We have been doing FHA 203k loans in Oakland since 1994 but all of a sudden it is like day and night with all the new requests. I think someone has been doing some very effective marketing and the light has gone on.
It is amazing to see this loan program in full bloom and it is happening again. This program has always been a "sleeper" and very good for those who access it while others just sit there happy they don't know about it.. funny but true.
I have a friend who is an asset manager fully content to sit there and allow the offers to roll in and sell lots of homes for many years now the gravy train is at an end and the properties that are left get fewer and fewer offers.. BUT WAIT !! the 203k is the salvation of his business if he markets them as fixers.
Feasibility anslysis, one of our product offerings is an amazing tool as it lets the potential buyers see what they are getting into. An informed buyer makes the right offer the first time, one that will be accepted and is fair to all concerned and that what RE is all about.
We have renovation loans up to $3,000,000 now so don't tell me you can't use them in Piedmont, CA, you can.
downtown 10-14-2023
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