Posted by Nick D.(NY) on January 27, 1999 at 08:24:16:
I,m working on a L/O deal that I want to flip (for back end profits) as soon as my tenant buyer can qualify for a loan.The problem is lenders are telling me this is flipping when done before 12 months seasoning is up. Example: house is worth 1000.000 I L/O for $85,000 I put in my tenant buyer and immediately assist him with financing 3 months go by I get him qualified. Many lenders tell me this is flipping and I have to wait 12 months before I can make this tranaction.
How can this deal get done before 12 months seasoning I would like to cash out today. Can anyone assist me with a solution.
Thank You
Nick D.(NY)