How FHA 203K Loans Let You Buy & Renovate Homes With One Mortgage | Real Estate Investing Strategy

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Show Summary

In this conversation, Timothy Redifer discusses his extensive experience in the real estate industry, focusing on home rehabilitation financing through programs like FHA 203K. He highlights the evolution of technology in real estate, the importance of building relationships, and effective marketing strategies in today’s digital age. Timothy emphasizes the significance of community support and networking in achieving success in the real estate business.

Resources and Links from this show:

• • • Investor Fuel Real Estate Mastermind
    • Investor Machine Real Estate Lead Generation
    • Mike on Facebook
    • Mike on Instagram
    • Mike on LinkedIn
    • Michigan Phone #: (248) 895-0054
    • Arizona Phone #: (480) 955-4787

  Listen to the Audio Version of this Episode

  Investor Fuel Show Transcript:

  Timothy Redifer (00:00)
  Well, all three of those, you know, perseverance is really one that you there’s a lot of, you know, starting at the beginning, cold calling is something that there’s a lot of hangups on it, discouragement. But when you get that, you know, one out of twenty five calls, it just hits perfect that you meet someone. So patience rolls in that you have to be patient. It will come. The really nice thing that I fall back on is that I can

  send it, expose them to a product that they’re not really familiar with. that’s, and once I can convince in my calls that I’m not a salesman, I’m not here to sell you anything, I’m just here to give you an opportunity. And I always use the words of going, I’m just offering you a tool in a toolbox. That’s it.

  Quentin Edmonds (02:20)
  Hello everyone. Welcome to the real estate pros podcast. I am your host Q Edmonds and listen, I’m excited to be here and I’m gonna tell you why I’m excited to be here because this gentleman has went above and beyond to make sure that he’s here with us today. And so I appreciate it. I appreciate him. I appreciate his time and this lets me know it’s going to be a good show. This gentleman has 30 years of experience. So listen, he’s not coming into this as a novice, what he’s going to talk about today.

  He knows what he’s talking about, right? And so I am so excited to introduce you all to Mr. Timothy Redifer Mr. Timothy, how you doing today, Absolutely, man. Glad to have you here. This is going to be a really, really great show. And as I told you, you are the expert for today. Nobody knows you like you. And so I’m excited that our audience get to look through your lens. And so, Mr. Timothy, I want to dive right in.

  Timothy Redifer (02:56)
  Doing good, thank you.

  Quentin Edmonds (03:15)
  I want you to tell the people what your main focus is these days. I would love a little origin story, man, of kind of how you got into what you’re doing. I would love to know that. And then where you are in the world, you know, we would love to know that too. So, Mrs. Timothy, you have the floor, Sir.

  Timothy Redifer (03:28)
  Well, thank you. you for having me. I guess where I started out was, you know, building was what I began with when I was a small child with my father. Once I went off to school, I turned around and focused on real estate appraisal and real estate sales and got a degree in it. Wasn’t real happy with it. Wasn’t really, didn’t really want to get into that. But then HUD contacted me 30 years ago and asked if we could give a, they needed a consult.

  And Sultan was really the middle man or the coach between a loan that they were offering and that’s the FHA 203K, the Fannie Mae Helmstile and the VA rehab. So started this business out, very big kickback on it because it’s a difficult loan. It needed somebody in the middle who could coordinate the mortgage company to the loan offer to the clients to the sales people.

  slowly evolved in it and really have learned a lot of it. The programs offer many different things. So, been here 30 years, did it in Michigan for 30 years and moved now to Arizona. So, I’m moving my company to Arizona. So, that’s where I kind of got started and really starting in on it in the electronic thing now.

  Quentin Edmonds (04:42)
  Yeah. Yeah. So tell me a little bit. Tell me a little bit about about your business, the name of your business, what it is that you do. Tell me a little bit more about it.

  Timothy Redifer (04:51)
  Yes, my name is the name of this home check. We’ve been we’ve been doing inspections in Michigan out in Arizona. I’m just a consultant out here. It’s a HUD consultant. do. ⁓ Kind of programs that some hard money programs where they call me in, but not as a consultant as a HUD consultant, but just as consultant. So many different avenues that kind of apply out here.

  Really the best way of getting a hold of me is either by a phone call or by my email address at tim at my company name home check 203k dot com.

