Hi Newark Investors!
For those with some 203k background, I'm looking for recommendations for general contractors with 203k experience. Any leads would be greatly appreciated!
Your 203k lender, if they are experienced, should have few contractors they have approved, since it is the actual Lender that approves your contractor. Also, any contractor with relevant experience, proper license and insurances, decent reputation, will qualify.
@Wayne Brooks I also assumed my lender would have a list, however they intentionally don't maintain one to avoid liability in the event of a bad recommendation. Was hoping to tap into the large community of Newark investors that have already gone through the process that could recommend a specific contractor.
I'd be a little nervous of a 203k lender that isn't willing to provide any leads even with caveats. Once you have a couple of contractors who do 203k loans be sure to ask them about their experience with your lender and others. There's so much red tape with these loans you want that contractor-lender relationship vetted.
@Jonah Richard - my 203k lender referral has reliable contractors that understand the 203k portion and they help manage it together to make sure it stays on track. PM me for info and I will send you their contact or direct to the 203k contractor.
@Jonah Richard Call Gary at from Capnovate construction, Their company info is listed under contractors on this site. I know they are doing a job now in Newark, and are 203K certified as well.
Hey Jonah, we do 203k construction but only in NYC. If you need a good mortgage broker try Barry Koven of Loan Depot.
Please let him know Jonathan from B&H reffered you.
we just had a meeting on 203k the other week.
@Vincent Priore might know a thing or two about 203k contractors
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