Skip to content
×
PRO
Pro Members Get Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
$0
TODAY
$69.00/month when billed monthly.
$32.50/month when billed annually.
7 day free trial. Cancel anytime
Already a Pro Member? Sign in here

Join Over 3 Million Real Estate Investors

Create a free BiggerPockets account to comment, participate, and connect with over 3 million real estate investors.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
The community here is like my own little personal real estate army that I can depend upon to help me through ANY problems I come across.
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 4 years ago,

User Stats

20
Posts
4
Votes
Jason DeMauro
4
Votes |
20
Posts

203(k) Strategy Question

Jason DeMauro
Posted

I am not really sure if this is an option but I wanted to reach out to the community help me better understand. 

Scenario - I found a triplex that had BRRRR potential however, I do not have the funds to purchase and rehab. My thought is that I could use FHA 203(K) mortgage. Although, I am unable to satisfy the seasoning period, so I have my brother apply for the mortgage and he lives in one of the apartments. The work gets done per the mortgage. After the mortgage seasoning period, I have the property appraised, buy from my brother, settle the mortgage and use the proceeds to secure the next property.

Am I going to jail?  Can this work? 

Loading replies...