Almost purchased my first flip...disappointed

[Staci Craft]

Today my husband and I took our contractor to a house we want to flip. After spending a lot of time walking through and accessing everything it needed, we ran the numbers and it needs way too much work for what the current owner is asking (rather what we think she’ll accept). We decided to walk. I’m disappointed now because I was able to put money together to get the loan and I got my hopes up to jump on this particular house. It’s a farmhouse within walking distance to downtown built in 1900. Has anyone else walked from a house they had high hopes for?

[Brian Pulaski]

I walked away from making an offer on an off market house. The seller had a “current appraisal” at nearly double what my offer would have been. A week after I told her I wouldn’t make an offer, she came to me and told me another flipper offered her significantly less than I had planned to offer. I told her my price and she accepted it an hour or so later.

Personally I say make that offer and let them know it’s business and they can pass or accept.