The Investor Insights

Here’s a great question that came in from the Investor Insights search logs. Someone in Palmerton, PA wants to know… Where can I buy REO multifamily buildings? Well, the first way is to contact the banks directly (learn how in Bulk REO Secrets). If you don’t want to go that route my next two favorite [...]

U.S. Housing and Urban Development (HUD) Secretary Shaun Donovan recently announced an unprecedented agreement with the nation’s top mortgage lenders to offer selected state and local governments, and nonprofit organizations a “first look” or right of first refusal to purchase foreclosed homes before making these properties available to private investors. The National First Look Program [...]

In July, FHA adopted new guidelines that lower the maximum loan to value (LTV) for multifamily market rate loans to 83.3%. Previously this was 85% for acquisition and refinancing on the 223 (f) program and 90% for new construction on the 221 (d)(4) program. Debt Service Coverage Ratios have been increased to 1.2 for market [...]

So, now HUD is proposing legislation that eliminates all seller financing unless it’s on the seller’s primary residence or s/he is a licensed mortgage originator. *sigh.* As you know, I love seller financing. I have used it extensively to buy and sell residential and commercial investment properties. So, announcements like this really get me steamed. [...]

Hidden away in the deep recesses of the federal government is a one-shot financing plan which will allow you to not only buy foreclosures but it will also to pay for repairs and upgrades. The FHA’s 203(k) program has been on the books for decades but over time it’s been rarely used. That’s changed recently, [...]