The Dawes Drive Project | FHA 203K Renovation Loan Story | James Hair NMLS #1680348
The Dawes Drive Project · Denham Springs, Louisiana · FHA 203K

Coming Home —
My 203K Loan Story.

Commission income. 51% DTI. $222,500 purchase price. $12,500 in seller concessions. 53 days from offer to keys. This is what a 203K loan looks like in real life.

705 Dawes Drive Denham Springs Louisiana 203K Renovation
705 Dawes Drive · Denham Springs, LA
The Story

I Grew Up in Baton Rouge. Katrina Took Me Away. A 203K Brought Me Back.

Hurricane Katrina displaced my family to Mississippi in 2005. I built my career there and in Missouri — and spent years as a renter, even as a loan officer who knew exactly which programs could get me into a home.

In 2026 I finally used them. I found 705 Dawes Drive in Denham Springs — a property that needed work, had a detached structure, an in-ground pool, and the bones of something great. I submitted an offer. We negotiated $12,500 in seller concessions. And 53 days later I had keys.

Commission income. 51% DTI. One year in my current role. The exact file profile most lenders would have turned away. I closed it — and I'm documenting every step of the renovation so buyers can see what a 203K loan actually looks like from the inside.

"I am a borrower, a homeowner, an investor, and your loan officer. I am not selling you something I haven't done myself."

The Numbers

By the Numbers — The Actual File

53
Days — Offer to Keys
51%
Debt-to-Income Ratio
$222,500
Purchase Price
$12,500
Seller Concessions
4BR/3BA
After Renovation
Commission
Income Type
Renovation Scope

What We're Building at Dawes Drive

This is a full renovation — not a cosmetic refresh. The 203K Limited financed the non-structural work. Here's what's in scope:

4BR/3BA Conversion — reconfiguring the floor plan to maximize bedroom and bathroom count for short-term rental appeal.
Detached ADU — the detached structure is being converted into an accessory dwelling unit for additional rental income or guest space.
In-Ground Pool — existing pool being restored and updated as a key amenity for short-term rental guests.
Full Interior Update — kitchen, bathrooms, flooring, paint, fixtures — everything a short-term rental guest expects to see.
The Dawes Cottage — the finished property will operate as a short-term rental. Following the renovation I'll be documenting the Airbnb launch as well.
DSCR Refinance Path — once the rental is established and generating income the plan is a DSCR cash-out refinance to fund the next acquisition.
Why I'm Sharing This

Because Most Buyers Don't Know This Is Possible.

I've told buyers about the 203K loan for years. I've explained the process, walked through the numbers, described the contractor bid requirements. But there's a difference between explaining a program and showing someone your actual closing disclosure.

Commission income qualifies. 51% DTI qualifies. One year in a role qualifies. A property with a detached structure and a pool qualifies. The buyers who need to hear this most are the ones who've already been told no — or who assume they can't qualify based on something someone said once.

Dawes Drive is proof. Follow along on TikTok for renovation updates, short-term rental launch content, and the full financial picture.

Project Timeline

From Offer to Short-Term Rental

1
Offer SubmittedFound 705 Dawes Drive. Submitted offer with seller concession request. Negotiated $12,500 back at closing.
2
203K Application & Contractor BidsApplied for FHA 203K Limited. Got two contractor bids with detailed scope of work. Submitted the full renovation package to underwriting.
3
Closing — Day 53One closing. Renovation funds escrowed. Keys in hand 53 days after the offer was submitted.
4
Renovation In ProgressContractor draws being released as work is completed. Full renovation scope underway — 4BR/3BA conversion, ADU, pool restoration, interior update.
5
The Dawes Cottage Launch — Coming SoonShort-term rental launch on Airbnb. Following the data on income, occupancy, and returns — then the DSCR refi to scale.

Found a Home That Needs Work? Let's Talk.

Send me the address and I'll tell you whether it's a 203K candidate. Soft pull only — no credit impact.

Talk to James
James Hair
James Hair
Senior Loan Originator · First Option Mortgage · NMLS #1680348
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