203K hud inspections

looking for a place to find info on the 203K hud inspections that are out there to do.Does anyone know anything about this ?

Go to thud web site (google 203K) - they will tell you everything you need to know

http://203kinabox.com/

Trying to get the new guy to spend all his money John?..:slight_smile:

Forgot about that one.

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Booked today! Catherine Hall from 203K in a box will be at our convention August 16-19th at the Orange County convention center.

If you want to do 203k HUD inspections she is your GOTO WOMAN. also known as the 203k Queen.

The short answer Tom is you first have to be an approved 203K consultant. The quickest way to get there I know of is 203K in a box. you can do it your self but if you follow Catherine’s program you can get approved is 4 to 6 weeks.

I applied and got approval in a couple weeks. The items they want are pretty simple to obtain, you can e-mail most of them too…

I would encourage many of you to approach the banks before you sign up for 203K in a box and spend your hard earned money. If you do not have a real building background, a contractors license or something the banks feel worthy, you will never get bank approved or recommended. Banks control the 203K process, not the home buyer. Most realtors hate the program due to the closing delay, so little support there. Only a handful of banks doing 203K’s. the largest mortgage broker in central FL, RP Funding, does not touch 203K. Banks toss 203K consultant resumes in the trash daily.

See if you can find a bank that will approve you and recommend you first. You will find this is not easy. Oh by the way, if you charge mileage per HUD guidelines, the bank won’t use you.

Key thing you should honestly ask yourself: Do I have the knowledge and skills to estimate a structural job such as moving interior walls, adding on a room addition, constructing a Florida room, installing utilities, etc. If you can’t deliver an upfront estimate that will be within 3-5% of the ultimate contractor’s estimates, the bank will toss you. They don’t like to wait for the contractors estimates and want to get the borrower approved.
You need to be able to do this for $400 to $600 as well.