Wholesaling HUD homes

5 Replies

How can I successfully wholesale a HUD property?

I understand I will need to partner with an agent whom is licensed for HUD so I can submit bids and perhaps use Hard money to close. But generally, can someone advise me how this will work using wholesaling ?

I would like to tap into this avenue and expand my horizons.

Thank you in advance for your feedback.

yes, you can wholesale them.  instead of an/or assigns (which they do not accept) you simply attach an addendum changing the name of the buyer, once you find one.  the fee will have to be paid outside of escrow though.  at least, as far as I can tell and have been told. 

I know of someone who made 14 offers last week, got 11 counters and 3 mutual acceptances (and 3 EM deposits). 

While every market is different, he's said that there's enough meat to make every one happy.  this is in Pierce county Washington. 

Originally posted by @Gerald Harris :

Hey Darwin

I have not heard of an investor Wholesaling HUD Homes.

Here is a link that I created about wholesaling

http://www.biggerpockets.com/forums/93/topics/1362...

Now to wholesale a Hud Home you can try the transactional funding route. I don't know the restrictions when it comes to a HUD home though

http://www.biggerpockets.com/renewsblog/2012/12/10...

You can wholesale HUD. I wholesale at least 1-3 HUD deals a month. I wrote a blog about it here:

http://www.biggerpockets.com/blogs/4240/blog_posts/40047-hack-of-9-29-14--how-to-wholesale-a-hud-deal-without-a-double-close

Thanks Wendell

I would like to repost this in the marketplace.  I had no idea

You just taught me something new  :)

A am currently looking for an agent myself in so cal . Go on the hud website they have a list of brokers in your county. Do you have any tactics on bidding?

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