OfflineThis is my 2nd HUD house and 3rd deal overall. First 2 I wholesaled. This is will be a Buy, fix, and flip. I have all my documents ready for the Independent contractor Agreement so I can start the pre-screening phase for contractors and be ready to go the day this deal closes. ARV is $110K and I got it for $55K. With estimated rehab costs of 20-25K, Looking for a $30K profit!
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AaronD
That’s fantastic Aaron. It’s great to see people making money and moving forward with their investing. It’s also great that you are posting your success here, so that other students can read it and gain inspiration from it.
Real estate investing works, and sometimes the challenges we encounter can dampen our spirits and drive. We need to read of successes people are having. Great job!! Looking forward to hearing about deal #3!
How many offers did you make before getting this 2nd HUD accepted? And did you assign your last 2 deals or double closed on them?
Good luck on your rehab deal!!
Reynold Orozco
One assignment, one double close. This last offer was my third offer on this property. Apparently HUD discards all previous non acceptable offers and when they drop the price a new "net acceptable to HUD" is generated. My second offer was 10K HIGHER than the new minimum acceptable offer so I offered 15k lower and got it.
AaronD
Aaron,
Great Job! That sounds like a great deal
It is always inspiring to read success stories. Keep it up and thanks for sharing.
Julie Wakefield
John and Julie Wakefield
JCW Properties, LLC