Skip to content
×
Try PRO Free Today!
BiggerPockets Pro offers you a comprehensive suite of tools and resources
Market and Deal Finder Tools
Deal Analysis Calculators
Property Management Software
Exclusive discounts to Home Depot, RentRedi, and more
$0
7 days free
$828/yr or $69/mo when billed monthly.
$390/yr or $32.5/mo when billed annually.
7 days free. 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.
Buying & Selling Real Estate
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 almost 8 years ago on . Most recent reply

User Stats

226
Posts
97
Votes
Kalimah Jenkins
  • Investor
  • Marietta, GA
97
Votes |
226
Posts

Selling a home immediately upon purchase - seasoning, wholesaling

Kalimah Jenkins
  • Investor
  • Marietta, GA
Posted

Can anyone assist with mortgage bankers or brokers in GA who can loan on a property that has not been seasoned at all.  Here is the situation:  I am purchasing a property on May 1 that I had every intention on flipping.  Good numbers, great school district, East Cobb, GA.  Highly desirable.  Now, a family member saw the property and wants to buy it from me at a premium (I am of course getting it under value).  We are doing a purchase sale contract for May 1.  I am not doing any work on the property -- essentially just wholesaling what I've purchased.  The home is in good, livable condition, just not updated.  The price that the family member is paying is still under value.  The family member needs to get a mortgage though.  Good credit, income, etc.  The problem is the seasoning.  Also, I can't seller finance because I am paying cash and need my money out.

Any ideas, suggestions on getting this deal done?

Loading replies...