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Updated about 13 years ago on . Most recent reply

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509
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Priscilla Z.
  • Rental Property Investor
  • Palm Bay, FL
290
Votes |
509
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How can I wholesale a HUD property that is "owner occupant" only?

Priscilla Z.
  • Rental Property Investor
  • Palm Bay, FL
Posted

I know there has to be a way out there.....

I'm thinking I use my name as the buyer..and use my transactional funders proof of funds letter....

Has anyone done this? Are there restrictions as to when the "owner occupant" can sell it?

Most Popular Reply

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J Scott
  • Investor
  • Sarasota, FL
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J Scott
  • Investor
  • Sarasota, FL
ModeratorReplied

The only way you can do this is if you plan to live in the property for at least a year before you resell it.

Owner occupant means that you will occupy it yourself. If you don't plan to do that, you'd be purchasing under fraudulent pretenses.

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