When Can Investors Buy A HUD Home? Some Information And More

If you are planning on investing in HUD homes or homes being sold by the House and Urban Development, you should know that the rules for HUD homes are different than when you are buying a regular home. This is because the department does its business through a bidding system that is restricted to property occupants, government agencies, and nonprofit organizations.

In this article, we are going to talk about how the HUD system works and how you can take advantage of it.

The bidding all happens on the website http://hudhomestore.com. Private investors, however, cannot bid on the system. This is because the HUD has a system in place whereby there are different asset management companies that manage properties in the different areas across the country. These asset management companies use real estate brokers to list and market homes by the HUD. What this means is that only HUD real estate brokers can bid on the HUD Homestore website, although they can submit investors bids on behalf of investors.

There are two types of property that can be listed in there – uninsured and insured. Insured just means a property is backed by the Federal Housing Authority or FHA, and uninsured just means it is not.

When an insured property is first listed, the occupant, government agencies, and nonprofit organizations are the only ones that can bid on it within the first 15 days. On the 16th day, investors can submit their bids. For uninsured properties, bidding is restricted only for the first five days, after which anyone interested can make a bid. You know you can bid on a property when it says “All bidders” in the listing.

There is every incentive for real estate investors to buy HUD homes. For one, they are reasonably priced. For another, you can actually bid up to 12% lower than the asking price.

If you plan on bidding on a HUD property, there are some things you need to know. For one, only real estate brokers can submit a bid on your behalf. However, you do not deal with just any broker. You need to deal with one that can provide you with a NAID number. Only brokers with NAID numbers can submit bids on the HUD Homestore website.

So, the first thing you need to do when it comes to buying a HUD home is to find a broker that can submit a bid for you. You can easily find brokers. Just search for them on Google by using the search term HUD broker plus the name of your local area. Again, before asking a broker to submit a bid for you, make sure to ask for the broker’s NAID number.

The keys to successfully investing in HUD homes is to look at the period deadline. The period deadline is simply the date for when the occupants, government agencies, and nonprofit groups can bid on the property. You can bid on a property the day after the period deadline.

As for submitting the bids themselves, you need to provide the following information: social security number, tax ID number, or EIN number. You are not required to submit documents at this point.

Once your bid is submitted, you need to wait for the HUD to respond within 48 hours. If you do not get a response, there is a high chance that your bid was rejected. You can verify by asking your broker to check the status of your bid. If there are no other bids accepted, you can actually bid again. At other times you might get a counter offer from the HUD, but often times it just informs you of the net price the agency is willing to accept.

When your bid is accepted, though, your agent will be notified via email. Instructions on how to send the paperwork will go along with the email. You and your agent will have 48 hours to send the original documents. The forty-eight hours does not apply to weekends and holidays.

What documents do you need to submit? You will need to send the following: proof of funds or prequalification letter, HUD-provided sales contract, disclosures, and addendum. You will also need to provide certified funds for the purchase as well as earnest money, which is non-refundable. Your real estate agent should be able to help you with the details.

How much earnest money do you send? It’s $500 for contracts at $50,000 and below and $1,000 for contracts over $50,000.

This is something very important: Your agent needs to inform the HUD that your package is going to be late, that is if it is going to be late. Anyway, if the documents you send requires any corrections, the HUD will inform your agent and you will have 24 hours to send the corrections.

As you can see from above, the process of buying a HUD home is totally different from that of a regular real estate transaction. This is mainly because of the bidding system. However, just because it is different, it does not mean it is difficult. It can be easy, especially if you work with a NAID real estate agent.

How do you complete an inspection on a property? When the HUD signs the purchase contract, they will email your agent with a signed copy along with the appraisal and a request for turning on utilities. You have 15 days after the HUD signs the contract to inspect the property, and you have a three-day window to check the utilities. Make sure to send, as soon as possible, the request for activation of the utilities to the HUD’s property preservation company.

There are investors out there that like to pose as a HUD homeowner because they want to bid on the property first. However, we would like to warn you against this practice. HUD homes are very desirable and so investors have no qualms about reporting posers to the government. Investors who are caught posing as homeowners can be fined $250,000 and be required to spend time in prison.

5 Ways To Find Investors To Buy Your Home by Florida WolfWantsHouses

Finding investors to buy your home is not as hard as you think. You just need to know where to look and how to find them. If you have a home you want an investor to buy, then you’ve come to the right place. Here’s how to find investors to buy your home.

1. Real Estate Investor Clubs

There’s a good chance that there’s a real estate investor’s club in your area or just a short drive away. These clubs are sometimes known as real estate investor associations and are a great place to sell a house fast.

State: Florida

Cities:

Regardless of what they are called, you should see if there are any real estate investor clubs in the area and when they plan on meeting next. You can attend one of their gatherings and see if anyone is interested in purchasing your home.

