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san pablo: What does your client get for that “203k consultation fee?" - Hercules, CA - 02/19/12 08:12 AM
 How is a Home Inspection different from a “203k compliance inspection”?
A home inspection is a wonderful tool that every home buyer should use when purchasing a home. It puts the client at ease in many cases. Most people don’t buy a house every day and many only buy one their entire life. I had an Aunt and Uncle that got married on the ship one the way to America around the turn of the century, settled in Richmond CA and never moved from that spot. There is a lot to be said about that but that is another story.
 Let’s … (0 comments)

san pablo: What is the biggest problem with a Streamlined 203k? - 11/18/11 06:22 PM
The biggest problem is getting a contractor out to bid the job in a timely manner. 
In 2005 the FHA came out with the Streamlined k loan program. Light work, but included roofing, updating of bathrooms and kitchen, flooring, paint, etc, just no structural issues. It took off like a lightning bolt. Now, six years later there is allot of talk about lowering the construction amount to $10,000 (nothing formal as yet). This is being considered as too many of the Streamlined k loans are going south.
It sounds easy, just get a couple contractor bids and close the loan... lol. … (2 comments)

san pablo: Buy a fixer and KNOW the cost to fix it up in Richmond CA - 11/29/10 12:47 PM
Are you an REO listing agent? Would you love to know what the repairs would be on one of your fixers? Would that help you get that property sold? Of course it would.
We are offering you the chance to do just that if you have up to ten REO properties that need work we will send our crew into those homes for you and give you a "feasibility analysis" absolutely FREE. That is correct, not cost to you, however we do ask that the lender's name, contractor's name and our name be left on the paperwork so we have the … (0 comments)

san pablo: Buy a SMALL home in Richmond CA and make a room addition - 11/29/10 12:31 PM
... or anywhere else for that matter. 
Small homes are coming back into Vogue but some are so small that you can't get a loan on them. I was listening to the commentator on the radio on the way into the office this am and they confirmed it. 
What do you do when you can't get a loan on a home because it is too small?
Easy, it is a 203k or Home Style Renovation project. If you add on to a home it is a 203k. Therefore if you have a listing that is too small and can add on … (3 comments)

san pablo: Appraising an FHA 203k properties in Stockton or anywhere else for that matter - 11/27/10 01:43 PM
I appraised these 203k loan projects from 1992 - 2004 and since I was already a home inspector and a 203k consultant it was easy for me to understand the process. HUD actually called me one time to go to Alabama and provide instruction to the AI group there in Birmingham I think it was. There are a good many appraisers out there that certainly know what they are doing but I get asked to speak at AI groups now and then and it is amazing some of the questions we get from the floor that tells us there are quite … (0 comments)

san pablo: 203k seminars Concord and Hilltop Richmond - 10/27/10 05:59 PM
Last night in Concord, CA we had a small group but lots of questions, I think we opened some eyes to the 203k, one contractor rep came that turned out is representing a contractor that used to do quite a few 203k projects for us throughout the 1990's and that was fun. Ray Luna will be stopping by my office on his way back from Antioch this afternoon. Ray was a top notch contractor and does excellent work in the entire bay area and up to Sacramento. It is fun seeing people you knew years ago are still doing well in … (0 comments)

san pablo: Who knows about the 203k loan in Berkeley CA? - 10/14/10 12:14 PM
or anywhere else for that matter? More FHA 203k war stories lets start in Berkeley CA. A client purchased a five unit apartment and wanted to turn it into a four unit building. Sounded like a reasonable plan. The problem with the city of Berkeley is that you cannot remove a unit from the rent rolls without putting a replacement unit somewhere in the city limits. There are just too few rental properties in that city to go around so the city created this rule.
Now the five unit building had one of the units that was about 12 x 12' … (0 comments)

san pablo: 203k is heating up - 03/25/10 08:46 AM
I'm hearing chatter all over the country about how everyone is picking up business. That is great. All you people who are adding "Perfect for the 203k" is really working. thank you for your cooperation and participation. If you aren't already doing so please start. if your listing is a fixer put it in your listing that this is "Perfect for a 203k". What this does it tells everyone that this is a fixer but it says a lot more. It also says this is low down payment, owner occupied (great for condos by the way where you want owner occupied … (0 comments)

san pablo: 203k Teamwork Hercules - 03/18/09 07:32 AM
now and then you hear about a 203k loan that went wrong. I'm not going to sugar coat anything here but most of those could have gone right had they been working with a "TEAM" of experts who know what they are doing. A team is like a well tuned engine.
You don't have to be an expert if you work with experts. If you haven't done a 203k before then look for a team that in place who has closed some. If you are a lender looking to do your first 203k call a consultant and use a team they … (0 comments)

 
Mike6 Rainmaker_large

Mike Young, 203k Consultant 707-812-7668

Roseville, CA

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203kOnLine.com

Address: We cover northern CA from our, Fairfield, CA office, Fairfield, CA, 94534

Office Phone: (707) 812-7668 x 203

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