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Showing posts from December 9, 2012

Re-Habber's REJOICE: FHA Extends "Anti-Flipping" Waiver

by: Michael Wasserman

Good news for anyone interested in buying & flipping single family homes. The FHA has extended it's "90 day anti-flipping" waiver for another two years. The extension leaves open some great money-making opportunities for individuals and enterprises interested in real estate transaction. It should also be a benefit to communities burdened by vacant/run down/abandoned housing stock. (Not bad for those of us who facilitate home purchases and sales either).  In this context, "flips"  are two-step real estate deals where a distressed home is purchased cheap, fixed-up quickly and then resold at a profit. The art of the deal involves finding the right homes at the right price, making the right repairs, and then reselling as quickly as possibly to minimize the "carrying costs" associated with owning the property.
THE PROBLEM WITH FLIPS:
Historically, flipping can be a very profitable enterprise. Unfortunately, many such profiteers made …