Chicago 203k FHA Contractors

[Eric La Pratt]

Hey Chicagoland BP'ers!

I am under contract for a 4 flat in the city and would like some recommendations on a FHA 203k approved contractor to bid on my project, slated to begin early January. Any recommendations?

Thanks!

[Steven Gesis]

Originally posted by @Eric La Pratt:

Hey Chicagoland BP'ers!

I am under contract for a 4 flat in the city and would like some recommendations on a FHA 203k approved contractor to bid on my project, slated to begin early January. Any recommendations?

Thanks!

 Hi Eric-

I know I am not in your immediate area, however, being well versed in this subject matter, I would suggest checking out 203kcontractors.com excellent resource, you should be able to lock down a competent and capable contractor to meet your renovation loan needs. The resource vets contractors and makes sure they are familiar with the administrative compete as well as reviewing financial to insure the contractor can sustain the project. You should be able to take advantage of the more sophisticated contractors economies of scale and understand of the process. I can assure you that you will have a much more favorable and reliable experience versus savings a couple bucks on a chuck & truck guy. Consider the magnitude and scale of your renovation, you will need someone who can meet your timeline constraints as well.

We operate a private construction renovation department, our team has been doing 203k and renovation loan construction for more than 5 years, we are certainly not only well versed but logistically prepared to meet the needs and timelines of these projects. Considering our immense  track record in the Cleveland, Ohio area and being the largest volume renovation loan contractor in our region, we deal with many clients who have experienced failures and required us to come in and complete, because the contractor was not capable of managing the administrative and financial burden these projects require.  While clients that begin the process with us and go A-Z, no matter the type of project, streamline/limited or full/standard have a smoother and fruitful experience and are able to enjoy the house they have worked with us to convert into a home.  If you ask a good experienced lender, they will tell you the same, the same holds true for well versed and experienced realtors in this space as well.

Finally an experienced 203k contractor will be able to get you processed and closed significantly faster, as they are equipped to handle the administrative burden set by the lender:

• Registration, Bonding & Permitting
• Proper Estimate Structure
• W-9
• Insurance & Workers Comp.
• EPA Certification
• Financial Capacity
• References & Past Performance
• ...... much more... varies by lender

Well hope that helps, I really encourage you to visit that resource and simply call/email. 

Good luck with your renovation! If you need any assistance please feel free to inbox me.