Every home sale should be a renovation loan
That is correct, you heard me. Why not sell every house you show?
This home is clearly in need of allot of work. Some are much less in need. But every home could use some new carpet, or hardwood flooring, maybe new windows, updated kitchen and bathrooms.
It is all in the eye of the beholder for sure but can you imagine there are many benefits to using a renovation loan such as, cleaning up the small things that are already broken that are obvious to room additions. If your client is looking for a 4 bedroom, 2 bathroom home and the MLS is sparse in that realm. No problem, add a room or two with the FHA 203k.