I Just Noticed...
I've been reading several REI sites, reading several books, hanging out with a mentor - not one posting, not one book, and not one discussion has ever mentioned HUD or VA repos.
Are they just not a good source?
By having the ability to search a TCI forum you can gain a lot of knowledge!
See HUD repos
http://www.thecreativeinvestor.com/modules.php?name=Forum&file=search&term=HUD+repos&addterms=all&forum=all&search_username=&sortby=p.post_time+desc&searchboth=both&submit=Search
See VA repos
http://www.thecreativeinvestor.com/modules.php?name=Forum&file=search&term=VA+repos&addterms=all&forum=all&search_username=&sortby=p.post_time+desc&searchboth=both&submit=Search
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Tried that.
Access denied.
Sorry about that - Search is for paid members - well worth its value!
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HUD and VA are now sold through private companies acting as middlemen. The deals they offer are not as good. In fact they boast that they are saving the taxpayers lots of money by getting more money for the houses than when HUD and VA sold them directly. They are trying to sell at retail prices; in this market it is working. Only time will tell if the good deals come back.
My brother in law owns over a million in HUD real estate that he has purchased over the past fifteen years. He says that the main problem with HUD is the status of the home when you buy it ... unless you are a handyman extrordinaire. He says that you have to fix it when you buy it to get it up to HUD standards and you usually have to fix it when the clients move out.