Mike's 203k Blog

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Home Inspector - 203kOnLine.com, covering the USA - S0289
203k loans, the hottest renovation loan product on the market. Offering quick closings on homes that require repairs.
RECENT BLOG POSTS
A 203k Consultant should visit the site, determine what needs to be done to bring the property up to the FHA MPS (minimum property standards) then add the wish list items, if any, from the borrower. The idea is to provide the borrower with an estimate of the repairs prior to getting their contrac...
06/18/2014
What is in a 203k consultant's FEE for services? FHA 203k fees were set up in 1994 and were adjusted one time to add some depth and extend the upper fee from $700 for $30,001 to $50,000 and add a fee of $800 for work from $50,001 to $75,000, a $900 fee for construction between $75,001 to $100,000...
06/08/2014
How do I get a "Sewer Lateral Waiver" for the refundable security deposit EBMUD East Bay Municipal Utilities District (EBMUD) need a copy of these three pieces of the puzzle signed by the parties involved in your email requesting them provide the waiver;   1) Borrower's acknowledgment    2) Homeo...
06/04/2014
Feasibility analysis are quite often misunderstood, if you want to know more about what that is and its uses click here Feasibility Analysis. Today we are going to talk about a couple of examples where the feasibility analysis saved the day for a couple of our clients. Example 1 - Two elderly lad...
05/17/2014
What are Minimum Property Standards (MPS)? In a nut shell these are typically health and safety issues. These are considered minimum property standards for anyone living in a home in the USA. These can be simple things like broken windows, obvious trip hazards, holes in the floor, and more comple...
05/17/2014
To understand who sees it one must first understand what it is...  Feasibility Analysis - This is a "quick look" at the deficiencies in a 1-4 unit building or in a building that will become a 1-4 unit building. I never take more than 30 minutes to look at a single family unit as there just isn't ...
05/17/2014
Kevin OMalley Annouces Big News for Las Vegas, October 12-15! 910 Paper Trail Way Suite 101Canton, Georgia 30115(760) 487-7742   TO ALL INSPECTION CONFERENCE SPONSORS   Re:  2014 Las Vegas InspectionConference.com event – October 12-15   There have been some wonderful things happening in the pas...
05/07/2014
It is my opinion based on fact that every FHA 203k loan should be a Standard or Full 203k. In 2005 the Streamlined k came on board as there were those in the industry that felt many small renovation projects didn't really need a "consultant".  Now after about 9 years the Streamlined k accounts fo...
05/07/2014
Smoke Detectors can give you a false sense of security Ionization type or "the cheap alternative - photoelectric". So many people have fallen into the trap of just looking at the price of an item and taking the lowest priced item... not always the best as in any business quite often you get what ...
05/03/2014
I caught this lobster on camera feeding on a Volkswagon Bug in Orlando week before last.It certainly caught my eye. Actually made me hungry for Lobster. I like them broiled... mmmI can't imagine going to an "all you can eat" lobster restaurant and having great lobster. Who knows, I supposed it mi...
04/29/2014