What to do? Finish It or Cut the price?
I've been wanting to write the "last 3 years of real estate flipping" blog post but I still have this one nagging property. While I love investing I ran into a problem with an underperforming/overpromising contractor and I'm stuck.
Not to bore you too much with my back story or personality but I want everyone I work with to feel valued and really want them to hold up their word. I might even allow them a little "grace" in order to finish something.
I messed up BIG TIME and just let something go on too long...
That brings me to the question
Q: What do I do? Lower the price or fix up the home?
I have a home (3/2 ranch) with almost no curb appeal. I'm wondering if it makes sense to spend the money on the curb appeal, the finishing touches in the home or just lower the price?
I know the short answer might be "both" but obviously I'm working on a budget.
The question arises from that balance of profit vs time. Does anyone have a good rule of thumb they use to determine when to cut a home and move on from a flip?