203k - The sleeper - Benicia CA

Home Inspector with 203kOnLine.com, covering the USA S0289

I'm still amazed at the number of asset managers that still insist that they won't take FHA offers. I was just listening to the Mitchell Churnock's weekly radio show featuring the 203k and he hits them right between the eyes... 

Asset managers, wake up please. If you are excluding the FHA 203k you are not getting all the sales you could be getting for your clients. If there are any banks out there that have distressed properties... lol. Let someone familiar with the 203k list them for you... You will find that you will sell them faster, get more money for them, not have to fix anything, all work happens after you are paid and out of that asset. Yikes! It is everything that you want... 

You want to get the economy back on it's feet fast then stop giving big banks bailout money they don't need. Let the banks, who have already written off the losses, donate their properties to the counties where they exist and take another write of. The counties then sell the homes fast at any price... satisfying their "affordable housing" requirements, gaining tax money, gaining new tax basis, and getting fixers out there on the market so local contractors get very busy, lots of them will have to hire people to get these home fixed up... home prices will stabilize and go up... maybe that is too easy.

I heard a person on a radio show a moment ago saying that the best economy ever was in 2000... NOT. Think back a little farther back as I remember it was when we lowed taxes and let the people spend their own money... locally. If we are looking for more stimulus reduce or eliminate the corporation tax on small corps or LLCs that don't make $200,000 this year... the people will start thousands of little businesses  and many will hire one or two but that will calculate to hundreds of thousands of jobs at the local level and not all highway jobs. 

Sorry, but all corporations are not big companies

Posted by

Mike Young, 203k Team Leader    Mike ready for your 203k order

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Comments (1)

Mitch Reames

Great article Mike!  Keep them coming. 

Sep 10, 2010 11:16 AM