5 Genesis System Training Part 5 Entering Data into Feasibility Report

Hello and welcome to Training and Learning how to Use Genesys. This is Kathryn hall, creator of the Genesys System as well as the 203k in a box FHA consultant training and Marketing system. And welcome to this video on how to create a feasibility study. These training videos are designed to be small snippets to help you be able to get started your genesis process. For more in depth training and information, please look on the website www.napac.org for an upcoming training live workshop. In this video I'm going to explain and teach and have you observe how to enter data to complete a feasibility study.

In previous videos I've already described how to log in to your system.

I'm using my local company to enter the information.

Once I log in, I can access my project by simply going to the Projects bar.

Or by clicking the Active Projects tab and go to the ones that Pending completion of the preliminary work write up.

I'm in the process of completing this one here, so now I'm going to go to Feasibility.

The term feasibility and preliminary work write up are interchangeable and based upon the upgrades to HUD's 4000.1 information for 203K consulting, we have redefined the terminology.

So as you can see, I have already completed all the necessary steps to complete the preliminary work write up package. However, at this point I'm going back and entering more data into the construction cost estimate. This can be done so long as you do not hit the sign the PDF document and generate feasibility report buttons. You can continue to go back repeatedly and make changes.

This specific training is exclusively on entering data into the construction cost estimate portion of your feasibility study. So as you can see I've entered a lot of data into this field and I'm going to continue at this point. Now.

You can select an item that you have added onto your local website or you can use one of the default items that has been included within your program. In Genesys.

You have options on either side but you can only select one.

So I'm choosing the one that I've added on my company side.

So there is the repair item. The location is.

All areas because I'm going to be more specific over here under specific repair details.

Indicating that this is a mandatory repair and who is performing it is the contractor.

So I'm typing in here provide and install.

And I'm going to basically put in.

From my notes.

Provide install hollow core.

Shaker style.

Doors with single knob lock set.

At rooms where missing. I can't spell rooms.

And so the rooms that need new doors are the.

Main bed, rear bedroom.

Which is bedroom number three.

Callback.

And.

So we're going to say provide and install hollow core shaker style. Those are single at rooms where missing or damaged.

We're going to make it even more specific by saying entry.

Doors to be very specific. So we're putting one at the rear bedroom and the bathroom.

And those are the only two that are mandatory.

Okay. And so we're going to put down as a contractor as, excuse me, consultant entering a preliminary feasibility analysis. You are not required to put any labor numbers. All you are required is to put the material lump sum number. The contractor when he submits his bid will be required to enter both material and labor. So because this is a simple now for this situation here, I want to show you something that you only have a small amount of characters available in this specific repair detailed description. You are able to add more detail in the general category description. So here I'm going to just basically put this here and I'm going to go down here and it's each and I'm going to put a cost of $160 per door. So it's one, the quantity is two and it's $160 per door. So the total cost for this mandatory repair.

$320. And I do want to add another item. So I hit yes and then I hit submit.

So now it says the repair item has been submitted and now I can add more.

Now I want to create a new line. I want to add the same line item.

And I'm going to put this in second floor.

This is desired by homeowner and it is going to be completed by contractor.

Replace doors to bedrooms.

With new shaker style.

Doors and lock set and single lock set knob lock set.

So now why am I putting this now not to give too much specifics about the functionality of an FHA consultant and how to describe the work you are entering. I want to explain that I'm putting this as a desired option because there were doors in the second floor that were functional. But the borrower had described during the consultation appointment that they had wanted to make the doors match.

So we're going to say each and so we're going to add this to.

This is going to be the front bedrooms.

So that is two more doors.

And it's also 160 in there. I'm going to put this. I'm not adding any more items so I'm going to hit submit.

But now that I have hit no more items it's taken me back to the page where I just left. So now if I have any more information I want to enter in the general category or to describe what the permits are, I just view the category and then here I can create an additional category description. This box will appear at the bottom of the section. So I'm going to put cost allowance for shaker style doors.

We're going to say $85.

Brushed nickel.

Knobs, lock set.

$35.

And there's no permit for putting it into your door. So as you can see, here are the items that I just described. There you see the specific repairs. And then I'm going to hit submit the total cost of this project. This category with a mandatory and desired option. And now I hit submit.

And then I get to show if I want to see what I've written there I can show it and there's the information. Or I can hide this.

Now I can go back to my construction cost estimate and that number is now entered.

So there's the total cost of the project.

Should I have a requirement to include a tax margin? I can enter the tax margin here for all of the material items for the entire project by clicking this button here.

And it gives you an option to let you know that if you're looking to edit the tax rate on this project, press OK to confirm. Press cancel to exit.

So I could enter a tax margin that will be applied to all the line items on the project.

And I can make it, I can go, I can remove that as I need to. So I'm going to return back to the feasibility list.

And that concludes entering information into your construction cost estimate.

So if I previewed this report.

Now you see the preliminary 203k report for the project.

And here you can see all the line items that I had already entered prior to this recorded training.

And I'll make it larger so you can see it more detail.

There's a total for the category, there's the line items.

There'S a description, there's the category details.

Here is the windows and here's my door interior section that you observed me install. When you are creating a line item, make sure you're carefully describing what the repair classification is, because that will be used at the end of the report to create your classification breakdown. And so here you're looking at the report and you're seeing all the line items that are listed on my report as mandatory. And there you see that mandatory repair item of interior doors. And then further down you'll see the line item for interior doors, that is desired.

Everything is then included in a breakdown of all the repair classifications. Mandatory, recommended, desired and totals.

Plus the 15% contingency, which totals everything up for the project. And in another training, you'll observe how to enter photos.

This concludes the training on entering data into your Genesys 203K system for your feasibility reporting. Thank you. And I look forward to seeing you on a future training video.