jbinvestor: I e-mailed a question to you but I can not read it????something happened. My question was in reference to assigning my purchase contract to purchase a residential property to my buyer so I could get around buying the property myself thereby getting around the "flipping" problem the mortgage lenders have against "flipping." Could you e-mail your answer to: **Please See My Profile** i would appreciate it. How do you assign a contract to your buyer when he can see you are making $35,000 or more on him? Thanks for you help.
First of all, see if your bank has seasoning requirements. Normally, on a case-by-case basis, it can still be approved if using a bank-trusted appraiser and if the price is justified by the comps (no more than 5 percent).
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jbinvestor: I e-mailed a question to you but I can not read it????something happened. My question was in reference to assigning my purchase contract to purchase a residential property to my buyer so I could get around buying the property myself thereby getting around the "flipping" problem the mortgage lenders have against "flipping." Could you e-mail your answer to: **Please See My Profile** i would appreciate it. How do you assign a contract to your buyer when he can see you are making $35,000 or more on him? Thanks for you help.
First of all, see if your bank has seasoning requirements. Normally, on a case-by-case basis, it can still be approved if using a bank-trusted appraiser and if the price is justified by the comps (no more than 5 percent).
[addsig]