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Mike's 203k Blog
Author Administrator
Title New post - 458237
Created Sunday, Mar. 15, 2009
Link www.203kOnLine.com
Content

FHA loan limits have been increased dramatically and that includes the 203k. Some real estate professionals are missing the boat with mixed use buildings, warehouses in residential neighborhoods, and larger income units from 5-8 units... all of these are 203k potential. 

Warehouse - turn it into "Live/Work" units up to 4. Yes the owner must live in one unit but many people would live in a "Live/Work" unit know lots of other people who might like that too and become tenants. The additional rental units add income to the borrower's other income. If they can qualifiy for a SFR then they will likely qualify for this.

Mixed Use - ignor the commercial and work with up to 4 residential units in the building. If you could steal a 3 story building with multiple units... make them flats with commercial on the bottom floor only... 

Start looking through your MLS files for larger type buildings that might fit these scenarios. We are here to assist you wherever you are.

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Title Author Created
New post - 458237 Administrator Sun 15 Mar 2009 2:59:01 PM EDT
re: New post - 458237
Mike Young Sun 15 Mar 2009 9:02:45 PM EDT
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