120 DOM Garland Nightmare Flip

Kay Sam

Member since 2025 · 123 posts · 41 votes

Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.

I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.

Deal Breakdown:

Originally listed: $305K

Current price: $274,999

ARV range (based on comps): ~$290K–$310K

Layout feedback: some buyers say it’s “a bit funky”

Foundation: previously repaired with engineering report + warranty

What’s happened so far:

2 terminated contracts

Buyer backed out over foundation concerns (even though it’s already repaired + documented)

Second buyer (younger couple) got cold feet — worried about future repairs and costs

Multiple showings, but:

Buyers hesitant

No current offers

Feedback is inconsistent or nonexistent

Current situation:

Hard money loan (~12% interest)

Already paid ~$10K+ in interest

Carrying costs adding up monthly

Reserves are getting low

Options I’ve explored:

Further price drops → hesitant to chase the market endlessly

Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints

Renting → would be roughly breakeven/slight negative

Mid-term rental → not a strong market here

Reality:

At this point, I’m trying to preserve as much capital as possible and exit cleanly.

Questions for the group:

What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?

Any creative exit strategies I’m missing?

Would you:

Drop aggressively into the $260s?

Pivot fully to investors and take a clean lower offer?

Structure the deal differently (terms, incentives, etc.)?

For those who’ve had “problem properties” sit like this — what actually got it SOLD?

Additional context:

I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.

Appreciate any real feedback from those who’ve been through this.

1 Reply

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Don KonipolBusiness Member

Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes

6mo

Quote from @Kay Sam:

Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.

I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.

Deal Breakdown:

Originally listed: $305K

Current price: $274,999

ARV range (based on comps): ~$290K–$310K

Layout feedback: some buyers say it’s “a bit funky”

Foundation: previously repaired with engineering report + warranty

What’s happened so far:

2 terminated contracts

Buyer backed out over foundation concerns (even though it’s already repaired + documented)

Second buyer (younger couple) got cold feet — worried about future repairs and costs

Multiple showings, but:

Buyers hesitant

No current offers

Feedback is inconsistent or nonexistent

Current situation:

Hard money loan (~12% interest)

Already paid ~$10K+ in interest

Carrying costs adding up monthly

Reserves are getting low

Options I’ve explored:

Further price drops → hesitant to chase the market endlessly

Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints

Renting → would be roughly breakeven/slight negative

Mid-term rental → not a strong market here

Reality:

At this point, I’m trying to preserve as much capital as possible and exit cleanly.

Questions for the group:

What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?

Any creative exit strategies I’m missing?

Would you:

Drop aggressively into the $260s?

Pivot fully to investors and take a clean lower offer?

Structure the deal differently (terms, incentives, etc.)?

For those who’ve had “problem properties” sit like this — what actually got it SOLD?

Additional context:

I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.

Appreciate any real feedback from those who’ve been through this.

In my 50years of real estate investing, I’ve had more than a few investments that lost money. Three ways to handle it (1) buy time by renting it out - good if rental income high enough, you have “staying power” (ability to absorb negative cash flow), can utilize tax losses, and have or can obtain low interest financing. Most property appreciates in the medium to long term. (2) sell with creative financing to obtain the highest price - 10% down owner financing triples the potential buyer pool and often obtains selling price 10 -20% higher than otherwise (3) take the hit and sell at market price - which is a lot lower than you want.

Now’s not the time to run a critique of your investment methodology as it just rubs salt in the wound. After all is settled you need to do a lot of serious thinking about your continued participation in the fix n flip niche.

Btw, LOTS of people lose money in theirs first or second business ventures. Keep your chin up.

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Mike Kirby
Rental Property Investor · New Braunfels, TX · Member since 2021 · 289 posts · 256 votes
6mo
Quote from @Kay Sam:

Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
Deal Breakdown:
Originally listed: $305K
Current price: $274,999
ARV range (based on comps): ~$290K–$310K
Layout feedback: some buyers say it’s “a bit funky”
Foundation: previously repaired with engineering report + warranty
What’s happened so far:
2 terminated contracts
Buyer backed out over foundation concerns (even though it’s already repaired + documented)
Second buyer (younger couple) got cold feet — worried about future repairs and costs
Multiple showings, but:
Buyers hesitant
No current offers
Feedback is inconsistent or nonexistent
Current situation:
Hard money loan (~12% interest)
Already paid ~$10K+ in interest
Carrying costs adding up monthly
Reserves are getting low
Options I’ve explored:
Further price drops → hesitant to chase the market endlessly
Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
Renting → would be roughly breakeven/slight negative
Mid-term rental → not a strong market here
Reality:
At this point, I’m trying to preserve as much capital as possible and exit cleanly.
Questions for the group:
What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
Any creative exit strategies I’m missing?
Would you:
Drop aggressively into the $260s?
Pivot fully to investors and take a clean lower offer?
Structure the deal differently (terms, incentives, etc.)?
For those who’ve had “problem properties” sit like this — what actually got it SOLD?
Additional context:
I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
Appreciate any real feedback from those who’ve been through this.
Sorry you are in this situation but I did a quick look on Realtor.com and there are over 400 houses for sale in Garland between $250k and $300k. The only way you’re gonna sell quickly is to lower the price. It’s a painful place to be but if you can’t turn it into a rental and hold onto it for a few years you should drop the price. Good luck.
1 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Mike Kirby:
  
  Quote from @Kay Sam:
  
  Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
  I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
  Deal Breakdown:
  Originally listed: $305K
  Current price: $274,999
  ARV range (based on comps): ~$290K–$310K
  Layout feedback: some buyers say it’s “a bit funky”
  Foundation: previously repaired with engineering report + warranty
  What’s happened so far:
  2 terminated contracts
  Buyer backed out over foundation concerns (even though it’s already repaired + documented)
  Second buyer (younger couple) got cold feet — worried about future repairs and costs
  Multiple showings, but:
  Buyers hesitant
  No current offers
  Feedback is inconsistent or nonexistent
  Current situation:
  Hard money loan (~12% interest)
  Already paid ~$10K+ in interest
  Carrying costs adding up monthly
  Reserves are getting low
  Options I’ve explored:
  Further price drops → hesitant to chase the market endlessly
  Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
  Renting → would be roughly breakeven/slight negative
  Mid-term rental → not a strong market here
  Reality:
  At this point, I’m trying to preserve as much capital as possible and exit cleanly.
  Questions for the group:
  What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
  Any creative exit strategies I’m missing?
  Would you:
  Drop aggressively into the $260s?
  Pivot fully to investors and take a clean lower offer?
  Structure the deal differently (terms, incentives, etc.)?
  For those who’ve had “problem properties” sit like this — what actually got it SOLD?
  Additional context:
  I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
  Appreciate any real feedback from those who’ve been through this.
  Sorry you are in this situation but I did a quick look on Realtor.com and there are over 400 houses for sale in Garland between $250k and $300k. The only way you’re gonna sell quickly is to lower the price. It’s a painful place to be but if you can’t turn it into a rental and hold onto it for a few years you should drop the price. Good luck.
  
