All Forum Posts by: Mark Ferguson

Number one thing you can do is make sure your office has an NAID number and can sell HUD homes on buyer side. Then sell as many HUD homes as you can to buyers. The asset management companies for HUD want to see you working with them on the buyer side if you want to sell them on the seller side.

Not only can HUD fine the buyer up to $250,000 and 10 years in federal prison. The agent that sold him the house can lose his NAID number for his entire office and that office will be barred from selling any more HUD homes.

HUD takes this very serious and all information should eb passed on to HUD.

Hi Michelle Y., I'm not far at all. Did you get a suprise snow storm last night a well?

I really need to start marketing for deals better!

In my experience flipping is great for getting capital to buy long term rentals. I think long term rentals provide the passive income and financial freedom.

Welcome to the forums! I just joined as well but have loved all the blogs and other content. My preference is single family homes because of the low entry price and high cash flow in my area.

You basically take over all responsibility for the occupant. If you have to evict them or want to rent to them it is all on you to set it up. I have sold a few occupied REO and it is tricky for sure. Usually the best technique is to offer them a cash for keys deal like the banks do to get them to vacate in a timley manner and avoid an eviction. Most likely the bank already tried this and it didn't work well.

Thank you Brandon. I look foward to learning from and contributing too the forums.

Hi everyone, I am a Realtor and investor in Greleey Colorado. I recently started a blog on investing in long term single family homes and found this site while doing some research.

I have been a Realtor for over ten years and I have specailized in REO for the last five years. For those of you in REO I am in the NRBA and a US REO Partner. I am a HUD listing broker as well and love working with HUD! My dad has been an agent since 1978 and got me started in the business after I graduated from Univesity of Colorado.

I have been flipping homes with my father since before I got my license and we have probably done over 50 in the last ten years. It is getting harder and harder to find good deals to flip.

I bought my first single family rental in December of 2010 and have 6 now with another under contract. I am using the snowball effect to pay off one mortgage at a time with my cash flow. I should have the property I bought in 2010 paid off by the end of the year!

My goals are to sell 200 homes a year, flip ten a year and buy 100 single family rentals in the next ten years. I am not sure exactly how I will reach those goals, but what's thje point of goals if they don't challenge you!