looking for a little direction
We live in a small 900 sqft house free n clear with couple acres. We live next to alot of her family and our goal is to add on to the existing house. Were both self employed. I install tile and stone.
I want to buy a duplex with 203k loan. I see I have to live there so could I move my address there and still live at our home? Maybe stay there on weekends or something? looking for advice thanks in advance
That is an interesting concept. I have thought about that too I don't know how you can get around it. I would also like to hear someone else's input.
Well that about sums it up for me thanks David
Simple solution move into the house. Most residency requirements are 1 year
@ David Krulac
When I see folks here say there buying, fixing and then selling a single family house, how does that different from a flip? Or is it same thing.
Flipping means some different things to different people.
1. You get a house under contract, and before settling you assign the contract to somebody else.
2. You buy and settle on a house and do nothing to it and sell to somebody else.
3. You buy, settle, rehab and resell the house.
All 3 are flipping imho.
A 203k loan, is an FHA loan, for Owner Occupants only. People that are flipping, aren't using FHA loans.
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