203k basics: Renovation loans are here to stay in Walnut Creek CA
- 10/12/10 05:36 AM
Renovation loans are here to stay in Walnut Creek CA I'm having so much fun with this I can't believe it. We are seeing 1960's prices and investment possibilities. I took a look at a home the other day in Walnut Creek and found a deal. I was hired to do a feasibility analysis and did that. In doing so I found out the listing price of this home in a nice neighborhood and what it would cost to fix it up to the HUD MPS (Minimum Property Standards) These are primarily health and safety issues and will the home or 2-4 … (0 comments)
203k basics: Renovation loan products - Hercules CA
- 10/09/10 04:54 AM
Renovation loan products are in vogue today. In our seminars we typically will touch on all of the available products but you should know even though the FHA 203k loan must be owner occupied there are other programs out there that are conventional as well and some that will even allow investors to purchase and renovate. 1) Click on the logo to the left to get more on this loan program. Wherever you see this logo on a FannieMae Home you can get this financing only if you are an owner occupant going to live in the home as your Primary … (0 comments)
203k basics: 203k Consultant San Pablo CA
- 10/06/10 10:59 AM
203k Consultant San Pablo CA Not every home is a 203k prospect I remember one in San Pablo CA years ago that was extremely small, had no foundation, and the ceiling height was about seven feet high, it was a cute little bungalow but nothing was to code, any code. This home didn't have much to work with. The 203k loan program can be used to install a foundation on an existing home that doesn't have one, or build a home on an existing foundation that may be left over from a fire as an example. I have passed one in Vallejo for … (0 comments)
203k basics: 203k Loan - High Tension Wires
- 07/10/10 08:25 AM
Things are heating up in more ways than you might think. While it is 100 degrees in Charlotte, the humidity is down somewhat from usual but it was 139 degrees in the attic. Wow, yes, the 203k consultant should look in the attic and under the home if there is a crawl space, I must admit that I enjoy slab foundations and full basements more and more as I get older. Last January I was asked to do a 203k that had started out as a Streamlined k and then someone noted that there were structural issues and at the last … (4 comments)
203k basics: Realtors and the 203k Spartanburg SC
- 05/16/10 06:21 AM
I have many real estate professionals call asking me about how they might profit from the 203k loan programs. So.... We offer several avenues of training for real estate professionals and they are FREE for the asking. We can come out to your office and put on a seminar to educate you in the "How to make money with the 203k" from a real estate agent/Broker position which is about twenty minutes with a ten minute Q&A session afterwards. OR we could also do a full 203k presentation which takes about a full hour, or couple them both together and give … (0 comments)
203k basics: 203k Seminars
- 05/06/10 05:43 AM
Paramount Equity Mortgage, Paul Bozek is hosing a 203k Seminar at 6:45 pm on Tuesday May 11th, 2010. It is a ticketed event due to the limited space available so please get your tickets from Paul or one of our teammates at your earliest convenience. Big Valley Mortgage in Sacramento will be hosting some seminars in June.. can you believe it's coming up on June. If you would like to have a 203k seminar in your city please let us know. We have two distinctly different presentations... one is for the public where we put all the puzzle pieces in the … (0 comments)
203k basics: 203k Seminars
- 05/05/10 02:29 AM
Hey there, we are back in Roseville on the 11th at Paramount Equity Mortgage with Paul Bozek. Let Paul or I know if you want tickets. We need buyers for our properties... if you have a buyer and have been unable to find them a home... stop by and we'll put them with a property... just want to learn more about the 203k loan program, stop by... 6:45 this time... over by 8:30 pm. With loan limits on this program in Placer County up to $580k for a SFR... learn how YOU can use this program to get into a home … (0 comments)
203k basics: 203k Seminars for REaltors
- 04/20/10 12:48 PM
Had a great time with Mitchell Churnock today with Ryan Keller of Keller-Williams Realty's office in the bay area. It is fun to see how someone else provides the 203k info. Mitchell brings in the Section 184 program for enrolled American Indians which is just like the 203k with a few twists. If you are working in an area where any American Indians are looking for homes, and that could be anywhere, you should get up to date on the FHA Section 184 loan product. It is simple to ask your clients if they are American Indians much like you would … (2 comments)
203k basics: 203k - The sleeper
- 03/20/10 07:45 AM
I just was told by a RE agent in Solano County CA that they don't do FHA because properties are worth more here... and FHA is only for homes under $200k. Wow. IN fact here in Solano County the FHA loan limit for a 203k is actually $557,500 and includes the needed work on the home... isn't that interesting. What would happen if we searched the MLS and FSBOs looking for homes that haven't sold in over 120 days. They would likely be the ones that need TLC or lots of work. Show me the house and I'll show you how … (0 comments)
203k basics: 203k - The sleeper
- 01/28/10 01:14 PM
Hey guys and gals, I've been canvasing the CA market to find there are a lot of agents that are putting in their listings that they won't consider an FHA or VA offer. Upon further scrutiny it appears this is because typically they require the property to be repaired prior to COE. Instead they sit on hundreds of these homes in some cases many more. The seller who has instructed them that the seller will not put any money into the properties to sell them is wanting to get rid of the home is apparently not aware of the 203k or … (3 comments)
203k basics: Streamlined "k" aka Streamlined 203k vs high tension electrical tower
- 11/18/09 11:42 AM
The streamlined k is a great tool but if only do the streamlined k and not the full 203k you run the risk of loosing some loans from time to time. Using a plan review is also a great tool because the plan reviewer or consultant can find things that if the appraiser found them would trip the streamlined k to a full 203k. We just had one that was a streamlined k that became a full 203k. When I went to inspect it I found the home next to high tension tower. Agents beware. If you're selling a home next … (1 comments)
203k basics: 203k Basics Columbia SC
- 06/06/09 05:15 AM
We had that FHA 203k loan basics meeting in Columbia SC last week with David Sovde, Consultant. It was interesting. I don't typically like being an encylopedia as that is about all you can be when you have lots of the same pieces of the puzzle in the room with you but it was fun and hopefully everyone walked away with something. I prefer to have them each bring an investor,home buyer, or property with them and put the pieces together in the room. That is much more fulfilling for everyone. Let's Make a Deal on the spot. Yes, I said … (0 comments)
203k basics: 203k audio tapes from the past
- 04/14/09 12:32 PM
If anyone is interested in listening to some 203k tapes I put together in 1998 I'll post them. They are 203k Basics, 203k as a Team Sport, 203k Investor program, and one other I'll have to find to remember the title. If you like to hear rather than read these may be fun to listen to... FREE makes them even more fun, right? I need to hear from someone in order to put them up... … (1 comments)
Renovation loans are here to stay in Walnut Creek CA I'm having so much fun with this I can't believe it. We are seeing 1960's prices and investment possibilities. I took a look at a home the other day in Walnut Creek and found a deal. I was hired to do a feasibility analysis and did that. In doing so I found out the listing price of this home in a nice neighborhood and what it would cost to fix it up to the HUD MPS (Minimum Property Standards) These are primarily health and safety issues and will the home or 2-4 … (0 comments)
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