Hud Deal update - Posted by Joe Baysh

Posted by dewCO on December 08, 2000 at 16:50:02:

Hmmmm seems you didn’t have to look too hard for the structural problems, as was my answer to your query!

They aren’t all that bad though. However, it’s been my experience that if your area has a strong/hot RE market they don’t price them a bargains either, unless there is something REALLY wrong with them.

Look for MOTIVATED sellers. Check the archives.

Hud Deal update - Posted by Joe Baysh

Posted by Joe Baysh on December 07, 2000 at 22:10:54:

I posted earlier in the week that I was going to check out a HUD property, and that I had very little experience in RE investing.

What an eye opener! Not only was the basement and second floor roped off and off limits due to unsafe stairwells, but the house seemed to have shifted off the foundation. Nice neighborhood, but that was about as good as it got. The HUD Agent was really struggling to find nice things to say, and finally looked at me and my neighbor and said “Seen enough.” She couldn’t wait to get out of the place.

So goes my first venture into this RE thing, I gotta feel it can only improve from here.