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Updated over 5 years ago on . Most recent reply

Juan Martinez's profile image
Juan Martinez's profile image
Juan Martinez
  • Rental Property Investor
  • from El Paso, TX
  • Member since Aug 5, 2019
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Juan Martinez's profile image
Juan Martinez's profile image
Juan Martinez
  • Rental Property Investor
  • from El Paso, TX
  • Member since Aug 5, 2019
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Juan Martinez
  • Rental Property Investor
  • El Paso, TX
1
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Wholesaling

Can I wholesale a HUD home?

Juan Martinez
  • Rental Property Investor
  • El Paso, TX
Posted

My offer was accepted on a HUD home but I was not able to secure financing for the flip as I have my money in another property that is going on the market in a couple of weeks. Hard money lenders are asking me for around $10k down to finance the house and repairs. I was thinking of offering the house wholesale to assign the contract but I am not sure I can do that on HUD homes. Any help or ideas? I am fairly new on my 3rd flip.

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Tom S.'s profile image
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Tom S.
  • Real Estate Investor
  • from Burlington, VT
  • Member since Feb 4, 2010
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Tom S.'s profile image
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Tom S.
  • Real Estate Investor
  • from Burlington, VT
  • Member since Feb 4, 2010
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Tom S.
  • Real Estate Investor
  • Burlington, VT
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Tom S.
  • Real Estate Investor
  • Burlington, VT
Replied

@Juan Martinez Read your contract to see if it's assignable. Any HUD purchase I've done it specifically says it is not assignable and that the contract is void if altered in any way.

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