For purposes of this Act, the following definitions shall apply:(1) FINANCIAL INSTITUTION.—The term ‘‘financial institutions’’ means any institution including, but not limited to, banks, savings associations, credit unions, broker-dealers, and insurance companies organized and regulated under the laws of the United States or any State, territory, or possessionof the United States, the District of Columbia, Commonwealth of Puerto Rico, Commonwealth of Northern Marianas Islands, Guam, American Samoa, or the United States Virgin Islands, and having significant operations in the United States, but excluding any central bank of, or institution owned by, a foreign government.(2) SECRETARY.The term ‘‘Secretary’’ means the Secretary of the Treasury.(3) TROUBLED ASSETS.The term ‘‘troubled assets’’ means residential or commercial mortgagesand any securities, obligations, or other instruments that are based on or related to such mortgages, thatin each case was originated or issued on or before September 17, 2008, the purchase of which the Secretary determines promotes financial market stability; and, upon the determination of the Secretary in consultation with the Chairman of the Board of Governors of the Federal Reserve, any other financial instrument, the purchase of which the Secretary determines necessary to promote financial marketstability.

If your flipping or rehabbing and reselling in less then 90 days how do you finance the resale - without using hard money?

If you already have buyers lining up to buy this from you, you can ignore my comments about additional due diligence...I thought you were planning on rehabbing and reselling, in which case you needed to be a little more sure of the numbers.If you're wholesaling, all that matters is that you can find a buyer, and it sounds like you've done that...

b/c I sold leads to pay for my own marketing on the leads I didn't sell covering the cost of my marketing that will in return result in deals that I wholesale, that will result in cash reserves to buy/rehab/re-sell................I'll have gotten to that point and be able to say that it was all b/c I sold a few leads when I got started in Probates.Again, I hope my travels in the probate world will be of some help to others

Some call it buy/sell, some call it “flipping†but specifically I mean purchasing a distressed property at a discount and rehabbing so it is in move-in-ready condition and reselling it to an end user for a profit.

Re-selling an REO property for a higher value is entirely possible.

Like Harrison, I would donate those houses to charitable organizations, such as women's shelter, small community centers, etc.

I do not want to buy it myself and then resell to them b/c of the 90 title seasoning required by FHA.

After you get a bit of capital and figure out what you're doing, it seems to make more sense to buy and resell than to give the lion's share of profits away to an investor.

Fixit and have dreamed of rehabbing old homes and reselling them.