I first want to thank everyone participating in this forum for the help and support given to the newbies. It’s awesome!
I’ve been reading the posts for a while now, and learned some, but I couldn’t find much about the hud homes, the 203k and stuff like that.
I would like to purchase one as an o/o, but I don’t know the requirements, and also what is the 203k? I live in GA and we have some hud homes available. Oh, and is it worth starting with something like that at all…?
Since HUD properties are listed with agents, I would suggest finding a buyer’s agent in your area that is familiar with HUD properties. They will be able to help you. 203k refers to a type of FHA loan. It’s basically an FHA rehab loan. You’ll have to be pre-approved to submit a bid on a HUD property, so it’s a good idea to talk to a lender and get everything in order with the lender first. Good luck.