  Quentin Edmonds (06:18)
  I love it man. I appreciate it. Thank you for telling me kind of where you how you started walking me through it Started off to Michigan moved to Arizona Listen, you went into building really was like, I don’t know real estate is really gonna pee but I want to do but I called you so you got the ball rolling and so mr. Timothy I have a saying where I say destiny has no wasted moments right now You’ve been doing this for 30 years. And so I know there has been things

  throughout your journey that kind of made you who you are now. And so I would love to know what has this journey taught you about yourself? Has it taught you perseverance? Has it taught you discipline, patience? Like what has this journey taught you about you, Mrs. Timothy?

  Timothy Redifer (07:03)
  Well, ⁓ all three of those, you know, perseverance is really one that you there’s a lot of, you know, starting at the beginning, cold calling is something that there’s a lot of hangups on it, discouragement. But when you get that, you know, one out of twenty five calls, it just hits perfect that you meet someone. So patience rolls in that you have to be patient. It will come. The really nice thing that I fall back on is that I can

  send it, expose them to a product that they’re not really familiar with. that’s, and once I can convince in my calls that I’m not a salesman, I’m not here to sell you anything, I’m just here to give you an opportunity. And I always use the words of going, I’m just offering you a tool in a toolbox. That’s it.

  It’s not something you’re going to use all the time, but boy, when you want to pull that out, because you run into somebody that’s happy with something, a home that they’re looking at, but

  it needs something made to our roof, you know, something made it. So we look for health, safety and code. You hear all that. Then you can do virtually anything. You can add on, take walls out, build a small barn out back. There’s just many things you can do with it. So the nice thing is once I convince the people of kind of where it’s at and what you can do, the calls go smoother, that they’re not kind of pressurized and thinking, they’re just going to look to get money out of my pocket. He’s going to get money out of my pocket.

  It’s not. It’s just something to expose them to an opportunity that works with your clients.

  Quentin Edmonds (08:39)
  I love it man. I love it. Thank you so much for Shannon and I love how you said that listen You just want to present a tool like this is this is a tool in the tool box that can help you and if anybody know anything about tools Having the right tool saves you a lot of time a lot of heartache a lot of pain And so I love how you use that analogy and I love how you present this as a tool Because if people really use this tool it’ll a it does save them a lot of heartache a lot of pain and a lot of time so

  I hear you. so 30 years, I’m pretty sure you have faced some adversity. And so I would love for you to tell me how does adversity look in your part of the world? Like, and how have you overcame adversity that you may have faced as you was building your business?

  Timothy Redifer (09:25)
  And you know, the adversity was getting the exposure in Michigan. now it’s, you know, that’s kind of what I learned when I, 30 years ago, starting in Michigan is that’s what I’m kind of getting here in Arizona. Starting again, the adversity is getting the name out, getting that tool out to everyone, finding the people and the contacts kind of thing. So that’s kind of the tough part now, just putting all the eggs in a basket here and just going for it.

  learned that this is a good product, it works, there’s many different tools in this, it can be multi-family tool. I four units live out of one rent three out, you can do commercial space where 51 % is commercial, 51 % is residential, maybe a storefront on the bottom, you’re in a town, got a couple apartments up top, you can do this on this loan. So there’s many different ways that you can use the loan and it’s the exposure.

  Really getting the word out. Now it is, this is the way to get the word out, is to get in front of people.

  Quentin Edmonds (11:03)
  Absolutely not totally agree. So let me ask you this. What is the next real goal for you? Like what are you looking to solve a scale next?

  Timothy Redifer (11:12)
  ⁓ it really is the getting my videos out, getting my little snippets out kind of thing, getting exposure of the way that, you know, people are getting that nobody goes to the like the old timers and know the yellow pages. ⁓ good God, nobody, you know, now nobody goes to yellow page. So it’s, it’s really catching up with the times, getting up at the time using the social media to get your word out kind of thing. So that’s kind of my goal right there is to.

  Start really getting this going that way.

