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Jozef Forgac
  • Loss Mitigation Specialist
  • Jacksonville, FL
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Flip HUD with TRANSACTIONAL funding?

Jozef Forgac
  • Loss Mitigation Specialist
  • Jacksonville, FL
Posted Dec 21 2008, 23:36

I have recently found a Realtor specializing in HUD & VA properties in Florida with many available inventories for sale, such as non performing assets.

Does anyone have experience with flipping these properties to rehabbers or end buyers?
What I mean is to negotiate a discount (as in short sale) and buy these properties under Trust or LLC using Option for Purchase and Sale Agreement. Then, pay cash with transactional funding (24 hours funding) at the closing and resale them in double close with my buyer (rehabber or end buyer) with financing provided by my end buyer.
If this is possible, I will have to disclose to the lender that my intent is to buy and resale to the 3rd party?
Could I use the same approach as with short sale?
I'll appreciate all suggestions. Thank you all.

:roll:

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