That Pesky 90 Day FHA rule
As real estate investors we all hate it. It prevents us from selling a property that we have quickly renovated. Until we hit that 91 day mark we can only accept cash, conventional and VA buyers. (Feel free to correct me on the VA part)
Ok, step off soap box now.
A thought popped into my mind when I received an email from a wholesaler the other day. I noticed many properties that are being advertised on the investor market have tenants in the property and have 4+ months remaining on the lease.
Then I thought, how about buy the property, collect the remaining rent from the tenants for the remainder of the lease while waiting out the 90 day seasoning requirement. Anybody else using this strategy?
So far this is the only thing I can come up with in regards to dealing with 90 day seasoning requirement? Anybody else have any ideas or thoughts?