203k consultant los angeles: What is in it for me, the Realtor?
- 11/17/20 12:25 PM
What is in it for me, the Realtor? I find it interesting and a bit dismaying when I am asked to join a loan officer for a 203k talk. What gets me is they typically start off with the first ten to twenty minute of how many they have done and how important they are to the process. I may be missing something but I think it is more important to talk about what is in it for me, the Realtor. That is really what they want to know, right? I created a powerpoint presentation a few years ago and you can see it … (0 comments)
203k consultant los angeles: Are all 203k loans in old worn out communities?
- 11/16/20 03:06 PM
Are all 203k loans in old worn out communities? No, actually, this is one of my favorite 203k projects and as you can see it isn't worn hour or located in a rough neighborhood. 203k project are in every community and, as in this example the home was appraised for about $1.2 million. But you say, the loan limits in this area are only about half of that. Well, you would be correct. That means instead of getting this home and paying all cash then adding the $150,000 in needed repairs... it had been stripped of lots of amenities by the seller prior to … (0 comments)
203k consultant los angeles: Realtors - Would you like to sell every house you show?
- 04/09/18 10:19 AM
Realtors - Would you like to sell every house you show? Why not, if you learn how to use the FHA 203k the way it should be used by Realtors you should be able to improve your % of conversions dramatically. Currently you might take a client out to see a few homes... have them make a list of the items they liked and what they didn't like about each one... or only one. That list of things they don't like becomes the basis of your 203k loan or HomeStyle® Renovation Mortgage. This is your "Scope of work" all those items that is holding them … (0 comments)
203k consultant los angeles: A common FHA 203k mistake
- 08/17/17 07:34 PM
A common FHA 203k mistake I can't tell you how many times I see this mistake in judgment happen. 1st Scenario - Borrower wants to make his job as low as possible, to keep the loan amount down. They tell us scope #1 with a very small scope in comparison to what they really want to do. The are putting 3.5% down. Now they keep this a secret but they are planning to do a much greater project scope with their own money after it closes escrow. The contractor starts working on the project and calls for his first draw inspection. Nice, and the demo is … (0 comments)
203k consultant los angeles: Living "Rent Free" in America
- 02/22/17 09:06 AM
Living "Rent Free" in AmericaAmerican's bred and born in America are less apt to see the potential for the FHA 203k to build wealth, but foreign born Americans see it right now and access this powerful strategy to get established and make money in America. In the mid to late 1990's it was the Hispanic immigrants that were taking advantage of the FHA 203k program by the hundreds if not thousands. They would purchase a four unit building and rent out the other units to family members and know they were going to get their rent every month, then we saw many … (2 comments)
203k consultant los angeles: Why is it good to actually place an order vs a phone call?
- 08/16/16 04:42 AM
Why is it good to actually place an order vs a phone call? Interesting phenomenon exists, lots of people like to call the order in to the boss. Lets look at what happens. 1) The boss isn't always available, staff is likely available. 2) The boss has to remove himself from the work he is doing and become an order taker. While this may make you feel better, lets face it, could this be the best use of the boss's time? Likely not. 3) The staff who would normally take their order and create the paperwork are sitting on their hands waiting for the order that … (0 comments)
1) first scenario is that you as a Realtor may have sold a home to somebody that needed work. It wasn't quite the house they wanted but they felt they could get by with it and fix it over period of time. You and I both know that won't likely happen. This family likely has a life and life goes on. In the hustle and bustle of everyday life you have to decide what will … (25 comments)
203k consultant los angeles: No money down real estate - Concord
- 08/19/12 05:06 AM
This is a big one. If you are involved with the FHA 203k at any level we can generate your own business without a lot of effort. Just consistency - it wins out every time. Be there when they need the information. I can’t count how many times I have asked groups at Realtor Associations how many people come into their offices each day just to find out after they have wasted about twenty minutes that the prospective home buyer doesn’t have any down payment. Maybe the prospective buyer heard some TV or Radio show that says you can … (0 comments)
203k consultant los angeles: 203k Consultant Los Angeles
- 12/11/10 04:06 AM
We have been providing 203k consultations since 1994 throughout Northern CA and in 1995 trained a large group of consultants in the Los Angeles CA area. There were 33 in that class. At the end of the class I got everyone's attention with "only 10% of you will actually take this knowledge and move forward with it and actually become a 203k consultant". Three people came up to me at that meeting and said "I'm part of the 10%". They all became consultants and to this day I have them among a group I call my close friends. I'm very proud … (0 comments)
203k consultant los angeles: 203k wholesale lenders Nationally
- 06/13/09 10:41 AM
203k wholesale lender is about ready to take on new customers. they had to cut it off for a short time as they ramp up due to getting more business faster than they expected. We all expect to be successful but with Tom entering this new venture he was very excited to do so much more than they anticipated so fast. Tom has lots of experience running a wholesale operation and will do well. He asked that I wait another week prior to telling my customers and consultants about him so I'm waiting. it isn't easy, but I'm waiting. This is … (1 comments)
What is in it for me, the Realtor? 
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