oakland: Got my new roof, all must be okay, right?
- 07/09/14 04:05 PM
Sometimes it is confusing to me that a contractor calls himself a contractor then installs the roofing material so water goes under the roofing materials on the way to the outside edge. Oh, and want a payment for the roof... NOT
They peeled back the bottom two layers at the first half course of shingles so it fit the gutter better, maybe. LOL
Then again maybe they did it to disguise the fact there were already two or three layers of roofing when they added this last layer.
This is a good reason to have a draw inspector and not … (5 comments)
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oakland: Why should I choose an FHA 203k loan?
- 07/07/14 11:50 PM
Why should I choose an FHA 203k loan?
Lots of good reasons to choose from:
your credit may not be stellar Not a problem FHA has the easiest loans for a borrower to qualify Even not to distant bankruptcy can be overcome your new home needs allot of work and you can't otherwise get a lender to make a loan Most lenders won't make a loan on a home that has health and safety issues you would like to be sure your home gets repairs it needs as your spouse hasn't been good at fixing things as they might like to … (2 comments)
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oakland: How do I find an FHA 203k consultant?
- 06/21/14 02:37 AM
That is a good question. You can go to the HUD website and find one or you can go to Yadzooks website and find one, or you can contact us and we'll line you up with one. The problem is going to be the same in both cases. The question you should be asking is "how do I find a good FHA 203k consultant?"
They are not all the same just like all Realtor's are not the same. I see some that go way overboard to provide a quality service for their clients and others that do the bare minimum and they … (0 comments)
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oakland: Who sees the "Feasibility Analysis" report?
- 05/17/14 01:14 AM
To understand who sees it one must first understand what it is...
Feasibility Analysis - This is a "quick look" at the deficiencies in a 1-4 unit building or in a building that will become a 1-4 unit building. I never take more than 30 minutes to look at a single family unit as there just isn't enough money in a feasibility report to warrant more time. The idea is to find the deficiencies and explain enough about the issues but not so much as it become a "scope of work" report.
Who sees the "Feasibility Analysis" report?
Seller can hire us … (0 comments)
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oakland: Some interesting questions this week about what we can do with a 203k
- 03/01/14 12:28 AM
This last week was riddled with questions of "can I do this with an FHA 203k?"
1) I have a house on a lot zoned for a triplex and large enough for a triplex. Can I build two more units on this lot using the 203k? Yes, you can.
2) I have a single family home on a lot zoned for a duplex. Can I add a second unit on top of the first or existing unit? Yes, it is possible. The foundation may not be able to support the weight so, if not, it may be better to lift the … (2 comments)
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oakland: Non-Profits and renovation loans
- 12/28/13 01:00 AM
In the mid 1990's when investors were allowed into the FHA 203k for purchasing and renovating properties Non-Profit Organizations were also. Then investors were removed from the program due to the fraud a number of them perpetrated. Non-Profit Organizations weren't and are still allowed to purchase and renovate properties.
I had a large number of clients that were Non-Profit Organizations as we actually went to the various neighborhoods that needed our services most and had many a meeting with small churches that served the "under served" areas in our communities and had meetings with the elders of those churches and were … (2 comments)
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oakland: Seller won't give us an extension for our FHA 203k, what do we do?
- 11/20/13 12:09 AM
Sometimes sellers can be a real pain. They say they want to sell the home, you get into contract and everyone agrees on the price... and then, and then, and then along comes John
Just kidding. I had a consultant contact me first thing this morning with this problem. Buyer wants to add a second story to a home they are purchasing and due to the additional layer of plan review right now in this economy with everyone being understaffed it will take a little more time. The seller isn't willing to extend their ten day inspection contingency to fifteen days.
… (0 comments)
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oakland: Don't be alarmed!
- 09/08/13 02:03 PM
Don't be alarmed! NOT!, every day we have people laid off and leaving the work force we have more and more getting desperate to survive. Once they get to that point where they very little hope, the need for feeding their family and themselves becomes stronger. These days it is just not very smart not to have your home alarm system installed.
Just got back from the CREIA conference in Sacramento for home inspectors where I had a booth next to ADT alarm system and got to know Mike Petrillo. We had time to get to know each other and I … (2 comments)
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oakland: FHA 203 renovation loans for non profit organizations in Berkeley
- 06/20/13 11:08 AM
FHA 203 renovation loans for non profit organizations in Berkeley The non profits now have a lender who will work with them... look at some of these benefits
A non profit can purchase multiple properties up to ten at a time. Wow, Can you imagine selling ten homes to a willing buyer at one time? Is that the end of it, of course not. How do you sell more homes to them? Simply this... if they sell a home the program allows them to replace it with a new one so if they churn properties they can continue to buy more.
… (0 comments)
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oakland: 203k loans in Alameda County
- 06/20/13 09:23 AM
203k loans in Alameda County Alameda Albany Berkeley Dublin Emeryville Fremont Hayward Livermore Newark Oakland Piedmont Pleasanton San Leandro Union City These are links back to each city official website. We have a 203k in nearly all of these cities of Alameda County and we would like to work on you project to help you achieve the home of your dreams. We appreciate your support and look forward to assisting you with your next 203k project.
The FHA 203k program is revitalizing Alameda County one house at a time. There is a bill before congress to allow investors back into the … (2 comments)
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oakland: FHA 203k and Mixed Use Buildings, perfect for each other in Corona
- 06/07/13 12:14 AM
FHA 203k and Mixed Use Buildings, perfect for each other in Corona 3.5% down payment available financing for a mixed use building in Sacramento CA or anywhere else for that matter. Lets hear from wherever you are. Idyllwild CA in Riverside County has a few, Compton, how about San Joaquin County and Stockton, you have more than twenty-five vacant mixed use buildings in the old downtown area. They are everywhere, all over Los Angeles, the time is now.