  1. https://www.creonline.com/Real-Estate-Investment-Clubs/index.html
  2. https://www.cfri.net/
  3. https://www.meetup.com/Distressed-Real-Estate-Investors/
  4. https://palmbeachia.com/
  5. http://bocarealestateclub.com/
  6. http://www.foreclosureuniversity.com/studycenter/investmentgroups/florida.php
  7. http://breia.com/

Also, the National REIA and the REI Club are good places to turn to. They can point you to your nearest real estate investor’s club, but make sure you let them know what kind of investor you want because there are numerous types of investors and not all of them may be interested in buying a home. The good news is there are plenty of investors at these clubs that are, so finding one that may want to buy your home shouldn’t be difficult. Here’s a tip, contact a few investor clubs and don’t accept the very first offer you come across because you want to compare as many offers as possible and choose the best one.

2. Forums

The internet is home to so many different types of forums, and this includes real estate investor forums. What you want to do is search for these websites and see if there are any investors from your area that are using them. Some forums are more popular than others, so take the time to browse as many as possible. As a rule of thumb, make a list of 3-5 real estate investor forums and then visit them and use them frequently.

You might come across investors that do business in only your area, while some investors do business all around the country. It’s up to you which investors you want to sell to if any are interested in your home. Keep in mind that a real estate investor on a forum will likely want you to provide them with as much info about your property as possible, but make sure they are legit and are a real company with credentials. The best forums will vet their members, so try to use websites that verify their members because you don’t want to get your hopes up, only to be let down by an investor who wasn’t what you thought they were.

3. Classified Websites

Craigslist is one of the largest, if not the largest, classified website around and you can find anything on it. This includes potential real estate investors, so make sure you visit Craigslist and visit their real estate section. You may find a few investor ads on the site, and these ads make it clear they buy properties. When you respond to an ad, ask the potential investors a number of questions and ask if they have a link to their website because you want to make sure they are a real investor and a serious investor, and not just an amateur who doesn’t know what they are doing.

Furthermore, Craigslist isn’t the only classified website, so use Google to find a few other sites like Craigslist. Doing this increases your chances of finding investors to purchase your property. Just keep in mind it’s a good idea to not accept the very first offer you come across and you should find investors the other ways before you accept an offer from someone you found via a classified website. In fact, it’s a good idea to get as many offers from investors as you can and compare them before making any decision.

4. Advertise

One of a unique ways to find investors to buy your home is by placing an advertisement in real estate newspapers, on social media and websites related to real estate. Sure, you have to pay for advertising, but it’s worth it because you can expose your home to many potential investors that you might not have got noticed by otherwise. Use three different methods of advertising and see what kind of response you get. The main reason why you want to advertise your property and advertise you’re seeking an investor is because investors spend a lot of their time looking online for properties to buy and they also spend time looking offline.

5. Find A Buy Homes For Cash Company

You have probably come across many ads that say they buy homes for cash, and these companies are known as buy homes for cash companies. What they really are is an investor or group of investors, and they buy homes for cash and then resell them at some point in the future. If you have a home you want to sell real quick, then selling to a buy my house for cash company may be the way to go. There are many benefits of using such a company.

All you have to do is go to Google and search for “buy my house for cash” and you’ll be shown many companies that purchase properties for cash. All you have to do is contact a few and they will inspect your property and then provide you with a quote. If you accept one of their cash offers, then you can take the next step and officially sell it to them. A good company will offer you a fair amount of money and they will take care of closing costs and they will purchase your home regardless of its current condition, as well as make the entire process as stress-free as possible.

Those are only a few ways to find investors to buy your home. Give some of them a try, but do feel free to research others ways. However, the methods discussed above tend to be the best ways to find investors.

How Far Can Luxury Brands Safely Travel?

When someone buys a product from a luxury brand, they usually aren’t paying for a name alone. Many people who buy these items choose them because they want a top-quality product.

However, some people worry about how far their luxury brands can travel. This is particularly true when it comes to items like handbags and luggage.

If you are worried about the safety of your luxury brands, keep reading. These tips will help you to keep your most expensive items safe.

Only Get Brands That Are Respected

Some luxury brands don’t sell anything more than a name to their consumers. The luxury association isn’t about the product itself; it is about the way that the general public receives that product.

Brands like this tend to be newer, and they don’t have a lot of respect from people in the industry. Brands that have been around a long time and have garnered a lot of support are the ones that you want to buy from.

Always Do Your Research

Don’t buy any product unless you have taken the time to research it. As an example, if you are going to be purchasing a luxury case for your notebook computer, you should make sure that you read plenty of reviews. Don’t focus on reviews that were written immediately after a purchase; look for reviews that describe how long the product has held up over time.

If you can’t find a lot of information on a product, you may want to hold off on purchasing it. While buying a luxury brand can be nice, you don’t want to buy a product that you don’t know anything about.

Care For The Items That You Purchase

Once you have purchased a luxury item, make sure you take good care of it. A suitcase can last for decades or more, but you need to make sure that that suitcase is properly cared for. If you don’t treat your possessions well, they will wind up wearing down over time.

In most cases, the luxury items you purchase will come with some sort of manual. Don’t toss that manual aside; take a good long look at it. It will tell you everything you need to know about caring for your item.

