All Forum Posts by: Meagan Travis

Thanks for the info Greg.  I think the asset manager is Chronos Solutions.  Should I make another offer anyways or should I wait for a price reduction and then re-bid at that time?

Hi All,

I placed a bid on a HUD home yesterday that has been listed for 32 days (list price has not been reduced yet) at 82% of the listing price. HUD countered my offer today at exactly 88% of the list price (textbook from what I have read on the BP Forums). My question now is can I offer lower than their counter? If so, what is a reasonable amount to come up? Should I bid now or should I wait to see if the price will drop? Ideally I would like to get the home for around 82-83% of the list price based on my analysis of the market but I could go up to 85%. This is my first time chasing a HUD home so I appreciate any advice. I am in the Texas market.

Hi Everyone,

I have found a HUD home I'm interested in bidding on. I have read through all the contracts and requirements before making my bid but I cannot find anything about the type of deed that will be issued. I've searched Google and BiggerPockets and I still haven't come up with anything. I am assuming it is a special warranty deed but does anyone with experience purchasing a HUD home have an answer? Are there any types of deeds I should avoid?

Also, as an investor, can you immediately sell the home after purchasing it or is there a required holding period?  I would most likely lease the home but would like to have alternative options as well.

Thanks in advance!

@Jake Thomas Thanks!  This is the first time I have ever sent a letter to anyone.  I guess you have to break the ice sometime!

@Jake Thomas Thanks for the feedback.  I will try a e-mail.  I was just afraid that may be inappropriate since it is her work e-mail.

Hi Everyone,

I have found a vacant property I am interested in making an offer on.  I did some research on the owner and it appears she now lives in a different state.  I found her work e-mail address online.  Is it appropriate to e-mail the owner asking if she is interested in selling or should I stick to a mailed letter?  The mailing address listed on the CAD site is the same at the home address so I don't know if it would get to her or not.

Thanks!

Hi,

I am a newbie living in the Heights area interested in purchasing homes to lease out or flipping in The Woodlands, Cypress and Inner Loop Houston.  I work full time as an analyst for a local pipeline company but I spend my spare time researching and looking for investment opportunities.  I currently have one rental property that I have experience with and I also have my real estate license.  I'm looking forward to learning more here on Bigger Pockets and also finding additional deals.  I would appreciate any advice and guidance on how to get started searching for foreclosures to get started.  I'm also interested in hearing from any wholesalers who may have suitable properties.  I prefer to do cash deals.  Thanks!