  Hi Mike,
  Thanks for the response. It's just crazy to me; as there are some house selling fast in Garland however it seems to depend on the area. From what my realtor told me, this pocket in Garland isn't the best. Nevertheless, even a rental will be a slow bleed.
  0 Reply
Kay Sam
OP
Member since 2025 · 123 posts · 41 votes
6mo
Quote from @Bo Smith:

120 days is brutal, and you're right to be aggressive about exit strategy. The foundation + layout combo is working against you even though the foundation is actually fixed. Buyer psychology is real -- if they're nervous about foundation, they're already mentally checked out.
Here's what I'd do: Pivot hard to investor buyers instead of owner-occupants. List it directly to local investors, wholesalers, and portfolio builders. Set a firm 14-day close with no contingencies and offer financing terms if you've got cash -- that gets you past the buyer hesitation and actually moves it. You might take 10-15K more loss on the sale price, but you save another 60 days of carrying costs on hard money at 12%. Do the math -- which actually costs you less?
One thing I'd avoid: Chasing the market down to the 60s. That's liquidation mentality and you'll just get lower and lower offers from tire-kickers. Make ONE meaningful price move to 65-270K with investor targeting, then hold firm. Give it 10-14 days at that price to serious cash buyers. If nothing moves, you pivot to rental or short sale.
Have you reached out to any local wholesalers or developer groups in Garland directly, or are you just listing it traditionally?

Hi Bo,

I'm listing it traditionally on MLS. I told my realtor to reach out to his investors and only 1 replied and then his wife told him to not buy anything right now- so he's out!

I don't have any other investors to reach out to. I listed it on FB in investor groups and still NOTHING. Do you happen to know of anyone who might be interested? From what I've heard from my realtor, he's saying if he did a "fire sale," the offers are going to be about $220K which is HORRIBLE & I'll be losing a LOT of money. I have about $47K tied up in the deal of my OWN money which I was trying to get as much back to keep me alive in RE... not going well.

Do you know of anyone who wouldn't be a tire kicker?
0 Reply
Diego AlvaradoBusiness Member
Real Estate Agent · Flower Mound, TX · Member since 2016 · 298 posts · 140 votes
6mo
Hi @Kay Sam
I'm sorry to hear about the challenges you're facing. Your realtor is correct: selling off-market to flippers or investors typically requires a significant discount on the current asking price. Furthermore, 'buy and hold' investors already use the MLS, so you have likely already captured that audience.

I recommend focusing on two areas:
1. Direct Feedback: Dig deeper into the comments regarding the foundation and layout. If buyers have other options, these specific issues will consistently drive them away.
2. DSCR Financing: Have you consulted multiple lenders about a DSCR loan? Guidelines vary significantly between institutions; you may find one whose criteria align better with your current situation.
[email protected]214-833-8911
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- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Diego Alvarado:
  
  Hi @Kay Sam
  I'm sorry to hear about the challenges you're facing. Your realtor is correct: selling off-market to flippers or investors typically requires a significant discount on the current asking price. Furthermore, 'buy and hold' investors already use the MLS, so you have likely already captured that audience.
  
  I recommend focusing on two areas:
  
  Direct Feedback: Dig deeper into the comments regarding the foundation and layout. If buyers have other options, these specific issues will consistently drive them away.
  DSCR Financing: Have you consulted multiple lenders about a DSCR loan? Guidelines vary significantly between institutions; you may find one whose criteria align better with your current situation.
  
  Diego,
  What I've been hearing about the layout mostly is that it's not "functional," particularly regarding the converted garage. There's no way to fix that..... Property highlighted as office, gym, playroom etc., and for some reason no one can see the vision! Foundation hasn't even been the hold up, people are talking about the layout.
  0 Reply
Kyle Hess
Member since 2024 · 14 posts · 7 votes
6mo
I'm currently in the same boat.
My suggestion would be to price it so aggressively that you'll bring in multiple interested buyers immediately. This way, if one of the contracts terminate, you'll still have backups.
In my opinion, it's better to accept a big loss now instead of allowing holding costs to eventually equal the same type of loss if you waited a few more months.

Another option I would suggest: You could pull it off-market and fix the items that buyers are worried about with "future repairs" as you mentioned. Most buyers that are looking for a flipped house are expecting little to no repairs needed, so that could be pushing some people away if there's more work to be done.
0 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Kyle Hess:
  
  I'm currently in the same boat.
  My suggestion would be to price it so aggressively that you'll bring in multiple interested buyers immediately. This way, if one of the contracts terminate, you'll still have backups.
  In my opinion, it's better to accept a big loss now instead of allowing holding costs to eventually equal the same type of loss if you waited a few more months.
  
  Another option I would suggest: You could pull it off-market and fix the items that buyers are worried about with "future repairs" as you mentioned. Most buyers that are looking for a flipped house are expecting little to no repairs needed, so that could be pushing some people away if there's more work to be done.
  
  Hi Kyle,
  The house is fully flipped and the feedback hasn't been the flooring, cabinets etc.. Example, the 1 couple was mentioning things to fix in general. Which happens in every home.
  Planning to drop the price again this week......seems endless.
  How many DOM is your property and what market?
  0 Reply
- Kyle Hess
  Member since 2024 · 14 posts · 7 votes
  6mo
  Quote from @Kay Sam:
  
  Quote from @Kyle Hess:
  
  I'm currently in the same boat.
  My suggestion would be to price it so aggressively that you'll bring in multiple interested buyers immediately. This way, if one of the contracts terminate, you'll still have backups.
  In my opinion, it's better to accept a big loss now instead of allowing holding costs to eventually equal the same type of loss if you waited a few more months.
  
