203k Rehabs in Atlanta does anyone have stories/advice?

Asked by Smellow, Atlanta, GA Thu Sep 27, 2007

Looking at Properties in East Atlanta (around Imagine Wesley /Childrens Garden schools) and West Atlanta (mostly because of posters on Trulia). Looking at low cost (sub 100k) fixer uppers anyone have any advice?

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Chris Colvin, Other Pro, Marietta, GA
Wed Apr 21, 2010
I see this is an old post, and not sure why it still comes up so high in searches... but without question an experienced 203(k) Consultant was needed here. We handle 203K Consults all over GA, and are recognized regionally for professionalism and expertise.

Chris Colvin
Jason Fritz
1 vote
James Dudley, Agent, Suwanee, GA
Thu Sep 27, 2007
Are you planning on renting or selling after you rehab these properties? The market is very slow here and with tightening of lender qualifications many investors have slowed on aquiring new properties.

Many who are still active are renting/lease purchase their properties until things pick up again.
1 vote
Rob Weber, Mortgage Broker Or Lender, Plainfield, IL
Wed Jun 6, 2012
Web Reference:  http://RobWeber.com
0 votes
Jonathan Bla…, , Atlanta, GA
Fri Oct 7, 2011
If you're going 203K then don't go with a one off generalist loan officer, use a specialist.
Web Reference:  http://www.203kloan.net
0 votes
Garrett1605, , Douglasville, GA
Sun Jul 25, 2010
If your having a difficult time finding a home in good repair, you might want to look at FHA's 203k. This loan allows you to purchase a home as is and adds money for repairs or up grades, Before the Home Inspection I would suggest a feasibilty inspection.

I am a 203K Consultant Trainer, 203k Consultant and I own a Construction Company. We charge $150.00 for a Feasibility Study. A Feasibility Study Inspection is used to answer the question "is this property feasible" for the 203k loan. It is a quick walk thru inspection to identify what repairs must be done to meet HUD's property standards, your desired items and offer a ball park cost estimate before you have to bear the full expense of full blown Consultant Work Write Up.

This might be a good option for you. Check out the web site below for more information.

Garrett Feis Sr.
Douglasville, GA
0 votes
Jason Fritz, , Marietta, GA
Thu Jun 3, 2010
Hi Smellow, My name is Jason Fritz. I am a licensed General Contractor and HUD 203k Consultant in Georgia. We have completed hundreds of 203k projects and offer very competetitive pricing as well as excellent customer service and overall project satisfaction. I would love the opprotunity to discuss your project with you. You can visit our websites at http://www.TrueCraft.net or http://www.GravityConsultingGroup.com
or call me directly at 678-873-5260. Thanks, and Good Luck.
Jason Fritz
0 votes
Bill Grange, Home Buyer, 91303
Fri Oct 2, 2009
East Atlanta is fine for taking advantage of the FHA 203k loan program. The FHA 203k loan is HUD's primary program for the rehabilitation and repair of single family properties. It's basically a home improvement loan.
0 votes
Jeff Luther, Home Seller, 30030
Tue Jul 28, 2009
The 203(k) loan is not ideal for fixing up and selling as the loan is intended for someone that is going to live in the home. We are HUD 203(k) consultants and have seen a pretty significant increase in these loans over the last few months. Folks are getting some pretty good deals and a lot of the issues are simply that the property was trashed as the previous owners were on their way out.
Web Reference:  http://www.home-probe.com
0 votes
John Gianoul…, , Atlanta, GA
Tue Jun 10, 2008
If you are looking to fix up and resell, I would focus on the east side of Atlanta. If you are buying and holding, than the west end makes sense price wise.
Get your financing lined up and than start looking. Deals with equity in them go quick and you want to be3 reay to pull the trigger as soon as you find something.
0 votes
Rich Dansere…, , Atlanta, GA
Tue Mar 25, 2008
I work for Home America Mortgage out of Lawrenceville, Georgia and we are a direct lender. We offer all FHA programs including the 203k. Please feel free to give me a call at 404-354-2024 and I will be happy to answer any of your questions. You can also view the webpage for the Thornton Team at Home America Mortgage.
Web Reference:  http://www.thorntonteam.com
0 votes
Paul Renton &…, , Atlanta, GA
Fri Sep 28, 2007

You can give me a call, I would be happy to help you or give you some free advice. You will be the 2nd person this week I will have helped, hopefully you have anot comitted to as property yet. There is money to be made but a lot to be lost if you are not aware of the pitfalls. you can get my number from our web site http://www.TeamRenton.com
Web Reference:  http://www.TeamRenton.com
0 votes
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