I need some HUD help

1 Reply

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.

I'm seeing the same with HUD listings now - basically anything that is a decent value and maybe a potential fix and flip is going to O/O only. The listings that get to the "extended" period for investors don't make sense numbers wise for a flip. Maybe a buy and hold.

Wish I could help more but the foreclosure listings just keep getting more sparse in my area and I don't see anything improving in terms of finding potential properties any time soon. With that said, keep trying and something is bound to show up.

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