HUD Discount Guidelines

[Steve Simpson]

I have been told by a few older investors in my area that there is a method to the discount rates HUD will accept on the houses they are selling based mostly on the time the house has been on the market. For instance, after 30 days HUD will accept 90% of the list price; after 60 days they'll accept 15%; etc.. These older gentleman claim they know the 'secret' behind this method but refuse to tell anyone since it would create un-needed competition in their wholesaling business.

I'm sure SOMEONE on here has to have atleast heard of this and might be willing to give away the secret :D . I am about to start a google search but I figured I'd tap the well of information on this site first.

Merry Christmas!