We have been speaking about Foreclosures, Bank Owned and other types of Distressed properties. With regard to investing, it is great that you are thinking in that manner – but you do want to get the best information about doing those types of things.
I just had a call from a Friend of mine that has been given bad information about flipping properties. From what he told me it would appear that the same old issue has arisen, that I speak about quite a bit, the issue having to do with the agent’s view being on the commission only.
If you are going to purchase a property to flip – you need to be made aware of the 90 day rule. If you have a Cash Buyer for the property you are going to flip – there is not a 90 day rule.
But if you are going to allow for any type of financing on the property you have to wait for 90 days, for FHA offers, and for Most Conventional Buyers as well.
If you want more information all you have to do is contact Dwayne Opaise at 661-260-2970, he is with Augusta Financial – they are direct money lenders and he is a good man.
The more accurate the information that you have with regard to Real Estate Investing – the better.
To do the comparables, hunting etc.. Leave that to us here at REMAX’s Paris911 Team. Due to our vast knowledge of the BPO process – Broker Price Opinions, and their guidelines – I am pretty good at the property evaluation.
My BEST and have a nice day.
Connor MacIVOR
RE/MAX of Santa Clarita
Directions to our Office
Paris MacIVOR
RE/MAX of Valencia
We have ways to do the Hunting for you when it comes to Foreclosures and other distressed properties. Our Search Engines are Top-Shelf and enable you to search for Real Estate as Agents do. Try Searching by MAP and Let us know how this suits you. Subject Matter and Active Rain Experts.
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