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  • staging a rental property - atl hard money
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    Should You Stage an Investment Property if You’re Going to Rent It Out?

Should You Stage an Investment Property if You’re Going to Rent It Out?

If you’re renting out an investment property after buying and improving it, you may want to stage it… because staging it could help you fetch a higher monthly rental price.
Staging a Rental Property
You’ll have to weigh the costs and benefits of staging a property that was empty. You certainly have to make sure it’s spotless (no scuffs on the floors, dings in the walls, or cobwebs in the corner) and clutter-free, but the logistics of staging a rental property may mean it’s not worth the effort.

Remember that you’ll have to find suitable furniture and then:

Move in furniture yourself (or pay someone to move it in)
Decorate the walls, which results in more work when you have to take down the decor and patch up nail holes (although Command Strips are definitely a worthy investment)
Move the furniture out before your tenants move in

If you were selling the property rather than renting it out, it might make a little more sense to stage it – you’d be asking people to make a bigger investment, so you’d have wiggle room to put in more money and effort.
Do You Need a Hard Money Loan to Buy an Investment Property?
Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or construction, the loan amount can be based on the collateral’s improved value.

Read our frequently asked questions and take a few minutes to learn about the hard money loan process.

Apps for Homebuyers

If you’re getting ready to buy a house, you may be wondering where to start. With advancements in technology, you won’t have to look much further than your phone. Mobile technology can help you find a knowledgeable Realtor®, calculate a budget, connect you to the Multiple Listing Service, and much more. Here are some useful apps for homebuyers.

Finding an Agent

The home buying process can be daunting at times. It’s a good idea to work with a qualified Realtor who can help you through the process. Most real estate professionals are referred by previous customers; however, they’ve changed the game in their marketing, and are now easier to reach than ever.

If you’re house hunting and driving by for sale signs, you’ll probably see the agent’s link to their website, or a text code to their own mobile app. You’ll find other apps, like Yelp, that will give you easy access to agent reviews.

Mortgage Calculator

Before you set out, you can find current mortgage rates, and get an estimate of how much home you can afford. Companies such as Bankrate and Quicken loans offer apps that can get you real-time information at just the touch of a button.

Multiple Listing Service (MLS)

You can get the most current listings with an MLS app. While there are many out there, technology is changing the way you can connect with your Realtor and get up-to-date information. Apps such as Homesnap allow you to search for information on a home—just by snapping a photo of it. It also allows you to interact with your agent without using multiple channels of communication.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check […]

Buying a Foreclosure With Tenants

Purchasing a foreclosed home can be a great investment opportunity. Whether you’re taking occupancy yourself, or leasing the home to tenants, you’ll most likely see some gains from your purchase. But, what if the foreclosure already has renters taking up residence?

If you’re considering purchasing a foreclosure with tenants, you’ll first need to decide whether you’re going to live there, or continue renting it. Depending on the location of the home, there may be some state and local laws in place that will determine how you proceed. If there is a lease, tenants may be protected in a foreclosure situation.

Currently, Georgia allows renters to be immediately evicted, whether you’ll occupy the home or not. Some other states afford grace periods depending on how the property will be used. If you’re outside of Georgia, and there is an established lease, you may have to continue the terms until the lease expires. If the tenant is in a month-to-month situation, you may also have to give certain notice to vacate.

In most cases, the current tenant has been abiding by their lease and paying their rent, so they’re probably under the assumption that the bills are being paid. Unfortunately, the tenant becomes a victim in these matters, and finds out too late.

It may be a good idea to give notice to the tenant, especially if they’ve been following the lease terms. Angry tenants can set your goals back by possibly damaging the property, filing lawsuits, or even refusing to leave. Protect yourself by carefully following the eviction laws for your state.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan […]

Critical Areas to Inspect When Buying a House

If you’re like most people, your emotions sometimes cloud your judgement. While there’s nothing wrong with that in most cases, you can’t let your emotions get in the way when you’re a real estate investor.

