Property investors have a hard time finding good HUD home deals. Over the past year we saw the number of HUD homes available to investors shrink relative to Columbus houses open to owner occupants. On top of it, owner occupants out-bid investors on most suburban HUD homes by a significant margin.

It appears to me that there is a minor change happening as the year draws to an end. When I compiled the bargain hunters spreadsheet yesterday, I noticed that the number of HUD homes available for property investors has increased. But that’s not all. There are more suburban homes on the list, as well, and HUD is ready to make a deal to get these properties off their books.

Here are 3 suburban HUD homes you should consider as a property investor:

The first house I want to mention is 5248 Mardela Drive – New Albany Schools, Westerville address. This home fell out of contract a few times. It’s now listed for $125,000. It certainly needs work. You can probably get it for around $90K. Here’s an insider secret: there’s not much competition, only one bid was submitted when it went in contract last time.

My second buy for investors is the house at 3038 Deepwood Drive in Reynoldsburg. This is a small ranch with an asking price of $62,000. It certainly needs TLC, but it could make a great lease option property. You can probably get it for less than $50K.

The third and final deal I would like to recommend is a country estate. The address is 1942 Country Road 153 in Ashley, Ohio. This is 25 minutes north of the City of Delaware, just off state route 42. It is a huge house of more than 3,000 sqft, 4 bedrooms, a 4 car garage and other outbuildings. It has been remodeled by the previous owner (including new windows, new A/C  and a new roof) and only needs new flooring. The current list price is $144,000, but I believe it will go for around $115,000. I’ve been inside and it is pretty impressive.

Call me at (614) 395-7375 and I will give you my best guess on what I believe HUD will accept.

Thanks for reading our Columbus HUD Homes Blog
Posted by: Susanne Novak, ABR, FIS, GRI
Columbus Realtors specializing in
HUD Homes, Shortsales, Investment Real Estate
(614) 975-9650