JUST CLOSED A REO FLIP!!

[Andre Scott]

Just closed a reo flip and profited 64K in 90 days due to the FHA seasoning! :D

[J Scott]

There is no good way around the FHA 90-day seasoning. The "waiver" is only a waiver for banks and other asset managers who have foreclosure inventory -- it's NOT for investors who are looking to flip the property.

If you plan to flip to FHA buyers, expect that you'll have to wait 90 days before you get the property under contract and then another 60 days to get to closing. Some lenders can shorten this time period, but it depends on the specific investors/underwriters they're working with.

If you really need to work around the 90 day seasoning, you can either:

- Work with small, local banks to arrange financing that is similar to FHA, but that is funded in-house and therefore not subject to FHA rules;

- Put together a lease-purchase that will get your buyer into the property prior to 90 days, and then you can close after the seasoning period.

Sorry, but there are no "magic bullets" around the FHA rules...