There are some critical areas of a property that you’ll need to inspect—sometimes twice—to make sure you’re not falling into a money pit. Even if your inspection gets the green light, you may want to call a specialist for a second opinion. Here are some areas that could use a more thorough inspection:
Foundation
A home inspector will search for visible signs of foundation problems. They’ll check for cracks, deformations, and uniform settlement. If you suspect any problems, or if the inspection shows some areas of concern—you may want to get a second opinion. Spending some additional money on a licensed structural engineer, prior to buying the home, could save you time and money.
Heating, Ventilation, and Air Conditioning (HVAC)
The HVAC system in a home usually undergoes an unremarkable inspection during the home buying process. The equipment is investigated for the potential to heat or cool a home, but there’s usually a lot more to it. For an in-depth inspection that will tell you how the equipment is functioning, you may want to call an HVAC expert to do a check-up.
Plumbing
There is nothing taken for granted more than a home’s plumbing system. If the water comes from the faucets, and the toilets flush; it’s easy to assume that everything is in working order. It may be a good idea to have the home’s main septic line inspected by a professional plumber before you purchase a home. A plumbing pro can perform a more thorough inspection than a home inspector.

Do You Need a Hard […]

What is Working Capital?

Working capital, at least as it pertains to the real estate investing business, is money that you can use to fund improvements on an investment property.
Why People Choose Hard Money Loans for Working Capital
Because a hard money lender can provide working capital quickly, many people choose this route when investing in a property in Florida, Tennessee, and Georgia.
How Do You Calculate Working Capital?
Working capital is your current assets minus your current liabilities. For example, if you have $200,000 in assets but $195,000 in current liabilities, you have $5,000 in working capital.
How A Hard Money Loan Can Help You
When you borrow from a hard money lender, you get up to 65 percent of the home’s after-repaired value, or ARV. That means if you’re flipping a home that, when repaired, will be worth $100,000, you can borrow up to $65,000 to work on it.

Do You Need a Hard Money Loan in Atlanta, Nashville, or Florida?

If you’re an investor who needs a hard money loan, we may be able to help you. Check out our loan criteria to find out whether this type of financing is right for you, and be sure to explore our hard money loan FAQs.

You can apply for a hard money loan online or you can contact us at 404-814-1644.

 

 

What’s a Bridge Loan?

A bridge loan may be what you need until you secure permanent financing – but what is it, and how could it help you?
What is a Bridge Loan?
A bridge loan is a short-term loan that you can use to bridge the gap between securing permanent financing or to remove an existing loan obligation that you already have.

This type of loan provides immediate cash flow.
How Long Does a Bridge Loan Last?
A bridge loan is typically very short-term. (Sometimes they last about 12 months.)
How Do You “Secure” a Bridge Loan?
Typically, bridge loans are secure debts – and they’re secured by a form of collateral. That means your house or another asset serves as collateral so you can borrow using a bridge loan.
Do You Need a Hard Money Loan in Atlanta, Nashville, or Florida?
If you’re an investor who needs a hard money loan, we may be able to help you. Check out our loan criteria to find out whether this type of financing is right for you, and be sure to explore our hard money loan FAQs.

You can apply for a hard money loan online or you can contact us at 404-814-1644.

 

  • What to Ask Sellers if You're Not Using a Realtor
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    5 Questions to Ask Sellers if You’re Not Working With a Realtor(R)

5 Questions to Ask Sellers if You’re Not Working With a Realtor(R)

Most real estate investors choose to work with a Realtor® who handles the negotiation process for them. However, if you’re one of the REIs who likes to call sellers and establish a relationship without using a real estate agent, here are five questions you need to ask property owners to begin negotiations.
5 Questions to Ask Sellers

How long have you lived in the home? This is generally just a good icebreaker.
How do you like this neighborhood? This is a great way to get a better feel for the community, and it’s another way to encourage the seller to give you information.
What do you like most about this home? This is a great question to ask if you want to start formulating selling points for later – and it can also help you determine whether the home will be a good fit for your investing needs.
What types of repairs will be necessary if I purchase this home? Naturally, you’ll have a home inspector come out and evaluate what needs to be done – but it’s a good idea to get the information straight from the horse’s mouth, so to speak, if you’re thinking about purchasing a property as an investment.
How quickly do you want to sell? In addition to creating your own timeline of events, knowing how motivated the seller is will help you determine the type of financing you’ll need.

Do You Need a Hard Money Loan in Atlanta?
If you’re an investor who needs a hard money loan in or around Atlanta, we may be able to help you. Check out our loan criteria to find out whether this type of financing is right for you, and be sure to explore our hard money loan FAQs.

You can […]

  • Land Contract vs. Land Trust - Atlanta Hard Money Lenders
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    What’s the Difference Between a Land Contract and a Land Trust?

