All Forum Posts by: Carl Todd

Yes I agree with @Thomas B.

 Its not on zillow, and the pictures on realtor .com are terrible. I would recommend getting some some really good pictures turn on all the lights do it on a bright sunny day etc. From what little I can see the paint might be just a little dark for the house, it might be the pics too. And here's a little trick that can drive a lot of traffic, get two or three open house signs from your realtor and make sure you have fliers and some of your realtors cards and go hang out at your house turn all the lights on etc. and show it yourself, tell people about all the hard work and everything you fixed, You'll be amazed at how many people stop to look and after you show it about .... times you'll sell it. especially if you can make a deal right on the spot. 

Thank you @Bruce Olsen

 That was a lot of very good advice I'm going to reread it tomorrow So I Can digest it better, I'm getting a little bleary eyed and I should go to bed soon I have to get up very early and go to work at my regular job. 

Thanks @Jay Hinrichs

I'm pretty sure I'm going to do as you said, lower the price soon, and bite the bullet. I think I'm more fearful than beating myself up, at least at this point. and your right rents are about 1500 a month. I also just met @Jmartin I went to his meetup it was very informative, and he's a really nice guy.

@Dawn Brenengen  @Jeff Morelock

Thank you both for responding. The CMA I got that a year ago when I was purchasing the property.And property values have risen significantly since then, I think I got a really high CMA and believed it. And I made the newbie mistake of putting high end finishes in. I thought, mistakenly that I would be able to break the price point a little. Apparently not so. I was going to stage the property, but my agent told me not to, Nobody has ever staged a property in this community, and now I can't afford it I'm pretty broke. And Jess, the realtor told me she would let me out of the contract if I wanted too. It's been on the market for 95 days and it was under contract for 35 of those days. It fell out due to buyer's job loss.

P.S. I'm in california staging out here costs 3-4k especially since there's some travel involved.

Thanks @Jeff Morelock                         

I 'm going to learn how to do this. Also can you list as a FSBO on zillow and realtor.com etc.

@Walter Davis

I've dropped the price 10k twice. I'm at the realtors CMA price right now that she gave me a year ago. Can't use the properties across the street it's another world. There's a house 2 or three doors down for the same price but not as nice. This is a very eclectic neighborhood and i'm trying to figure out how to drop the price more without losing everything. I'M learning that a realtors CMA is not necessarily accurate.

Thanks @Steven J.

I Already talked to the 1st lender he say's I have 2yrs. When I was getting the loan he said if I needed to I could refi with his guy now that it comes down to it that's off the table. The other lender is my friend. And I absolutely will pay my lenders 1st, especially since I want to continue doing this Right now my lenders are very happy they're making a killing off of me.

 What do you think about losing the realtor and offering 3.5% to the buyers realtor?

Thanks @Gavin S.

 I'm not on facebook due to E-Mail eats up enough of my time, and I noticed that people get totally trapped by it Like my wife (sorry babe). But it certainly seems to be the wave of the present. I should probably take the time to learn how to use it especially since it seems to have such an addictive nature.  

Hello BP community,

I,m Carl Todd in a flip thats flopped.

This post is really hard to do after reading so many success stories here. 

I'm a newbie investor in my 1st flip, and I'm running out of options and losing money rapidly. I'm looking for help, advice, and a mentor. I have a property that I made a lot of mistakes on. I think it's priced right but it's not selling ( on the market for 95 days ). It was sold but fell out when the buyer's job fell thru.                                                                           The property is listed at 300k.                                                                                              My holding costs are 3k per month.                                                                                           This is what I owe to my investors etc.                                                                                        115k to a private money lender.                                                                                               90k to my friend.                                                                                                                         35k to a home depot credit card.                                                                                               40k to myself that it looks like I'm going to lose most of.                                                         6% realtor fees + closing costs it also looks like the HVAC is going on the fritz another 5-6k.

I've had the property for about a year it was supposed to be 3-6 months. I was thinking of letting the realtor go, so I can lower the price, fix the HVAC and still pay my investors and the credit card off after closing. Marketing my own property is something I have no Idea how to do. So i'm getting a little scared, and becoming indecisive and I'm looking for a creative Mentor with flipping experience, who is honest and has integrity, and hopefully someone I can meet face to face here in the S.F. bay area. I'm willing to PAY the right person, or trade work etc. 

I thought I was fairly well educated before I took on this flip. I read lots of books did seminars etc. But I guess not. 

I'm highly motivated and willing to do all of the work necessary, whatever it takes to finish this flip and move on to the next one. I just don't know where to begin.

Here's the address to my property so you can look at it on zillow etc. and tell me if I did anything wrong. 18738 North Shore Dr.  Hidden Valley Lake, Ca 94567

 I apologize for the the disjointed info in this post. I'm just a little bit stressed.

I'm looking forward to any responses and advice. Have a great Memorial day.

@James Wise

An aha moment Thank you @James Wise