203K Loans and Baton Rouge Area

[Chad Mayo]

I have purchased and renovated 3 SFR's over the past year. Two are buy and holds in my LLC and the other is about to be listed for sale. My question is related to my primary residence and the local area.

I am potentially going to list my primary residence for sale and interested in buying a fixer upper as a live-in. Does anyone have experience with 203K? Any recommendations on lenders and GC’s? I’m also open to other funding options.

[Joseph L.]

@Chad Mayo I have experience with 203k loans. The most important advice I can give you is to use someone who has experience with the process. Dealing with an inexperienced company can cost you a lot of money and heartache.

It’s been quite a few years since I’ve used a 203k loan. See if you can find someone by the name of Chris Draper in Louisiana. He’s the most knowledgeable guy on 203ks and gave me great advice over the years. He may or may not still be involved with 203k but can definitely get you on the right track.

Good luck!

Joseph