Buying from a Wholesaler to have a Live-in Flip

Buying from a Wholesaler to have a Live-in Flip

Real Estate Investor · Cincinnati, OH · Member since 2014 · 9 posts · 0 votes

Hi all! Quick question. I want to purchase a house that from a wholesaler that meets my criteria (4bd 2ba, etc.). However first question. Do wholesaler only accept all cash offers? Because I think I want to bank fiance. 

Second question. The house will need to be updated so I would need a loan that includes rehab costs. I would be living in the house as a primary residence. What is the best way to go about this?

Ultimately I want to find a low entry home--which in Ohio there are plenty of--and have money for rehab cost that I myself will do and also have contractors perform as well. Thanks all.

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  • Wholesaler · Charlotte, NC · Member since 2013 · 269 posts · 66 votes
    11y
    I have never personally heard of the big banks BOA Wells Chase pay an assignment fees I think a double close is more suitable...
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