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Description:

More than 80 percent of distressed real estate (foreclosed homes, short sales, etc.) require renovations or fixes before and/or after purchase. It's often the reason these properties are available for pennies on the dollar.

Unfortunately, a large portion of these homes do not meet Federal Housing Administration (FHA) property standards.

The good news is that statistics show that property owners who utilize the FHA 203(k) loan and renovation program create between 15 to 30 percent (or more) of equity beyond their cost of acquisition and renovation.

Amazing results in this current environment.

Accordingly, the program is becoming more and more popular as individuals are buying distressed properties and are looking for assistance to repair them.

There are guidelines and standards, however, which must be met for every 203(k) loan. Learn how to leverage the benefits of the 203(k) program for your clients — and your bottomline — during this Certified Foreclosure Agent training course offered through Foreclosure.com Agent University.

This comprehensive 90-minute session will cover how to:

• Understand the federal guidelines and standards for the 203(k) program
• Help your clients determine wish list items vs. required items
• Identify key renovations that add instant value to a property
• Know who are the key players the client will need to successfully apply and complete their 203(k) project
• Learn from examples of successful 203(k) projects
• Avoid being swallowed up in the bureaucracy of the program

Presenter:

Greg Story

Greg Story, principal and owner of A.M. Renovation Consulting, is a nationally recognized expert in renovation consulting. Read more Mr. Story is a qualified expert in U.S. Federal Court, as well as most Superior and district courts in Massachusetts. His opinions have been featured in major media outlets, including the Massachusetts Lawyers Weekly as the "most helpful expert." Mr. Story has more than 25 years of experience in real estate valuation and renovation consulting experience. His straight talk and practical approach to a renovation project is what sets his company apart from others. He views his role on each project as the advocate for homeowners to help them understand the pros and cons of each renovation and the long-term impact to the home's value. Close

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