Investor Wait Periods

[ROBERT DEHAVEN]

Hi All -

My wife and I are just starting to make offers on properties here in Minneapolis.

We keep running into a fair amount of "HUD Houses" that only take offers from owner-occupants for the first 15 days, sometimes its even 30 days... Of course a LOT of them are gone by the time we can make an offer.

Is there any way around this...any creative way to get control of the property without actually living there..and without breaking the law?

Thanks everyone,
Bob in Minneapolis.

[Mark Ferguson]

No. The actual wait periods are 30 for FHA insured homes and 5 for uninsured. Check out my blog for investors guide to hud homes.