We apologize, but the forums are closed for new posts.
Click Here To Join The Unemployables Facebook Group
1-888-683-3052
1-888-683-3052
Click Here To Join The Unemployables Facebook Group
Search REIClub Website
Website Navigation
Site Navigation
[+]
[-]
Investor Information
Home
REIClub Newsletter
Real Estate Articles
Real Estate Videos
Real Estate Success Stories
Real Estate Blog
Free Investing Books, Audios
Investing Glossary
Investing Abbreviations
[+]
[-]
Real Estate Products
No Risk Guarantee
Best Sellers
All Investing Products
Real Estate Courses
REIClub Coaching
Real Estate Audios
Real Estate Books
[+]
[-]
Investor Resources
Hard Money Lenders
Real Estate Investor Tools
Search Foreclosures
Handyman Services
Property Managers
Real Estate Agents
Real Estate Investing Clubs
Cashflow 101 Clubs
State Foreclosure Laws
Tax Appraisal Districts
State Property Codes
Proof of Funds Letter
[+]
[-]
Discussion Forums
General Real Estate Investing
Bird Dogs, Wholesaling
Financing, Hard Money
Rehabbing, Landlording
Foreclosures, Short Sales
Networking Forum
Random Ramblings
[+]
[-]
Site Information
About Us
Advertise on REIClub
Contact REIClub
Link to REIClub
REIClub Facebook
REIClub Twitter
REIClub YouTube
REIClub ITunes
REIClub Pinterest
REIClub Instagram
REIClub Testimonials
In The News
Welcome,
Guest
. Please
login
or
register
.
January 27, 2023, 06:11:13 am
Welcome,
Guest
. Please
login
or
register
.
January 27, 2023, 06:11:13 am
Real Estate Investing Forums
|
Real Estate Investing
|
Bird Dogs, Wholesaling
(Moderators:
$Cash$
,
Mdhaas
) |
HUD wholesaling
« previous
next »
Print
Pages: [
1
]
Tweet
Author
Topic: HUD wholesaling (Read 4812 times)
znichols
Member
Posts: 11
HUD wholesaling
«
on:
October 04, 2007, 09:29:55 pm »
I'm rather new to wholesaling and was wondering whether this is even a possibility. An example would be finding a HUD home, putting a contract on it, and then assigning the contract just as in a regular wholesale deal. Does anyone have any experience doing something along these lines? Again, is it even a possibility? Thanks in advance for the help!
Zach
Logged
[email protected]
turborocket
Member
Posts: 271
Re: HUD wholesaling
«
Reply #1 on:
October 05, 2007, 07:57:39 am »
HUD's contract is tight and not assignable.
Logged
* Enroll in our 1-on-1 pre-foreclosure mentorship program. Contact me for more details.
kdhastedt
Member
Posts: 5807
Re: HUD wholesaling
«
Reply #2 on:
October 05, 2007, 07:57:57 am »
You cannot assign a HUD contract...you would have to do consecutive closings. The feds are trying to tighten down on these, too with clauses that you can't sell within XX days and make more that YY% profit.
Keith
Logged
I have CDO...it's like OCD but in alphabetical order - the way it should be!
znichols
Member
Posts: 11
Re: HUD wholesaling
«
Reply #3 on:
October 05, 2007, 09:55:59 am »
Thank you all, this whole forum has been very informative.
Logged
[email protected]
Salverston
Member
Posts: 248
Re: HUD wholesaling
«
Reply #4 on:
October 06, 2007, 01:55:57 pm »
Actually, Steve Cook explains a way to do VA/HUD nonassignables as wholesaled properties.
He offers as an LLC. If the bid is accepted he gets the paperwork together and gets the LLC started. When he finds someone to wholesale it to he simply sells the LLC to the end-buyer. VA/HUD doesn't care because the name buying the property is the same. It works, because the LLC is still the name of the entity buying the property, even though there is a new signatory on the documents.
Logged
Dave T
Member
Posts: 3044
Re: HUD wholesaling
«
Reply #5 on:
October 06, 2007, 11:19:27 pm »
Are Steve's buyers paying cash out of pocket?
Logged
Print
Pages: [
1
]
Tweet
« previous
next »
Real Estate Investing Forums
|
Real Estate Investing
|
Bird Dogs, Wholesaling
(Moderators:
$Cash$
,
Mdhaas
) |
HUD wholesaling
1 Hour
1 Day
1 Week
1 Month
Forever
SMF 2.0.15
|
SMF © 2017
,
Simple Machines
Loading...