All Forum Posts by: Cally Doyle

Great opportunity ...  Its a money maker for the right 

investor.  I need a hard money lender - points on front and back and paid out in one year - interest only note, and in first lien 

position of course. Loan amount $88K ARV 200K End User in Place.

FNMA makes you initial in their addendum what you can resell for and what that limit is. HUD does not do that, that is absolutely true. THere is NO where on the HUD 9548 Sams contract or any addendums that state that. However, that owner occupant form clearly states the penalties. I have seen brokers try to flip them and fill out false O/O forms. They are no longer in business.

I have never sold HUD homes in Denver so I wouldnt know about colorado. I heard they were a little more liberal and progressive there.

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Hello Fellow Real Estaters!!!! I live and work here in Tampa Florida....the GURU city for investing. I Love to sell HUD homes, and bank REO's...I know I know,,,I am crazy. I also do courthouse purchases for Investors and just all around any good deals that make sense. My number one specialty is Rehabbing houses. My team...General Contractor and crew....is amazing at making over ugly houses. We pretty them up and put them back on the market for profit. We fully disclose this fact to all sellers. I love what I do. I am licensed and I do deals for myself as well as my clients. (If Im any good at this, there is NO reason not too correct"?) I never compete with my clients. I have a great name in the industry and sellers call me looking to get rid of their distressed properties. Most of my deals are not over exposed and not even listed the traditional, way. If you have proof 0f funds and want to make money with a seasoned industry veteran....then I am the investor friendly gal for you. All my deals that I offer come complete with an estimate of work from Lic. Gen contractor bid. All deals come with a mock settlement statement complete with repairs, closing costs, holding costs, and a realistic ARV...never inflated. and of course a bottom line net profit. It took me a long time to make this house flipping stuff a success. Lots of bumps and bruises along the way. I wholesale distressed properties also. (cant fix em all....) I will even give you ROI* on rentals if you need them for your portfolio. So besides being a MOM, Real Estate is life.

I have been selling HUD homes for 21 years. I even teach seminars on this very topic. so here is the deal.....IF you purchase a HUD home with the intent of flipping it...here is what you need to know. The title is flagged. If you try to sell it before your one year mark, the title company will tell you that there is a lien - A government placed lien for one year. You will not be able to sell it and you will be subject to a $250K fine and or 5 yr felony imprisonment. Its like selling your welfare card for drug money. Government abuse comes in many forms. The owner occ. form asks if you have purchased a hud home in the last two years as an o/o? Then it clearly states "This offer is being submitted with the representation that I/we will occupy the property as my/our Primary residence for at least 12 months." I hope this helps. - Signed HudQueen of Tampa