Products
The Home Inspector’s Guide to 203(k) Consulting
Education & Training Program
Basic Knowledge is a detailed video explaining prerequisite information and basic knowledge by addressing the following:
What does a Consultant Do?, Major differences between what a Home Inspector does vs. a HUD Consultant, The Department (HUD) & Regulation, FHA Single Family Housing Policy Handbook/HUD Guidelines, Consultant Liabilities, Consultant Priorities & Advocacy, Continuing Education Focus Groups, Loan Types, Lender Participants, What is Feasibility?, Definitions, Minimum Property Standards, Software Choices, Consultant Fees, and Additional Services & Skills
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6 Educational Module videos Include:
Module 1: (see Basic Knowledge description above)
Module 2: Introductions and Expectations, Your professional Resume and the role of the HUD Consultant; Chronology of events; Buyer and Realtor Expectations, Buyers responsibilities for empowerment; Consultants Responsibilities, Fee Ranges from guidelines, New Contacts Sheet questions with Buyers brief explanation of repairs, Contractor Requirements, Method used for estimating, Your Reporting and activity Status, Scheduling a Site Visit/Timeline to complete, Fees and Services, Confirmation
Module 3: Initial Site Visit, Feasibility through Consultant Inspection, Consultants Preliminary Assessment of Materials & Costs, Recommendations, Performance Standards, Contractor Instructions, Consultant Inspection, Construction Assessment,
What’s Next?
Module 4: The Work Write Up, Knowing the 35 Categories; Separation of Work Items accordingly, Components of a Work Write Up, Additional Inspection requirements, Allowable Fees, Contingency Reserve, Permits and Certifications, Defaults and Work Items, Distribution of Work Items in applicable Categories w/ Descriptions, Locations and specificity of Comments for repairs, Recap of Subtotals, Architectural Exhibits, Contractor Bids, Appraisal/Underwriter Comment & Inclusions, Report Overlays, Line Item Checklist/Sending your Report
Module 5: Draw Inspections, Selecting the Fee Inspector, What is a Draw Inspection?, Providing instructions to the parties, Overlay Adjuncts, Multiple Contractors (3); What’s the process?, Permits, Material Payments, Self-Help, Plan Review, Irregularities; When to contact the lender, Compliance Inspections, Dry Draw Inspection, Exit Draw; Termination or Withdrawal, Pay Down on Principal Balance Inspections, Contingency Reserve Reconciliation, Change Orders; Health & Safety, Desired and Administrative, Additional Services and Fees, Conflict Resolution, Contractor Termination
Module 6: Circumstances, Recusing Yourself or replacement as Consultant, Consultant Termination, Arbitration, Specification Triage; closing out a project
6 Fundamentals videos include:
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- Detailed training on how to determine if repair items are Mandatory, Recommended, or Desired
- Change Order types and preparation
- Draw Requests
- Eliminating your risk
- Instructions for Buyers & Contractors
- How to evaluate draw amounts and remaining funds
Also included are downloadable Microsoft Word versions of the Modules & Fundamentals videos.
Reduces your learning curve by 70%! In-depth training on how to build your program for effective estimating.
TRAINING VIDEOS INCLUDE:
Loading Pricing Defaults;
- Pricing defaults in Excel format;
- Objective pricing defaults; project accuracy
- Purpose behind multiple default and redundancy
- Unit prices for single mobilizations and hourly rates
- Completed operations in a single mobilization
- Acceptable price range management; variations in quality
- Margin and overhead for contractors; acceptable percentage ranges
- Variations in square footage prices depending on size, difficulty
- The necessity for quantities and lump sum estimates
The 35 HUD Categories;
- Specificity of the 35 categories; vs commercial construction
- The importance of miscellaneous; general conditions
- Purposeful defaults emulating commercial construction
- Common statements within categories; 203k Consulting Pros
- Category specifications for work items and materials
- The elimination of specificity in combination with general conditions/codes
- Codes and commercial general conditions vs ambiguity and line item detail
- Conversion from commercial construction specifications to FHA format
The Method of Estimating;
- Exponential minimizing or increasing construction costs vs volume
- Necessity of specific budgets for material or equivalent
- Manufacturer’s specification choices; match existing component
- Additional and consistent standardized work item narratives
- The method of estimating; chronological order
- The use of notes and corrections vs repair items
- Value engineering and functionality methods
Using Comments & Defaults;
- Mandatory, Recommended and Desired; when/how to use
- The purpose for separation between rough and trim
- Descriptive comments in combination with work item detail
- The use of pull downs and templates; augmenting software
Estimating Techniques;
- Frontloading and disparity with contractors bid
- Reconciling contractor bids vs your cost estimate
- Extrapolating from contractor bids to cost estimate; variations
- Augmenting low bids with increasing contingency reserve
- Necessity for bid forms to qualify contractor bids when required
- Balancing mandatory, recommended and desired for future consideration,
- The maintenance of sufficient funds to complete the project
Risk Management & Exhibits;
- The value of disclaimers and risk management
- The value of architectural exhibits in estimating; contract documents
- Condition report combined with cost estimate; corroborating documents
Also Includes the following:
- 860 pull-down Construction narratives for the 35 categories
- Tutorials Books – 2 Microsoft Word versions of the entire set of Tutorial videos
- Templates Book – Customziable Word template including custom forms and communications,
- Custom Excel Templates: including Master Individual Draw Template, Master Project Tracker, and Bid Comparison Workbook
- Mentoring/Support – Mentoring includes: Assistance in setting up your software for the purpose of implementing training and templates; Assistance with creating three (3) projects through completion with personal recommendations and detailed review; Also includes sequential draw process to completion for one project, including all close out documents, change orders, and material draws; Unlimited access to the 203k Consulting Pros Facebook Group forum.
- 203k Consulting Pros Recognition – Subscribers of the Home Inspector’s Guide to 203k Consulting are entitled use of our trademarked logo to identify themselves as industry professionals.