About Vito Simone of Tenant Buyer Homes Expertise Vito Simone of Tenant Buyer Homes is a licensed broker in Maryland with 12 years experience in HUD & VA foreclosure sales and training. Familiar with all aspects of HUD procedures, contract forms, web site bidding, FHA financing and rehab management. Questions welcomed about property selection, pricing, HUD/VA procedures, financial qualifying, FHA 203k loans and FHA loan quidelines.
Experience Since 1988 I have been a licensed real estate agent and became a Broker/Founder of Tenant Buyer Homes in 1992. I am an active member of the Greater Baltimore Board of Realtors, the Maryland Association and the National Association of Realtors. I am also an Accredited Buyer Representative (ABR).
Currently, I am a member of numerous community development groupss including:
The Mayor's Council on City Living; the Flipping Task Force; the Baltimore Economy and Efficiency Foundation; Member of the Public Policy committee for Maryland Association of Realtors; Chairperson of the Community Service committee for Greater Baltimore Board of Realtors; a Freddie Mac Credit Smart counselor; Member of the Baltimore City Council Small Business Ad HOC Committee.
I have more than 1,000 settled transactions.
Expert: Vito Simone of Tenant Buyer Homes - 8/16/2003
Question Hi Vito
About two years ago I bought an office building at a good price and have it fully rented. I have a good deal of equity and thought about looking into HUD & VA foreclosure sales and put some of the equity to work.
Now to my question, or more of a statement. I have zero knowledge of where to begin so I am looking for any advice you may want to share. Also, how about commercial banks and lending institutions are there oppurtunities in this area as well.
I should mention I live in northern Ky just across the river from CinCinnati Ohio in case location means anything.
David Elliott
Answer I am not familiar with your market area, but in general you will need to look many places for good opportunities including Hud, VA, banks and even the multiple listings.
A good Buyer's Agent can help you find bargains. Check your credit and level of financing you can get. Make sure you know your costs so you can include them in your property evaluations.
Try www.USHUD.com for a Free list of foreclosures from Hud, VA, Fannie Mae, Freddie Mac and even some banks - all in one place. Do not pay for any of the foreclosure lists offfered for a fee - you don't need them.
Find a Realtor that wants to work with you, that can add good information to your effort and stick with them - let them make some money and you will too.
Hope that helps,
Vito Simone, Broker
Simone Real Estate
www.TenantBuyerHomes.com
