WS1522: Understanding HUD Loans | Tom Burns

What is a Housing and Urban Development or HUD loan? How do you use them to move your multifamily deal forward? What are the pros and cons of it? Should you consider getting one? All these questions will be answered by our guest today, entrepreneur, retired orthopedic surgeon, and author, Tom Burns of Presario Venture.In the last episode of our three-part series with Tom, he discusses what a HUD loan is, how long it takes to have one, how it can be assumable, as well as the considerations you need to have before getting it the first time. He also discusses how he is finding new investors right now by networking with a lot of people, the metrics he tracks personally and professionally, the how he gives back. Tune in now and learn about HUD loans today!Key Points From This Episode: Tom defines what a HUD loan is.What are the benefits of getting a HUD loan specifically for multifamily?How long does it get to have your HUD loan approved?What to expect when getting a HUD loan?Tom says that most of class-A properties in the US were financed using a HUD loan.Tom elaborates how you can go from conventional to HUD loan.Tom shares that because of the current speed of the market, they started to utilize more insurance companies and agency debt.Is HUD loan something you should be pushing from the start?What would have Tom done differently knowing what he knows now in the real estate space?Tom’s best source for meeting new investors right now.Tom talks about the challenge he is facing in his business.What are the most important metrics that Tom tracks?What’s the number one thing that contributed to Tom’s success?How does Tom like to give back?Tweetables:“These are agency backed loans, they are very long-term and they are fixed. So on the good side, if you develop a multifamily property and get a HUD loan, it's 40 years ofAfter interviewing thousands of entrepreneurs, one truth is clear: business success means little if it costs your marriage, family, or faith.I'm now hosting the Courageous Men podcast for men who want to lead well at home and at work. I'm looking for five men to walk closely with who want to lead well at home and work.  Email me at [email protected] and tell me why you should be one of the five. whitneysewell.com  VISIT OUR WEBSITEhttps://lifebridgecapital.com/Here are ways you can work with us here at Life Bridge Capital:⚡️START INVESTING TODAY: If you think that real estate syndication may be right for you, contact us today to learn more about our current investment opportunities: https://lifebridgecapital.com/investwithlbc⚡️Watch on YouTube: https://www.youtube.com/@TheRealEstateSyndicationShow📝 JOIN THE DISCUSSIONhttps://www.facebook.com/groups/realestatesyndication➡️ FOLLOW UShttps://twitter.com/whitney_sewell https://www.instagram.com/whitneysewell/ https://www.linkedin.com/in/whitney-sewell/ ⭐ Be Our Guest!We are continuously working hard to help our listeners with their journey to real estate syndication. If you think you can add value in any way to our listeners who are in commercial real estate, then we’d love to have you over. Apply here: https://lifebridgecapital.com/join-our-podcast/