Buying Forclosures / Bank Repo's / HUD's

Buying a foreclosed property or HUD's (nickname) directly can be a challenging process waiting through the auction period. There are also restrictions who can buy first, disaster victims, Police Officer's / School Teachers , Owner Occupant's and finally investors. also not necessarily always the best value. The Department of HUD has been offering Foreclosures at almost the same price as what the market will bare or just slightly under not leaving much room to fix up and flip. But a great value to a Police Officer or Teacher who can purchase the property at 50% of the value.

Bank Reposessions on the other hand are easier to acquire (usually a 45-60 closing) because banks don't care about the market they want to get the money back for the defaulted mortgage loan as quickly as possible.

I have been a HUD Trained Agent for 2 years now, I believe we are going to see an increase in the number of Bank Repo's / Foreclosures in Albuquerque in the next year. Both of these type of Investments both to occupy or to "flip" can be great investments.


To help fix up those floors in your new forclosure look at this great deal I made with Orangeglow:

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