As we our all aware sellers markets aren’t as favorable at this very moment. I currently have a flip sitting on the market for almost 2 months we have done some pricing corrections but no bites yet . What is the best exit strategy to stop the bleeding in this market ?
Rental Property Investor · Indianapolis, IN · Member since 2018 · 4k+ posts · 4k+ votes
2h
Rent it out.
You can get between $1300-1900 per month in C-B class neighborhoods depending on bedroom count. If it's fully remodeled you'll be on the high end. Rental demand is high. Less people can afford or are willing to buy at 7%+ rates.
Real Estate Agent · Columbus OH · Member since 2018 · 1k+ posts · 1k+ votes
2h
rent it, or figure out the main issue, is it price, or is there something "weird" about the home or design that is keeping it stagnant? for instance is there no off street parking in an area that people generally need or want off street parking? not sure of your situation or market specifically but finding out the real issue if there is one is generally what lets you move forward in the clearest way, but yes if you can't sell and aren't interested in dropping the price to where it will sell then rent it long term or medium term is likely the best angle till you can figure out how to sell.