“How does a HUD Consultant market their services?”
I get asked from time to time by HUD Consultants as to how they can obtain more business. Although there are numerous ways to go about marketing your 203k Consulting services, I’ll explain what’s worked for me in the past.
As most of you are already aware, the Real Estate Sales Agent is generally the point person in introducing a potential home buyer to the FHA 203k loan. Having said this, it then only makes sense to market directly to the Real Estate Community. If you agree with this, we have to look at what marketing vehicle will get the biggest bang for the buck?
Having tried a plethora of marketing campaigns to find home buyers looking to utilize my FHA 203k Consulting Services, I’ve found that joining my local Board of Realtors as an “Affiliate Member” has worked the best. Most people aren’t aware that even though they are not a licensed Real Estate Agent or Broker that they can still become an Affiliate Member of the local Board of Realtors for a nominal fee. My local Board of Realtors charges Affiliate Members $155.00 a year, on a prorated basis. I would also suggest to join a committee and get really involved so that most Realtors in your area know who you are and know you by first name basis. Once you’ve established yourself, ask the administration if you can give a seminar about the details of a FHA 203k loan. I hope this helps some of you.
John Russo, Easy 203k Professional
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Easy 203k Professional FAQ’s
Question 1: I am trying to print the draw request I created and it prints a void stamp across the 1st page and does not have my $$ amount entered.
Answer 1: This is because the loan “acceptance date” has not been entered into the projects “General Information” page. Before this date is entered, the project will only print a blank draw form as you described. This is often requested by underwriters prior to the loan being approved. After this date is entered, the project status will change to “Loan Accepted”, and the 1st draw will be printable in its entirety.
Question 2: On my draw request, on page 2 there is an additional 10% taken off, can you tell me why?
Answer 2: The 10% subtracted from the draw total you are referring to is the “Holdback Percentage. The” Holdback Percentage” are funds that are held back by the lender until the job is complete and there are no liens on the property. Our program is set to add the holdback funds back to the draw which is marked as “Final”.
The amount used for the “Holdback Percentage” is set by the lender for the project, and is entered on the project’s general information page. The default value is 10%.
Easy 203k Professional Contact Information
(951) 836-0530 (general info only)
Main Site http://www.easy203kpro.com