What’s the Difference Between a Land Contract and a Land Trust?

While the terms land contract and land trust sound similar, they mean two completely different things. One of the main differences is how each of these agreements are used — and as a real estate investor, it’s in your best interest to know what sets them apart.
What is a Land Contract?
A land contract, which is also called a contract for deed or an installment land contract, is a financing tool that lets the seller and buyer agree upon a property’s sale using installment payments.

Some REIs choose to sell their investment properties under land contract.

If you choose to sell a property under land contract, you’re not the landlord of the property. The buyer will pay you monthly payments toward the total balance of the house’s value. In some cases, buyers pay down on the home while improving their credit scores enough to qualify for a conventional mortgage; at that point, you — the seller — will get a lump sum payment from the buyer’s lending institution.
What is a Land Trust?
A land trust is a revocable, living trust that many people use for privacy. It has nothing to do with the way land is bought and sold, but it can complement a land contract transaction to ensure privacy and discretion.
Do You Need a Lawyer for a Land Contract or Land Trust?
It’s nearly always a good idea to involve an attorney when you’re drawing up legally binding contracts. The laws surrounding real estate transactions can become complicated, so it’s important to have a talented lawyer on your real estate investing team.
Are You Looking for Financing for an Investment Property in Atlanta?
If you’re an investor who needs a hard money loan in or around Atlanta, we may be […]

  • Signs You Shouldn't Buy an Investment Property - Paces Funding, Atlanta Hard Money
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    Know When to Hold ‘Em… Signs You Shouldn’t Buy an Investment Property

Know When to Hold ‘Em… Signs You Shouldn’t Buy an Investment Property

As a real estate investor, you know how important it is to make each property an exceptional purchase. However, there are some properties that you should just pass on, no matter how eager you are to make a flip. Here are some red flags for property showings that should signal for you to move on to the next deal.

Wood rot. Examine the property thoroughly for signs of rotten wood. Wooden decks and floors surrounding tubs, toilets and sinks should be inspected. If you find signs of rot on the outside, there’s a good chance that behind the wall is even worse. Your home inspector will be able to point out specifics if you didn’t catch them when you first looked at the property (and this is yet another reason it’s so important to have a talented inspector on your team).
Inadequate repairs. A house with a long history is more likely to have amateur repairs. Sometimes the repairs are not up to code, especially when it comes to plumbing or electrical jobs, which means they should be fixed by a professional to prevent additional damage.
Old building materials. Aside from potentially being structurally unsafe, older building materials may contain lead, radon, or even dangerous levels of asbestos. Be sure to have the home tested for dangerous materials before you make a final decision to buy.
Roofing woes. Sometimes a house can look terrific everywhere but up top. Be sure to inspect the roof of any prospective property for holes, leaks, and weathered shingles that need to be replaced. Take a look at the gutters and chimney while you are poking around up there, too. Your inspector will conduct a thorough check, but it’s a good idea to […]

  • leave playground equpiment at investment property - atl hard money
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    Should You Leave Playground Equipment at an Investment Property?

Should You Leave Playground Equipment at an Investment Property?

 

If you’re considering selling your home, you may be wondering if you should get rid of the swing set in the backyard. While a playset won’t necessarily hinder the sale of your home, you’ll want to make sure it’s in excellent condition.

The playground equipment may be an exciting amenity to a family with young children. If the neighborhood is bustling with kids, fix it up, make sure it’s structurally sound, and prepare to leave it.

At the same time, if everyone else on the block is at retirement age, a swing set may not be an excellent selling feature. Home buyers will have to think about removing the play set themselves, and it may sway their opinion of your home.

Believe it or not, play structures and basketball hoops have been a major reason for dispute between a home buyer and seller. In a home sale, there is often confusion about what stays and what goes.

A large play set can sometimes be considered a fixture or real property if it is attached to the ground. Some buyers plan for you to leave it; others hope it will be disassembled on closing day.

If you’re removing the structure, doing so before you even show the home is your best bet. If you’re not able to do so, make sure this condition is disclosed to all interested parties right away.
Do You Need a Hard Money Loan to Buy an Investment Property in Atlanta?
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

Call us at 404-814-1644 or contact us online to find out whether you might qualify for this type of funding. In the meantime, check to ensure that you meet our loan criteria. Our loan […]