120 DOM Garland Nightmare Flip

[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.

[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.