OfflineOkay, so I got my agent to sent me many potential properties to put offers on, but all were HUD homes and owned by the bank. I'm guessing that I need a new batch of properties... Needing advice. Thanks.
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Posted on: Thu, 04/26/2012 - 15:29
Hi Well that depends on what your trying to do with those properties, you need to do your due diligents on them, have your agent send you comps, you need to tell the agent what types of deals your looking for and at what price range.You might be able to assign these properties,wholesale them or hold them. It goes back to what you are doing , whats your plan, you could lease option as well.PM me if you need to , Jim
jbischoff
Hi Well that depends on what your trying to do with those properties, you need to do your due diligents on them, have your agent send you comps, you need to tell the agent what types of deals your looking for and at what price range.You might be able to assign these properties,wholesale them or hold them. It goes back to what you are doing , whats your plan, you could lease option as well.PM me if you need to , Jim
jbischoff
I'm trying to use the 25:1 strategy with these properties he's sending me. And I will be wholesaling them. I looked up the numbers on some of these and they are worth it, but I was thinking that I will not have a wiggle room with a HUD home, especially since it's owned by the bank, please correct me if I'm wrong. Also, can HUD homes even be assigned? Or should I just look for properties with a physical owner? Just want to make sure I have wiggle room and don't want to run into problems...