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HUD Releases 90-Day House Flipping Rule, jillwatts@kw.com, 360-852-1689


INVESTOR ALERT!! HUD has announced today that the 90-day house flipping restrictions have been lifted as of February 1st, 2010.  For my friends who are really into multiple streams of income and like to get their hands dirty fixing up those Fixer Uppers....this announcement is for you!  "Flipping" homes has now just become easier...at least for the coming year. This will certainly be a positive effect on our market.

Here are some things that are rules applying to this new HUD flipping houses rules::
Buyer and seller may not be family members. Seller may not increase the sales price by more than 20% and if that happens..the house must be appraised to deduce what improvements have been made. If improvements have been made, an inspection must be done and results given to the new buyer. This is going to be a fabulous opportunity for investors!! Especially those who want a invest in a fixer upper and make a few adjustments, SELL and EARN SOME PROFIT!!
Do you like ripping up carpet, fixing a few holes, painting, maybe putting in countertops or new tile in a bathroom??  Is HOME DEPOT one of your favorite Saturday trips?? Check out this ... more

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