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Home Water Treatment Systems: What REIs Need to Know

If you’re planning to turn a home into an investment property (you’ll be the landlord), you may want to give the water quality in your rental some special attention. In a time where local water supplies are being investigated in several municipalities, potential renters are making water safety a top priority when searching for homes. Installing a drinking water treatment system into your home can be a good investment (and it can give your renters with peace-of-mind).

When cleaning and staging your home, you may be focused on removing hard water stains from visible areas, which is good, but you need to take it a step further. It is highly probable that potential renters are turning the faucets on, letting them run, and even taking a drink.

There are many water maintenance systems that can be installed in a home to make water look and feel better, as well as safer. If the water in the home contains colors, odors, and sediment—a water softener will help—but it won’t remove bacteria or organic chemicals such as chlorine, pesticides and herbicides.  Here are some additional water treatment systems to consider when updating your home.
Ultraviolet Water Purification
Using UV light, this type of system disinfects water to reduce bacteria and viruses. It is important to note that it does not remove chemicals from water. There are single faucet and whole house installations available.
Distillation Systems
Adding a distillation system to your home allows for safer drinking water by a vaporization, sterilization, and condensation process. This process removes heavy metals, chemicals and bacteria and are available in countertop or tank methods.
Reverse Osmosis
Reverse osmosis systems are available for whole home or countertop installation. They are effective at removing chemicals, bacteria and viruses.

If you’re looking for […]

  • Evicting a Tenant From a Real Estate Investment Property
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    Evicting a Tenant When You’re Renting an Investment Property

Evicting a Tenant When You’re Renting an Investment Property

Evicting a tenant is not something a landlord looks forward to. If you’re like most real estate investors, you’re going to be faced with the decision to evict a tenant at some point in your career.

Let’s face it: eviction is a hardship for both parties, but unfortunately, it can be something that needs to happen so you can continue running your business.
Georgia Laws on Eviction for REIs
Each state has its own laws regarding the eviction process. Because we’re in Georgia, we’ll focus on the dispossessory proceedings of the Georgia rental code.

You’ll find that Georgia is not greatly restrictive with eviction laws, and there’s not much of a timeline to follow.

If your tenant is late with his or her rent, you can provide the tenant with a demand for possession as early as the day after their rent is due. This notice does not have to be written, but for most people, it’s best to communicate with tenants in writing.
How Long Do You Need to Wait for Payment?
There’s also no requirement for how long you’ll need to wait to get your rental payment, or for the tenant to move out, before you file for an eviction hearing. You’ll want to be fair to your tenant, but you could file for an eviction lawsuit as soon as you feel it’s necessary.

After the request for eviction lawsuit is filed with the court, you’ll need to wait on an order from a judge to evict your tenant.

The order for possession will allow the tenant seven days to move or pay.

If the tenant pays, you must accept his or her payment.
Do You Need Hard Money for an Investment Property in Atlanta?
If you’re looking for a hard money loan in […]

A Word on Low-Maintenance Homes

As a hard money lender in Atlanta, we’ve discussed home improvement plans with hundreds of people – and one common theme seems to be emerging: people really want low-maintenance homes.

That’s something worth remembering if you’re flipping houses in Atlanta.
Why Do Today’s Buyers Want Low-Maintenance Homes?
“Most young homebuyers grew up watching their parents spend weekends with their honey-do lists, or they had chores to do on the weekends,” says Lou Cardillo, a NY real estate professional. “Most young buyers are not going to follow in their parents’ footsteps. They don’t want to do that stuff… They want their weekends to themselves and don’t really want to be cleaning gutters or cutting the grass.”

It makes sense – and couple that with the fact that many younger buyers prefer a turn-key home that’s ready right out of the gate, and you have a perfect understanding of why buyers prefer low-maintenance homes.

But this actually goes a little farther.

Low-maintenance means LED lightbulbs, smart devices, and other technology that makes life easier. No, you don’t have to go all-out (and you probably shouldn’t) on creating a smart home; it might not pay off when you sell. However, you should make the right investments in the right places – such as energy-efficient appliances (including those LED bulbs where possible) and low-maintenance fixtures.
Do You Need a Hard Money Loan in Atlanta?
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 out our loan criteria and read our frequently asked questions so you can learn a little more about the hard money lending process.

  • Should You Include a Home Office When You're Flipping a House in Atlanta?
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    Should You Include a Home Office When You’re Flipping a House in Atlanta?

