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Testimonials
Fist let me say that my mortgage payment is $1,279. I collect
I come out of pocket each month for only $279. I live in what
feels like a mansion of a home.
I have rented for over 20 years. Home ownership always
seemed a little too far out for me. I was never able to save
enough money for what I thought was needed for a down payment. But when I sat through
the HBR workshop my life literally changed. I couldn't believe what I was hearing. There are
these government backed loans that only require a 620 score to qualify and mine was not
too far from that. I left that workshop looking at every boarded up property in and around
my neighborhood thinking I could buy it. I now new how to calculate how much I could
afford and also understand how my budget numbers work. I went window shopping and
completed my "What I Like" form (My Wish List). That was much more work than I thought
but it was a lot of fun, just knowing I was gonna have all this cool stuff in my house.
A week or so later my Realtor found me the property we discussed. The contractor let me
know what it was going to cost bring the property up to HUD standards then discussed my
with list which was quite long. I spent a lot of time at Home Depot and Lowes. We basically
built the kitchen around the appliances I chose. Still can't believe the appliances are included
in my loan. My loan officer and I agreed it would be a good idea to put a few mortgage
payments into my loan also to give me some breathing room while the work was being done.
This is all too good to be true. I purchased the property for $61,500 put $65,500 into to
it and it only needed about $20,000 to bring it up to good condition the rest was stuff I
wanted done to make it my dream home. I had it converted from a single family to a legal
two unit. It appraised out for $256,000. Wow over $100,000 in equity. I did just like
these cash investors except the equity is in my pocket not theirs and all the work was done
for me. I didn't lift a paint brush. Awesome!
Marc Washington
I come out of pocket each month for only $279. I live in what
feels like a mansion of a home.
I have rented for over 20 years. Home ownership always
seemed a little too far out for me. I was never able to save
enough money for what I thought was needed for a down payment. But when I sat through
the HBR workshop my life literally changed. I couldn't believe what I was hearing. There are
these government backed loans that only require a 620 score to qualify and mine was not
too far from that. I left that workshop looking at every boarded up property in and around
my neighborhood thinking I could buy it. I now new how to calculate how much I could
afford and also understand how my budget numbers work. I went window shopping and
completed my "What I Like" form (My Wish List). That was much more work than I thought
but it was a lot of fun, just knowing I was gonna have all this cool stuff in my house.
A week or so later my Realtor found me the property we discussed. The contractor let me
know what it was going to cost bring the property up to HUD standards then discussed my
with list which was quite long. I spent a lot of time at Home Depot and Lowes. We basically
built the kitchen around the appliances I chose. Still can't believe the appliances are included
in my loan. My loan officer and I agreed it would be a good idea to put a few mortgage
payments into my loan also to give me some breathing room while the work was being done.
This is all too good to be true. I purchased the property for $61,500 put $65,500 into to
it and it only needed about $20,000 to bring it up to good condition the rest was stuff I
wanted done to make it my dream home. I had it converted from a single family to a legal
two unit. It appraised out for $256,000. Wow over $100,000 in equity. I did just like
these cash investors except the equity is in my pocket not theirs and all the work was done
for me. I didn't lift a paint brush. Awesome!
Marc Washington
| Borrowers Income: $45K Purchase Price: $61.5K Cost to Rehab: $65.5K FHA Loan Amount: $137K After Improved Value: $256K Equity: $119K |
Success Story #2 Marc Washington
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