How To Buy HUD Foreclosures Cheap!

A HUD foreclosed home is a property owned by the US Department of Housing and Urban Development…In other words, the federal government. They foreclosed on a home owner and took back the property and these Government owned homes can be great deals for you to wholesale or flip but you need to understand how to do it. So on today’s video I’m going to break down everything you need to know about how to buy HUD foreclosures cheap!
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Jerry Norton went from digging holes for minimum wage in his mid 20's to becoming a millionaire by the age of 30. Today he's the nation's leading expert on flipping houses and has taught thousands of people how to live their dream lifestyle through real estate.
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[@simonmarthinsen1566]

I’ve bought two of these properties. First one was a duplex. $52,500 purchase. $75k rehab. Still own it and it’s worth $400k today. My 2nd one was a flip. $49k purchase. $16k reno. Sold for $118k.

[@jalabi99]

Simon did you buy the 1st HUD property as an Investor?

[@simonmarthinsen1566]

jalabi99 bought both as an investor. The house was a Homepath property with a 32k opening price. They were taking offers online. I bid $20.5k which met their reserve and stopped the auction. I knew this would work because I lost out on another homepath property by $500 because someone else’s used this strategy. Some online auction sites stop bidding when reserve prices are met.

[@FlippingMastery]

Nice!

[@tinigenie34]

@@simonmarthinsen1566 Wow thank you.I smell a new strategy coming on! Good stuff!

[@apollobala480]

Congrats! I'll try to follow your and Jerry's footsteps!

[@ElSalvador1919]

From my first deal, God first, I am going to start investing more in my education and I will look for THE BEST Mentor ….Jenius Norton !!!!👏👏👏

[@rogelioordonez4347]

I plan to start looking into these HUD properties investment, Thank You Flipping Genio!!!!

[@ruraljuror1734]

Perfect timing! I’ve been wondering about HUD Foreclosures lately... appreciate ya, Jerry!

[@harrisal174]

I love how you explain everything! Thank you for the valuable info.

[@Temurmemer]

That llc trick is brilliant thank you

[@SteveRam]

Great breakdown! Checking out the website now! Thanks for sharing!

[@jamesbeets393]

I'm James beets trying to buy hudhome but on fixed income. And most mortgage co. Say I don't make enough. How do I get a home? Please help.

[@DT-ep9eh]

I am

[@FosterFromTheAshes]

We'd love to learn more about this strategy. Getting Flipster now!

[@DavidEvans_dle]

Bought a HUD house, it needed plumbing repairs and a paint job plus clean up.

[@Storesdavidal]

Thanks Friends For This Informative Video.

[@myrasolaris2180]

Hello, Jerry it's very interesting but it soundss like you are just inviting investors not the low income public

[@soniagonzalez1462]

I am new to investing in real estate and HUD sounds like a good choice to add to all options

[@brucejsanchez]

I’ve seen an investor get property before home owner time is up and not move in or touch the property for over a year with no consequences. I tried contacting bank about it that sold it and they had nothing for it. Like nobody cares. There is no consequences for an investor to buy as an intended home owner. I think the only issue you will run into is if you try to sell before 1 year is up but I’m. It sure. Any thoughts. This particular property was a 4 plex that was unlivable an remained boarded up for over a year

[@DavidEvans_dle]

Wish I knew this, when I bought my first HUD house.

[@ItstokYT]

Hey Jerry question man! I've been finding lots of good leads on MLS deals but i'm stuck at this one position. When working with the agents they require a deposit of course, but what if my offer gets accepted and I don't have a deposit ready? Please help.

[@Temurmemer]

I have gotten a personal loan before although this is a last option make sure to pay it off immediately haha. Try friends and family maybe?

[@ItstokYT]

@@Temurmemer I've thought about a personal loan as well but you're right I don't even wanna deal with the hassle haha. Family was exactly what I was thinking, that's what I'm gonna do. Thanks!

[@kingdomheiress177]

There are payday loans (Advance America is a good one) that you could borrow the money and pay back as soon as you close. I was wondering the same thing because I don’t have friends or family I could go to like that. After the first deal you won’t have to worry about having the EMD for future deals 🥳

[@megaman2127]

Good Morning everybody! Dear Jerry, Could you make a video on how you got to be successful business wise? I think others would like to see your story! Many thanks!

[@FlippingMastery]

I explain here kzbin.info/www/bejne/jWndZ6Vtnq6Xq7c

[@dellk8198]

So I sell the llc so it's a just for that sake correct to have 1 closing that's genius

[@brussjhon645]

Great video it's first time on your channel but am watching after this thanks

[@brettaugenstein637]

Yes sir I attempted this last year in FL but none of my offers were accepted, do you have any suggestions to increase acceptance rate? Btw thanks for providing such great value I’m a part of your member site

[@FlippingMastery]

Keep resubmitting your offer every week.

[@brettaugenstein637]

Sorry another question When do you disclose to your cash buyer the flow of paperwork

[@FlippingMastery]

Brett Augenstein after they verbally commit to the deal

[@edellshuman630]

What do you do about the property case # that you don't have

[@thegabellashow4174]

Hi Jerry what are your thoughts on some of the other hud forecloser websites? they charge a membership fee but they seem to have more homes available to choose from. thank you

[@compscript7973]

I am watching this because I am buying a HUD home. Both the Realtor and loan officer say they have never ever dealt with such assholes. The seller agreed to my bid and then changed their mind and have been complicating everything at every turn.

