Forum

Author	MikeY
Title	203k for the investor and non profit organizations
Created	Sunday, Apr. 05, 2009
Link	http://www.203kOnLine.com
Content	If you are thinking that real estate investing may be a good thing for you the 203k could be a great way to get your feet wet. While FHA requires an owner occupant or a non profit, a young entrepreneur might think about a mixed use building rental property and convert the rental units to no more than four. The store income cannot be used to help the borrower qualify but the other residential units can. We did one in San Francisco that there was a four story building and one unit on the first floor and 3 stories above with a flat on each floor. The property had been in the 'family' for many years and the rental units had been pretty much ignored and needed extensive work to be livable. The proprietor wanted to live close to his store for security and since the family had owned it for many years the existing debt was zero. This was a simple decision to bring this property up to code and make the rental units pay for the renovation. A 'win win' situation and the City of SF won too.

Post new comment

Name*
Title*
Link
Comment*
	For security purposes, we ask that you enter the security code that is shown in the graphic. Please enter the code exactly as it is shown in the graphic.
Your Code
Enter Code*

Title	Author	Created
203k for the investor and non profit organizations	MikeY	Sun 5 Apr 2009 7:10:30 PM EDT
re: 203k for the investor and non profit organizations	Mike Young	Wed 8 Apr 2009 8:54:46 PM EDT