In this video, I am showing you how I find properties on Hubzu.com to bid on. As you can see from this video, there are a lot of signs on the property indicating that this property is a Hubzu property and that there is a hubzu auction online where you can bid on this property.
However, if you did not know what Hubzu was, or that it was an online auction site, you may just drive by this property and all you would see is a “for sale” sign.
If you are going to be buying and bidding on bank owned properties, then it is imperative that you understand how to identify bank owned properties when you are driving for dollars through your target market. Identifying Hubzu properties is one way to do that.
I anticipate that later this year, there will be many opportunities to buy bank owned properties at a discount on platforms like Hubzu.com
This may very well become one of the best real estate investing strategies of 2020. Hubzu.com is a website platform that sells bank owned properties for banks. They charge the banks a fee to liquidate their properties. All Hubzu properties are listed on the MLS as well but the key thing to know is that they are listed on the MLS at the opening bid price (which is not where the property will sell).
You can search the Hubzu platform for properties directly by City, County or State at www.hubzu.com. If you are driving through target market neighborhoods like I do every week, then it is not hard to notice these properties (since the signs are so obvious). I found this property by driving through my target market.
When you find a Hubzu property for sale, all you need to do is go to Hubzu.com to bid on that property. You need to register before you can bid and they may ask you for a credit card for the deposit. If you win a bid, you can wholesale the property (by double closing) or you can close on the property like I do and fix and flip it.
I have found many Hubzu homes just like this one by driving for dollars through my target market neighborhoods. If I see a Hubzu.com sign, I stop and I preview the property. Having a real estate license helps since I have the lockbox code to access the property (I recommend you get your license)
I preview the property and I calculate how much I would be willing to buy the property for (including what it would cost to repair the property). Then I go to their online platform at www.hubzu.com and I bid on the property up to my maximum bid.
This is a great way to find deals, and I have found hundreds of houses on this platform. I anticipate that with the increase in foreclosures and bank owned properties, this will be a very important platform towards the end of 2020 and into 2021.