Investor · Alpharetta, GA · Member since 2008 · 62 posts · 6 votes
Hello, what can I do to sell a house that I have. Its a fix/flip but a high dollar house in 700's but the profit is pretty good because all the house in the WC Gates are listed for 1+ million. " I cant figure out how to sell and get investors or agents back in the door of this house." Its been on the market for 1+ year and was given to me to sell because I can move hard to sell houses. I get it, its high but how do I find buyers that will buy a fix/flip at this level???? It needs work but mostly cosmetic. I don't know what to do... 99% of the time I can sell anything gutted and damaged it can have 4 and nothing in between and I can find a buyer- this one has taken me for a ride. Just can't get people thru the doors.
Investor · Kent, WA · Member since 2015 · 624 posts · 274 votes
9y
Property is listed for 700 and fixed up, it will sell for $1 million. That's 70% ARV. The rehab is not included in that. I'm guessing that's why it's not moving. The margin is not enough for a fix/flipper.
Investor · Palmetto, GA · Member since 2014 · 190 posts · 77 votes
9y
O.K. the bank owns it...that kills any creative strategies. Try this...there is a huge influx of people from the Northern states moving to Atlanta, especially New York. I would find out how much it is to run a small ad in The New York times. Let Ad read like this ..."Moving to Atlanta? Gorgeous Million$ bank owned property for 775K" Call 770-XXX-XXXX for Pics. You will get calls . I want my cut.
Hello, what can I do to sell a house that I have. Its a fix/flip but a high dollar house in 700's but the profit is pretty good because all the house in the WC Gates are listed for 1+ million. " I cant figure out how to sell and get investors or agents back in the door of this house." Its been on the market for 1+ year and was given to me to sell because I can move hard to sell houses. I get it, its high but how do I find buyers that will buy a fix/flip at this level???? It needs work but mostly cosmetic. I don't know what to do... 99% of the time I can sell anything gutted and damaged it can have 4 and nothing in between and I can find a buyer- this one has taken me for a ride. Just can't get people thru the doors.
Your list price is too high. Drop it until it sells.
Real Estate Professional · Foley, AL · Member since 2016 · 56 posts · 10 votes
9y
Hi Jill, it seems that your biggest issue is getting agents and brokers back in the door. Well my suggestion is to host a party. Cocktails and hors d'oeuvres maybe after 5 pm. Offer some incentives on the commission to the agent that brings a buyer. Maybe hire a DJ or local band for entertainment and offer one very cool door prize. You will need to bring in tables and chairs for the guest. Brokers and Agents love a good party. Don't worry, there's a buyer for every house and you will find yours soon! All the best, Lisa
Jill H. Try to see if the buyer agent from the sold hold can help you out. That is a very nice house for 700k, if that was in LA, it would probably he a 1500sf house in a mediocre location. lol.
I am from Vista CA - I know LOL
What made you downgrade to GA from CA? Haha. To help you better, it is best to "swim with where the fishes swim", contact agents that has sold 600-1m within the county, pretty sure it will help. 50% of something is better than 100% of nothing. Good luck.
Developer · Hobart, IN · Member since 2014 · 773 posts · 225 votes
9y
With all the attention on fix and flip properties seems like targeting home buyers that can put their own "touch" on the property would be the way to go. Seems like the house is in good shape overall so someone should be able to get the financing to do so.
Next option is take all the feedback all the surrounding days on market and provide that information to the bank and make a case to lower the price. Or possibly convince the bank to do some minor repairs to the property to help move it and who knows maybe even list for a little higher. Depends on the bank of course but that would be going above and beyond as an agent.