[@apollobala480]

Thanks much Jerry! Another golden nugget of information that I can surely use.

[@stattonparis-zw9lo]

I’m adding this thank you Jerry

[@motorcitymuscle3878]

I'm from Detroit! How do I go about mentorship? I can only watch so many KZbin videos but that one on one mentorship is the best way to learn for me. Thanks for your channel bro 💯

[@Temurmemer]

Motor City Muscle Get on Bigger Pockets and Facebook and just start networking with real estate investors in your area and take them out to coffee or lunch if any are willing they might be willing to mentor you as well.

[@FlippingMastery]

My mentor and partner program: Fasttrackwithjerry.com

[@tinigenie34]

Thanks Jerry, super valuable as usual.

[@Deezmok]

Thanks Jerry Just bought my first one

[@fullofgraceandtruth85]

Would you advise me to get the flipster software, secure my first deal with it and then start my LLC with the profit and build my business from there and then enroll into finding deals for you as I get better for 10,000

[@FlippingMastery]

Yes on flipster but don’t wait to set up llc. It’s easy. Watch this kzbin.info/www/bejne/jIubn5WGqLtpidk

[@jfenetwork]

I always learn something new. Do you do 1 on 1

[@FlippingMastery]

Fasttrackwithjerry.com

[@mikebrown2050]

Hey there Jerry. I wanted to learn more about the HUD strategy.

[@rawrookiedan]

Nice video I followed 💪👍🙏

[@carlwoodington8562]

Can you flip USDA homes as well?

[@briannajackson7724]

great info thanks im looking to get started

[@JOSERD76]

Great deals for me and daughter .

[@marcthaincredible]

ADDING THIS TO THE ARSENAL JERRY, THANK YOU AGAIN SIR!!!💯

[@Murkito829]

Jerry i wanna get flipster but don’t have the money rn does flipster have a free trial? to see if it works for me?

[@FlippingMastery]

No trials offered but you can go month to month

[@Curious_gen]

As a first-timer looking to score a hud home, what is the first step I'd need to do? Creat an account? Find a broker as the site suggests? Also how would this work if you want to use a broker? Find a home that I want and hit up the broker tk make an offer? I'd appreciate if someone can guide me on the steps. I'd love to be able to bid and make offers myself

[@dellk8198]

Great info

[@chrisrojas2053]

Thank you sir

[@simplyfab4life832]

New to wholesaling and would like to utilize HUD homes as a resource. Any other additional info ? :)

[@MSAUDREYL]

absolutely no website has helped me,,, i'll see what this one does,,, Hmmmmm,,,,,

[@Hockeymyk]

but what about using FHA you have to pay mortgage insurance????

[@TimeSquareTitts]

Hey as an Australian foreignator l dont have an ssn but have a tax id num... How can i dooo it?

[@MSAUDREYL]

I was right,,, this information is the same as others,,, no homes were listed in washington state,, at all...

[@Dancesmoves]

I won an offer on the hud page, when everything was ready for closing it turns out that the house had a mortgage, now I have to wait for the city to pay that mortgage to close, how long does this process take?

[@deucesdeuces2523]

I have a llc to

[@rhodiesfoodtruckr.i7398]

how much funds do you have to have to bid on a house Sir thank you

[@racquelllyons4404]

Hi Jerry, would I need a property case number to access listings?

[@dexterramey8787]

What happens if you win the bid and can't find a buyer?

[@unknownalien5734]

I would like your help

[@FlippingMastery]

My10kcheck.com

[@ziggyc4474]

Can you actually buy a hud home for less than 1k ?

[@Cvs-om3hd]

Can I buy a hud on my own with a realtor?? I was told I needed one

[@ziggyc4474]

Does Ca have HUD AUCTIONS?

[@fullofgraceandtruth85]

That's a good strategy!! But I'm not on that level yet!!

[@robertorivera9617]

Hey Jerry, I'm having a little trouble with finding a wholesale friendly title company. I live in Oakland County Michigan...Know Anybody?

[@jalabi99]

@entrecannaprenuer 814 you could try Essential Title in Walker. essentialtitlellc.com/location.html

[@samanyt2967]

I wish there was a direct link to purchasing the software on your site. The funnels keep trying to lead me everywhere else. Is there a direct purchase link?

[@FlippingMastery]

What are you trying to purchase?

[@pastorbritbolerjack2987]

What if you buy one as an owner occupant but you end up selling within the first year?

[@FlippingMastery]

depends

[@KCinspireME]

Will they accept offers, or is the list price on HUD homes firm?

[@FlippingMastery]

you can make an offer

[@ninankarimpil1194]

Good One. Thnaks.

[@francise2258]

Would you advice a newbie to start wholesaling with HUD properties bcos if it complexity (The No-Assignment clause).

[@FlippingMastery]

No just learn how

[@tahler9364]

want to rent

[@kaywagner9784]

Is it easier to get one cheaper if you have cash?

[@FlippingMastery]

yes, cash always gets you the best deal

[@waterbird91]

All I see here is IT'S COMPLICATED because of all the rules.

[@Horsesnot]

Can you wholesell these homes ?

[@FlippingMastery]

Yes I explain on the vid