All Forum Posts by: P. Martin

Hi there

Is it his washing machine?

A neighbor of mine had received quotes for 5-10k for a small falling down shack

If you go on hudhomestore and look at the property it will show who can bid.

Only advantage I could think of as OO would be on the financing side.

Yes, if the property is now open to investors you can place a new bid as an investor and not have the occupancy requirement.

At this point the bidding will close every day at midnight, and if no acceptable bids are received it will stay active. If they select a bid it will go off market. Typically a lot of these places will go under contract multiple times before they are finally sold.

 The area definitely seems to be gentrifying and growing pretty rapidly right now. I am not sure I could stomach it if I let the property go as-is right now, only to find I left a huge amount of profit out there. I think if I sold as-is right now, at best I might recoup what I have spent. Would like to upgrade my current living standard, but I can deal with the living conditions for a little while longer!

I was actually just thinking about your hierarchy of needs analysis the other day @Matthew Elmer

@Dawn Anastasi Do you have a Habitat Restore nearby? They can vary pretty wildly but when there are deals to be found they are great. 

The fix and sell is definitely the easiest and lowest profit.

Scrape and rebuilding multiple units is pretty daunting! However, new construction in my zip code sells for $200 a square which is way above what I paid. 

Hah. Yes, close enough! At the time I was running BPOs for an REO broker in DFW. Helped Rob with AV production for a 3 day. Wanted to help with marketing but lost touch and moved out of Dallas.