All Forum Posts by: Nick Miller

Make sure to use an experienced realtor... Submitting an offer for a HUD is much diffrent than submitting a regular offer and there are several aspects of the transaction that can make the deal fall apart if your realtor does something wrong.

Welcome Phillip!

Welcome Eddie

Welcome Ashley!

Welcome

Back in '05 I needed to raise a few thousand for a project so I offered one of my single family homes for rent at $850 a month or $7,500 for the year with a one time upfront payment. I had a lot of lookers but there was one engaged couple that seemed to stand out from the others.

They paid the $7,500 and were mostly maintenance free until one day, roughly six months into the lease, the water heater went out. Josh (one of the tenants) helped me install the new water heater then took me out for wings afterward. Normally I don't socialize with my tenants but they were paid up for the next 6 months so I decided to take him up on it.

We had such a good time we decided to make a weekly tradition of going out for wings and by the end of the lease we had become such good friends not only did we get wings weekly but they also invited me to go on vacation with them and they invited me to be a part of their wedding at an inclusive resort.

They only rented from me for 14 months and they got a heck of a deal but they are now lifelong friends.

Does anyone know of a formula or a website that shows the formula for bidding on HUD's? i.e. how much one should bid after 30, 60, 90, 120, 150 days?

welcome

If the market demands a w/d for the top dollar check out sites like craigslist for used appliances. you can normally get a pair for about half price and if the tenants take good care of them you can normally resale them for about the same price.

Im from a town with a population of 8,000 and there are several fix-n-flippers in that market! Most realtors focus on marketing to retail buyers so going to them for information or resources will probably be a waste of time. REI associations, general contractors, the building department, the assessors office, contractor reps at your local hardware stores... these are all probably better resources for finding cash buyers and fix-n-flippers.