  Another option I would suggest: You could pull it off-market and fix the items that buyers are worried about with "future repairs" as you mentioned. Most buyers that are looking for a flipped house are expecting little to no repairs needed, so that could be pushing some people away if there's more work to be done.
  
  Hi Kyle,
  The house is fully flipped and the feedback hasn't been the flooring, cabinets etc.. Example, the 1 couple was mentioning things to fix in general. Which happens in every home.
  Planning to drop the price again this week......seems endless.
  How many DOM is your property and what market?
  
  It's good you're asking for feedback, it can be super helpful if they're willing to share. Most agents don't share, but the ones that do usually give very insightful information.
  
  I would make sure to include the engineering report with the disclosures so it's not missed next time.
  
  I hit 150 DOM before I made a very aggressive price drop below comps, got an immediate offer with 3 backup buyers and a cash offer. I'm in the Atlanta market. I've seen a few flips that are stuck on the market lately. There's another house in the same neighborhood of my flip that's $10k more than my "aggressive price drop" and they just hit 200 DOM.
  
  Are you able to share the listing?
  
  0 Reply
Ryan D.
Investor · Portland, OR · Member since 2026 · 67 posts · 35 votes
6mo
Kay, feel for you on this one.

The foundation repair being a selling obstacle even WITH engineering reports is sign to me that pricing needs to go aggressive though I understand it is hard to swallow. I been there before.

Here's what's worked for me in similar spots: First, if early April like now, not go aggressive yet but if in late August or early September, I will go aggressive to go down to what you are willing to go. Second, did you talk with potential buyers that you are willing to 'credit' for things that they are not happy about; this way you will know if you really have a 'foundation' concern or just a 'pricing' issue. I used it a few times and it was always a pricing issue which negotiation can get it done quite well and deal closed.

The other thing - and this might sound counterintuitive - but I've had better luck pulling a sitting listing completely, doing some minor picture refresh and waiting for 1-2 weeks (if relist too soon, system will recategorize it as same listing), and relisting 2 weeks later at a strategic price rather than just continuously dropping. Fresh listing energy vs death spiral vibes that people can smell.

My honest personal take on this will be just bite the bullet and stop bleeding first. I have been there and understand how hard it is to accept it. But it is a business. It is better to reset and move on. Good luck.
1 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Ryan D.:
  
  Kay, feel for you on this one.
  
  The foundation repair being a selling obstacle even WITH engineering reports is sign to me that pricing needs to go aggressive though I understand it is hard to swallow. I been there before.
  
  Here's what's worked for me in similar spots: First, if early April like now, not go aggressive yet but if in late August or early September, I will go aggressive to go down to what you are willing to go. Second, did you talk with potential buyers that you are willing to 'credit' for things that they are not happy about; this way you will know if you really have a 'foundation' concern or just a 'pricing' issue. I used it a few times and it was always a pricing issue which negotiation can get it done quite well and deal closed.
  
  The other thing - and this might sound counterintuitive - but I've had better luck pulling a sitting listing completely, doing some minor picture refresh and waiting for 1-2 weeks (if relist too soon, system will recategorize it as same listing), and relisting 2 weeks later at a strategic price rather than just continuously dropping. Fresh listing energy vs death spiral vibes that people can smell.
  
  My honest personal take on this will be just bite the bullet and stop bleeding first. I have been there and understand how hard it is to accept it. But it is a business. It is better to reset and move on. Good luck.
  
  Ryan,
  I've SURELY had a difficult time swallowing the fact that I'm about to lose another $15K-20K. My previous deal in FL was also a LOSS.
  Aside from that, I've asked my realtor about pulling the listing and he advised against it especially being closer to the "busy," time. Before, I didn't want to pull it off, afraid I'd miss something.
  I was offering concessions $10K, I had closing credits and now my realtor has been saying "just bring offers."
  I will mot be able to hold this until August or September. I need to have this OFF my books ASAP. The timeline was 3 months and obviously I'm over that and spinning my wheels. So you're saying accept the loss DROP the price $250K or so? At that point I have been wondering about an investor. However, I had a few look and they're offering LOWER than $240k.
  0 Reply
- Theresa HarrisPro Member
  Member since 2019 · 15k+ posts · 11k+ votes
  6mo
  Quote from @Kay Sam:
  
  Quote from @Ryan D.:
  
  Kay, feel for you on this one.
  
  The foundation repair being a selling obstacle even WITH engineering reports is sign to me that pricing needs to go aggressive though I understand it is hard to swallow. I been there before.
  
  Here's what's worked for me in similar spots: First, if early April like now, not go aggressive yet but if in late August or early September, I will go aggressive to go down to what you are willing to go. Second, did you talk with potential buyers that you are willing to 'credit' for things that they are not happy about; this way you will know if you really have a 'foundation' concern or just a 'pricing' issue. I used it a few times and it was always a pricing issue which negotiation can get it done quite well and deal closed.
  
  The other thing - and this might sound counterintuitive - but I've had better luck pulling a sitting listing completely, doing some minor picture refresh and waiting for 1-2 weeks (if relist too soon, system will recategorize it as same listing), and relisting 2 weeks later at a strategic price rather than just continuously dropping. Fresh listing energy vs death spiral vibes that people can smell.
  
  My honest personal take on this will be just bite the bullet and stop bleeding first. I have been there and understand how hard it is to accept it. But it is a business. It is better to reset and move on. Good luck.
  
  Ryan,
  I've SURELY had a difficult time swallowing the fact that I'm about to lose another $15K-20K. My previous deal in FL was also a LOSS.
  Aside from that, I've asked my realtor about pulling the listing and he advised against it especially being closer to the "busy," time. Before, I didn't want to pull it off, afraid I'd miss something.
  When is your contract with him up? Pulling it and relisting it as a fresh listing will bump it up the list when people look at it. Right now they see 120 DOM and wonder what is wrong with it. Tell him you want it pulled for a week and it relisted with a few new photos especially of the outside as it will have changed with the seasons.
  0 Reply
Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
6mo
@Bo Smith - why would you pivot to investors if it would not cash flow as an investment property? To me, that's awful advice.
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Chris SeveneyBusiness Member
Moderator
Investor · VA · Member since 2015 · 21k+ posts · 19k+ votes
6mo
What was the foundation repair done, and after the inspection, does it require ongoing maintenance, or did it completely resolve the issue? If two buyers walked because of the foundation issue, it doesn't sound like it's completely resolved.
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- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Chris Seveney:
  
  What was the foundation repair done, and after the inspection, does it require ongoing maintenance, or did it completely resolve the issue? If two buyers walked because of the foundation issue, it doesn't sound like it's completely resolved.
  
