The home also needs to be built after 1975. 

Conventional lending requires tax returns, good FICO and reasonable DTI. 

On your tax return you would report the proceeds, subtract costs and proceeds paid to seller, then the remaining profit would be your flat fee.

Since the trust is a disregarded entity, the benefit is bypassing  probate, not tax issues or liability concerns. 

That has worked out much better.Some of my 11th hour cancellations end up deciding to come after all. 

Quote from @Christina Venegas: Quote from @Dominic Mazzarella: Quote from @Christina Venegas: is it possible to do HELOC on a primary home that was purchased 6 months ago with 5% of down payment, the property was $145k and it was appraised at that time for $160k. i need advice from investors and lenders, if anybody knows some lenders that could help me I would really appreciate it, thanks for taking your time to respondIt’s definitely possible to get a HELOC on a primary home, but most lenders have a seasoning periods which are typically 6-12 months after purchase before they’ll allow it.

After doing some research, I became less convinced than I was to start with.

@Samuel Coronado I’ve worked with a few lending options that have no seasoning requirements and allow you to borrow based on the appraisal or after repair value irrespective of how long you’ve owned the property for.

Quote from @Robert Briggs: Going to sell one of my rentals (Houston Area)  and need to finance 30-40k and repay the rehab/ make ready loan after sale. 3-4 months .

Our team along with clients all are heavily investing in the area, and it is a strong place to start. close proximity to New York and New Jersey, paired with extremely affordable property/taxes and high rental demand make it on most people's radar.