Dallas-Fort Worth Real Estate Investor Club

WHOLESALING HUD PROPERTIES.

  • 28 Aug 2012 10:34 AM
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    Message # 1058647
    LEROY HOAGLAND

    HOWDY!  I need to wholesale a propety asap. what are the pros. and cons. of working with HUD properties.

    Would it be ok to make my ofers as LRPM, once accepted have my rehab partner sign the final contract, and pay me a finder fee.

    I am only looking for the easyest way to transfer the contract, legaly no gray area.

    I need an attorney and title co. on the west side that is investor friendly, any ideas, double closeing.

    This is several topics I need help and will get better at asking for it.

    THANKS: LeRoy

     

     
  • 30 Aug 2012 9:26 AM
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    Reply # 1060543 on 1058647
    Steve Labus
    Leroy - From my experience I've learned that after the bid process has been completed most HUD properties do not yield enough margin or spread to present themselves as viable rehab candidates. That being said it might be difficult for you to locate a HUD property possessing enough spread to qualify it as an opportunity for a wholesale. Also, don't forget that you will need to provide a Proof of Funds for a HUD acquisition as well.

    Steve 
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