Ep 082 How To Flip A House Using A Reverse Mortgage 12-1-19

On this episode Jeff goes into the nitty gritty details of using a reverse mortgage to flip a house. We talk about how to best structure the terms and how to work with the seller to avoid early bank foreclosure. The key to using a reverse mortgage as financing is to make it short term. Six to eight months max. The best approach is to have the seller on board and in communication with the bank . There is a certain time frame that banks have to give the seller before they can foreclose on the property. The time frame and the foreclosure process  may differ from state to state so it’s important to know what that is in your state. We also explain exactly what a reverse mortgage is and how its used. This is a very creative strategy to use in a short term situation where you are planning to refinance and hold long term or flip. Enjoy!

And to get special access to a step by step video on how to structure offers, text CFP to our hotline at 877-409-8090 or click HERE.