Hickory NC - every time I open my eyes I see 203k projects
By Mike Young, FHA 203k Consultant 916-758-1809 cell direct
(203kOnLine.com, covering the USA)
Hickory NC - every time I open my eyes, I see 203k projectsNo kidding. We are buying a home in Hickory, NC currently, and on the way to it and back, I see so many potential projects. What did I see today?1. A small commercial building for sale. A stand-alone small store for sale... yep, it is a potential 203k loan. Typically, a lender would require a 30-35% downpayment, but if you add residential use to the 2nd floor or maybe the 2nd and 3rd floor, you get a residential rental unit, a living unit for yourself, and a commercial property for only 3.5% down.2. A multitude of single-family homes, in need of repairs and some TLC, caught my eye. We're not talking about a handful, but a significant number, possibly 50-60, in need of attention. Some of these properties weren't even on the marke...
Comments
0