Options for investors when a flip doesn't sale

[Jason Semper]

Quick question for some investors, what can you do if you have a flip that is not selling at the speed/price you desire.  Renting it out would be tough to have to refi the property and put the 20% down to acquire the property.  Just curious to other strategies you have and hoping to learn from others here.  Thank you in advance.   

[Scott Trench]

The exit options for a project generally involve the following: 

- Selling it (Flip) 

- Refinancing it and keeping it as a long-term rental (BRRRR)

- Refinancing it and keeping it as a short-term rental (BRRRRBnB) 

There are lots of permutations of this - you can do mid-term rentals, rent it out by the bedroom, etc. 

[Jason Sung]

Quote from @Scott Trench:

The exit options for a project generally involve the following: 

- Selling it (Flip) 

- Refinancing it and keeping it as a long-term rental (BRRRR)

- Refinancing it and keeping it as a short-term rental (BRRRRBnB) 

There are lots of permutations of this - you can do mid-term rentals, rent it out by the bedroom, etc. 

@Scott Trench great. What do you mean by mid term rental? 

[Issac San Miguel]

Quote from @Jason Sung:

Quote from @Scott Trench:

The exit options for a project generally involve the following: 

- Selling it (Flip) 

- Refinancing it and keeping it as a long-term rental (BRRRR)

- Refinancing it and keeping it as a short-term rental (BRRRRBnB) 

There are lots of permutations of this - you can do mid-term rentals, rent it out by the bedroom, etc. 

@Scott Trench great. What do you mean by mid term rental? 

Mid term rental would be 3-9 months. Think contract workers, travel nurses, insurance adjusters etc. 

You wouldn’t need 20% down to refi a property you already own…. most lenders will go up to 75% on a dscr loan based on the rent of the property and not your personal finances.  

[Eliott Elias]

Pull enough cash out for it to cash flow