Hello All, my lenders are letting me know that the first time homebuyer money should be coming out sometime in July. This is $10,000 dollars towards down payment and closing cost. In order to lock in the money the buyers need to have their new home under contract. Now, you might ask yourself "how does this benefit me as an investor?" The simple answer is that now is a great time to throw up any vacant rentals that you have coming up. It might not be bad to throw up any current flips you may have going on. It becomes a feeding frenzy until the money runs out (typically last about two weeks). If you are looking to purchase a new flip or rental I suggest staying away from the MLS while the money is out. I'm throwing three properties of my clients up on the MLS $10,000 more than I estimate they are worth. If you have any more questions I'm happy to help.
