Investor · Fort Myers, FL · Member since 2017 · 3 posts · 0 votes
As an investor how do I get an opportunity to buy the properties that are only for home owners to bid on in those first 20 days.
As I was listening to one of the podcasts (I don't remember which one, that is the problem). I heard someone say that they became a licensed real estate ______ (blank) I can't remember. But by doing this they were able to purchase these homes and then resell them on contract. By doing this they got first crack at the purchase.
Interested. I was just looking into this very question a few days ago. I've been sitting on a property that I can't bid on until Friday hoping that it doesn't get taken, and then hoping that I beat out all the other interested investors who will also be bidding on the same property. But if I can get it within the first 20 days that would be spectacular, and if the BiggerPockets community has the answer for this then it would be worth it's weight in gold. Big Tip
Having a license doesn't change anything....it's fraud if you represent yourself as an owner occupant the don't occupy it and hud Does prosecute these, and many other competing investors will drop a dime on you for it.
If I'm not wrong, you HAVE to buy and hold the property, at least for one year, to be able to sell and make a profit... If there is a way around thus I am really interested too...
No shortcuts in the process with HUD homes. Investors are not permitted(system does not allow investor bids during this period) to bid during the Exclusive period
When you purchase a HUD as an owner occupant, you sign a document that you will occupy for at least one year