All Forum Posts by: Simone Martorelli

We're looking to sell a 2 bed / 2 bath condo in Tamarac, FL for $40,000 (negotiable). It's a distressed property with a HUD lien attached.

Property Details:

• City/State: Tamarac, FL
• Size: ~1,187 sq ft
• Located in the Kings Point (55+) gated community
• Monthly HOA: $550
• Vacant – no tenants
• Estimated repairs: ~$20K
• ARV: ~$169K (based on recent comps)
• Taxes up to date through 2024
• 
  Important Notes:

• Property has a HUD lien for around $239K, from a loan tied to the original (now deceased) owner
• We purchased this through a Broward County foreclosure auction for $40K
  We hold the title, but HUD has not responded to negotiation attempts for lien release
• Unpaid HOA fees are pending (not yet negotiated)
  

Ideal Buyer:

This is a problem property, best suited for a creative or legal-minded investor who:

• Has experience dealing with HUD liens
• Can leverage lien negotiation or other strategies
• Is looking for a deep discount with upside

Our Ask:

• Price: $40,000 (negotiable)
• We’re looking to sell outright.

Pictures and additional info available upon request. DM me if interested or if you've dealt with a similar HUD lien case — I'd love to connect.

Thanks in advance!

Thank you, Nathan! I appreciate your response. 

Hi Everyone!

With a FHA loan for a four-unit (3.5 % down) bought in partnership with somebody, considering that we live in different states (FL-CO). Can only my partner live in one of the units to fulfill the FHA occupancy rule? Or will we both be required to occupy the units?

Thank you!