Just curious are there any laws or regulations on how long you must own a property when it comes flipping? I am in indiana.
Here is a start. Check this out. Then I would talk to an expert.
Hope this helps ya!
Some REO banks and Home Path have 60-90 days deed restrictions.
I know, first hand, that some underwriters will not fund a home that was purchased less than 6 months ago and now is being sold to a retail buyer. Others want a 2nd appraisal in this case as well.
Other than that, I'm not aware of any other restrictions.
As previously stated, some foreclosures will stipulate at the time of purchase that you can not transfer ownership for a certain timeframe. Additionally, Some lenders will not loan to your buyer if a property that has recently transferred title (usually 90 days).
However, FHA (who originally came up with the 90 day rule) has a waiver in place to allow FHA loans within 90 days of previous title transfer... I think the waiver is currently valid through Dec 2014...