San Jose is heating up, wow, lots of activity there.
I find it so interesting to see an area explode like San Jose is doing right now. It is interesting because they, as a group, finally get it. Once you understand the power of a 203k to move properties and stimulate the economy it is amazing to watch it take off like a rocket.
This week we have about 8 new projects going in that one area, fantastic. One only has a foundation and we the project will be to build a new house on that foundation.. perfect for a 203k project, the rest are pretty much renovations of existing homes and a fourplex.
Remember that the 203k is the absolute best way to renovate mixed use buildings too. Easiest way to sell and renovate or refi and renovate a mixed use buidling. Commerical loans are very difficult to get financed EXCEPT with an FHA 203k loan.
This is just one example of a warehouse that was transformed into a "Live Work" project via the FHA 203k loan guarantee program. There are lots of different configurations that fit the bill -
This can be converted to living unts above the commerical space quite nicely.