All Forum Posts by: Enyi Ajoku

@Llewelyn A. i love the idea of having a groups of investor come together to view eachothers property at different times. That is a good strategy that would work immensely.

Well said, i am actually going for a regular 203k just so i dont get stuck in the mud when i get a GC to give an actual estimate/bid for the rehab. I dont expect the loan to fund such luxurious item like the example you mentioned but i do expect the basic of appliances like dishwashers, ranges,washing machine and the likes would scale through

Thanks @John Burtle your write up is so detailed and simple to understand, i have started searching for lenders and ive been getting possible feedback.

Do you know or can you refer me to any GC in the Rochester area?

I am looking to get a contractor for a foreclosed house i intend to buy using 203k as means of finance. can anyone direct me to where i can a directory for contractor who have good understanding of how thing are done from a 203k perspective.

Also a referral will be well appreciated 

I recently came across a 3 unit home, my reached out to my agent for more information and putting in an offer and he told me its a foreclosed house. I am thinking of take advantage of the 203k loan and i would appreciate if you all could help with how i can go about getting finance via 203k and what i need to do to get started.

I have read i need to have GC who would give an estimate for renovation but i don't know if i need to do that before i put in offer or after.

I also intend to call all the banks in my area to see if they fund this type of loan, i'm not too sure but i i haven't seen anywhere that says banks do. Am i wrong

In essence if i am not asking to much can i get a step by step process to get a 203k loan 

I recently came across a 3 unit home, my reached out to my agent for more information and putting in an offer and he told me its a foreclosed house. I am thinking of take advantage of the 203k loan and i would appreciate if you all could help with how i can go about getting finance via 203k and what i need to do to get started.

I have read i need to have GC who would give an estimate for renovation but i don't know if i need to do that before i put in offer or after.

I also intend to call all the banks in my area to see if they fund this type of loan, i'm not too sure but i i haven't seen anywhere that says banks do. Am i wrong

In essence if i am not asking to much can i get a step by step process to get a 203k loan 

Welcome @John Zongor to BP where you can get any and all resources you need that is real estate related 

I think you need to talk to another banker/bank. You can get an FHA/Conventional loan as long as your buying it with the intent to living in one of the apartment. I just got one myself and i am looking to leave in one and rent the others. Try talking to a bank/credit union that is local to your location. You can also leave in the MFR for a year, move out and get another.

@Sherrod Mcgowan i am very interested in this opportunity. I haven't done any deals yet but being on BP has provided me with a lot of information. I would like to talk more on these deals you have and also learn from you. 

@Martin Grizzanti i was going to attend the meeting on Thursday but i have another engagement on that day but i will be attending the meeting on the 27th all things being equal. 

@Ayodeji Kuponiyi aburo!!! thanks for the encouragement and words of advice, well appreciated

@Ben Leybovich its an honor to have a person of your character responding on my first thread on BP. Its people like you and other fellows on BP that give me the belief and zeal to push forward with REI.