Everyone, I'd like to introduce you to the newest FHA 203k consultant in Modesto. Lando Matthews recently received his certification from FHA and is officially a 203k consultant.
He just finished his first full 203k on his own and you can expect very good things from him in the future. He and I are available to provide your loan officers and local Realtor associations with information on the 203k program, That is correct, we will come to your office and get you off on the right track.
I here there is precious little inventory in this area and what is there is damaged or in need of some amount of TLC so they are all perfect for the 203k.
It baffles me when I do speak at an association and the people right in front of my talk discuss a problem property that needs work and how they don't' want to show it as it is soooooo bad. That is exactly the one you have to sell and you need the sale, so why not market it like this...
Find a home similar to it close by and create a little portfolio on the neighborhood. When your client indicates they would like to live in that neighborhood show them other fixed up homes and ask "can you see yourself in a home like this?" Of course, they will answer, you have them where you want them. Now, you merely say, "what if you could pick all new paint, kitchen cabinets, counter-tops, floor coverings, update the bathroom, and put a brand new roof on one of these, would that be great or what?"
You are missing the boat and likely missing some sales if you can't see the potential. You have your assignment now, go get 'em.