Posted on May 13, 2022
What happens when the interest starts climbing?
Fewer buyers in the market make fixers that much more attractive. The FHA still has a lower downpayment than most other loan programs. If you are doing business where there are a lot of older homes or homes over a year old that need work, you should indeed consider yourself very lucky indeed.
You are sitting on a gold mine of sales.
Example: Needles, CA, has an abundance of homes that qualify for a 203k
- Older homes.
- Small homes that could be added onto.
- Single-family homes that you add an ADU to to make it fit your expanded family.
- Small investors can purchase four units, rent two out to pay the mortgage payment, have one provide you with money to buy food for the month and live "rent-free" in the fourth unit.
- Mixed-use properties are a windfall for you, as you could sell a commercial building and add residential use and get it for 3.5% down. Maybe a warehouse and turn it into a live/work project with multiple units. Use your imagination. Call me when you are ready for the consultant. 203k consultant, 203k report writing software, FHA consultant software, 203k loan, 203k consultant near me