I bought a HUD foreclosure in 2004 and flipped it for a profit of $35k. In 2005 when I was looking for another flip, the prices were excruciatingly high and it took a good amount of time to find value. I bought in 2006 for 211k which was 61k below comps and made the mistake of doing the rehab myself.
By the time the house was ready to...
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