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Updated about 5 years ago on . Most recent reply

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Robin Jones
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How do you get out of a flip that’s not selling?

Robin Jones
Posted

I have a property that has been on the market since November in Spring, TX. Took a hard money loan out on it to cover purchase and repairs. Hard money loan is about to expire. I know what my lessons learned with the property are. However, what are some strategies you would suggest to get out of this bad situation?

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Lien Vuong
  • Real Estate Agent
  • Boston, MA
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Lien Vuong
  • Real Estate Agent
  • Boston, MA
Replied

Try to get into traditional financing and renting the property out. Perhaps it would be good to get a lease to own tenant also to hold the property without further bleeding. 

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