When you're looking to purchase HUD properties, there are certain
buyer types that you want to be aware of.
You also need to know where YOU fall in place when buying HUD
Below is a description of each HUD buyer type and where you need to
be in order to place bids on HUD properties.
Here you go:
Owner Occupied- HUD usually allows a 15 day time frame for regular
home buyers to bid on their properties. They do this for several
reasons, but the main reason is because they are looking to create
homeowners. By creating homeowners, they create better
Owner Occupied buyers MUST live in the property for at least 2
Good Neighbor Next Door- These types of buyers must live in the
property for at least 36 months before deciding to sell the
property. Police officers, fire fighters, school teachers,
emergency medical technicians, etc, all fit the criteria to
purchase these properties as a GNND buyer.
They can also get these properties at a 50% discount off the listed
price during the lottery period.
Government Agency- Government agencies can get these homes for $1.
But the homes must be uninsured (need work).
Non Profit- They can get these houses during any phase as well, but
the homes must be uninsured. If you are thinking of setting up a
non profit organization in order to purchase these properties,
don't waste your time. It's too difficult.
Investor- After the 15 day lottery period, the option to bid on HUD
properties will be "extended" to investors. This is where YOU (as
an investor) can bid on these properties.
Investors get GREAT deals, but are at the bottom of the barrel.
This is why you need to know how to play the game. You can easily
rake in HUGE profits once you know how.
All of this and more will be covered on Thursday's webinar...
(Limited Seating Available and we are running out of spots)
To your success,
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- Wholesaling HUD Properties: How to Flip Government Foreclosures on this Site
- Wholesaling Houses- In the Trenches with Jason Freeman
- How to Use Comparable Sales to Find Cash Buyers
- Investing in Real Estate? Don’t Suffer from This…