I spoke with Mike today. He is very knowledgable about the 203K Loan Programs.
there seems to be some confusion on the 203k and investors.. 1) yes the Investor Program for the 203k is gone... but not forgotten 2) Yes, an investor can purchase and rehab a property under the 203k loan program. here is how... an investor may purchase a 2-4 unit building or a mixed use building and rehab it provided the investor will live in it. Can you keep your existing home as a rental... yes provided you have no more than 75% LTV. 3) How can investors get out of properties once they buy and rehab using conventional means? It is easy and we show you how in our seminars. Next one is tonight at Key Source Bank at 7 pm. other dates are open on Sept 29th and Oct 6th just call or email Don Newman M