I'm looking for some insight on wholesaling HUD properties. What are the potential pitfalls? Any info is appreciated.
@Michael Baradell I thought it was not possible; HUD being a govt. agency and all and the whole bidding process....
@Erich Berry I have heard conflicting answers. I heard that it is possible. I'm not familiar though.
Be very careful where you get your info from. There is plenty of info on the forums to at least get you started. I just wholesaled one last week so... The answer is yes you can wholesale hud homes.
@Nathan Paisley - Can you share a BP link or throw some insight at his question?
There are several threads on the site with a few different strategies on how to do it. Just do a search. The only thing I would add if you are intending to wholesale by marketing before you close on the property is to be upfront with your agent as to your intent as it is against HUD rules to market a property before you close. The reality is they don't have much recourse against you but the agent could potentially lose their NAID number and their ability to sell HUD homes
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