One of our partners just listed a mixed use building in Sacramento with a grocery store downstairs in the commercial use and residential on the … (2 comments)
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oakland: FHA 203k Officer Next Door program Idyllwild to San Francisco
- 05/28/13 02:27 PM
FHA 203k Officer Next Door program Idyllwild to San Francisco 50% discount off the appraised value for Police Officers, Firemen, and EMT officers on HUD homes.
Police Officers, Firemen, and EMT officers are in charge of keeping our streets safe and helping our citizens. The FHA 203k Officer Next Door program was designed to help Police Officers, Firemen, and EMT officers in targeted neighborhoods who purchase HUD foreclosed homes at a discount. There are a number of "low down payment" properties and other fixers that are HUD owned and they all have appraisals on them to identify the "as is" value for … (2 comments)
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oakland: Can non profit organizations have access to the FHA 203k loan program?
- 05/26/13 03:36 AM
Can non profit organizations have access to the FHA 203k loan guarantee program? this article will give you the information you need to get your non profit on the way to doing an FHA 203k project to benefit their organization and the surrouding community, anywhere in the USA.
Why would a non profit want to use the FHA 203k loan guarantee program? Most non profits have a specific reason as their mission. Some want to assist in drug rehabilitation, while others may be a church and be active in their community. In either case they both can access the FHA 203k … (0 comments)
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oakland: FHA 203k projects for Non Profit Organizations
- 05/13/13 02:07 PM
FHA 203k financing for non profit organizations Learn who will finance your non profit to purchase and renovation properties as well as how to find some great low down payment properties.
Reasons a non profit might want to renovation homes There are a number of good reasons for non profits to do the FHA 203k projects. We have a lender who will actually work with non profits right now and available in all fifty states.
Benefits to the non profit Put some profit in the till for the main purpose of your non profit Improve properties in your neighborhood Provide … (1 comments)
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oakland: Lets take a look at some Gutters for your new home
- 04/27/13 04:29 PM
4" OG or Oh Gee as some call it and it comes in several sizes but has a similar shape. I've seen 4", 5" and 6" 1/2 Round Gutter
5 1/4" Fascia Gutter is typically for use on a roof that has 2x4 rafters as when they are cut at a 4:12 pitch the result is a 5 1/4" edge as you can see it come sin two sizes most typically. The photo above is NOT a properly made gutter. The hook edge should be 1/4" lower than the opposite edge before it runs up the roof with the "wing". Properly made the … (4 comments)
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oakland: FHA 203k electrical issues that are every day accurances in Oakland
- 12/02/12 04:58 PM
FHA 203k electrical issues that are every day accurances in Oakland
This is the main service panel coming into a home in Oakland. It is hard to believe this hasn't been upgraded for the longest time.
As you can see it has two 30 AMP "penny fuses" that are the carrying the entire home.
HUD Guideline is for a minimum 100A-220V breaker type panel. Therefore this system would have to be updated.
In fact today they would be hard pressed to install less than a 125 AMP breaker type panel.
This was typical with the old knob and tube … (2 comments)
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oakland: Draw inspection for an FHA 203k prolject
- 11/24/12 06:21 AM
This was a fire gutted home in Oakland, CA in the late 1990's. It was raining lightly the day the inspection was made. A small contractor was buying this home as a self-help project. He obviously was qualified to do the work but the consultant must make a recommendation he was the time and knowledge to get this project completed with his normal workload. Though the self help project doesn’t allow the contractor to get paid for his personal labor, he can get paid for work done by others including his employees but he must be able to prove they … (0 comments)
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oakland: Communicating with your FHA 203k contractor in Alameda CA
- 11/15/12 11:22 PM
Not just Alameda, of course, but communicating with your contractor is all important. As a 203k consultant we create the "scope of work" and work very closely with the borrower. The borrower on the other hand doesn't likely do renovation projects every day. I guess it is therefore logical for them to come to the "203k consultant" when they have a problem with the contractor.
Last week was the week of communication with your contractor(s) apparently. I must have had four or five clients wanitng me to hear their story like it was the only time this has ever happened... Good … (0 comments)
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oakland: Can the FHA 203k loan be used for two homes on one lot in Carlsbad?
- 11/02/12 01:04 AM
Yes, is the short answer. This is just a duplex, nothing more. If there were three houses on one lot it would be considered a triplex, and four on one lot a four-plex.
Can you build a detached garage with the 203k, yes, again we can build a detached garage not just repair and existing one but build a new one from scratch if needed. The caveat here is that it must just be a garage with no new living area. If you are adding new living area it must be attached to the existing or main structure.
If you were … (0 comments)
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oakland: What do these homes have in common? Oakland To Roseville
- 09/12/12 03:50 PM
This is a duplex or is it. There are two meters, two distint living area, separate entrances, gee, it smells like a duplex, looks like a duplex, has all the attributes of a duplex.
Isn't it interesting that the city of Oakland thinks it needs a new permit to keep it a duplex even though a couple years ago it would have been considered grandfathered and this would be a non issue.
The new issue is that NOW they need to send the fire department out to see that there is a 24' wide access road to get their equipment … (4 comments)
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Sometimes it is confusing to me that a contractor calls himself a contractor then installs the roofing material so water goes under the roofing materials on the way to the outside edge. Oh, and want a payment for the roof... NOT
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