All Forum Posts by: Christopher Hunt

Great find!

You can't tie up a home with HUD unless you actually purchase it yourself with your own funds (cash,financing, etc). Also if you purchase it as an owner occupant, there are limitations to what you can do with the property (occupy for a year) and also how soon you can bid on any Hud properties ( 2 years).

And yes you need a HUD broker to bid for you.

Hey friend, 

fellow NC resident here.  I am new to the game myself, but would be glad to spare some time to show you what I've learned.  I live in Asheboro but am traveling to Kernersville every other day for a renovation project.  Message me if you're interested in networking.

This is something I've thought of and have searched previously in the forums.

I personally wouldn't know because I drive a Mustang.

As far as appearance to real estate agents, insurance agents, bank employees, renovation workers; I don't care what they think of me.

I try not to be flashy when I am showing a house though to potential tenants.

Invest the money instead. I purchased my 1st property with 7k down payment, refinanced and pulled 24k out of it. Purchased my 2nd property with 9k down payment, $275 cash flow/month. Purchased my 3rd property 28k cash, will refinance and pull 37k out of it, and will still have $250/month cash flow.

Do you want to make money, or make someone else money?

Sounds like if your bank is unwilling to modify the note then your only choice is to refi. If you choose to refi, try to do it to your advantage (refi-cash out) instead of just doing it for the sake of freeing up a loan slot

No, this not a good deal.

There are deals out there.... keep looking. Try a different real estate agent (give them the specifics of what you desire.. explain to them the 2% rule).

Get a partner(s). Or check out the hard money lenders list on the site. biggerpockets.com/hardmoneylenders

Buy 2

Thanks! I read your success story on the duplex. I hope to move on to bigger deals later on.