OfflineHi Everyone!
Can you use a double close to wholesale a FNMA/HUD property -- or is this pretty much a dead horse?
I'm trying to figure out how to make a good deal work -- but it seems like my options are pretty (if not all) limited from my end.
Thanks!
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Sean
Negative people are like cancer. They'll eat you alive unless you irradiate them out of your life.
Absolutely
You can go the double close route with both HUD & FNMA properties.
You wont be able to Assign them though.
They do have a deed restriction for 90 days after the sale.
the restriction doesn't allow you to sell the property for 20% more then what you purchased it for.
So if you bought for 100k , for 90 days you cant re-sell for more then 120k.