Posted by ray@lcorn on October 07, 2010 at 12:41:13:
Mike,
I have zero experience in getting a deal done with HUD. But not for lack of trying. I chased a number of them 1999-2001 but never got one closed for various reasons. Then we switched our focus, moved from multi-family into retail/office and I lost interest.
That’s not to say there are not deals to be done and money to be made. I know of quite a few investors who have and are getting deals done.
Terry May replied below that he is active with HUD. I’d pick his brain since he offered! (thanks Terry).
Looking at a 64 unit HUD apartment. Clean C grade, no defered Maint. no riff raff. Brings in 360K yr, selling for 2.5 M. I’ve no HUD experience and was wondering if you’d have any input? (Couldn’t find anything in your book for HUD.) Thank you in advance.