  Hi Chris,
  Well piers and beams have been installed and I have the docs.. Nevertheless, we also had a foundation engineer come out about 2 weeks ago and stated present day the home is good. Unfortunately, the last contract that terminated, the buyer's realtor FORGOT to show the engineering report that the buyer requested & buyer opted to pull out. When we reminded agent of the report, she said "they're a young couple concerned about the house, possible repairs and foundation." We resent it, but contract was already terminated..... we asked for them to reconsider just last week prior to Easter. No reply other than they're checking out other homes.
  0 Reply
Theresa HarrisPro Member
Member since 2019 · 15k+ posts · 11k+ votes
6mo
What are your carrying costs and can you pull it and rent it for a year or two before listing it again or simply pull it off the market, wait a few weeks and relist it with new photos and a different realtor? While it has been listed for 120 days, those were Dec-April-a slow time in some markets.
0 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Theresa Harris:
  
  What are your carrying costs and can you pull it and rent it for a year or two before listing it again or simply pull it off the market, wait a few weeks and relist it with new photos and a different realtor? While it has been listed for 120 days, those were Dec-April-a slow time in some markets.
  
  Theresa,
  Yes this is SURELY a slow time.....I did a post prior to listing inquiring about other's experience with listing during the holiday season. Now having found out for myself, I will NEVER list during holidays again. Like EVER.
  I wouldn't be able to keep paying my HML for a year as it stands. I have $47K in the deal of my own cash & I've paid $10K to date in interest......$10k GONE and $47K hanging in limbo which I know I'm not getting all of that back.
  0 Reply
Michael S.
Huntsville, AL · Member since 2018 · 578 posts · 864 votes
6mo
@Kay Sam - yes, this has absolutely happened to us before, and it is not fun. We currently have one at 86 DOM right now, and just closed one last week that took over 120 DOM to close after the first buyer bailed because they do not understand that a functional roof without any leaks or defects that is 15 years old does not require a full replacement.
Without seeing the property, here are items that jump out at me:
1. A "funky" layout is a big problem when there are a lot of other options on the market.
2. If the foundation was done with a licensed contractor and has a legit warranty, that does not make sense why a buyer would be worried about, unless it has something like a recurrent water issue.
3. Your loan rate would have been a deal breaker for us - would never do a flip at 12% (and I assume you paid points as well) for this exact reason - holding costs can sometimes be much longer than penciled out.
4. How often is your agent having open houses? Did you settle for a "low cost" agent, or using one of the best in the area? Can make a huge diffence.
5. I'd drop the house price to 265k now to get immediate attention, offer a 2-1 loan buydown with an accepted offer, and hold at this price for a month and see what happens.
6. If there is anyway to make it a viable rental, I'd consider that route, but only if you can get rid of that loan.
Good luck.
0 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Michael S.:
  
  @Kay Sam - yes, this has absolutely happened to us before, and it is not fun. We currently have one at 86 DOM right now, and just closed one last week that took over 120 DOM to close after the first buyer bailed because they do not understand that a functional roof without any leaks or defects that is 15 years old does not require a full replacement.
  Without seeing the property, here are items that jump out at me:
  1. A "funky" layout is a big problem when there are a lot of other options on the market.
  2. If the foundation was done with a licensed contractor and has a legit warranty, that does not make sense why a buyer would be worried about, unless it has something like a recurrent water issue.
  3. Your loan rate would have been a deal breaker for us - would never do a flip at 12% (and I assume you paid points as well) for this exact reason - holding costs can sometimes be much longer than penciled out.
  4. How often is your agent having open houses? Did you settle for a "low cost" agent, or using one of the best in the area? Can make a huge diffence.
  5. I'd drop the house price to 265k now to get immediate attention, offer a 2-1 loan buydown with an accepted offer, and hold at this price for a month and see what happens.
  6. If there is anyway to make it a viable rental, I'd consider that route, but only if you can get rid of that loan.
  Good luck.
  
  Hi Michael,
  I appreciate your feedback. The roof story with your 120+ DOM house sounds very similar!!
  1. What kind of interest rate would be "good" in your opinion? I'm currently trying to find a way to exit this deal and it's not turning up anything so far with my 600 credit score....(working to improve it).
  2. The layout is the biggest point of contention I keep hearing
  3. My agent has only had about 3 open houses- we only had visitors at the first open house and it was ONLY 2 potential buyers.
  4. I was thinking to drop price to $269K this Wednesday after showings 4/6 (2 scheduled)
  5. The only way I was going to rent out the place is if I can refinance and then payoff my HML and the rent is covered. I am trying to see if I can do a cash out refi, roll the closing costs into the loan and hopefully be able to hold it until sell in a year perhaps and PRAY I can sell it 1 year from now and NOT lose like this time.
  6. I'd prefer a clean exit.
  0 Reply
Drew SygitBusiness Member
Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
6mo
WHat about an auction with a minimum?
Or drop it to $250k, or so, to generate auction-like atmosphere and ask for highest and best offers due to multiple interested parties?
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- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Drew Sygit:
  
  WHat about an auction with a minimum?
  Or drop it to $250k, or so, to generate auction-like atmosphere and ask for highest and best offers due to multiple interested parties?
  
  Drew,
  I actually asked my agent about an auction; he doesn't have a license for it. So that means I'd have to fire him just to do this right? I was curious about this method as I saw a house in the property's vicinity that's listed in such a fashion $100K and being auctioned- brand NEW flip. How has this worked for you if you've done it?
  0 Reply
- Drew SygitBusiness Member
  Property Manager · Royal Oak, MI · Member since 2012 · 12k+ posts · 9k+ votes
  6mo
  Quote from @Kay Sam:
  
  Quote from @Drew Sygit:
  
  WHat about an auction with a minimum?
  Or drop it to $250k, or so, to generate auction-like atmosphere and ask for highest and best offers due to multiple interested parties?
  
  Drew,
  I actually asked my agent about an auction; he doesn't have a license for it. So that means I'd have to fire him just to do this right? I was curious about this method as I saw a house in the property's vicinity that's listed in such a fashion $100K and being auctioned- brand NEW flip. How has this worked for you if you've done it?
  
