Wholesaling HUD, noticed a trend here in Florida.....

[Mike Nelson]

Is there some strategy for wholesaling HUD homes that I'm not aware of? For instance, I am on a few buyer lists and have received several emails regarding HUD homes. I will research the property and see the home is still held by HUD. I have been getting a lot of these lately, so what Im wondering is.... A) Are these investors actually bidding and winning on these properties only to risk $500-1000 EMD each if they don't move them? , or B) Are they in cahoots with agents who list these properties or know which one will be available to bid on so they can began advertising early? Not sure the later is possible buy wanted to get some feedback from people dealing with HUD homes. I have been noticing A LOT of these....

[Steve Babiak]

HUD bidding is all done online, so the agent cannot be in cahoots with anybody who's a buyer as far as getting bids accepted. the agent might make it possible for the investor buyer to view the property before it gets listed on the MLS, but even then there is often a first look period with no investor bids accepted.