Advice Needed for Spending Too Much on Fix/Flip

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I purchased an old, 1ba/1ba under 1000 sq ft & it needs full rehab. Original plan was to fix & flip but I’m reluctant to go through with rehab & am trying to sell it as is for costs but buyers want to give me a 1/3 of what I’ve put in. I want costs since hard $ is involved. Any ideas given specifics? 

Tamesha, what happened to your original plans to renovate the property? If you have an interest only / renovation loan from the bank, they probably gave you 6 months to a year to complete the project. Try to follow through with your plan and make changes when needed. Concentrate on the big ticket items using a contractor such as replacing roof, plumbing, electrical meter and breaker boxes. Try to find a contractor that can do it all or most everything. Most of the other things can be replaced or repaired with friends and family. If it can be fixed cleaned or painted, these things could save you money using friends and family. If your selling it to investors or not, the words "clean and bright" should be the goal. Good lighting, new paint, clean flooring, clean yard ect. Clean and bright. Replacing rotten wood isn't that expensive. A good contractor knows how to save you money. What I do is tell them what you want done then let them do it. I don't tell them "how" to do there job. Tell them replace the rot then clean up the area then we'll move on to something else. If you don't or can't sell the property, refinance the property and get your out of pocket money back as long as you can make $225 to 250 per month in profit. So the monthly rent minus the mortgage, minus the escrow (monthly taxes and Insurance) equal monthly profit. This can buy you time to regroup if you still want to sell. You can always do a "contract for deed". This will free your hands of any repairs that may come up with the property and still make a monthly profit plus the up front money. If I can do it, anyone can do it. Just takes a little nerve . Good luck and Merry Christmas.

Is the property in a livable condition? If not, you are only advertising to investors since no one else can get a loan. That will bring the purchase price way down.

Are you going to lose money on it? It might make more sense to finish the project and sell at a minor loss rather than a big one. Another exit strategy can be a refinance.