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24
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Thomas Key
  • New to Real Estate
  • Birmingham, AL
12
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24
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Buying a Forclosure to do a HouseHack

Thomas Key
  • New to Real Estate
  • Birmingham, AL
Posted

I am looking to do another house hack and I am currently house hacking. A property of interest I saw is a foreclosure, it states it’s, “a Fannie Mae property.” What should I be thinking about, seeking any good advice and what are the risks? I’ve heard people that previous owned the property could but it back during a certain period. Thanks so much. 

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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
6,539
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8,270
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Andrew Postell
#1 BRRRR - Buy, Rehab, Rent, Refinance, Repeat Contributor
  • Lender
  • Fort Worth, TX
Replied

@Thomas Key this should probably be a discussion that you have with your lender.  If their loan has requirements for the property type of thing or if they even have renovation loans (if that's even needed).  I would recommend speaking with your lender on this topic to know the answers here.

  • Andrew Postell
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