I Took Out a HELOC To Flip a House and Now I Can’t Sell It

The Ramsey Show Highlights

Ramsey Network

Self-improvement, Education, Investing, Business

4.6 • 682 Ratings

🗓️ 5 July 2023

⏱️ 19 minutes

🔗️ Recording | iTunes | RSS

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Summary

The Ramsey Call of the Day is a quick, daily dose of advice on life and money in under ten minutes. Hear from experts like Dave Ramsey, Ken Coleman, Rachel Cruze, Dr. John Delony, George Kamel & Jade Warshaw. Part of the Ramsey Network. Delivered to you five days a week. Learn more about your ad choices. https://www.megaphone.fm/adchoices Ramsey Solutions Privacy Policy Learn more about your ad choices. Visit megaphone.fm/adchoices

Transcript

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0:00.0	This is the Ramsey Call of the Day, part of the Ramsey Network.
0:10.8	Nate is in Austin, Texas.
0:12.5	Hi, Nate.
0:13.0	Welcome to the Ramsey show.
0:14.6	Appreciate it.
0:15.5	Sure.
0:16.0	What's up?
0:17.2	So I'm trying to find out about 12 years of trying to convince my wife to let me buy a flip house.
0:23.7	Finally convinced her after saving up about $50,000 to do so.
0:27.7	And she didn't want to do it, but she made me promise I wouldn't try to rent it out that we would sell it at the end of it.
0:33.8	After a three-month construction duration that was supposed to be.
0:40.1	This was back in November of 21.
0:43.4	I bought it, and we're now a year and a half later.
0:45.2	That three months has turned into a year and a half.
0:50.3	And finally, after three contractors, got the house finished and put it on the market in April,
0:54.1	and it's been on the market for a little over 60 days now with showing or two every
0:59.2	other week or every week and no offers or anything like that.
1:02.5	I've dropped the price from 240 down to 217 and still not seeing much more movement.
1:10.5	So this is harder than they say on TikTok, huh?
1:15.5	Much harder with the residential contractors.
1:18.0	It's a different...
1:18.8	How much have you lost?
	...

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