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Author Topic: buy to flip to a first time home buyers  (Read 1335 times)

Offline jdproperties

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buy to flip to a first time home buyers
« on: January 24, 2008, 12:00:30 pm »
Question...

We want to invest in the US.

If we buy a property a SFH 3/2 at the lower end of the medium home price at a discounted rate of at least 35% below market in Texas, fix it up and attempt to sell it at least 10-15% below market value does it sound like a do able plan.

Will all lenders require a 30% down payment from us?

What about the loan requirements/qualify for the first time home buyer (that we intend to eventually sell the property too)? What are the main obstacles the will face?

Does anyone know what the difference, if any (from a lenders perspective with regards to the qualifying and or rates) from a second home or an investment property. Do they fall under the same category?

How tight is the lending requirements for first time home buyers?
Joanne joannesreidealboard.webs.com

Offline christopher w

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Re: buy to flip to a first time home buyers
« Reply #1 on: January 24, 2008, 12:39:24 pm »
there are programs that allow 75%-80% LTV for foreign nationals. Most of the foreign national programs I have seem do not distinguish between second home and investor. As for the regulations on selling you need to be careful where you buy. Depending on the real estate market in the county the property is located the buyer may have LTV restrictions. I would recommend you find somebody in Texas who understands transactions like this to help you.
Christopher W
C-214.923.5781

Offline jdproperties

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Re: buy to flip to a first time home buyers
« Reply #2 on: January 24, 2008, 01:18:19 pm »
Thanks
Joanne joannesreidealboard.webs.com

 




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