Successful flippers, your input here!

[Will Barnard]

Has anyone here had recent success flipping residential properties to another investor WITHOUT running into sesoning issues for the investor buyer's lender?
Can you specifically explain how you avoided/circumvented the current standard seasoning of 6 months for a NOO loan (non-owner occupied)

Have you had success flipping to a retail end user and avoided seasoning issues of the standard 3 months on FHA loans?
Please explain.

[Harrison Painter]

My group has been buying, rehabbing and selling over 20 properties a month in Indianapolis, and we just launched this program in Atlanta, with 5 successful deals in October.

We basically are able to offer a No Money Down deal by selling properties with a private note and mortgage at a purchase price based on 65% of the current appraised value. Then the buyer does a rate & term refi out of the note within 45 days. No seasoning issues with this method.

The key is you must own your properties for Cash, buy them correctly, and do a sensible rehab for it to be successful.

We do not make a lot of money on each deal like the good ole days, but decent profits happen based on the volume we can do.

Our biggest problem at the moment is the 4 mortgage rule, but we are working on that! :lol: