Can't sell first flip may try BRRR method what to do...
I'm in to my first year of flipping and just finished my first rehab in a property in PA can't get any bids close to what I'm asking - two price reductions later and just hear crickets. Thinking of just renting it out and cash out refi, however since it's my first refi, rate is high and getting 70% LTV. Interest only for first year until I have a tenant and credit score goes up then convert to 30 yr fixed at lower rate. Advise? Should I keep on market and hope for the best or move forward with the refi? FYI - I own clean and clear.