This will help you move those fix-n-flips to first time home buyers
The government temporarily suspended a 5-year rule that required you to hold title to a property for 90 days before it could be resold using a government loan (FHA). This is a result of all of the foreclosed properties out there.
Here is the article:
Government suspends property-flipping rule - Jun. 13, 2008
What isn’t 100% clear is if this applies to properties that are acquired via a short sale too or just those that have been foreclosed on and therefore are bank owned. I am hoping it is both.
If this is both - this is wonderful for investors and will allow you to find, fix and flip these homes to first time home buyers with an FHA loan.
Happy Investing
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