Financing a HUD property

Financing, Hard Money Lenders, Private Money
1

I am a beginning invester who is contemplating purchasing a HUD.
Any advise on the best way to finance?
Are HUDs a good place to start?

2

You left out some crucial info. What are you going to do with the property? Are you going to rent it out, live in it yourself, fix and resell?

3
You left out some crucial info. What are you going to do with the property? Are you going to rent it out, live in it yourself, fix and resell?.............

…What are your qualifications? (employed?, assets?, Money down?)

4

Depends on the state Eric. HUDs can be the perfect place to start. Since they are purchased through an electronic bid system, most of the process is standardized. Most of the properties have recent inspection reports attached. They are financed just as you would any other investment property. Get pre approved before your agent submits a bid. If you pay cash, make sure you have an account statement dated within 30 days of any contract date. HUD gives you 45 days to close. I live in Indiana. Indiana has more good HUD owned properties than any state in the country. I have been buying HUDs for out of state buyers for the last 3 years. Check it out.

Good luck,
-H

5

Thanks to all that replied…working out bugs, will be back.