I recently visited a town with a population of 8500 that had 3 hud homes available .The local realator stated the on had been on the marked for 3 years.Two of them seem like good deals for rehab and flip or even rent , however Im concerned it will take 2 years to sell or 3 years to rent.Im factoring in the fact that they are run down so that could play a part in their time on the market. home in the area are typically on the market from 1 month to 1 year. Is that small of a town too big of a risk due to potential holding?Or just the opposite because nobody in the town seems to be interested in fixing up and then selling homes?
it could really help to pose that question to realtors that work in that area. generally it wont take 3 years to lease a house. i would also recommend considering buying and fixing up the home, then selling it on a lease option. usually lease with option is in demand, bc there arnt many available (at least in markets im aware of). make sure you collect a nice non-refundable deposit.