Residential, Multi-Unit, and Commercial Rehabs
Your real estate investment success can quickly be derailed by costly or unnecessary repairs. At KCI Rehab & Remodeling, LLC, we take pride in evaluating repairs and only doing what’s needed. Since we invest in real estate, we understand the important components in evaluating investment property with an eye for a strong return on investment. Working with investors is second nature to us since we have been actively investing in real estate for 25 years. We bring a multi-dimensional approach to rehab or repair projects using our realtor, investor and contractor background. This is very valuable especially for new investors.
As a new investor, we can help you avoid the pitfalls of dealing with other contractors who lack the understanding of your investment property and may try to take advantage by cutting corners to make your project work temporarily. We are especially mindful of what really matters to you during a project – the value of your property and the impact of the rehab on resale – as well as the details that other contractors may overlook – the durability of materials, Section 8 guidelines and municipal violations, just to name a few.
How we service business owners
Most business owners don’t own the property that they are occupying, but lease space to house their business. These businesses could include a restaurant, beauty salon, barber shop, daycare, office, and retail space. We are very experienced in these working environments and understand that improvements are costs you will bear, not the landlord. We are unique and flexible contractors, accommodating unusual work hours, such as weekends, nights or early mornings. We will explore every opportunity to avoid disruption to your business.
If you are thinking of starting your own business, we can provide a feasibility or bank estimate for your Small Business Loan packet. With our multi-dimensional approach as Realtors and investors, we may discover that it’s best for you to own your space instead of rent. Whether your construction needs are minor repairs or total rehabbing, we have the experience and knowledge to get the job done right.
Do you participate in the FHA 203K and VA Renovation Loans?
Yes. The FHA 203K FHA Program is an excellent program offered by the Federal Government through FHA approved lenders to allow first times buyers to purchase a property and renovate the home all in one loan for only 3.5% down of total cost. We are certified through various lenders as general contractors to participate in both of the following two types of programs:
1. The Standard Consultant 203(k) Program begins with a feasibility study, overseen by an approved HUD consultant. Through this process, the FHA determines whether the improvements would be justified upon completion.
Along with the lender, the HUD consultant monitors the project’s progress and performs a final inspection upon completion. Escrow is then closed out, and the remainder is paid down against principal.
2. The Limited 203K Program is for smaller and less complex projects. The maximum amount for this loan program is $35,000.00 with no structural repairs. This version allows homeowners to use a certified contractor to complete the job.
3. The VA Renovation Program, also known as the VA rehabilitation loan, is a VA-guaranteed loan program that allows homebuyers to purchase a home and fund repairs and improvements. We are VA approved contractors and qualified to do these projects.
All renovation rehab loan program versions have a six-month deadline for completion, although there are extensions available when warranted. Please visit HUD’s website for more information and contact your lender to get pre-approved.
Although we participate in the program, it does require a much more extensive type of estimate. As a result, we provide an initial brief summary estimate to gauge your budget. If our price and service meet your budget, then we will provide a detailed estimate required by your lender. A detailed estimate is available for a $300 charge refundable to you if we are awarded the job.
PLEASE NOTE: No estimates are provided until the Hud Consultant has completed their estimate. We must have both the BOR and SOR reports unless the project is a Limited 203K project.