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Updated over 9 years ago on . Most recent reply

Mike Arskiy's profile image
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Mike Arskiy
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  • from North Wales, Pennsylvania
  • Member since Sep 27, 2015
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Mike Arskiy's profile image
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Mike Arskiy
  • Investor
  • from North Wales, Pennsylvania
  • Member since Sep 27, 2015
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Mike Arskiy
  • Investor
  • North Wales, PA
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Creative Real Estate Financing

203K loan. Did anyone get it for flipping?

Mike Arskiy
  • Investor
  • North Wales, PA
Posted

Hi. I'm thinking about getting 203K Loan for my first flipping house. Do you guys have any experience with that? What are basic worries and possible troubles? Thank you for any suggestions in advance! 

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Wayne Brooks's profile image
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Wayne Brooks
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Wayne Brooks's profile image
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Wayne Brooks
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
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Wayne Brooks#1 Foreclosures Contributor
  • Real Estate Professional
  • West Palm Beach, FL
Replied

Well, it's for owner occupant only as all FHA loans are. Using it for a flip would be loan fraud.

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