203k Training comes to Walnut Creek

Mark your calendars for April 27th at 1 - 3 pm for another event being held by Bank of America and the Jim Black Team. Jim is very knowledgable and you can't go wrong with his team. Jim puts on a spendid presentation and he does it with class. Jim's Team has their presentations around the noon hour and feeds you some snacks or lunch at the same time. If you don't like the program, the food is good... just kidding around. This is one of the best 203k prsentations I've seen and believe me I've seen thousands of them over the years.

They must be good as they have asked me to talk about the duties of the consultant, a feasibility analysis and when to use one, and the just what we do as consultants for our fee.

I must tell you that doing an FHA 203k loan with a lender that can do but the Streamlined k and the FULL 203k loan programs makes allot of sense. So many times over the past few years I've heard about 203k projects falling out as the construction costs were too high... I now will ask if the contruction costs were $37-40,000 and in most cases I'm told "yes, how did you know?" I know because we have a numbe of 203 projectsr that the construction costs exceed $400,000 but my guess was their lender was only doing the Streamlined... these loans don't typically fall out due to the amount of construction... if they do then you are not playing with a "team player", join a team and get one working for you that can close 203k loans and does both the Full 203k and the Streamlined k so you don't get caught up hearing how your construction costs are too great.

I had one the other day that was a "streamlined k" loan the consultant who wrote it up was a "newby" to the business thinking as so many do that a Streamlined k" can go up to $35,000.... THAT ISN'T THE "WHOLE STORY" they failed to learn their product, sorry to say as the lender has to take into account "costs and fees" and together with the construction costs it must be no more than $35,000. The contractor was told his bid must be under $35,000 so he came in at $34,994.... but when you added this lenders mandated 10% contingency and their loan fees this was nearly $40,000 and no longer a "Streamlined k" loan.

Won't you join The Jim Black Team at Bank of America and The Mike Young Team for two hours of strategies that can help you play at the top of your game? See you there. So there is food eniough for everyone please contact The Jim Black Team to RSVP.