The Rough Show notes are below - feel free to listen to this episode of Santa Clarita Radio at SCVmoves - My BEST
Blog Talk Radio, 30K appraisals previous Construction Loan Lenders. Started Restoration, 2005ish, Bristol Restoration has completed 8K homes currently.
What do I need to do and what do I need to see to make this FHA, minimum 2 year requirement, roof....
A list - if I was a buyer, look at the water system, main at the front of the home. Galvanized, or copper? - Galvanized pipe over 25 years ago. Potential water leak somewhere else in the house.
Windows, are they sealed, and do they open.
Hot and cold water works, in all faucets...
Let's talk cost versus - value. Bristol has the value when it comes to guaranteed work and proven performance.
Turn on all of the faucets, rust comes, in all sinks, flush toilets
B list - something that looks like it has been quickly repaired.
GFI, safety, installation of light plugs and fixtures, any illegal wiring, in the attck, in the crawl space.
FHA, requires flooring. Sub floors. Covered with something, health and safety, stained concrete floors, approved. Sub floor, Safety and Health, Buyer, visitor.
Dependent upon the Lender, it will make a big issue. FHA to the letter, 150 pages, we broke it down on a one page check list. <--- FHA versus VA. VA have more requirements for the amenities - all of the appliances need to be installed. VA need a range in the kitchen. All appliances, all fully functional and working.
Seller - Hiring a company such as ours - look to provide only the services they are required. All of the current codes. Every Six months.
Get Licensed workers, contractors, etc. Lead Based Paint, called to testify, Realtor's handyman that did the touch up paint.
Warranty all repairs for 1 year. $1000 or 10%, which ever is less.
Could seek a 20-30% down payment, if an investor.
Hiring a Contractor. Look at the contractor licensing board - California. Fully insured, workers compensation. Works on the property, employee, works compensation, if any issues arise, the workers can come after you.
It's a relationship, all as consumers - change our minds, based on every day goes, have a good relationship with. Questions, how well he does his work. Communication, first and foremost, does he listen, does he answer your questions?
Start Negotiating, how you want the job to be completed, based on your desires, needs, wants and budget.
Where are you guys located?
25010 Ave Stanford, Santa Clarita CA
Comfort Zone? Kern County, LA, Ventura, Santa Barbara, Orange County
Services you provide for REO assets and Management?
Fannie Mae, Freddie Mac, just recently became preferred status.
Full Rehab company, sale able condition, preservation work, initial inspection, health and safety, paint 100 houses a month, 80 houses a month, 100 houses, a month install appliances, General repairs throughout. # of GFCI's.
Facebook: Bristol Restoration
www.BristolService.com - Apartment, Asset Mgr, Realtor in REO biz.
March 1, 2012
www.PassFHA.com - For the Realtor and buyer of FHA properties and has the FHA checklist. They come out and do the FHA checklist, and bid on the repairs of those items. App - Buyers requests for repairs, Buyers want, request directly from that site.
April 15, 2012
www.BristolRestoration.com - Functional Now, does not have all of the bells and whistles. Buying and upgrading, all of information on every finance option on all types of loans, cost for painting, re-roofing, request services, partners, 203K lender, sign up, We are not in the lending business. completed the process and how they can get it done. Last Quarter 2012
M-F 8a - 6p