Mike Young

Contractors looking for more work should consider the 203k. Just go to the HUD web site and search for consultants. Let the ones in your area know you would like to bid on their future projects. you might be surprised. We just put on a contractor info seminar in Columbia SC to the rehab or remodel contractors group within the builders association. They were quite surprised that there was so much going on around them that they weren't aware of.

Years ago I was called to Merced CA to preform a 203k consultation. Imagine how disappointed I was when just wasn't a feasible property for rehab. it had everything wrong with it. Framing was 2 x 2" with 3/8" asbestos board on the exterior in sheets about 3'x5' as I remember. This was built right after WWII. As if this wasn't enough they were built on patio slabs and there were no footings around the perimeter of the foundation. Had they had enough money to do it right I was planning to dig a footing all around the outside perimeter and install a perimeter foundation and build a totally new home just outside the existing home, then remove the home left inside. the budget just wasn't there.

This was an exception. Most homes can be fixed up. home builders are finding the 203k may provide so much work they can survive very well in this recession.

got a foundation... we can build a house using the 203k program

got a house that needs a foundation... we can build a foundation using the 203k program

need to create a room addition... use the 203k loan program

need a garage... ditto

do you have a tiny bungalow and now garage on a "shotgun" lot... long and narrow? How about using the 203k to raise the home high in the air, install a slab for your new garage under the existing house.

as long as we have a portion of the original foundation we can ... use the 203k program to complete the rebuild

mixed use building with 6 residential over three stores... turn the residential into only 4 units and you can... use the 203k program to do the work

you are a builder looking for ways to create business... use the 203k program

got a 5 or six unit building that you need to rehab... turn it into a four unit building and you can.... use the 203k program to fix it up and convert it.

the 203k can create jobs, rehab 1-4 units. We have even taken old warehouse properties and turn them into 1-4 live work units, the borrower lives in one and rents the others out for additional income.

we are opening an office soon in New Orleans