Buy1HUD.com

Great HUD home in Brushy Creek

2011-02-19T07:49:00.000-08:00

"Reduced" Great Starter HUD Home in Round Rock

2011-01-04T09:40:00.000-08:00

1965 Central Austin Fixer with 2014 Sqft living space

2011-01-04T09:14:00.000-08:00

Investors Alert: Central Austin "Fixer & Flip"

2011-01-04T09:12:00.000-08:00

Beautiful HUD Home in Hutto, in Great condition

2011-01-04T09:10:00.000-08:00

South Austin "Fixer"

2011-01-04T09:09:00.001-08:00

First Time Buyers Dream Home

2011-01-04T09:07:00.000-08:00

HUD Home with Large 0.778 Acre land in Georgetown

2011-01-04T09:04:00.000-08:00

Great starter Home in East Austin

2011-01-04T09:02:00.000-08:00

Starter Manufactured Home in Hutto

2011-01-04T08:58:00.000-08:00

Great HUD Home in Move-in condition

2011-01-04T08:54:00.000-08:00

3900 Bee Creek Rd. Spicewood TX 78669

2010-10-23T10:04:00.000-07:00

Flipping Properties!!!

2009-11-29T11:16:00.000-08:00

There are many investors that are interested in Flipping properties, by remodeling them. Here are few pointers that you would like to consider.

1- Have a working budget and stick with it.
2- You make Money NOT when you SELL, but when you BUY!!!
3- Work with a Realtor that understands Real Estate Investments.
4- A good Realtor can provide you with a TRUE CMA (Competitive Market Analysis) that is priceless. A good rule of thumb for a CMA is 3/3/3 Rule. That is properties in the same Subdivision, with 3-6 months of Sold properties, with 3 years (+/-) from the year of built and 300 (+/-) Sqft of living space of the subject property.
5- CMA will show you one other important item, DOM (Days On the Market). This will give you a realistic time table after your remodeling is done.
6- Always have an exit strategy. With a correct CMA on a subject property, it will give you a good idea, what price you should expect to sell the rehabbed property. That will determine your buying price and your budget for repairs.
7- Build Relationship with 2, 3 or 4 contractors. Money & Time are the most important.
8- Be careful with repairs and upgrades. Many Investors have lost money with wasteful spending or over rehabbing.
9- Make sure you know the neighborhood and its upgrades. If no one has granite counter tops in the neighborhood, don’t spend money on it. Your Realtor can be very helpful here, by showing the properties in the market and pictures of the recently sold properties.
10- Taking pictures of the subject property regarding a renovation. You need to take BEFORE and AFTER pictures of the subject property. You never know when or if you need to prove the improvement. And furthermore this will make a good portfolio for future projects.
11- Build relationship with Lenders and Inspectors.

For more information and see ALL available HUD homes, visit my website at
www.buy1hud.com

What is the difference in owning a HUD home as an Owner-Occupant or an Investor?

2009-11-29T11:05:00.000-08:00

If you purchase a HUD home as an Owner-Occupant, you have a 15 day option period (no option money) for inspection. And from the time of close you may not lease out or sell your property for at least 12 months.

If you are an Investor you DO NOT have 15 days option period, but you have 15 days for an inspection period. So, unless there are significant issues found in inspection, you can not opt out of the contract without losing all or portion of your deposit. So, as an Investor, make sure that you have done your due diligence before you submit your bid. From the time of closing Investor may rent out their property or sell it out right.

For more information and see ALL available HUD homes, visit my website at
www.buy1hud.com

What is HUD’s Bidding process?

2009-11-29T11:01:00.000-08:00

HUD purchases are very different than conventional purchases. HUD has a “Closed Bidding” process for its properties. From the time that HUD releases a property for bidding; buyers have 10 days to preview a property before the bidding closes. All bids are electronic and final. All bids are submitted by a registered HUD REALTOR®. All buyers submit their best and final offer, without the knowledge of any other bids. As long as HUD finds the highest offer acceptable, that property is sold. HUD retains the right to refuse all offers.

What do you need at the time of submitting a Bid?

You need completed a one page purchase application (form 9548) for HUD and have it signed by the buyer(s). A letter of approval from buyer’s lender. A cashier’s check for $1000 written to HUD. This is mandatory by HUD for all bids, so HUD is assured that the winning bid is a qualified buyer and then HUD may take the property off the market.

For more information and see ALL available HUD homes, visit my website at
www.buy1hud.com

When is the best time to purchase a HUD home?

2009-11-29T10:56:00.000-08:00

If we are in a Seller’s Market, you can’t find many HUD homes and if you do, you will see many bidding competitors. If one is in a Buyer’s Market, you will see abundance of HUD homes in your market. But if you purchase a HUD home in a Buyer’s Market make sure that you are planning to hold that property 3 to 5 years. However if one wins a bid on a HUD home in a Seller’s market, may resell that property in 1 to 2 years. Your REALTOR® can help you, ask your REALTOR® to check the Inventory of HUD homes in your area and the Number of bidders on properties. That would be a good indicator of HUD home’s market in your area.For more information and see ALL available HUD homes, visit my website at www.buy1hud.com

What is a HUD Home?

2009-11-29T10:45:00.000-08:00

HUD homes are properties with FHA loans that have gone through the Foreclosures process. The bank which owned the FHA insured loan on that property completes the foreclosure process and will take over the property. Then the bank surrenders the property to FHA and gets reimbursed for the loan. FHA turns the property over to HUD and HUD acts as liquidator for FHA.

HUD properties all are time sensitive, due to deadline of the bidding procedure. It’s done on a closed bidding procedure with owner occupied buyer having Priority. Electronic bidding for all HUD properties will close at the end of the first 10 days in market.

For more information and see ALL available HUD homes, visit my website at
www.buy1hud.com