flipping houses

I am also a real estate agent. "active" I need to find a way to finance my first one to get started. Fannie Mae has a good program, but it's only for buyers who are going to live there, not for investors. I am still somewhat thinking about selling my current house so I can qualify for it but I am just not sure.I do not want to rent them either Well good luck. By te way I live in Ohio.

sammyjk, ever considered buying a tax lien property. You could acquire one fairly inexpensively. Turn around and sell it for a huge profit. Or do you have to find financing for the buyer? Your comment was a bit confusing to me. What do you need financing?

I'm a loan officer and I'm working with a couple flippers. It's something that I definately want to do. They have found success in buying, fixing up, and then renting. You get more sources of income that way. You get monthly income from rents. You have to be careful about who you rent to but also be careful to be fair. You're going to eventually have a deadbeat but you'll also have good payers to keep income coming. You get the equity of the property. You can tap into it to use to buy other properties or just open a line of credit for expenses that you can now get a tax break on. You get the income from the appreciation of the home. You cash it in when you sell and you're not stuck selling at a certain time. You can sell when you want because your renters are paying the mortgage. As far as financing: I can finance an investment property up to 90% in one loan with no PMI for 30 years. Rates are higher than owner-occupied property, but if the property pays, you're okay. I can also do an 80-20 loan to finance all 100%. Feel free to contact me, but I'm only licensed in PA. I've found some investors like to buy with cash or large down payments and that's fine. Others like to finance the max. This leaves their cash available to them for emergencies or for investment capital. Everyone has a preference. I can't wait to get into it. I'll end up doing both renting and flipping. It depends on the type of home. I think you should normally rent because of the multiple income sources. Hoever, if you find a home with potential for instant profit, you should flip it. I suggest reading every book about it that you can. Also become a student of mortgages and credit. You'll save yourself thousands. You can check out my blog on my profile. Also, don't try to do it with "no money". You need a solid reserve for emergencies like people that don't pay rent or that trash the place. Be smart. Best of luck!

i don't know how to go about tax lien sales . do you?