Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 54%
$32.50 /mo
$390 billed annualy
MONTHLY
$69 /mo
billed monthly
7 day free trial. Cancel anytime
×
Take Your Forum Experience
to the Next Level
Create a free account and join over 3 million investors sharing
their journeys and helping each other succeed.
Use your real name
By signing up, you indicate that you agree to the BiggerPockets Terms & Conditions.
Already a member?  Login here
Starting Out
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated over 16 years ago on . Most recent reply

User Stats

47
Posts
2
Votes
William MacBride
  • Handyman
  • NY
2
Votes |
47
Posts

Can anyone clarify this paragraph?

William MacBride
  • Handyman
  • NY
Posted

this paragraph is from an online article on wholesaling on ehow.com (which I find a very good, distilled kind of info resource by the way.)
"One of my investors wants the deal for $200,000 so I execute my option, then I assign my contract to the end investor placing myself on the HUD as a Realtor getting paid $7,500 with the remainder going to my Property Locator for his option fee. If your not a licensed agent, you go on the HUD as receiving an assignment fee."
The part that confuses me is the "go on the HUD" and "placing myself on the HUD" business. This is probably some really basic thing but what is the department of housing and urban developement doing in this paragraph? Does every real estate deal get "registered" with the HUD or something, as to the type of transaction it is and who the principal interested parties are and all that?

Will

Loading replies...