First Flip - Getting offers! Need advice

[Evan Holly]

I just finished my first flip ever, and am so happy to be getting multiple offers! I've never actually sold a house on the MLS before, and am wondering if any experienced flippers could chime in on what they would take.

House is in Ohio. Purchased at 16.5k, rehabbed for 35k, and have a few thousand in holding when all said and done. All in I'm at 55k. We listed at 79k on Friday, and I've gotten 3 offers over asking so far.

1. 96k - FHA loan,

2. 95k - with inspection

3. 90k - no inspection

This flip was challenging due to contractors backing out, and while I believe everything is up to code, I have some doubts about their work. Considering the offer of $90k with no inspection, as my realtor warns a negative inspection report could hurt future prospects.  Would love some insight!

[Joe Norman]

Sounds like a profitable flip and a good learning experience - great work.

This doesn't have anything to do with your original question, but your statement that "I have some doubts about their work" caught my eye. Not sure what Ohio's disclosure laws are, but you should ask your Realtor what obligations you have to disclose latent defects and/or material facts. You may be fine and not have to disclose anything (especially if your concerns would be evident to anyone walking into the house, e.g. not covered up behind drywall), but its worth having the conversation with your Realtor to CYA.

Good luck!