All Forum Posts by: Stacy Brooks

@Martin Vehlow, we've been lowering the price.  We'll definitely consider including a home warranty.  There have been showings with no negative feedback.  Just seems the financing for folks in the price range falls through.  We've not been very happy with our selling agent, but trying to be patient with her.

Thanks for the info!

@Martin Vehlow Our asking price is $76,000. We've discussed the possibility of renting until our 6 months.  Just trying to check out all of our options.

We purchased and rehabbed a house with cash and a personal line of credit with a total investment of $39,000. The house is now worth around $75,000. The house has been on the market for almost 2 months and the carrying costs are really starting to take their toll on our personal finances.  

We had planned on doing a BRRR, but didn't realize when we jumped in that banks won't loan on a house that's been owned for less than 6 months (we've had it for almost 4 months). We really would love to sell and walk away from this house, but are open to keeping it and renting it, if we can do a cash out refinance. Any recommendations on finding financing or creative ways to stop the bleeding? Please be kind with your comments, this is our first flip and we're very much newbies who are learning along the way:)