  Haven't sold any this way, but bought one and have offered on others.
  What about listing it around $225k to create an auction-like environment?
  Have seen that hundreds of times.
  [email protected]248-209-6824
  Logical Property Management4.9460 Reviews
  Website View Page
  0 Reply
Ken M.
Investor · Get yourself trained before doing something inadvisable. · Member since 2024 · 3k+ posts · 1k+ votes
6mo
Quote from @Kay Sam:

Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
Deal Breakdown:
Originally listed: $305K
Current price: $274,999
ARV range (based on comps): ~$290K–$310K
Layout feedback: some buyers say it’s “a bit funky”
Foundation: previously repaired with engineering report + warranty
What’s happened so far:
2 terminated contracts
Buyer backed out over foundation concerns (even though it’s already repaired + documented)
Second buyer (younger couple) got cold feet — worried about future repairs and costs
Multiple showings, but:
Buyers hesitant
No current offers
Feedback is inconsistent or nonexistent
Current situation:
Hard money loan (~12% interest)
Already paid ~$10K+ in interest
Carrying costs adding up monthly
Reserves are getting low
Options I’ve explored:
Further price drops → hesitant to chase the market endlessly
Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
Renting → would be roughly breakeven/slight negative
Mid-term rental → not a strong market here
Reality:
At this point, I’m trying to preserve as much capital as possible and exit cleanly.
Questions for the group:
What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
Any creative exit strategies I’m missing?
Would you:
Drop aggressively into the $260s?
Pivot fully to investors and take a clean lower offer?
Structure the deal differently (terms, incentives, etc.)?
For those who’ve had “problem properties” sit like this — what actually got it SOLD?
Additional context:
I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
Appreciate any real feedback from those who’ve been through this.
A lot has been written already, so I took the liberty of not reading the posts.

If you have not borrowed from a Hard Money Lender, you may want to simply sell as owner financing, get a good chunk of money down, and put it in a two year Leas Option. If you response is "Huh?" or "what did he say?" DM me and I'll give you the details.

If you borrowed from a Hard Money Lender, it requires a different strategy that take some explaining to do.
0 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Ken M.:
  
  Quote from @Kay Sam:
  
  Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
  I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
  Deal Breakdown:
  Originally listed: $305K
  Current price: $274,999
  ARV range (based on comps): ~$290K–$310K
  Layout feedback: some buyers say it’s “a bit funky”
  Foundation: previously repaired with engineering report + warranty
  What’s happened so far:
  2 terminated contracts
  Buyer backed out over foundation concerns (even though it’s already repaired + documented)
  Second buyer (younger couple) got cold feet — worried about future repairs and costs
  Multiple showings, but:
  Buyers hesitant
  No current offers
  Feedback is inconsistent or nonexistent
  Current situation:
  Hard money loan (~12% interest)
  Already paid ~$10K+ in interest
  Carrying costs adding up monthly
  Reserves are getting low
  Options I’ve explored:
  Further price drops → hesitant to chase the market endlessly
  Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
  Renting → would be roughly breakeven/slight negative
  Mid-term rental → not a strong market here
  Reality:
  At this point, I’m trying to preserve as much capital as possible and exit cleanly.
  Questions for the group:
  What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
  Any creative exit strategies I’m missing?
  Would you:
  Drop aggressively into the $260s?
  Pivot fully to investors and take a clean lower offer?
  Structure the deal differently (terms, incentives, etc.)?
  For those who’ve had “problem properties” sit like this — what actually got it SOLD?
  Additional context:
  I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
  Appreciate any real feedback from those who’ve been through this.
  A lot has been written already, so I took the liberty of not reading the posts.
  
  If you have not borrowed from a Hard Money Lender, you may want to simply sell as owner financing, get a good chunk of money down, and put it in a two year Leas Option. If you response is "Huh?" or "what did he say?" DM me and I'll give you the details.
  
  If you borrowed from a Hard Money Lender, it requires a different strategy that take some explaining to do.
  
  I'll DM you.
  0 Reply
Don KonipolBusiness Member
Investor · The Woodlands TX / Avon, CT · Member since 2009 · 6k+ posts · 10k+ votes
6mo
Quote from @Kay Sam:

Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
Deal Breakdown:
Originally listed: $305K
Current price: $274,999
ARV range (based on comps): ~$290K–$310K
Layout feedback: some buyers say it’s “a bit funky”
Foundation: previously repaired with engineering report + warranty
What’s happened so far:
2 terminated contracts
Buyer backed out over foundation concerns (even though it’s already repaired + documented)
Second buyer (younger couple) got cold feet — worried about future repairs and costs
Multiple showings, but:
Buyers hesitant
No current offers
Feedback is inconsistent or nonexistent
Current situation:
Hard money loan (~12% interest)
Already paid ~$10K+ in interest
Carrying costs adding up monthly
Reserves are getting low
Options I’ve explored:
Further price drops → hesitant to chase the market endlessly
Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
Renting → would be roughly breakeven/slight negative
Mid-term rental → not a strong market here
Reality:
At this point, I’m trying to preserve as much capital as possible and exit cleanly.
Questions for the group:
What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
Any creative exit strategies I’m missing?
Would you:
Drop aggressively into the $260s?
Pivot fully to investors and take a clean lower offer?
Structure the deal differently (terms, incentives, etc.)?
For those who’ve had “problem properties” sit like this — what actually got it SOLD?
Additional context:
I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
Appreciate any real feedback from those who’ve been through this.
In my 50years of real estate investing, I’ve had more than a few investments that lost money. Three ways to handle it (1) buy time by renting it out - good if rental income high enough, you have “staying power” (ability to absorb negative cash flow), can utilize tax losses, and have or can obtain low interest financing. Most property appreciates in the medium to long term. (2) sell with creative financing to obtain the highest price - 10% down owner financing triples the potential buyer pool and often obtains selling price 10 -20% higher than otherwise (3) take the hit and sell at market price - which is a lot lower than you want.

Now’s not the time to run a critique of your investment methodology as it just rubs salt in the wound. After all is settled you need to do a lot of serious thinking about your continued participation in the fix n flip niche.