Should You Include a Home Office When You’re Flipping a House in Atlanta?

As a hard money lender in Atlanta, we see all kinds of projects and ideas flow through our offices.

Something we’ve noticed is that home offices are becoming more popular – and for good reason. The U.S. Census Bureau says that more than 13 million Americans work from home, so it makes sense that buyers are looking for a great office space while they’re house-hunting.
Should You Include a Home Office When You’re Flipping a House in Atlanta?
While you shouldn’t designate any room as an official home office – simply because you could alienate buyers who don’t work from home – it’s a good idea to make any space as versatile as possible.

It’s called flex living space.

“As technology continues to make us more mobile, young buyers have more options than ever to work from home, depending on their job,” says Lou Cardillo, a New York real estate professional. “Having a dedicated space is important because it will help keep them focused and concentrated on work while they are at home on a Skype call, planning a presentation, setting up their workday or simply paying bills.

Ideally, in a home with multiple bedrooms, you can stage one to look like a half-office, half-guest bedroom. The idea of such a flexible living space is attractive (not just to millennials, either), so make sure your real estate professional highlights the appropriate room that way.
Do You Need a Hard Money Loan in Atlanta?
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 out our loan criteria and read our frequently asked questions so you can learn a little more about the hard money lending process.

 

 

What Do Millennials Want in a Home?

If you’re investing in real estate, you know you need to have what buyers want. But millennial homebuyers want different things than older homebuyers do – and your market research will tell you who’s more likely to be looking for a home in the neighborhood you’re investing in.

So what do millennials want in a home? Because we’re a hard money lender in Atlanta, we have a unique perspective… and in-depth knowledge of what younger buyers want.
What Millennials Want in a Home
First things first: millennials want a turn-key home that doesn’t require much work, according to Bankrate.

Like most other buyers, millennials love updated bathrooms and kitchens. Remember, too, that they want energy efficiency and appliances they aren’t going to need to replace within the next couple of years.

Millennials are likely to know that kitchens and bathrooms are the most expensive spaces to update, so they’ll appreciate your efforts in these two areas when they make an offer on the home. Just be sure that you’re working with the best contractors in Atlanta and that you know about the best kitchen and bath showrooms in Atlanta, too.

Open floor plans are really popular among millennials, too. If you can make the home appear larger by opening up the space, it may be worth your investment when it’s time to sell.
Do You Need Hard Money in Atlanta?
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 […]

About Flipping Houses in Atlanta

Flipping houses isn’t the easiest job in the world, despite what you see on TV. In fact, it’s a tough job – but if you know what you’re doing, you can turn a decent profit… and have a little fun with your creative side at the same time.
Flipping Houses: Not for the Faint-of-Heart
Flipping houses requires a lot of hard work. If you’re not the boots-on-ground type, you’ll need a spectacular team of contractors, lawyers, real estate professionals and other experts to help you along. You’ll also need to be very involved with each project, making decisions from start to finish.

And it all starts with finding a great deal and securing financing quickly.
Funding for Flipping Houses
Many people who successfully flip houses know a hard money lender in Atlanta who can help them act quickly. Hard money lenders typically fund much faster than conventional lenders do, and in many cases, we agree to fund even when others won’t.

When you see a great deal on the real estate market, you’re not the only one who sees it… which means you need to jump on it as quickly as possible.

Your lender will evaluate the situation and be able to provide finding as fast as possible. If your lender can’t, someone else’s will.
Are You Looking for Funding So You Can Flip a House?
If you’re looking for the cash you need for flipping houses, 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 amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan […]

Construction Hard Money Loans

If you’re like most people, coming up with money quickly for construction ventures isn’t always easy. There are many ways to try to obtain money… but are they all practical? Here’s why considering a construction hard money loan may be your best bet.
About Construction Loans
When you’re looking at ways to fund a building project, you could try to obtain a loan from a bank or mortgage lender, take the crowdfunding route, or get a construction hard money loan.
Traditional Construction Loans
Traditional construction loans are funded by banks and mortgage lenders—but they may not be as easy to obtain as you think they are.

