Skip to content
Two investors reviewing resources on a laptop

Get industry-leading resources — for free

Unlock resources for every investing strategy and stage with a free account.

By continuing, you agree to BiggerPockets LLC's Terms of Use and Privacy Policy

Followed Discussions Followed Categories Followed People Followed Locations
Foreclosures
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

User Stats

240
Posts
130
Votes
Joshua Feit
  • Atlanta, GA
130
Votes |
240
Posts

HUD property, not on the market

Joshua Feit
  • Atlanta, GA
Posted

Hello BP!

There is a single-family home that I have been eying for six months -- vacant, and needs a lot of work. I am a new investor (with four units in Atlanta), but I am interested in making this home my primary residence.

I looked up the records and found it was foreclosed, and the bank took ownership of it. That bank folded, and it was bought by Wells Fargo.

I called Wells, and they said the home would be eventually listed on the HUD Home Store. I called the Home Store, and they were entirely unhelpful as to when they may be bringing the property to market.

MY QUESTION:
Is there anything that can be done now? Or do I just have to wait it out? Are there any HUD specialists that know how to pull magical strings to make deals like this happen?

Thanks in advance!

Most Popular Reply

User Stats

1,657
Posts
1,034
Votes
Rick Baggenstoss
  • Developer
  • Decatur, GA
1,034
Votes |
1,657
Posts
Rick Baggenstoss
  • Developer
  • Decatur, GA
Replied

@Joshua Feit Sounds exciting!  

You need a HUD broker to bid on HUD homes. I'd start talking to the brokers and get educated on HUD bidding for owner occupants and what it takes to win.

I know of two HUD brokers involved in GA REIA. I'll send them via email.

Rick

Loading replies...