I need an answer ASAP! I want to write an offer on a property that is owned by Fannie Mae but being sold through a realtor - but my goal is to wholesale it. Is this possible??? And how???
As an investor you will be required to provide 10% earnest money on the contract with the intention to buy "Non Owner Occupied"! ($100K home, $10k earnest money)
You will need to use transactional funding to close to you, and then resell the next day to your end buyer!
There is a deed restriction for 90 days limiting you to not more than 120% of your purchase price!
Thanks Gold River! Any recommends on transactional funding?
how do you plan on wholesaling it? how is your end buyer going to buy it? cash or mortgage? what prices?
End buyer to bring cash hopefully.
At what price, rheab needed and arv? If too high its not going to happen