HUD Buyers/Flippers/Wholesalers Question

[Morris Lucas]

For those of you who bid on HUD properties, i was wondering how do you know if it is a deal that is good enough to bid on? i assume you cannot enter these properties to access the damages/repairs, and even if you could, you may may have to pull the trigger immediately if deal is good...Do you just consider recent comps for main criteria? Same goes for MLS deals that require quick action with no time to visit property...what is the biggest factor you look for or do you have buyers already you already know who will want the property based on neighborhood, price, sq ft, etc

[Bryan L.]

@Morris Lucas - Generally speaking, I don't chase the "hot" new listings that have so much activity on them like you are describing. Too many people, making too many offers, and most of them being too high. I like to focus my attention on what I call the "hidden MLS deals". Here's an example: many investors won't pursue houses that do not have 2 full baths. But, what about that poor listing over there on Maple Street that's not getting any offers because it only has a bath and a half. What if I can go in and add a shower stall into that half-bath? Hmmmmm.