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FHA financing and flip rules

I really hate FHA financing. It is because there are so many rules. 2 appraisals sometimes, strange requirements based on who did the FHA inspection, etc. etc.

I have sold several flips in the last year, and each time, FHA has ultimately approved the deal, at our price, but the gried we must deal with is awful. Either we made too much on the flip (except that we spent most of it fixing up the home), or we flipped it too fast (Can I help it if I have a buyer that loves the property and wants to close), or it went through too many hands (like it is a bad thing to buy from a wholesaler...)

All we are doing is moving properties and improving the market. The government makes it as hard as they can!

Posted Thursday Jul 07