BRRRR method using wholesalers

[Danny Mittler]

Hey I would like to know if I find a deal from a wholesaler can I use FHA loan or only cash ?

Thank you ! :)

[Michael Dumler]

@Danny Mittler most lenders will not account for the assignment of contract, and therefore will not dispurse funds to cover the wholesalers assignment fee. I believe there are methods to work around this but that is well outside of my wheelhouse. Also, FHA lending guidelines and requirements are strict when considering the condition of the property. Keep in mind, most wholesalers are brining deals to the table that will require a sum of capital to rehab the property. I've personally never heard of this successfuly playing out. I would consider going direct to seller and see if you can get an off-market deal yourself. Hope this helps!