Btw, LOTS of people lose money in theirs first or second business ventures. Keep your chin up.
Private Mortgage Financing Partners, LLC
Website View Page
2 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Don Konipol:
  
  Quote from @Kay Sam:
  
  Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
  I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
  Deal Breakdown:
  Originally listed: $305K
  Current price: $274,999
  ARV range (based on comps): ~$290K–$310K
  Layout feedback: some buyers say it’s “a bit funky”
  Foundation: previously repaired with engineering report + warranty
  What’s happened so far:
  2 terminated contracts
  Buyer backed out over foundation concerns (even though it’s already repaired + documented)
  Second buyer (younger couple) got cold feet — worried about future repairs and costs
  Multiple showings, but:
  Buyers hesitant
  No current offers
  Feedback is inconsistent or nonexistent
  Current situation:
  Hard money loan (~12% interest)
  Already paid ~$10K+ in interest
  Carrying costs adding up monthly
  Reserves are getting low
  Options I’ve explored:
  Further price drops → hesitant to chase the market endlessly
  Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
  Renting → would be roughly breakeven/slight negative
  Mid-term rental → not a strong market here
  Reality:
  At this point, I’m trying to preserve as much capital as possible and exit cleanly.
  Questions for the group:
  What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
  Any creative exit strategies I’m missing?
  Would you:
  Drop aggressively into the $260s?
  Pivot fully to investors and take a clean lower offer?
  Structure the deal differently (terms, incentives, etc.)?
  For those who’ve had “problem properties” sit like this — what actually got it SOLD?
  Additional context:
  I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
  Appreciate any real feedback from those who’ve been through this.
  In my 50years of real estate investing, I’ve had more than a few investments that lost money. Three ways to handle it (1) buy time by renting it out - good if rental income high enough, you have “staying power” (ability to absorb negative cash flow), can utilize tax losses, and have or can obtain low interest financing. Most property appreciates in the medium to long term. (2) sell with creative financing to obtain the highest price - 10% down owner financing triples the potential buyer pool and often obtains selling price 10 -20% higher than otherwise (3) take the hit and sell at market price - which is a lot lower than you want.
  
  Now’s not the time to run a critique of your investment methodology as it just rubs salt in the wound. After all is settled you need to do a lot of serious thinking about your continued participation in the fix n flip niche.
  
  Btw, LOTS of people lose money in theirs first or second business ventures. Keep your chin up.
  
  Don,
  Thanks for you reply. I'd need to look at how I'd do owner financing; how does that even work with me having a HML??
  I've decided to take the hit trying to sell at market value- however no one's following through on purchase.
  On the last note, I've definitely been trying to understand why my methods haven't worked well in the "fix n flip niche." When I initially entered the RE field, I was landlording and eventually sold the residence I rented after doing section 8 rentals and a few other traditional rental agreements. That being said the slow cash flow method and sell property later definitely seemed to work better for me which got me in the game. May revisit it as I've lost about $50K now and to ME that's a lot of money. So Yes- I'll be circling back to my methodology ASAP.
  Appreciate it.
  0 Reply
Marcus Auerbach
Investor · Milwaukee - Mequon, WI · Member since 2010 · 5k+ posts · 7k+ votes
6mo
Let's take a look, can you post a link
0 Reply
Richard Helppie-SchmiederPro Member
Flipper/Rehabber · DFW · Member since 2020 · 374 posts · 208 votes
6mo
Your layout is probably killing you. This is a top item to make flawless on every house flip.
0 Reply
Henry Lazerow
Real Estate Agent · Chicago, IL · Member since 2017 · 2k+ posts · 2k+ votes
6mo
This is why I always tell clients to avoid high cost hard money. If your personal finances are not good enough to do local banks commercial financing you probably cannot truly afford the risks that come along with flipping and brrs.

For your situation try to cancel it and relist in a few months or in a year so the listing looks new again. Once a listing is on the market for a while especially if broke contract twice it looks tainted. Maybe find some DSCR loan even if at a low LTV if needed, so you can rent it out cover the payments and hold a while to try again next spring season.
0 Reply
Michael S.
Huntsville, AL · Member since 2018 · 578 posts · 864 votes
6mo
@Kay Sam - we are getting under 7% for a commercial 5 / 20 buy and hold, and around 8% for a construction loan. Zero points. Loan fee around $500. We work with local banks only and don't even ask the rate when we get financing done with them, as we trust them to give us their best rate at the time of acquisition (if they are not, they know we can take our business elsewhere). Also, they close 100% of the time we do a deal with them.
0 Reply
Landon ReidPro Member
Investor · South Jordan, UT · Member since 2026 · 62 posts · 38 votes
6mo
Kay — the converted garage is your real problem, not the foundation.

When buyers hear "funky layout" on a flip, what they're really saying is "I can see where you cut corners on the plan." A garage conversion that doesn't flow with the rest of the house is one of the hardest things to sell retail because they can't unsee it.

This is a due diligence lesson more than a pricing lesson. Before any flip, the first question should be: does the existing layout (or my planned conversion) match what buyers in THIS submarket actually want? That's a buildability and marketability check that should happen before you close.

For your exit right now:

1. Stop the slow bleed price drops. They signal desperation and the 120 DOM is already scaring people.

2. Pull it for 2 weeks. Relist with new photos and a description that LEANS INTO the converted space as a feature (home office, gym, flex room) with staging photos showing it in use.

3. Relist at $264,900 — aggressive enough to generate traffic, odd enough to stand out.

4. Include the engineering report in the listing docs upfront so no agent can "forget" to share it.

The foundation with warranty + engineering report is actually a SELLING POINT if positioned right. Most homes in Garland DON'T have a recent engineering sign-off. Frame it that way.

Good luck — this deal isn't dead, it just needs a reset.
1 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Landon Reid:
  
  Kay — the converted garage is your real problem, not the foundation.
  
  When buyers hear "funky layout" on a flip, what they're really saying is "I can see where you cut corners on the plan." A garage conversion that doesn't flow with the rest of the house is one of the hardest things to sell retail because they can't unsee it.
  
  This is a due diligence lesson more than a pricing lesson. Before any flip, the first question should be: does the existing layout (or my planned conversion) match what buyers in THIS submarket actually want? That's a buildability and marketability check that should happen before you close.
  
  For your exit right now:
  
  1. Stop the slow bleed price drops. They signal desperation and the 120 DOM is already scaring people.
  
  2. Pull it for 2 weeks. Relist with new photos and a description that LEANS INTO the converted space as a feature (home office, gym, flex room) with staging photos showing it in use.
  