If the lender approves you based on your credit and other strict criteria, you’ll be able to take advantage of a short-term loan that must be paid off by another mortgage loan. Keep in mind, though, that you’ll be paying a high interest rate during the construction phase. The loan approval process can be very lengthy, and most conventional lenders require a lot of detailed information (and a hefty down payment).
Crowdfunded Construction Loans
Crowdfunding for real estate investments is becoming more popular. These are a good source of funding if you’ve been denied by banks; however, most serious individual investors need proof that they’ll see a return on their investment—and that you’re not a huge risk.
Hard Money Construction Loans
Construction hard money loans also require a down payment, and you’ll face some high interest rates, but your chances of getting funded are significantly higher. Hard money lenders typically don’t require all the information the banks do, and the process is usually faster.
Construction Hard Money Loans in Atlanta
If you’re looking for a hard money loan in Atlanta, we may be able to help you.

Call us at […]

Is Hard Money Actually “Easy Money”?

A hard money loan doesn’t receive its name because it’s difficult to obtain, but at the same time, it’s not easy money. Several myths are attached to the term, but this one ranks near the top.
The Language of Real Estate Investing: Hard Money Isn’t “Easy Money”
If you’re new to real estate investing, you’re probably learning a whole new language. So what’s a hard money loan?

A hard money loan is a secured real estate loan for investment purposes. The property, either residential or commercial, is used as collateral in case the borrower defaults.

Some believe, despite its name, that this type of loan is easy money for two reasons: First, the lending process is typically faster. Second, there isn’t as much red tape with a hard money loan as there is with conventional financing.

While these two things are definitely true, a hard money lender is taking an enormous risk. You’ll still need to prove that you’re able to repay the loan, and we’ll also want to see that you’re invested in the property.
Do You Need a Hard Money Loan 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 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.

 

 

 

 

 

 

How to Find a Great Atlanta Contractor

Flipping a house isn’t a one-person job, and that means you need a great team in place.

But when it comes to Atlanta contractors, how do you know you’re getting the best of the best?
How to Find a Good Atlanta Contractor
If you’re hiring an Atlanta contractor, start asking for recommendations from family and friends. You can (and should) even ask your hard money lender in Atlanta for a few contacts.

Once you’ve narrowed down your list to a few good contractors, start conducting phone interviews. Call and ask:

Do you do projects of this scope?
May I have a list of your previous clients?
How many other projects are you working on right now?
How long have you been working with your current subcontractors?

After you get warm-fuzzy feelings about one or two Atlanta contractors, have a face-to-face meeting.

The right contractor won’t mind answering your questions and making you feel comfortable. However, just because a contractor is nice and has all the right answers, that doesn’t mean he or she is right for the job; you’ll still need to check with the Better Business Bureau and the Georgia consumer protection agency to make sure.

Call the contractor’s past clients and find out how things went; ask if they mind sharing the finished project with you.

Once that’s done, it’s time to make plans and ask for bids. Ask for a complete breakdown, which includes:

Cost of materials
Cost of labor
Profit margins
Other expenses

Good contractors will want to see a complete set of blueprints and an explanation of what you want to see happen.

Don’t rely just on price. If you get a “lowball” bid, you may want to throw it out; that contractor may cut corners to try to […]

2017 Bathroom Trends REIs Need to Know About

If you’re a real estate investor, you need to know all about the 2017 bathroom trends—especially if you expect buyers to fall in love with what you’re putting on the market for resale.
2017 Bathroom Trends for REIs and House-Flippers
This year, much like last year, a bathroom can be a deal-maker or a deal-breaker.

However, the 2017 bathroom trends have taken a turn toward nature. Blending organic with new, shiny, and functional is the way to go this year if you’re a real estate investor.

The bathrooms that capture the most favorable attention will have:

Clean colors
Neat lines
Practical arrangement of space (no more toilets sandwiched between cabinets and showers, if you can help it)
Simplicity
Continuity

Being Bold in Bathroom Design
There’s nothing wrong with making the bathroom more like a luxury spa. If you can find the right fixtures at the right prices (check out our list of the best kitchen and bath showrooms in Atlanta), go for it!
Keeping Things Simple in Bathroom Design
Designers are gushing over faucets made from clay, but you don’t have to spend a small fortune. Look for sinks and faucets with clean, simple, and elegant lines; don’t get anything too ornate if you want to appeal to the widest range of buyers.
Do You Need a Hard Money Loan in Atlanta?
If you need funds for an investment property, we may be able to help you. Call us at 404-814-1644 or send us a note. You can also apply for a hard money loan online.

In the meantime, read our FAQ, learn about the hard money loan process and see if you meet our criteria! We’ll be happy to help you if you qualify.