Mooresville, NC, March 01, 2010 --(PR.com
)-- The Real Estate Investing Minute, a twice weekly web tv show that informs and teaches real estate investors about investment strategies and real estate news focused on the HUD 203k loan program on the February 23rd episode.
The hosts of the show, Judson Voss and Allison McArthur informed investors of the specialized loan program offered as a mortgage insurance option for lenders. The 203k loan program allows retail buyers to purchase and finance homes in need of significant repairs. The program includes repair costs over $5,000 for retail buyers of owner occupied homes up to seven units per building. Without this program most buyer’s would not be able to finance homes in need of repair through traditional lending programs.
Ms McArthur went on to explain that the 203k program is also an excellent opportunity for real estate investors to sell foreclosed homes and short sales to retail end buyers without having to do any of the rehab work normally associated with flipping homes to retail buyers.
Judson shared that this combined with the first time home buyer’s tax credit can be a great way for buyer’s to get into homes with little to nothing down and have repairs and upgrades done with the buyer’s personal preference in mind. He also shared that Lowe’s Home Improvement is working with groups around the country to assist retail buyers in the rehab process.
To watch this episode and learn more about how 203k loan programs can help your real estate investing business visit, http://www.thereiminute.com/financing-flipped-homes-with-203k-loans/ for the entire episode.
For more information about 203k loans, and other real estate investing information and news visit http://thereiminute.com The Real Estate Investing Minute is a twice weekly web tv show brought to you by Get Real REI one of the top iTunes business podcasts.