  3. Relist at $264,900 — aggressive enough to generate traffic, odd enough to stand out.
  
  4. Include the engineering report in the listing docs upfront so no agent can "forget" to share it.
  
  The foundation with warranty + engineering report is actually a SELLING POINT if positioned right. Most homes in Garland DON'T have a recent engineering sign-off. Frame it that way.
  
  Good luck — this deal isn't dead, it just needs a reset.
  
  Landon,
  I appreciate your feedback! I've definitely learned my lesson on converted garages. I didn't convert and bought the property this way already; 2nd SFH flip.
  We're also including the reports in the MLS notes.
  You don't think $269,999 will move the needle? I need to drop it to $264.9? This is rough!
  0 Reply
Stephen Geluz
New to Real Estate · Los Angeles, CA · Member since 2023 · 83 posts · 29 votes
6mo
Those are the deals where the rehab can look fine on paper but the exit assumptions were off. Long DOM on a flip gets painful fast.
0 Reply
Eric M.
Member since 2023 · 34 posts · 13 votes
6mo
I found the listing and the interior looks nicely done. The photos are ok but not great. I think it would be helpful if you could make it stand out from the others - virtual staging, and definitely need to up the curb appeal - lawn work, planting, etc.? There also aren't any yard photos and the yard looks kind of funky on Google maps - I'm wondering if some kind of staging could be done in the yard to make it more presentable or at least virtually staged in photos?
0 Reply
- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Eric M.:
  
  I found the listing and the interior looks nicely done. The photos are ok but not great. I think it would be helpful if you could make it stand out from the others - virtual staging, and definitely need to up the curb appeal - lawn work, planting, etc.? There also aren't any yard photos and the yard looks kind of funky on Google maps - I'm wondering if some kind of staging could be done in the yard to make it more presentable or at least virtually staged in photos?
  
  Hi,
  Maybe virtual staging? I was trying to avoid doing a lot of yard-work to increase curb-appeal. Perhaps this is something to consider. Thanks!
  0 Reply
Jay HurstBusiness Member
Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
6mo
Quote from @Kay Sam:

Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
Deal Breakdown:
Originally listed: $305K
Current price: $274,999
ARV range (based on comps): ~$290K–$310K
Layout feedback: some buyers say it’s “a bit funky”
Foundation: previously repaired with engineering report + warranty
What’s happened so far:
2 terminated contracts
Buyer backed out over foundation concerns (even though it’s already repaired + documented)
Second buyer (younger couple) got cold feet — worried about future repairs and costs
Multiple showings, but:
Buyers hesitant
No current offers
Feedback is inconsistent or nonexistent
Current situation:
Hard money loan (~12% interest)
Already paid ~$10K+ in interest
Carrying costs adding up monthly
Reserves are getting low
Options I’ve explored:
Further price drops → hesitant to chase the market endlessly
Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
Renting → would be roughly breakeven/slight negative
Mid-term rental → not a strong market here
Reality:
At this point, I’m trying to preserve as much capital as possible and exit cleanly.
Questions for the group:
What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
Any creative exit strategies I’m missing?
Would you:
Drop aggressively into the $260s?
Pivot fully to investors and take a clean lower offer?
Structure the deal differently (terms, incentives, etc.)?
For those who’ve had “problem properties” sit like this — what actually got it SOLD?
Additional context:
I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
Appreciate any real feedback from those who’ve been through this.

did you have a subject to appraisal done before you closed on the purchase in the first place? if so, what did it come in at?

what do you currently owe the hard money lender on the deal? without knowing that not sure how anyone can give suggestions on what you should do. also, when is your fianncing due in full?
Hurst Real Estate, INC4.991 Reviews
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- Kay Sam
  OP
  Member since 2025 · 123 posts · 41 votes
  6mo
  Quote from @Jay Hurst:
  
  Quote from @Kay Sam:
  
  Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
  I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
  Deal Breakdown:
  Originally listed: $305K
  Current price: $274,999
  ARV range (based on comps): ~$290K–$310K
  Layout feedback: some buyers say it’s “a bit funky”
  Foundation: previously repaired with engineering report + warranty
  What’s happened so far:
  2 terminated contracts
  Buyer backed out over foundation concerns (even though it’s already repaired + documented)
  Second buyer (younger couple) got cold feet — worried about future repairs and costs
  Multiple showings, but:
  Buyers hesitant
  No current offers
  Feedback is inconsistent or nonexistent
  Current situation:
  Hard money loan (~12% interest)
  Already paid ~$10K+ in interest
  Carrying costs adding up monthly
  Reserves are getting low
  Options I’ve explored:
  Further price drops → hesitant to chase the market endlessly
  Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
  Renting → would be roughly breakeven/slight negative
  Mid-term rental → not a strong market here
  Reality:
  At this point, I’m trying to preserve as much capital as possible and exit cleanly.
  Questions for the group:
  What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
  Any creative exit strategies I’m missing?
  Would you:
  Drop aggressively into the $260s?
  Pivot fully to investors and take a clean lower offer?
  Structure the deal differently (terms, incentives, etc.)?
  For those who’ve had “problem properties” sit like this — what actually got it SOLD?
  Additional context:
  I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
  Appreciate any real feedback from those who’ve been through this.
  
  did you have a subject to appraisal done before you closed on the purchase in the first place? if so, what did it come in at?
  
  what do you currently owe the hard money lender on the deal? without knowing that not sure how anyone can give suggestions on what you should do. also, when is your fianncing due in full?
  
