Just a quick note to you real estate investors. There have been a few challenges in 2009 for those of you who want to buy distressed properties and resell them. The key challenge has been the ability to finance the property.
FHA being one the easiest wasy to get financing has not allowed "flipping" transactions where an investor buys a property and turns around to sell it for a profit without a minimum 90 day to "cure" title.
This restriction has now been relaxed. http://www.floridarealtors.org/NewsAndEvents/article.cfm?id=230411
Always check with your lender about their specific requirements particularly if the home does not fit into the FHA Guidelines
Steve Armstrong, Realtor
Certifying Agent, Florida Green Builders Coalition
Smith & Associates Real Estate
http://www.UniqueTampaHomes.com
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