Flipping with no seasoning - how much is allowed

Bird Dogs, Wholesaling
1

Buying a property, do minor repairs, then flip. What are some basic guidelines that are allowed by lenders to price the property? If the buyer does not want to do seller financing and wants to use a traditional lender then what is the max I can charge.

Example
33,000 purchase
3,000 repairs

As is tax assessed value is $60,700. Looking to sell after repairs are done (1 week).

I know most lenders want 12 month seasoning, but do they have some guidelines on how much I could sell and still have the buyer be ABLE to get financing? What are lenders requiring today?

2

Depends on the lender and what programs they are using. If the buyer wants to use FHA, you must have been on title for at least 90 days. So you might want to stipulate no FHA if you are flipping in less than that.

Other conventional mortgages aren’t really much of a problem, especially if you bought the property for well below market prices, however - you really should keep good records of the repair costs so you can explain the difference between your bought and selling price if needed.