All Forum Posts by: Jake Loughrey

Lower asking price to $209k or less and hope you get a bidding war or at least 1 offer?
Move in to it as your new primary and sell your current primary?

Ask your hard money for an extension, higher rates, more downpayment?

Get an ibuyer offer from Opendoor/offer pad anyone like that.

Anything else you can think of that’s better than walking away. At least with hard money they shouldn’t come after you for any shortages if you do walk away.

Thank you for the advice. I dropped to 219k and have multiple offers coming in now. My first post here and my first flip. Thank you Bill

2 Votes

Pittsburgh, Pennsylvania

https://www.zillow.com/homedetails/746-5th-St-Oakmont-PA-15139/11447128_zpid/?utm_campaign=androidappmessage&utm_medium=referral&utm_source=txtshare

0 Votes

Pittsburgh, Pennsylvania

I have my flip for sale but it's not selling. The process has gone on for 1 year and has been for sale for 3 months. My agent over valued and listed high. After a few price drops, we had it under contract. The would be buyer made ridiculous demands and essentially used a few minor issues on inspection report to terminate. Since then I've continued to drop price but no luck on a sale. With the high listing price and sale fall through, I believe people think something is wrong with it. Its an older house but i did everything in house(I'm a contractor) and did an excellent job. Within this journey my credit dropped alot. From 700 to 575. I'm out of time on my hard money loan and I need to refinance, but credit is now damaged. Richer values put the house at 299k ARV and comps support this. Only 187500 on the note. Home is in desirable Oakmont, PA. Does anyone see any options for me here? Any lenders who may assist?

1 Vote

Pittsburgh, Pennsylvania

All Forum Posts by: Jake Loughrey

Jake Loughrey has started 1 posts and replied 3 times.

Post: Flip wont sell. Need refi with subpar credit.

Post: Flip wont sell. Need refi with subpar credit.

Post: Flip wont sell. Need refi with subpar credit.