Posted by Deb Van on January 06, 2001 at 10:55:10:
Just wanted to add, I found out you can go to www.hud.org to sign up for e-mail delivery of hud homes in your state. In the future, I can use www.create-a-mortgage .com for structuring the note. I would imagine, this would have to be done before bidding and also would have to have comps ready for investor prior to bidding.
Create Note, Sell to investor and bid on HUD house - Posted by Deb Van
Posted by Deb Van on January 04, 2001 at 19:10:15:
I was very inspired after reading JP Vaughan’s article on how to create your own mortgage. After reading this very informative article, I did have several questions and was wondering maybe in JP Vaughan could comment. My first question is how would you create a mortgage, sell to an investor and be ready to bid on the HUD house on the day of the auction? Do you get a list from HUD weeks before the auction, so you can investigate the properties, propose the deal to an investor, get your money from the investor before the auction, then bid with the money from the investor? I’m not certain as to the sequence of events.
Also, how does one get a list on HUD homes in the Naples/Bonita Springs, Fla. area?
Last question, do you think it would be advantageous to try to sell the note on notenetwork.com?
Vaughn’s method for buying with OPM, with no check seems to be one of the best methods for investing with no $$$ down(well some, but not much) that I have read.