All Forum Posts by: Kay Sam

@Jules Aton

I believe it's a bit of all of the above.  Buyer supposedly said, there were various items on the 4 point list that were too much to fix.  We offered to fix-once we knew what it was.  Buyer decided he'd throw away his $600 inspection fee & "keep looking because he's not in a rush."  So to me it sounds like he had a bit of cold feet & perhaps 4 point issues being a concern.  

Trying to get a copy of the inspection & or get my own done.  

@Benjamin Louie

Thanks for your reply.  Is this really how 1st flips go? This seems to be extreme. 🤯

I've already dropped price from $274k to $259,900 from June to 8/27( last price drop).

I've checked with a few investors & they'd buy it for UNDER $200k. That means the HML Company will get their money back & I'll lose some.

So I was hopeful about the deal I had making it to the table & the buyer's have pulled out again. This is my 2nd offer being signed since house has been listed in June, where buyers pulled out. Both different reasons: #1 was the sinkhole issue (remediated & documented), #2 now "4 point issues" that "were too many to fix." I am basically out of time in ab out 20 days to get this house unloaded. The this home is going back live today at same price. We're going to call an inspector so we can have a report & fix anything that might be on there to get ahead of any future reports. The problem is I have NO TIME to waste.

Other options such as LTR, STR will not work numbers wise to cover monthly carrying costs. The best option I had to recoup has been market price. I don't want to foreclose clearly. DSCR loan is not really an option as my TransUnion credit score is 639 & most want 640 or 650.

What else can I do to get my money back & move forward? I feel like I'm at a lost completely as once again this is the rug being pulled from underneath me. This is my 1st SFH fix & flip and it's going horribly. On market since 6/13/2025. Offer 6/27/25 pulled out, offer again 8/27 pulled out today on damn Labor Day...

HELP!

@Jules Aton @Doug Smith

So I was hopeful about the deal I had making it to the table & the buyer's have pulled out again.  This is my 2nd offer being signed since house has been listed in June, where buyers pulled out.  Both different reasons: #1 was the sinkhole issue, #2 now "4 point issues" that "were too many to fix."  I am basically out of time in ab out 20 days to get this house unloaded.  The this home is going back live today at same price.  We're going to call an inspector so we can have a report & fix anything that might be on there to get ahead of any future reports.  The problem is I have NO TIME to waste.  

Other options such as LTR, STR will not work numbers wise to cover monthly carrying costs. The best option I had to recoup has been market price. I don't want to foreclose clearly. DSCR loan is not really an option as my TransUnion credit score is 639 & most want 640 or 650.

What else can I do to get my money back & move forward?  

@Bruce Lynn

I appreciate your reply and definitely feel the "go where the rehab takes you." 

Your insight on inspectors, what all are they looking for regarding permits in Texas?  Is every county different on what needs permits before beginning work?

Higher DOM is what I am trying to stay away from completely.  

Hi Rod!! I appreciate your feedback.  I definitely have seen the same with wholesaler's  numbers not adding up. 

I'll keep an eye out for the zips you mentioned as well. What kind of renovations do you typically do? Basic stone countertops etc or a notch up? 

TIA. 

*Tried to edit title & couldn't 😖

Hi All!! I'll be venturing into the DFW market next & wondering what zip codes are a sure bet (or as close as 1 can be) for a great ROI? 🤔🤔😶

I've done a bit of research & it seems Plano, Duncanville & some pockets of Dallas do well. Clearly lower DOM is key. 40 days or less. A challenge it seems for lower DOM. This will be my 2nd SFH flip....& 5th flip overall after starting with mobile homes.

I'm currently locked in with a wholesaler. This was after trying to tackle 2 flips in 1 year ( bad idea as a 1st year flipper). Luckily I was able to keep my deposit.  So my point is, I can secure it quickly.  I digress. 

Pointers & ideas welcomed.  TIA

Hi Kerlous! I appreciate your feedback. How does one know what's "over improvement?" Especially when everything might be outdated anyways? So maybe not stone everything if it's not needed. Answer this though, if I don't do basic granite & do like formica wouldn't that limit my ROI? 🤔🤔 Then Id wonder why another house sold for more.