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Updated almost 5 years ago on .

Christopher Wallace's profile image
Christopher Wallace's profile image
Christopher Wallace
  • Member since Mar 30, 2020
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Christopher Wallace's profile image
Christopher Wallace's profile image
Christopher Wallace
  • Member since Mar 30, 2020
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Christopher Wallace
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Buying & Selling Real Estate

Advice, HUD 2nd chance auction

Christopher Wallace
Posted

I am new to real estate investing. I ran across a property in post auction. The auction company said it is in HUD 2nd chance option, and they gave me a number too high to pursue. I have 2 questions.

1. What is a HUD 2nd chance option.

2. Will they accept lower if I explain that the ARV and repairs will barely combine to be the purchase price (it does not fit the 70% rule or the 2% rule)

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