Bought properties at a surplus sale and can't unload them
My husband and I decided to invest in some properties last summer from our county surplus sale. We had a "mentor" that got us into this and charged a fee for his guidance. The whole idea behind these were to buy them and then sell them on contract. I had posted about my experience with this in another post and was told to ditch this mentor. Which, I have since done!
I am now finding myself in a situation where we have 2 out the 3 investment properties left and I can't sell them to any wholesaler around for anywhere close to what we paid for them. It blows my mind what wholesalers buy or offer to buy properties for. I thought we got a great deal at the sale on some of ours, but I am seeing things differently now. I have a wholesaler telling me to take their offers because we are going to lose money regardless and the longer we hold them, the more we will lose.
One house is a 2brm house in a decent area, not super distressed, comps showing in the high 20's. I can't even get $6000 for this house..
The other one came with two parcels, one with a 1bdrm house and one with a converted garage stripped down to the studs. This one comps out around the same for each lot. I can't get close to $7000 for both combined.
Am I missing something here?