  Quentin Edmonds (11:44)
  Absolutely. No, love it. Thank you for sharing now. Listen 30 years in the game I’m gonna ask you about something that I know you know is important and I’m gonna get your perspective on it Relationship building so like relationships within business ⁓ How does it work for you? Does it serve you? Well, isn’t important to you? What’s your style when it comes to building relationships? This is Timothy talk to me a little bit about relationship building within business

  Timothy Redifer (12:12)
  That’s the part of the cold calling is they’re building that relation getting that first opening to just speak I’d like to tell them hey, let’s let’s meet next week for a cup of coffee I’ll buy the cup of coffee and I usually follow it up with you Give me ten minutes. If you don’t like it within three, you got a free cup of coffee I will do you respect your time that if it’s nothing that you’re interested in it all well, then we can at least meet and just talk and kind of thing so

  It’s following up. It’s really just, you know, sending out an email, even if you’re just sending, know, happy Valentine’s Day. I hope you have a good Valentine’s Day. No business, no nothing. Just reach out, touch word, put, you know, kind of my company in their head. The next time that they hear, oh, 203K, oh, that Redifer, I remember he just sent me a Valentine thing. You know, that’s what I’m looking for is to expose that, to get that moving with the relationships I have.

  And it really is just reaching out and touching every once in a while. Just heads up, hey, here’s something new, saw something here you might be interested in kind of thing. So I try to touch base with people continuously. That’s where my business is.

  Quentin Edmonds (13:29)
  Yeah, I love it. I absolutely love it. Well, listen, Mr. Timothy, is there any topic that I did not bring up that you would like to talk about? Or in is there any other words of motivation, inspiration or education you want to lead to our listeners? If there is, I would love to know,

  Timothy Redifer (13:50)
  You know, I, I, could, if you’d like, I will put my phone number in. Here’s one of the things I do enjoy is I’ll take phone calls. If people want to talk to me and pick my mind a bit, you know, that kind of thing, and just, just have a question. I have no problem with that. I like people that reach out to me that if I can, ⁓ at least get them on the right path, maybe that they even tell them, maybe this isn’t the one for you that’s going to take that. No problem with that.

  that if people want to reach out, will give my expertise. have no problem with that.

  Quentin Edmonds (14:25)
  Yeah, I love it. Hey man, tell me about your logo. How did the logo come into place? I love your logo. It looks clean. It looks good. Tell me about the logo, man. I love that.

  Timothy Redifer (14:34)
  30 years ago, that was the beginning that I had to figure out something of what I wanted my logo to be and just happened to come up with this type of logo that kind of an inspiration of what the milk jug that had the check on it, the kind of thing that they used to have. So I incorporated it into it and it’s been around forever.

  Quentin Edmonds (15:38)
  I love it. It’s clean. And you said 30 years ago. mean, that seemed like something that you might have thought of yesterday. I mean, that’s clean. That’s pristine. And I love it. I think it shines a really good light. It’s a really good visual of what home check is. And so it looks good. I’m excited about what you’re doing. Excited about your business. Listen, you’ve mentioned your number before, but I want to do it again. If people wanted to reach out to you, connect with you, collaborate with you.

  Mr. Timothy, how did they get in contact with you,

  Timothy Redifer (16:10)
  How you get in contact me? one of the two points that you could, I have two phones. I have a Michigan phone, which would be the 248-895-0054. I also have a Arizona number is at 480-955-4787. But one of the other ways would be even home check at 203k.com is a great way to get ahold of it. That way I could get that every time I sit in front of the computer, I could pop it on.

  See what maybe somebody has want something I can get right back to them. Not a problem.

  Quentin Edmonds (16:43)
  Got it. Well, listen, Mr. Timothy, I want to say three things to you. First, I want to thank you for your time because time is very precious. So thank you for your time. Secondly, thank you for your story. Thank you for sharing with us because your story is impacting people. So thank you for that. And lastly, thank you for your perspective. Thank you for your mindset and coming on this podcast and sharing your mindset, the way you think about things. I greatly appreciate you, Absolutely.

  Timothy Redifer (17:09)
  Thank you

  Quentin Edmonds (17:11)
  Well, listen, y’all heard Mr. Timothy. You got the value. Look in his show notes, get in contact with him. Listen, he’s trying to make his mark in Arizona, just like he made in Michigan. So listen, y’all get in contact with him, collaborate with him. And then also definitely make sure you are subscribed here because we’re going to continue to bring up amazing people just like Mr. Timothy. So sir, just want to say thank you again. And everyone else, we’ll see you in the next time.

  Timothy Redifer (17:38)
  Thank you.