Using FHA financing for a flip

[David Burgraff]

I'm wondering what the community thinks about trying to flip a home with FHA financing but never moving into it. Am I legally allowed to purchase a home with Owner-occ financing, never move in, fix-up and sell? Then repeat?

If so, is it realistic to think that I can finance a property in very poor condition with an FHA loan at 3.5%?

Thanks for any advice

[David Mackin]

You're not legally allowed to purchase with FHA financing without ever moving in. That goes for any Owner-Occ financing.

Important to note that FHA has stricter guidelines on livability If the poor conditions you speak of don't meet their standards, you won't receive the financing for that property, even if you intend on living there.

Hope this helps.