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Updated about 11 years ago,
Flipping a Fannie Mae property
I'm looking at a Fannie Mae property and my realtor told me this:
That house is a Fannie May product. You would have to occupy the property for a minimum of 1 year. Would only be able to sell for 125% of your purchase price, like we discussed earlier today. It would be financable if you wish to do so. You could also rent it as well under Fannie Mae.
Is this the guidelines for every Fannie Mae property, the 125% means if I buy for $45k, I could only sell for $56k. Sounds rediclous.