The U.S. Department of Housing and Urban Development is working to give people like you $8,000 fast cash toward a first-time home purchase.

The program is a key revision to a measure Congress created as part of the stimulus package. It gives first-time homebuyers an $8,000 tax credit, hoping to prompt wary buyers to commit to a purchase. The problem is, the credit comes at tax time, too late to help homebuyers close on an opportunity that may arise before then.

HUD’s plan would alter this, so first-time homebuyers can get the cash they need when they need it. Its goal is to make the money available when buyers close on their home loans.

Department officials are still working on the details. But should the program come through, it could give you the cash you need to buy now.

It’s not too early to start looking for a home where you could invest that money. The more prepared you are, the better deal you will likely secure if and when HUD approves the program. Here at Damelecia, we have a variety of properties to browse through. Sign up to receive free listings below.

It’s an investment strategy that has several variations, including the following:

• The market is full of properties that are nearing foreclosure. The owner is often willing to sell the home at a steep discount to avoid the mar on their credit a foreclosure would leave. You can negotiate a deal that is well below market value, and then sell it to another investor or retailer at a price that is still below the value, but earns you a cozy profit.

• Buying fixer-uppers — or handyman specials — affords the investor a great discount on the price of a home. You make the repairs and then sell it with the cost of the improvements plus a profit.

• You can buy homes from distressed homeowners who can’t keep up with their mortgage, then rent to the property owner with the option of them buying it back at a profit.

The market is rife with opportunities for wholesale transitions if you know the tricks. Damelecia has a roster of homes available to the wholesaler, so you don’t have to do the footwork. We will help you develop a network of investors, connect you to possible investments and coach you through the process.

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Whether you fall in any of these groups, Damelecia can help you find a gem in a distressed property or a handyman special, especially with the variety of properties available in Southern Florida. Handyman specials are homes listed with a steep discount because they need repairs. Distressed properties are those in which the previous owner has fallen in arrears on their mortgage payment or property taxes.

With the rash of foreclosures across the state, there are a variety of distressed properties available for lower prices than the market has seen in years. Banks are seeking to close on deals fast. For an investor, the opportunities to capitalize are endless. For someone looking for a home, now is a great time to start your search.

Prices are even lower on fixer-uppers for buyers or investors who want to polish their purchase themselves. Some require new paint, while others need more extensive renovation. Either way, you can save tens of thousands of dollars by doing the repairs yourself instead of purchasing a finished home.

Southern Florida has a multitude of deals for the investor seeking to fix and flip a property. The value of a home goes up significantly after a renovation. Sometimes even a few repairs and landscaping can make the difference between a hefty profit and breaking even.

If you are looking to purchase a home for the long-term, a handyman special is a great option. The repairs need take only months to a year, while you will enjoy the results for years to come.

For those looking for a home for their family, fixer-uppers are a great way to save, especially for first-time home buyers looking to enter the market. Homes that need just a little TLC are often marked down more than it would cost to make the repairs. Taking on such projects will allow you to make the home your own. Dream homes don’t always have to come in perfect packages. You can turn a home into yours.

To start browsing the options Damelecia has gathered, register to join our buyers list.

There are a variety of handyman special real estate deals in Florida – waiting for you to pick up the paint brush. A handyman special is a home that sells at a lower price compared to other houses on the market because it is in need of repairs. A fixer-upper is a great option for both those looking to settle into a home as well as investors hoping to turn for profit.

The prices of such homes – some of which are below $50,000 – are obviously the first draw. But why go to all the trouble?

• Buy where you want, not where you can afford. Handyman specials are often found tucked in attractive neighborhoods where live-in ready homes are selling far beyond your price range. Buying a house that needs some tweaking allows you to break into the area you want to live or invest in, instead of compromising for a neighborhood that is further away from conveniences or shabbier than you envisioned.

• Maximize your profits. Buyers or investors who renovate with common sense and efficiency can turn the final polished home for a much steeper price than they bought it for. The potential for large profit margins on handyman specials is often tens of thousands of dollars more than on completed homes.

• Get an even better deal. Often sellers of handyman specials are eager to hand off the properties. They don’t have the time or money to invest in making the fixes themselves, so it is to their benefit to make the sale fast. Damelecia has used this as negotiating leverage when purchasing the homes we have on our roster, and we’re passing on the deals to you.

• Sellers are everywhere, buyers are scarce. In almost every neighborhood, there is a home in need of a facelift or a few touch ups. Their sellers aren’t waiting for the market to climb. They usually are poised ready to sell them to someone willing to take on the work. Not many are. That means there are less buyers competing for a number of options.

• Cater your home to your tastes. If you renovate a home, you pick the door knobs. You choose the appliances. You select the color of the walls. The finished home will contain your personal touch. There is a certain reward that comes with walking through a home newly renovated with elements that you hand-picked. You can take pride in knowing there are no other homes like it and few that contain all of the features you had hoped for. For investors, choosing a handyman special gives you the ability to pick and choose how to invest your money in improvements in order to get the best return during a resale.

Handyman specials often attract those with construction skills.  True, if you know how to wire a home or install cabinets, you could save on labor costs. But you don’t need to be a handyman to buy a handyman special. Even if you hire a contractor, they will often do the work for much less than you would have paid for a home in mint condition. Fixer-uppers are a good match for anyone who wants to live or invest outside cookie-cutter walls.

Many homes don’t need to be torn down to the framework. For those seeking a less-ambitious project, there are deals on homes that need just a few touch ups, such as new paint or doors.

The current market has generated an even greater variety of handyman special real estate deals in Florida. It’s up to you to start painting in the lines of your dream home or filling in the empty spaces between you and a profit. Damelecia can help you find one that matches your goals. Fill out the form below for a free no-obligation listing.