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  • Officer Next Door Program.

    Quick question. Has any officer participated in the "Officer Next Door Program"? This program is offered by HUD. If you don't know, you can basically get a house 50% off the purchase of a home in a "revitalized area" or ghetto.

    If you used this program did it work in your favor. Pro's and Con's of the program would be appreciated.

  • #2
    I bought an OND house back in 2001. My house went into escrow just before they canceled the program due to abuse. I lived there for four years, and sold the house for 5 times what I paid for it. I happened to buy at the low point of the market, and sold about six months before the market peaked. I could not have planned it better. When I bought the house, I thought I would be lucky to make $10,000 in the three years I was required to live there.

    I had many great experiences living there. The house was located in one of the worst parts of the city. My house was about 3 blocks north of my patrol district boundaries. I got a better feel for the community I worked in and learned a lot about what made the people who they were. In turn, they got to see a cop with his hair down. I wouldn't say that I made any life long friends, but I had a good time while I lived there. My neighbor could barbecue like nobody's business.

    Within a year of moving in, I had 3 foot pursuits from the city police run through my yard, and 2 from my agency. I had two of my own vehicle pursuits bail or crash in front of my house. My partner and I fought with one of my neighbors at the conclusion of a pursuit, but I never saw him again. Because my house was so close to my patrol district I routinely ran into people from my neighborhood while working. Some recognized me, some didn't. I never was targeted off duty for any retaliation. I had a few neighbors knock on my door to resolve family disputes, or seek advice.

    I would not recommend the program to anyone with a family. My girlfriend (now my wife) spent the night once, and swore never to do it again. When people in my department found out I bought the house, I was met with the common reaction that I was stupid, crazy or both. When I sold the home, they all wanted to know how to do it themselves. By the time I sold, the program was in effect again, but there were no houses available because of the booming economy. I think in these economic times, people have the potential to duplicate my results.

    Because of all the abuse before I bought I was subjected to a great deal of scrutiny. Officers were buying the homes as rentals, selling them early, or buying multiple houses. Some ended up losing their jobs. They mailed me quarterly letters, that I had to respond to. I was also spot checked by auditors twice to make sure I was actually living in the house. A small price to pay for a crazy profit. Without giving actual dollar figures, I bought the house for about the price of a very nice SUV. I sold the house for about the price of a high end Italian sports car.

    If you are single, I would say jump in with both feet. You will learn a lot, and have a great time. If you are married, make sure your wife understands exactly what you are getting into. If you have kids, I wouldn't even think about it.

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    • #3
      It is no longer called the Officer Next Door program, it is now the "Good Neighbor Next Door Program" It's open to first responders and teachers.

      Here is a link, you can search by state and region for available housing on the site. http://www.hud.gov/offices/hsg/sfh/r...n/gnndabot.cfm
      Originally Posted by VegasMetro
      maybe it’s me but I think a six pack and midget porn makes for good times?????

      Comment


      • #4
        Originally posted by mtxpro752 View Post
        It is no longer called the Officer Next Door program, it is now the "Good Neighbor Next Door Program" It's open to first responders and teachers.

        Here is a link, you can search by state and region for available housing on the site. http://www.hud.gov/offices/hsg/sfh/r...n/gnndabot.cfm
        Do you know if the listed prices are the GNND prices, or are they cut in half from what's listed?

        There are some inexpensive houses on there.
        summer - winter - work

        Comment


        • #5
          You pay what is listed, funny how some of the prices don't seem right. I think they are still giving 50% off prices from 2 years ago!!

          There are only 5 listings in all of LA county and I wouldn't touch one with a 10 ft pole.

          I know a lot of developers here in CA, have programs sort of close to teachers, cops, hose draggers and emts as well as public employees if it's your first time home. If you see a new condo complex going up it may be worth it to stop by and ask if they participate in any of those types of programs.
          Originally Posted by VegasMetro
          maybe it’s me but I think a six pack and midget porn makes for good times?????

          Comment


          • #6
            Originally posted by mtxpro752 View Post
            You pay what is listed, funny how some of the prices don't seem right. I think they are still giving 50% off prices from 2 years ago!!

            There are only 5 listings in all of LA county and I wouldn't touch one with a 10 ft pole.

            I know a lot of developers here in CA, have programs sort of close to teachers, cops, hose draggers and emts as well as public employees if it's your first time home. If you see a new condo complex going up it may be worth it to stop by and ask if they participate in any of those types of programs.
            I think you might be right. I was looking at regular listings in Mesa AZ, and many prices aren't a whole lot higher than they are with that program.
            summer - winter - work

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            • #7
              I pulled up the locator map and came up with a house I might be interested in, it has a price of 84,000 and an "as-is value" of 140,000.

              Does that mean I can buy this house for $42,000??
              Seriously, the only reason I wanted to be a cop was so I could post anywhere on this forum.

              Comment


              • #8
                I think you get it at 84k, dunno exactly. Didn't bother checking into it any further after I saw the whole 5 properties avail out here.
                Originally Posted by VegasMetro
                maybe it’s me but I think a six pack and midget porn makes for good times?????

                Comment


                • #9
                  A couple of guys I work with used the program. It is (was) based on zip code, so they found some nice places to live separated from the 'hood, by a small stream or some other barrier. One guy got a place on a river, that backs against those high wal;ls along an interstate. Old neighborhood, one way in and out. Pretty quiet....

                  Comment


                  • #10
                    Very interesting comments. I was thinking, that once I'm hired on a department that this would be a program of interest. But seeing as though I have a wife and a two kids, sounds like a big risks. Sounds like a great program. They should include older homes in nice areas and condos in up an coming areas. It's a shame that this is only relegated to just (for lack of better term) ghetto's. Anyway Thanks for your comments.

                    Comment


                    • #11
                      I'll stay in the suberbs thanks

                      Comment


                      • #12
                        Originally posted by JLee View Post
                        Do you know if the listed prices are the GNND prices, or are they cut in half from what's listed?
                        Typically the prices listed are the total sale price of the house. The buyer will be required to get a mortgage for 50% of that listed price, and HUD will hold a "silent" second mortgage for the rest.

                        Keep in mind some of the HUD GNND are actually in decent areas. Several of my friends got HUD homes in nice areas.

                        However, think carefully before you decide to buy a GNND home, as the rules of the program are strictly enforced. Those found to violate the program rules are often prosecuted for fraud.

                        You will need to have that home as your residence for at least three years. It is very rare that HUD will let someone leave early, and if you are allowed to leave early you will have to cover some or all of the value of the "silent" second mortgage that HUD holds.

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                        • #13
                          last time i checked they only had one house listed here in San Diego.

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                          • #14
                            I looked into it when my wife and I bought our house in September. The only houses eligible were in an area you couldnt pay me to live in. It was simply ridiculous for them to expect a police officer and his family to live in the are in which police are looked down upon.

                            Comment

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