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And any situation where comps are hard to find is a problem, too.

Jon Holdman, Flying Phoenix LLC

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Nike Sportswear Tech Fleece Windrunner Red

or on a cul de sac. Not only that, but the driveway was really steep and at an odd angle for access on the street's intersection.

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I been in this position. It was an expensive lesson. It was a hard money deal, my and my partner money. I knew it was on a busy street going in, but comps were solid. Fast forward past the borrower defaulting, building inspector issues and 15 months later then comps were much lower. Not that the overall area was worse. If anything, it was slightly improving. But because of the busy street, the only comps an appariser would pick were other ones on the same or another nearby busy street. With only a few low comps, the value came in much lower than expected. In the end, it was about break even for us. Between the loss on the sale and the interest we collected before the default, we came in with only a small loss. The borrower lost about $30K.

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A House on a Busy Street Priced Too High Won't Sell

Sometimes, the game changer for a challenging property is to offer some form of owner financing. Lease/Purchase, wrap financing, Nike Sportswear Tech Fleece Windrunner Red etc. can open the door to those who need a home, but can qualify for institutional loans. Of course, short term underlying financing may make doing a lease/purchase or wrap impractical. However, some private lenders may have money partners who are willing to hold a note for 3 5 years, allowing you to do a lease/purchase that gives you an up front option fee, cash flow profit for a few years, and a back end pay off on a premium purchase price.

Years ago I went to a Robyn Thompson seminar. Those of you that are familiar with her know that she is the undisputed "queen" of reahbbing. She was successfully rehabbing about 50 houses a year.

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After getting further information and later taking a look at the subject property, it was obvious why the house wasn't selling. The house was fixed up very nice, and was of a similar age and type of the comparables around it that were selling at their target selling price. But the house had one major flaw that the other houses did not have. It was on the corner of a heavily trafficked street, off an intersection, whereas the other comparables were all on quiet side streets Nike Tracksuit Junior Boys

I visited a real estate club recently and gave a presentation about using hard money loans to do more deals. After the presentation, I was approached by two novice real estate investors. The told me about a "flip" they did recently that Nike Hoodie Black Womens

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Some of the deal breakers for her were houses under 1000 sf and houses that had anything functionally obsolete or just so odd that folks wouldn want it. She used to say that there are just some things you can fix.

Not just busy streets, it could be ANYTHING that unusual. In this case, a high school next door hurt, too.

still had not sold at their asking price. They had their brother in law's cash in the deal longer than they anticipated, so they wanted to do a hard money loan on the property to cash him out.

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One of the things she said was to choose your buying criteria and stick to it. Don get emotional and yourself into" buying a house.

A beautiful house, all remodeled with the right upgrades, but not selling at the same price as the other comparables. The house is priced too high because of its poor location on a busy street and intersection. Being first time real estate investors, this couple did not factor this into their numbers on this property before they purchased it. They will sell the house eventually, but they may not make money on this one. A good lesson learned for two first time real estate investors

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