Wholesaling a Hud property

[Lacy Goldman]

Can you wholesale a HUD property and if so how difficult is it?

[Crystal Smith]

Originally posted by @Lacy Goldman:  We've purchased HUD homes & sold them to investors using the following methods:

• Purchased the property outright, held it, then sold it- Not optimum because of closing costs but if purchased @ a deep enough discount it works
• Put the property under contract in an LLC, then sold the LLC- Again not optimum because of costs to establish an LLC & the subsequent paperwork.  We stopped doing this years ago.
• Put the property under contract in a Land Trust,  then sold it thru change of the Land Trust beneficiary.  We've found this to work the best.  Only potential issue is if the end buyer either doesn't understand Land Trust or is working w/ a lender that has a problem w/ Land Trusts.