Skip to content
Buying & Selling Real Estate

User Stats

47
Posts
20
Votes
Jeff Gebhart
  • Investor
  • Grand Rapids, MI
20
Votes |
47
Posts

I need some HUD help

Jeff Gebhart
  • Investor
  • Grand Rapids, MI
Posted Sep 24 2015, 05:08

I've made it a goal to learn the HUD homes side of real estate investing. I have watched videos on youtube, talked with realtors and read whatever I can get my hands on. We are not looking at these properties to buy and hold for now. We are looking to flip these houses. Goal is to build up our equity so we can invest into multi-family units and possibly commercial. We have 9 units of mostly SFH but see more growth potential in multi-family. I feel my knowledge of estimating renovation costs is pretty good (as we have done some flips) and have a good support for second opinions. I go to these houses, after I see all that needs to be done to them there I find there is no room for profit. Our numbers are projected so we make $20K per house (knowing that "unknowns" happen and that $20K can become $10K pretty quick). Several would make decent buy and hold SFH rentals but that isn't what I am looking for. Is there any HUD house flippers out there that would take me under their wing??? Would love any advice.

Loading replies...