Lease/Option And "Flipping" Rules....
Okay,
So you have a home you are "sandwiching" and you have tenant in the home who you come to find out has good enough credit to get financed.
If their credit is decent, I am guessing that their options may revolved around FHA loans and sub-prime loans. When they go to take the option from you to buy the home, aren't you in a sense flipping the home to them at a higher price?
If this is true, won't this trigger some things? and is there ways to get around it...or am I just thinking about this all wrong.
Thanks,
Christian "The Solutions Kid" Beebe
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Come on guys (and gals) it's been more than five minutes and I haven't received the answer to all my problems...dangit, this place stinks
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Read your own post "When they go to take the option from you to buy the home, aren't you in a sense flipping the home to them at a higher price? "
What they take? House or option? So what you flip?
If you flip a house, they can not get FHA/VA. If you flip option, there is no triggering event except you need to make sure you are just flip a option.
Jya-Ning
So what is the next part of the deal?
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