monterey: Want to sell more properties or fewer properties? Which is better? - 03/08/14 06:54 AM
I get such a kick out of agents who just don't get it and then sit on a listing for a year or two.
A major lender had a property in Oakland that had some major problems. No one knew what it would take to fix all the issues. In over eighteen months no offers came in, not even all cash offers with a low-ball price. Nothing.
We were called out to do a feasibility analysis report for them. They took our report, placed it in the house and sold the home in three days.
Then you get, how do I say … (2 comments)

monterey: Santa Cruz mountains is a haven for renovation loans like the 203k - 03/05/14 11:06 PM
Santa Cruz mountains is a haven for renovation loans like the 203k
Notice that I say "renovation loans like the 203k". That is intentional as the FHA 203k isn't always the best choice for the buyer. Many times the alternatives have better terms or better rates as they are intended for people who have better credit.
Even if all other things are equal there is no private mortgage insurance (PMI) which saves 1.75% on the initial down payment and many hundreds each month. Yes, I'm afraid you have to have very good credit for the alternative loans but the cost is well worth … (0 comments)

monterey: This home gets stares... - 08/31/13 03:10 PM
oops, I mean , this FHA 203k renovated home gets stairs
this home was such fun to see get completed. 
My 8-year old grandson came into my office when I was working on the blueprints and asked me what the round or curved pieces on the Plans represented. I told him and off he ran into the other room.
He came back about a half hour later and had reproduced the first floor plans with his paper and crayons. 
I asked him what the curved lines were on his drawing and of course he said it was a "curved staircase".
I … (5 comments)

monterey: My old Profile - 08/22/13 08:27 PM
Old Profile Contents
About me:
Mike was an FHA Real estate appraiser from 1992-2004 retired, author, home inspector for over 25 years, Mike Young Seminars instructing for CE credits for appraisers and home inspectors since 1992, 203k consultant trainer since 1995, software provider to 203k consultants since 1995 with our latest release coming very shortly. Most popular 203k Training and Software since 1995 for consultants nationally. 

Certifications:
Real estate professionals learn how to limit your liability on most every sale you make by having your client make those reprairs before they have a chance to sue. The loan closes as … (0 comments)

monterey: FHA 203k Investor program - 05/18/13 10:57 PM
HUD FHA 203k Investor program This blog post will tell you about investor programs that include renovation money.
What are the basic investor programs  This is a program that lets investors "flip" properties, the same thing that FHA was condemning just a short time ago... like yesterday. Wow, I've received lots of calls and emails asking me what I thought of it.
it hasn't happened yet when it does be ready for more work we already have an investor program for those investors who are savvy and know how to use OPM (Other Peoples Money).  I thought that more people should … (7 comments)

monterey: I’m a contractor why should I learn about the 203k loan program? Watsoville to Monterey - 03/01/12 01:44 AM
        If you have all the work you need already then maybe you don’t need to know about the FHA 203k loan program but there are allot of you out there that have been buying my eBook “Contractors and the 203k” indicating that many of you are becoming aware of this program. Why is that? Simply put “more business” than you can handle. We alwasys "give this book away" when a contractor is new to our team and have found it is a big plus for all parties.
When I take on a new contractor into our “203k … (2 comments)

monterey: Lenders new to the FHA 203k loan program in Santa Cruz - 01/30/11 05:09 AM
Lenders from anywhere actually can benefit form the FHA 203k loan program by being prepared for the volume if they do some simple things.
1) Build your team wisely. Don't wait  until you have some orders before you seek your "203k consultant". Interview them and see what they do for you to make these happen faster. If all they do is provide a bid spec and a draw request, I would keep looking. We have trained a good number of consultants across the nation since 1995 and we always teach them to "provide more than you expect". 
2) Be prepared in … (1 comments)

monterey: 203K for Contractors Monterey to Orlando - 02/25/10 11:18 PM
203K for Contractors Monterey to Orlando Well we had a great turnout last night at the NARI meeting. Girl Scouts were there selling cookies... did you know you can order cookies at the regular price for our soldiers overseas and they will be shipped FREE? The Boy Scouts were also represented by an Eagle Scout and Scout Master who did the opening ceremony. Good job. 
Lots of great questions from the audience. One that didn't get asked until after the event that was hosted by Wells Fargo Home Mortgage was that Wells Fargo can wire the contractor's check to save additional … (1 comments)

 
Mike Young, FHA 203k Consultant 916-758-1809 (203kOnLine.com, covering the USA)

Mike Young

FHA 203k Consultant 916-758-1809

Stallings, NC

More about me…

203kOnLine.com, covering the USA

Address: Wherever you need us to be, Fairfield, CA office, Las Vegas, NV, 89122

Office: 916.758.1809

Mobile: 916.758.1809



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