This percentage will make or break your deal!Īlthough Fannie Mae prefers cash offers, many financing options will be considered. FMNA has a specific percentage that you are required to resell at if you do not plan on rehabbing the property and holding it for 3 months or more.
WHY? Because, barely any other investors are doing it so this market is untouched. There is a seasoning issue on FNMA foreclosed properties if you are planning on wholesaling them. There is a specific percentage that you really need to calculate correctly that most wholesalers don’t know about and if you don’t properly increase them by that FNMA percentage you can and will get stuck with a property you cannot resell to your buyers….this will kill your deal and profits! The confusion that I see and have experienced with other wholesalers is the mark up on selling the property to their buyers. Of course, you don’t want to mark them up to much or else you will lose business and barely close deals. That is truely a remarkable thing, since its easy to mark them up as much as you want. There is a lot of confusion for a lot of wholesalers out there that are flipping REO properties to their cash buyers that are not FNMA properties. I wanted to touch base on this subject, since I think it can be tricky for people who are flipping FNMA (Fannie Mae) foreclosures. So, I don’t see a lot of wholesalers wholesaling Foreclosures that are owned by Fannie Mae. What a crazy Monday it is…but it’s a good one!
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