Posted by Arthur on June 28, 2001 at 13:23:09:
thanks Carey, that make it clear…I feel better now.
that means I steal have a chance on geting it to fliping…than you!
Why Fliping Course’s If Seasoning Required? - Posted by Arthur
Posted by Arthur on June 28, 2001 at 12:55:23:
Hi I like to know why there are pliping courses for sale steal?
, when the are problems with seasoning
That seems unsence…any advice?
I was looking in to buying steve cook course but seems like it’s to late now// with seasoning restrictions…
thaks for any advice…
Re: Why Fliping Course’s If Seasoning Required? - Posted by SCook85
Posted by SCook85 on June 29, 2001 at 19:44:56:
Arthur,
I address the seasoning issue with regards to wholesaling in my course. It can be done. I do it every day.
Steve
Re: Why Fliping Course’s If Seasoning Required? - Posted by jesse
Posted by jesse on June 28, 2001 at 13:33:53:
flipping is ok when done properly. You can’t use an inflated appraisal or fraudulent loan docs ie. falsified pay stubs or w2 forms. this is a big no no and people are going to jail for that type of stuff. just do the right thing and most deals work out fine the problem is when people get desparate or greedy their judgement gets cloudy. stay clear.
regarding seaoning issues conventional lenders for the most part don’t care about length of ownership or (chain of title issues) over last 12 months. Fha you must show improvemnts and it must pass fha appraisal ( no peeling paint, must have handrails, closets, adequate heat and water sources and not be in disrepair unless you plan on being an owner occpuant and living there then you could do a 203k loan.
Subprime and non-confoming programs are difficultto come accross i’m a mortgage broker, re broker and investor i have 3-5 lenders that will do those deals. so their are adequate sources. plus you can usually sell the paper (owner financing ) for up to 90-93 cents on the dollar if structured well. More commonly 75-85 cents on the dollar.
good luck
Re: Why Fliping Course’s If Seasoning Required? - Posted by Carey_PA
Posted by Carey_PA on June 28, 2001 at 13:11:38:
Arthur,
You should really research more about flipping.
If you are “assigning” a contract to another investor, there’s nothing in regards to seasoning that you have to look out for.
And if you plan on fixing and flipping to a retail buyer…there are some lenders that don’t have those seasoning requirements that you’re speaking of…the problem is FINDING THOSE LENDERS!
But for the most part, if you’re flipping to other investors, especially by assignment, then you won’t have a seasoning issue.
I will, however, let Steve and the others answer this question.
good luck,
CAREY
Re: Why Fliping Course’s If Seasoning Required? - Posted by Arthur
Posted by Arthur on June 30, 2001 at 24:36:26:
Thanks for clearing thi up Steve !. I’really sterested on the RE Investing. and this fliping thing, sound’s good to start . .I look forward to be a good student of you’re course…
Thanks
Re: Why Fliping Course’s If Seasoning Required? - Posted by Arthur
Posted by Arthur on June 28, 2001 at 15:31:18:
Thank’s that repond was very good for me…I 'll make sure to be carefull and not get gready…!