How's Everyone Doing?

[randynavarro]

Anyone have any good war stories yet or have questions about getting up and running?

[Ben H]

I've been dragging my dang feet on this. Don't know why really. Are you still slammed with the 203k stuff?

[Marc]

Anyone have any good war stories yet or have questions about getting up and running?

All's quiet on the Southern front.

Marc

[Mark P]

Well since you asked…. I inspected the wrong house last week. It was for a relocation company and they gave me the wrong street number. I drove to the address they gave me, it was for sale, had a lock box on the door and was unoccupied. It was also a real piece of crap too, I mean really bad; so bad the inspection did not take to long, because after awhile it was evident the entire electrical and plumbing systems needed replaced, the ac was stolen, etc. The house was out in the middle of no where and I had no cell phone access. After I finished the inspection I drove about 5 miles to where I had phone coverage and stopped to check messages. I had a message for the owner of the home I was supposed to be inspecting. She said she was waiting at the house and wanted to know where I was. I had all kinds of thoughts race through my head, and words raced out of my mouth. It turns out the two houses were directly across the street. She later told me, “I saw you over there and thought you might be confusedâ€

[randynavarro]

I've been dragging my dang feet on this. Don't know why really. Are you still slammed with the 203k stuff?

Yes, very busy. It's probably about 75% of my work load right now.

I understand the getting started part. It's tough. You don't know if all the effort will pay off.

It might be worth it to do a little bit of research to find out how much 203k activity is actually in your area.

I can almost guarantee if there's a lot of activity, the lenders and would welcome a competent inspector that can do good paperwork and really spearhead the 'K' for them.

[randynavarro]

Well since you asked…. I inspected the wrong house last week. It was for a relocation company and they gave me the wrong street number. I drove to the address they gave me, it was for sale, had a lock box on the door and was unoccupied. It was also a real piece of crap too, I mean really bad; so bad the inspection did not take to long, because after awhile it was evident the entire electrical and plumbing systems needed replaced, the ac was stolen, etc. The house was out in the middle of no where and I had no cell phone access. After I finished the inspection I drove about 5 miles to where I had phone coverage and stopped to check messages. I had a message for the owner of the home I was supposed to be inspecting. She said she was waiting at the house and wanted to know where I was. I had all kinds of thoughts race through my head, and words raced out of my mouth. It turns out the two houses were directly across the street. She later told me, “I saw you over there and thought you might be confusedâ€

[mgbinspect]

I've been on the sidelines while I transitioned from owning and living in my home to renting it and moving into my travel trailer, which entailed an estate sale. But, I am still very interested in re-submitting my application, as I got the same letter as Tom - lacking detail. There are a lot of lenders and Realtors here begging me to get going.

As soon as my home rents, I'll relocate the trailer and concentrate on things like the 203K, again. Hopefully it'll all fall into place in the next thirty days.

[Scottpat]

203k's are not taking off in my area as in other parts of the country. Over the past six months I have had seven 203k clients. Out of those seven clients only 2 have gone anywhere. The largest problem outside of really crappy homes has been with the clients finding contractors who are willing to work with the program.

[Marc]

To get 203K's started here, I'd have to become familiar with many of the aspects of it and 'sell' it to mortgage lenders. They won't leap into it unless prompted.

Marc

[Tom Raymond]

I was contacted last week by a bank looking to verify my info and position on the roster. I would think that means there is some action out there. Where would one look to see how much 203k lending is going on in their area?

[randynavarro]

Try this:

http://www.hud.gov/pub/chums/f17fvc/203k.cfm

I'm not quite sure what "endorsed" means. I suspect it's that point when a lender actually funds a 203k loan and FHA "endorses" the loan and insures it.

However, it's the gov't. That's too logical.