Have a friend who just bought a MH for $350, plans on fixing it up and reselling.

New investors here with simple question. Had a great deal fall into our laps. Family needs to sell Dad's 2/2 condo in gated community fast. He now lives elsewhere with 24 hour care and family needs cash now. They told...

The best way around deed restrictions are:1. a fannie mae deed restriction has a TIME element and a PERCENTAGE element. 3 months and cant resell for 120% of the purchase price. 8 times out of 10 my wholesale fee isnt 20% of what I bought it for, so I can get around that by not being 120% of what I bought it for.2.

Kalyn everyone wants cosmetic properties.You will find regular home buyers do not have to resell and will accept way less of an equity position and pay a higher price to get a home cheap with a low monthly payment.Their goals are totally different than a rehabber.This is why a bunch of success is taking on properties where a home buyer is not a competitor but it drives down the price with the property not being loan ready.If your offer of cash is just slightly lower than a finance home buyer the asset manager might still choose you.If there is a wide difference the asset manager might take a shot with the finance home buyer to net more.It depends on a bunch of factors which is being at the right place at the right time.You also have to understand local,regional,and national banks make decisions in different ways.Kayln are you offering to let the listing broker keep all the commission are are you getting greedy and asking for the co-op??

We have ample capital, and plan to take a substantial "first loss" position in all properties, bearing losses to cushion the lenders.Also, when you say 65% of "purchase+rehab", for a reseller like yourselves, are you talking about MemphisInvest's cost, or are you talking about the higher purchase price of your ultimate buyer, reflecting MemphisInvest's reasoanble profit margin on the re-sell?

I have heard about a plan where the government is covering the cost to refinance ones home.I bought my first and only home about 5 years ago with the intent to fix it up and resell it.

Being on a busy street shouldn't have a negative effect on renting but will have some draw backs when it comes time to re-sell.

Then you can resell the property to the end buyer on the 31st day.

Don’t forget to get your hold open policy for resell.

Especially when you try to resell it.....