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ive noticed that many homes in the midwest are owned by hud?. will this make a difference on buying the propertys?

 

what is the process

ISamson

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Usually you use a Realtor Contract and fax them an offer that is either all cash or with conventional financing.  They don't do creative.

 

You can get good deals with this manner but it is directly tied to the Cycle.

 

During  "good"  years they just take the best offer,  which is usually higher than we should be paying.

 

During  "bad"  years  ( coming soon )  their inventory builds up and they resort to auctions  ( Bruce Norris specialty )  and you can start getting much bigger discounts.

 

Also factor in that these  ( and the  VA  lists,  very similar story )  almost always need repair.

 

 

 

cyberjb

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Quote:
Originally Posted by sdinv

ive noticed that many homes in the midwest are owned by hud?. will this make a difference on buying the propertys?

 

what is the process

 

Dont bother with hud's in midwest - they get overbid quite a bit at their online auctions...been there, done that. ALso their as-is and mold cya's can kill you if you're not careful.

 

Try to go regular route with motivated sellers and remote partners.

 

Vivek

 


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Reply with quote  #4 

how does one go about finding motivated sellers out of state?

using birddogs is one way im aware of , but then the question comes how do you go about finding  birdogs out  of state etc.

cyberjb

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Quote:
Originally Posted by sdinv

how does one go about finding motivated sellers out of state?

using birddogs is one way im aware of , but then the question comes how do you go about finding  birdogs out  of state etc.

If you use birddogs who will do your rehab and management work?

 

Find local investors who do fix-and-flip, and show them how you can enhance their business 4-fold using turnkey systems and cash. They will also find the motivated sellers for you.

 

I think this is the 3rd time you're asking the same question - the answer is "win-win partnerships with local rehab investors".

 

Vivek

 


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