One excellent way for wholesalers to make quick profits without the hassle of doing renovations is to sell properties to end borrowers using the FHA 203(k) loan.
If you are interested in this type of business venture, please get in touch with me dwagner@acceptancecapital.com to discuss some details.
I specialize in the FHA 203(k) renovation loan. This program allows someone with a score as low as 580 purchase a home and finance renovation costs into one permanent mortgage. The total loan amount can be up to $287,500 in Orleans Parish and the down payment is as little as 3.5% of the entire project budget (purchase price plus renovation costs).
If you have properties you want to sell this way, lets talk. If you have a renovation budget estimate, we can put together a sale package for you to use in marketing your deals (it is a pdf file you can use to send to interested prospects from craigslist, etc.).
Go to my website http://www.203k-loans.com and click on the 203(k) information. Also, click on Contractor Information if you want to see the details the contractor must know to do these loans.
Don't have a contractor? I have several excellent contractors skilled in the FHA 203(k) program that I can recommend.
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David_Wagner_LA
09/17/2011 @ 12:35 PM
