san leandro: 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)

san leandro: 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)

san leandro: 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)

san leandro: 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)

san leandro: FHA 203k contractor for Hayward and Castro Valley - 05/27/13 08:24 AM
FHA 203k contractor for Hayward and Castro Valley Get the name of our featured contractor for the Oakland Bay Area
This is one of our recommended contractors in the Hayward,Oakland area. Innovation Construction has a professional crew that gets in and gets the work done. 

Andrew Puchkov, the President and operating manager is our contractor of the week. 
Realtors are always asking us for a list of our contractors and we are reluctant to put that list out to the public as such but we will be featuring some of our contractors on a semi regular basis to take note … (0 comments)

san leandro: 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)

san leandro: Sewer Lateral: What's that? Must be tested, repaired or replaced, per the City of Alameda CA - 05/14/13 11:26 PM
Pacita had this great explanation showing a graphic representation of the sewer lateral that I just had to re-post it. The FHA 203k and FannieMae HomeStyle loan programs are great examples of how this issue could be addressed in order to keep your sale on track. The work can happen after the sale closes. A seller can credit the work to be done by lowering the sales price and the repair can happen with other repairs under either of these programs. M
SEWER LATERAL  hardly a topic one wants to discuss, but a very important consideration and negotiation item (and could be pricey) … (2 comments)

san leandro: 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)

san leandro: 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)

san leandro: Up front money for contractors on a FHA 203k project - 04/03/13 02:01 PM
There isn't a week that goes by that we don't get a new contractor on an FHA 203k project crying the blues about getting money up front to get a project started. No matte rhow in depth we go before hand so they contractor understands that there is NO up front money on a Full 203k project
Then you get the contractor who tells you he has done lots of 203k work and he always gets money up front to start the job. Obviously he has only done Streamlined k projects. Streamlined k loans suggest they provide money up front... BEWARE, … (6 comments)

san leandro: FHA 203k - Change in scope... beware! - 04/01/13 11:08 AM
Once your consultant and borrower have arrived at a scope of work and the appraisal is ordered the scope of work may not be changed. The scope of work is merely a list of items to be repaired or replaced but the appraisal will be based on those items being completed. If those items should not be completed for one reason or another it could affect the appraised value. It's very important to be sure that scope is followed to the letter.
During the course of construction there may be items that turn up that need repair that were discovered prior to … (4 comments)

san leandro: Can you use an FHA loan in the Oakland Hills? - 11/29/12 12:49 AM
How about YES?
Oakland Hills or not, the FHA loan guarantee program can be used in nearly every neighborhood. If you aren't using it you may be missing an opportunity. This project was a fun project for all of us. No updating for a long time, we added a finished attic to gain some additional living area, updated the kitchen and bathrooms, which seemed to be the original bathrooms and kitchen.



san leandro: 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)

san leandro: 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)

san leandro: 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)

san leandro: FHA 203k loan and automatic gas shutoff valves in Oakland - 09/22/12 02:18 PM
FHA 203k loan and Automatic gas shut off valves in Oakland or in all of Alameda CountyI'm trying to figure out who requires automatic gas shutoff valves. these valves were intended to shut off gas to the residence in the case of a major earthquake. 
Alameda and Contra Costa counties require them on every house being sold in their counties. We just had one installed as part of a 203K loan in Oakland, California and as I arrived to do my inspection the city building inspector was leaving. We had a chat and he informed me that the city of Oakland would … (3 comments)

san leandro: Draw or payment for work completed in Oakland CA - 08/06/12 01:04 PM
I once had a contractor call me the day after the loan closed escrow to get a draw for the roof structure. Well, when I had made the initial inspection this home had been fire damaged and the roof was some rafters and sky. So I asked the contractor, have you really got that roof on. He assured me that he did and I instructed him "if you don't have the work done you WILL NOT GET PAID... do you understand. He answered "yes" and we made the appointment to complete the draw. 
As you probably guessed the work hadn't yet been started. … (2 comments)

san leandro: Sewer lateral inspection and deposit required - Oakland - 06/16/12 04:20 PM
Sewer lateral inspections are an everyday occurrence and that comes part and parcel with a $4500 refundable deposit that each buyer must put in play to insure the work gets completed in a timely manner. This is a requirement on every sale. It is a pretty simple test where a camera is run through the sewer lateral. In some cases the sewer lateral is pretty long and there have been no clean outs installed to to even do the test some "clean outs" must be installed. 
The camera will tell you if there is a break in the sewer lateral that would … (5 comments)

san leandro: 203k lenders need to venture into the realm of the "Full 203k" loan program - 03/27/12 12:40 AM
Any lender that does FHA loans can get into the Streamlined k loan program.. is that right? problably not, but that is the fact. They dont' have to know anything or take a course just start doing them. What has happened with that program? What happens when you have no oversight on any government program? It fails or has repurcussions. 
We find that it is better to have consutlants involved, even on the streamlined k product. That oversight is so important. Our friends at Bank of America use is on the Sreamlined k as well as the "Full 203k" because it … (2 comments)

san leandro: Working with "Teams" is essential with the FHA 203k loan program from Dallas, TX to Lafayette, CA - 03/09/12 11:45 PM
Why do we work with team? Simply that you get to know what to expect and know that the other team member will be doing their part to see that the deal gets closed. Once in a while you get reminded that not all teams are equal and you may have to work with a team member to get them up to speed. 
I've just spent the last 3 hours writing a rather larger project work write up, Sent one of my team members a note to get some missing info when I was told the borrower didn't qualify and the … (1 comments)

Mike Young, FHA 203k Consultant 916-758-1809 (, covering the USA) Rainmaker large

Mike Young

FHA 203k Consultant 916-758-1809

Las Vegas, NV

More about me…, covering the USA

Address: Wherever you need us to be, Fairfield, CA office, Fairfield, CA, 94534

Office: (707) 812-7668

Mobile: (704) 451-1599

Email Me




RSS 2.0 Feed for this blog