection he requested some small repairs so working on that and hopefully I can close with them. I was unable to get the refinance, due to I used credit cards for my part part of the deal so my debt to income is really high until I sell.
Side note I did use "Fund and grow" to get the business and personal cards I used. It worked well but the situation I'm in now is the only downside
Flipper / Landlord · Tyler, TX · Member since 2016 · 255 posts · 126 votes
7y
@Kris Russell it happes, don't feel bad. I had the same thing happen to me on this last flip i did. Ended up getting a cash offer from an investor at exactly the price I was all in and i took a lose after commission , transaction fees. first one for me, but i had interest I was paying so if I was to hold on to It, be loosing a whole lot more. Learned a lot !