Homestyle and 203k and sweat equity.

[Brentin Trent]

I am considering a homestyle loan in order to allow me to rehab a property without coming up with not just the rehab cash, but also the purchase price. I'll be putting only 20% down.

I Understand that I will be able to finance the purchase and rehab costs. Everything that I have read about these loan programs suggests there is a requirment to hire a licensed GC to do all work.

I really want to earn some sweet equity, and want to know what my options are. Does anyone have experience doing this? I want to do the work myself whenever possible. Is it feasible to do work myself and then have a licensed contractor "sign off" in it?

Also, I assume the bank will have me get the GC scope of work. Do I have to stick exactly with the SOW. Do I have to stick with that GC?

Thanks in advance for any info.

-Brian