Sometimes, It Makes Sense To Pay More

People are naturally conditioned to look for a bargain, even when they are buying luxury items. However, in some cases, it makes more sense to pay a little bit more for the items you are purchasing.

“Some brands are much more durable than others. Take for example Macy’s or any big retail brand of towels. Then compare it to luxury brands from Europe and other places. The thread count and feel is very different.”

There is more to a good deal than the item’s original price. You should also think about how much value the item provides over time. If your luxury brand item can safely travel long distances, then it makes sense to spend more money to obtain it.

The best luxury brands can be taken all around the world. This items can last for a very long time. If you want to enjoy your luxury brands, then make sure you invest in the right kinds of products.

The 411 for 2016: FAA Requires You To Register Your Drone

It is legal to fly personal drones within the United States, however, the Federal government now requires most of them to be registered and include the name of the owner. This requirement is a result of the growing number of incidents and close calls which are posing safety risks. Flying drones are growing in popularity and the pilot sightings of drones more than doubled in just one year. These sightings occurred near passenger planes, over major sporting events, and even over wildfire operations. At one point, wildfire operations had to ground their firefighting aircraft because of possible drone interference.

The Federal Aviation Administration believes registration of drones will help ensure drone operators fly responsibly because if a drone causes a safety issue, the owner can be held responsible.

Under the new guidelines, toys and small drones which fly below 200 feet do not have to be registered. It is both the affordability and access to drones (correction) which worry the FAA. The number of drone sales is escalating annually, with more than a million sold in 2015. There were more than 700,000 sold over the past holiday season alone.

With so many drones in the air, it is imperative that the operators comply with safety guidelines. The FAA’s goal is to ensure drones which might pose a safety risk are registered, but not to force a prohibitive burden on those who fly for purely recreational or educational reasons. There are drone operators who have been flying drones for years and who have never posed a safety risk to their community.

Unfortunately, there are others who seem to fly their drones with no concern for the possible repercussions. Every month, the FAA receives more than 100 complaints from pilots who observed drones flying near airports and planes. This number used to be just a few each month. The FAA is concerned about the implications of a drone weighing a few pounds being sucked into the engine of an airplane or smashing into the windshield.

Additionally, there have been drone crashes in crowded areas, such as sports arenas and it has been almost impossible to find the operators. Requiring registration will hopefully provide law enforcement officials some information on who owns these drones. The FAA is also studying technology which can help locate drone operators who are flying their drones illegally near airports. The technology tracks the radio signals that are used to operate the drones.

Drones are currently used by law enforcement for surveillance and by manufacturers to monitor equipment and facilities. Some companies, Amazon being one of the most notable, are looking at ways to incorporate drones into their delivery mechanisms. With the growth of personal drones and the difficulty controlling where they fly, privacy concerns are all too real. How does the privacy of an individual weigh against the freedom of another to fly their personal drone anywhere they want. If it flies above another’s property and observes certain activities, is that a violation of one person’s rights? These are important questions which must be answered quickly before someone who does not like a drone flying over their backyard shoots it out of the sky.

Who Is The Real FouseyTube? Just Pranks Or Hidden Agenda

Fouseytube currently has over 2 million subscribers to his own YouTube channel, and over 15 million individuals have already watched his Yoga Pants Prank known as his most-popular video to date. His Facebook page states that his name is Yousef Saleh Erakat during the day and he becomes Fouseytube by night. This is really fitting according to the BBC as this gregarious and super-confident man that is seen on the Fouseytube prank videos is actually very awkward and shy as soon as the cameras stop.

“life is but a dream” the tagline for Yousef Saleh Erakat’s Twitter

In interviews he states that no person can act or walk around like he portrays himself 24 hours a day. He goes on to say that nobody really knows about his real personality when he is by himself.

Yousef Saleh Erakat is 24 years old and was raised in California, he is the youngest out of 4 children and belongs to a Palestinian-American family. When he is “off-stage” he is regarded as the shyest out of all his siblings and there is a vast difference between his private life and his acting persona. This usually comes as a great surprise to any of his followers that enjoy watching the YouTube channel Fouseytube that was first created on the 25 of March 2011.

His YouTube channel portrays a “larger than life” character that plays a host of pranks on various people. Some of the pranks are funny and really silly such as a prank that involves making strangers believe that he has dropped their phones after he has used it.

Yousef indicated very early signs that he was going to become an entertainer and was well known for making various home videos. His sister Noura who is an activist and Human Rights lawyer encouraged her brother to pursue a career in acting. He went on to study at the SJSU (San Jose State University). David Kahn who is chair of theatre, film, radio and television studies at this university says that Yousef is a personable and extremely focused young man as well as been a very funny observer when it comes to the Muslim American life.

Even though he has been described as a hilarious entertainer, he focuses on creating videos that contain underlying moral messages. He has always been known to root for the underdog and the message is always bigger. Now he has many followers that he enjoys portraying these important moral messages to.

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