  No I didn't have a subject to appraisal done. Because I don't know, when is this necessary for purchases- every time?
  My HML terms in October- however trying to get out of it way before then because of the interest.
  0 Reply
- Jay HurstBusiness Member
  Lender · Dallas, TX · Member since 2017 · 1k+ posts · 1k+ votes
  6mo
  Quote from @Kay Sam:
  
  Quote from @Jay Hurst:
  
  Quote from @Kay Sam:
  
  Looking for some real investor feedback here because I’m at a decision point and need to get out of this deal.
  I have a flip in Garland, TX that’s currently sitting at ~120 days on market and I’m running out of runway.
  Deal Breakdown:
  Originally listed: $305K
  Current price: $274,999
  ARV range (based on comps): ~$290K–$310K
  Layout feedback: some buyers say it’s “a bit funky”
  Foundation: previously repaired with engineering report + warranty
  What’s happened so far:
  2 terminated contracts
  Buyer backed out over foundation concerns (even though it’s already repaired + documented)
  Second buyer (younger couple) got cold feet — worried about future repairs and costs
  Multiple showings, but:
  Buyers hesitant
  No current offers
  Feedback is inconsistent or nonexistent
  Current situation:
  Hard money loan (~12% interest)
  Already paid ~$10K+ in interest
  Carrying costs adding up monthly
  Reserves are getting low
  Options I’ve explored:
  Further price drops → hesitant to chase the market endlessly
  Refinance (DSCR/cash-out) → not viable due to credit + LTV constraints
  Renting → would be roughly breakeven/slight negative
  Mid-term rental → not a strong market here
  Reality:
  At this point, I’m trying to preserve as much capital as possible and exit cleanly.
  Questions for the group:
  What would you do in this situation to force a sale WITHOUT just racing to the bottom on price?
  Any creative exit strategies I’m missing?
  Would you:
  Drop aggressively into the $260s?
  Pivot fully to investors and take a clean lower offer?
  Structure the deal differently (terms, incentives, etc.)?
  For those who’ve had “problem properties” sit like this — what actually got it SOLD?
  Additional context:
  I’m not emotionally attached to the deal — I just need a smart, decisive exit at this point.
  Appreciate any real feedback from those who’ve been through this.
  
  did you have a subject to appraisal done before you closed on the purchase in the first place? if so, what did it come in at?
  
  what do you currently owe the hard money lender on the deal? without knowing that not sure how anyone can give suggestions on what you should do. also, when is your fianncing due in full?
  
  No I didn't have a subject to appraisal done. Because I don't know, when is this necessary for purchases- every time?
  My HML terms in October- however trying to get out of it way before then because of the interest.
  my other question was how much do you owe on the HML?
  
  and you SHOULD do an subject to appraisal using your scope of work so the appriaser can value the property after the repair is done. For example, a converted garage will NOT be given as much value per SF as the rest of the house or additional sq footage you will be adding. Also, the now loack of a garage vs other comps would also be a negatve adjustment. This appraial would likely have come in well under 305k. Your lender did you zero favors by closing on this house without requiring an appraisal.
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Preston DeanBusiness Member
Realtor · Fort Worth, TX · Member since 2021 · 779 posts · 368 votes
6mo
@Kay Sam
Have your realtor pull the listing off the MLS for 30 days and then relist it. It will give it a fresh new look and start the DOM over
This is a tactic that can work well as long as you keep it off the MLS for 30 days
[email protected]817-480-9452
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0 Reply
Ashish AcharyaBusiness Member
CPA, CFP®, PFS · FL · Member since 2017 · 5k+ posts · 3k+ votes
6mo
Hey Kay, this is definitely a tough spot to be in, but like others mentioned this happens a lot in early deals and it's all supposed to be part of the learning experience, so you’re handling it the right way by being realistic, asking questions, and focusing on a clean exit.

It seems like there are a lot of options right now in Garland, TX for buyers, so I would price it aggressively and really take potential buyers comments into consideration like others have mentioned above and maybe relist it if you're really serious about that clean exit. I also like Ken's comment above about the owner financing as an option above.

From a tax perspective, one thing to keep in mind is that if this ends up being a loss, it’s not all bad. Since this is a flip (dealer activity), that loss is generally treated as ordinary, which means it can offset other income, W-2, business income, etc. So while you’re taking a hit on the deal, there can be some tax relief that softens the blow a bit.

I would keep your options open for potential buyers instead of just narrowing in on investors, unless you are still considering renting it out short-term, it could help to stabilize the property and attract investors. A lot of investors want to see that it can be rented and what the numbers look like. Even if it’s breakeven or slightly negative, it can shift the conversation from “problem property” to “income-producing asset with upside,” which opens up a different buyer pool.

From a tax standpoint, that would shift the property from inventory (a flip) to a rental/investment property, which means you could start taking depreciation and other rental deductions. Those losses could potentially offset other income (depending on your situation).

At the end of the day, whichever route you take, this is one of those deals that teaches you a lot, pricing, buyer psychology, risk management, and exit strategies. Every investor has one (or a few) like this early on, and it usually makes you sharper on the next one. Take what you can from it and use it to set yourself up for stronger deals moving forward. Best of luck and happy to connect!
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Jorge VazquezBusiness Member
Real Estate Broker · Tampa, FL · Member since 2017 · 1k+ posts · 695 votes
6mo
Treat it like inventory, not a personal project. If it’s not selling, it’s priced wrong, simple as that. At this point speed matters more than squeezing every dollar, especially with hard money interest eating you alive, so I’d drop the price to where it actually moves or pivot to investors and take a clean exit even if you lose money, because you can always make it back on the next deal. And this is exactly why flipping shouldn’t be looked at as one property at a time, you have to treat it like a real business and run multiple deals. One deal will mess with your emotions, but a handful of deals gives you the real picture, some win, some break even, some lose, but overall you build consistency and learn how the business actually works.
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Gabe Waldrep
Investor · Argyle, TX · Member since 2014 · 112 posts · 73 votes
6mo
Did you take any of the suggestions that multiple people offered 2 months ago and implement them? I see you removed all pictures of the back yard. Did you choose to remove those instead of cleaning up the rear of the house and back yard? I don't think adding virtual staging will help alleviate the feedback from here and from potential buyers. I also still think that you are overpriced.
If you have repaired the foundation and have a transferable warranty, mention that in the listing description.
If buyers are concerned about future repairs and costs, then alleviate those by repairing issues or offer concessions.
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Landon ReidPro Member
Investor · South Jordan, UT · Member since 2026 · 62 posts · 38 votes
6mo
Kay — glad you're including the reports in the MLS notes now. That alone will save you from another buyer walking over something they never even saw.

On the price: $269,999 vs $264,900 isn't really about the $5K. It's about psychology. $269 still looks like you're "testing the market." $264,900 looks like you made a decision and you're serious. Signals urgency without screaming desperation.

But the real question: have you pulled it and relisted yet? Dropping from $274,999 to $264,900 on the SAME listing with 120+ DOM won't hit the same as a fresh listing at $264,900 with new photos and zero DOM. The reset is the move, not just the price cut.

If you can't pull it, then yes — drop to $264,900 and add a 2-1 buydown offer. Removes the rate objection on top of the price adjustment. Two barriers gone at once.

Rooting for you on this one.
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