All Forum Posts by: Kay Sam

 Hello Terrance! I appreciate your reply & support. I've definitely gained a lot of knowledge in the last year & can't wait to see how it helps me moving forward. 

For my current SFH flip, I'm selling it traditionally on the market. Just received an offer & under contract since joining BP. Although it's WAY lower than what I'd hoped for, I have to let it go. Keeping it longer at this point runs me the risk of extending my HML, renting out (which would be short $ to cover payments), or worse foreclosure. Just praying we make it to the closing table & I'm good. I'll be breaking even. However this will be my battle story!

In the last 12 months, I tackled a tough market in FL, fought stigma with foundational issues, had buyers walk & I'm at the finish line again. I'm looking at it as I've EXECUTED an entire SFH flip out of state 1st year with many obstacles. It's only UP from here.

What's your story? 

Thanks for the clarification.  I am dedicated to refining my approach & getting to the level where I can pivot easily & have more capital overall. Florida will see me again.  

Hi Jules. I'm definitely taking the deal. With your " ..." regarding FL are you referring to the slow market or something else?  Yea I thought things were moving but it slowed terribly. I'm thinking of Dallas area next. Thoughts?

Howdy!! I'm reading this & baffled still. I had none of these issues &  still sat on market a bit. I wish I had multiple offers. 

I posted about week ago regarding a fix/flip deal I'm in. 1st year flipper here, started with 3 mobile homes in rural town in Illinois used my own money. Leveled up to SFH- bought my 1st SFH near Tampa. I used my $ and also HML. I listed it in June had an offer 2 weeks later- buyers walked away over sinkhole stigma. Now here we are almost September and I have another offer well BELOW asking. I've dropped from $274K to $259K and they low balled me. Long story short I will be BREAKING EVEN accepting this offer. Trying to look at the silver lining. I had no mentor, no partner in the deal other than my HML, no peer support, fought sinkhole stigma, worst time in real estate market ever ESPECIALLY FLORIDA, buyer walked away, pop up fixes with HVAC system AFTER renovations were completed. I also never fixed & flipped anything until July 2024 with the mobile homes. I haven't really lost any money accept the $5K with the mobile homes. Trying to NOT feel defeated. But clearly we know all the risks and effort it takes from start to finish. I bought the SFH April 2025 planned for 3 months and obviously the market tanked around May.... I feel like I'd give it one more go and see what happens. Hell of a tuition. How else would you all look at this deal? SMDH. TIA!!!!

@Zachary, I have been contemplating lowering the price just to get it SOLD.  Especially since a few homes in the neighborhood recently went pending at $250K and $229K.  I'm just amazed it went pending in the first 2 weeks or so and now haven't had another offer.  You're saying if I lower it, the appraiser won't appraise it for higher than the list price even if it is worth more?

Thanks Nick! I would probably see what other options are available such as DSCR. I def. do NOT want to foreclose. I cannot lose.

Thanks for your reply Matthew. I have been tossing around the idea of DSCR loan and definitely need to look into this. My credit isn't the greatest yet so, there's only a few companies I'd probably be approved with. I am surely open to seeing what your numbers are. To extend with my current HML is possible, but that defeats the purpose of me trying to lower payment. I don't have the cash to pay it off unless this property sells FAST.

Hi everyone! Newer investor here with 1 year under my belt who bought my first fix & flip SFH in Holiday Florida. Home is a 3/2 with a garage & fully updated with luxury finishes. Sinkhole history which has been professionally remediated already & documented with county. This also was NOT disclosed to me when I bought it through Northwestern regarding sinkhole history. I used part of my own funds & the rest a HML which is nearing maturation FAST! I listed the property 6/13, went pending 6/25, then buyer's pulled out. Now back on market 7/17 & it's having showings but NO OFFERS yet.
What other exit strategies are viable if holding & renting it out isn't an option???? Renting it out for ME in this deal isn't possible due to liquidity & the ROI renting won't cover HML monthly PLUS carrying costs.Anyone have ideas to get me out of this deal & still make something? I have about 35 days to get an offer & get to closing table. Any positive & realistic options even networking to get this done would be amazing. Yes, listed with a realtor right now. Started at $274K, lowered to $269K (offer where buyers pulled out) currently at $259.9K and I cannot go lower.TIA

Hi All! New to the investor world. Started fixing & flipping mobile homes in summer 2024. Didn't make a profit, however LEARNED a lot & didn't lose much (less than $5K if that). Now I've sourced HMLs, a few GC's in the Texas & Florida market & ready to keep pushing. I'm currently in my 1st deal with a SFH that I did as Fix & Flip & needing to get out of it ASAP. I want to make SOMETHING & obviously keep going to my next deal. Nice to meet you all & I hope to network. Hoping for encouragement as I'm going this alone which is challenging enough; therefore a likeminded group is necessary.