How to Get HUD or REO Listings From Banks - YouTube

Hello, Mark Ferguson with Invest Four More.

I am on my way to a new HUD assignment I received today.

If you remember a few weeks ago, I took you on a little video on a new REO assignment

I received.

HUD is a little different than an regular REO.

I actually prefer them a lot more.

I don’t have to worry about utilities in my name, I don’t have to worry about trash

outs, I don’t have to worry about evictions, cash or keys, any of that.

HUD, or actually the servicer for HUD, takes care of all of those issues for you before

I even see the house.

Usually, I get these during the week, but today’s actually a Sunday.

So it’s pretty rare, but once in a while I do get HUD assignments on a Sunday.

I get 24 hours from the time I receive the assignment to inspect the house, take pictures

of it, fill out a report and get that submitted to my asset manager.

So I can’t wait until Monday.

I’ve got to go out here on a Sunday afternoon to beautiful Hudson, Colorado, which is probably

50 minutes away from me in Greely.

Hudson has about 500 people, I’d say—not a very big town, and not very close to anything

either.

But with HUD, you take the good with the bad—that’s part of the deal.

So I’m just getting in to Hudson right now.

We’ll see if we can find this property, and then I will shoot another video showing

you what it looks like, my first look at this particular HUD assignment.

Here we are in front of my new HUD listing—beautiful house right next to the silos, commercial

area right there, railroad track just past the silos.

So it’s my first look at this particular HUD.

It actually looks gigantic—maybe a couple of additions put on, old stucco house.

We'll see what it looks like inside.

All right, I’ve got the house opened up.

I have keys for HUD homes since I'm a listing agent.

I put my lockbox on, I put some keys in there.

I’ll take pictures of everything.

I’ll show you.

This house isn’t horrible.

Obviously, it’s missing some carpet.

Nice ceiling panels, there’s an old door right there.

I don’t know if you can see it in the video, but in pictures you can see the floors are

really unlevel.

Interesting little walkway through another completely unusable room.

Let’s see what the rest of the house looks like.

Furnace, there’s the kitchen, that’s my trusty HUD bag with my lock boxes, keys, pens,

miscellaneous supplies.

That’s the electric box, not sure if you can see that very well, it looks a little

scary.

Actually, I don't know, looks like it’s all missing, actually.

Hot water heater, little bathroom, another little room I’m not sure what you would

use for, and I guess this is another bedroom back here with another door, access to the

crawlspace right there.

So not a very exciting house, okay shape, nothing great.

With HUD you see a lot of really, really bad houses, some decent houses, and once in a

while, a nice house.

But yeah, I’ll take pictures of everything, complete a BPO on it, complete an inspection

on it, send all my pictures to HUD.

And then, in a week or two, it will be listed and ready to sell.