Today, I want to share with you a little "secret" strategy that I
use to find cash HUD property buyers online through the HUDHomeStore.com
This is a strategy that I've never revealed to anyone accept my Real Estate REPO Riches students and Flip Vault members.
But before we get into that...
Yesterday we discussed the bare bone basics of what HUD properties
If you missed it, here's the quick scoop (this is mostly for new
Basically just like banks, the government forecloses on properties.
And just like banks, the government sells these properties at deep
These properties are called HUD Foreclosure properties.
HUD stands for Housing and Urban Development.
HUD homes are sold exclusively online and are listed with real
estate agents. They've been selling these properties at deep
discounts since the 1934 and there's no end in sight.
Alright... so now that we have an understanding of what HUD
foreclosures are, let's talk about what the first steps are in order to
The first step is to find the property buyers.
Here's a brief run down of how to do it...
1. The first thing you'd want to do is go where the buyers are.
Obviously, they would be on HUDHomestore.com.
2. On that site, search for properties in your county under the
buyer type "Investor".
3. Once the list of properties come up, you should see a bunch of
properties with an "Extended" listing period.
4. Add all of those properties to an excel spread sheet. Do this
5. Revisit the site daily and check to see of the properties that
are on your spreadsheet have been removed from the website. If
they have, then they are probably sold.
6. After noticing the properties are removed from the site, visit
your tax assessor's website 30-45 days later to see if the property
owners have been updated on the site with the new owner's info.
7. Take down the new owner's name and mailing address.
8. Send them a letter expressing your interest in doing business
9. Rinse and repeat in order to find more buyers.
It's simple, it's easy, and it WORKS!
But, once you find the buyers you will need to find the properties
in order to make money.
That's why in our final lesson [Lesson 3], I will share with you
how to find these properties for pennies on the dollar.
Now go and close some deals!
p.s. Be sure to check back tomorrow for the final post:
"How to Flip Government Owned Properties Online..."
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