What is a HUD Home? A HUD home is a home that was financed with a FHA insured mortgage and the owner fails to make the payments. The lender then forecloses on the home; HUD pays the lender; and HUD takes ownership of the home (and markets for sale). Who can buy a HUD Home? Any approved buyer who qualifies for a mortgage can buy a HUD home. How can I find out what HUD homes are for sale? Potential buyers may search for HUD homes on HUD’s website www.hud.gov , or HomeSource’s www.hudhomestore.com. How do I buy a HUD home? An individual interested in purchasing a HUD home should contact a Rob Rosa at (860) 558-2122 or by email at firstname.lastname@example.org . We are certified with HUD to sell HUD homes. We have a valid NAID number and have the keys to allow you to visit any HUD home in CT. Can I get a loan to buy a HUD home? Yes any purchaser that can qualify for a mortgage loan can purchase a HUD home. A Rubicon Crossings Realtor can put you in touch with the right loan officer to
Leave out management, vacancy and maintenance in calculating cash flow – I see it all the time. Rent – PITI is used to calculate positive cash flow. If you do not have room for at least 10% property management, 10% vacancy and 10% maintenance then you could end up losing money over time. It is much more accurate to take 70% of Rent – PITI to calculate positive cash flow.
Here's a helpful "DO" when applying for a loan: Provide your EMD (earnest money deposit) from your own personal bank account or acceptable gift funds. This will present a difficult problem if not managed properly in the beginning. Please talk to your loan officer for additional clarification.
My focus is helping people increase their lifestyle. I love my huge family and work tiredlessly to help them and my clients everyday. I have ben working in real estate since 2000. I have been awarded numerous Top Agent awards and am currently ranked in the Top 2% of the Berkshire Hathaway global network, over 52,000 agents. I am also the Founder and Instructor of Rubicon Crossings School of Real Estate: offering state of CT approved pre-licensing class, get info at http://ctrealestateschool.info. My extensive experience is: top producing sales and marketing executive focused on quality service and relationship building. Have over 30 year’s experience helping people in busines, including with two Fortune 100 companies; UPS, UHG and Berkshire Hathaway HomeServices: project management, mortgage lending, residential, commercial and franchise sales, property management and real estate education leader. I live in East Hartford, my office address is 1160 Silas Deane Hwy, Wethersfield, CT 06109 and I have been involved in many events in Rocky Hill and Glastonbury. I look forward to helping you every way I can.