Can I flip this house? - Posted by Rachel
Posted by Rachel on May 09, 2000 at 21:39:01:
I’m looking at this duplex that an investor is selling for 199,000. He advertised no money down. Turns out he doesn’t want to finance but claims that he can get me a mortgage with 100% financing. He’s also a mortgage broker and he said that with the right kind of seller you can get a mortgage with 100% financing even on an investor property.
I want to maybe flip this house to an investor. My question is this…Is it possible to get such a loan, if he says so?
Also how can i flip it to another investor? That would mean, I would have to tell him about it so that he can try to get a loan on his name not on mine. Can the seller just go around me once I find another buyer?
Thanks for listening I would appreciate any advice, since I’m a newbie.