Wholsaling HUD Properties

[Tara L.]

ALL:

I have a question concerning wholesaling HUD properties. Recently, I read a post and the person said they were bidding on HUD properties and then selling to property to end buyers. Why would an investor turn around and pay a wholesaler for a property their could have placed a bid on themselves? I went to HudHomeValue and looked at off the market properties and while there were some properties that were sold at a 25% discount, the deals didn't appear to be good candidates for wholesaling. Can some of you share some of your experience with these types of deals(how much was HUDs original asking price, what was your final bid accepted, how much did you receive from the investor you wholesaled the property to, etc.). This looks like it could be a really good way to invest if the numbers are right.

Also, is there a limit on the number of properties you can purchase through HUD annually? Thanks in advance.

[Bryan L.]

Just my opinion that wholesalers add more value in finding deals that are not on the MLS. I would like to have a good wholesaler or bird-dog like that in my area.