Anyone have any background in HUD acquisitions? I found a few that have been on the market for almost 6 months, asking 17k -23k each, need about 5-7k in renovations to make them worth about 40k each. How I finance these with little/no cash avail?
I have one HUD property…HUD has suspended house sales in this area for use as housing for hurricane victims.
Ask local lenders if they have funds available for rehabs. Some of the HUD homes also get tax breaks if you refurb because they are in revitalization zones. If you’re going to live in it, HUD has money available, too. As a last resort, you could use Hard Money.