Skip to content
×
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
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Private Lending & Conventional Mortgage Advice
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 17 years ago on . Most recent reply

User Stats

40
Posts
0
Votes
Dustin Wise
  • Real Estate Agent
  • Buena Park, CA
0
Votes |
40
Posts

FHA title seasoning?

Dustin Wise
  • Real Estate Agent
  • Buena Park, CA
Posted

I'm currently putting together my business plan for fix and flips in Southern California. We've found some projects that could be turned around quickly since they are condos that only need minor work.

The rehab would probably take about 3 weeks so if priced properly I could probably have a buyer as soon as 3-7 weeks after I acquire the property!

Recently I was told about a title seasoning issue with FHA. It appears that unless I own the property for more than 91 days any interested buyer can not use FHA financing.

That's a problem. FHA is making a come back and people are really starting to realize the benefit. 3% down, gift funds allowed, non-occupying co-borrowers and on and on. I'd basically be cutting out a huge sector of the buying pool.

I'd be buying these properties as a short-sale or REO in most cases. Does anyone know if there is truth to this title seasoning issue? If so is there a way around it? What about buying in an entity and not as individual (which I plan on doing anyway for tax and liability reasons)? Help!

Loading replies...