In this episode, I talk to Jay Sills with Barrett Financial Group, LLC about the benefits of FHA 203k rehab loans, which allow up to $75,000 in non-structural repairs. He details a recent case in Guston, Kentucky, where a home purchased for $200,000 required $38,000 in repairs, financed through a 203k loan. The home's value is expected to increase to $290,000, yielding a 724.3% return on investment. Jay emphasizes the importance of using a licensed contractor and the potential for significant equity and return on investment. He contrasts rehab loans with construction loans, highlighting the latter's complexity and longer timelines.

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Disclosure: Jay Sills is my brother and the person who inspired this podcast. If you connect with him through Someone Had to Ask and close a loan with Barrett Financial Group, I may receive a referral fee. The topics we cover and the questions I ask are not shaped by that arrangement — my only goal is that you walk away better equipped to ask better questions.

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Music: "Easy Lemon (60 second)" Kevin MacLeod (incompetech.com) Licensed under Creative Commons: By Attribution 4.0 Licensehttp://creativecommons.org/licenses/by/4.0/

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