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    4 More Cost-Effective Improvements You Can Use to Improve Your Resale Value

4 More Cost-Effective Improvements You Can Use to Improve Your Resale Value

Our last post on home improvements you can make to improve your resale value was incredibly popular, so we’re back with four more great ideas you can implement for very little cost… and maximize your return on investment.
4 Great Home Improvements You Can Make to Up Your Resale Value on an Investment Property
Home Improvement Tip #1: Add Dutch Doors
People love Dutch doors, whether they have kids, pets, both, or neither. No matter how you look at it, they’re a cool addition to a house—and if you’re already replacing or adding a door, this is a little touch you can use to make a huge difference.
Home Improvement Tip #2: Carve Out a Built-In Shelf
If there’s a long, sort-of awkward hallway with plenty of empty space, it may be a good idea to knock out part of the wall and install a built-in shelf. It’s particularly helpful when all you see is an expanse of blank, white wall on one side.
Home Improvement Tip #3: Add a Sun Tunnel
It’s not a full-fledged skylight, but it’s not a hole in the roof; it’s a sun tunnel. It’s a small, circular window in the roof that adds natural light to even the darkest spaces.
Home Improvement Tip #4: Put in Recessed Outlets
In some areas, recessed outlets are better than standard ones; in the living room, for example, people want to push a shelf up against the wall. While you’re installing recessed outlets, choose outlets that have built-in USB ports.
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 […]

Commercial Loans vs. Residential Loans

The differences between commercial and residential loans may seem cut-and-dry, but they’re not always obvious. Determining which type of loan you require can be confusing at times, and being prepared before you speak with a lender may save you some time.

Residential mortgage loans are intended for properties that have one to four family units. Anything above that, or a property intended solely for business (not a dwelling), falls under a commercial loan.

When you require a residential loan, your personal income, debt and ability to repay a loan are reviewed before you’re approved for a mortgage. If you need a commercial loan, the property itself is evaluated for past income and expenses. This usually requires a few years of historical figures. Your lender will want to see the income that can be generated from the building, compared to what will be owed.

It is important to note that if you’re interested in obtaining a residential loan, and wish to put it under the name of a limited liability company (LLC), you may not be able to. Lenders are under strict guidelines as to which type of loan they’re able to offer an LLC. There may be an opportunity to transfer at a later time, but you would need to consult your attorney or lender.

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 […]

Should You Hire a Property Manager?

There’s no denying that real estate investing can be profitable (if you’re good at it), but there’s usually a lot of blood, sweat and tears involved. If renting homes is your thing, but you find that you’re just not into unclogging toilets, or don’t have the knack for finding the perfect tenants, should you throw in the towel? If so, you may want to consider hiring a property management company.

If you’ve invested in multiple properties or are just simply making enough money (that’s the goal, right?), hiring a company to take some tasks off your plate may give you some time to look into future investments. So, how do you find the perfect property manager? Here are some questions you can ask them:

What are your fees? Do you charge a monthly rate and are there additional fees for things like finding tenants?

Some companies will charge a flat monthly fee even if your property is left vacant. Others, get paid a percentage of the rent collected.

Are you licensed and insured?

You’ll want to make sure the company is licensed and insured in case of legal or liability issues.

How do you vet prospective tenants?

Make sure their requirements include background and credit checks, as well as payment histories, so you don’t end up with tenants who don’t pay.

What is the best way a tenant can reach you?

Having an accessible property management company is necessary for a healthy relationship with tenants. They’ll need to know they can reach out when issues arise.

How can I end our contract?

If you find that your management company is not working out properly, you should be able to move on. Read the contract thoroughly before signing to make sure […]

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    Cost-Effective Improvements to Help You Sell Your Investment Property

Cost-Effective Improvements to Help You Sell Your Investment Property

Real estate investing is all about maximizing profit, but to do that, you have to know where you can afford to save money… and where you can’t.

With that said, therea re a handful of things you can do to help improve your resale value—and these are some of the most successful we’ve found.
3 Cost-Effective Fixes to Improve Your Resale Value
Improvement Tip #1: Don’t Use Cheap Finishes
We’ve talked about how cheap finishes can kill your sale, but there’s a little more to it than just looks. You’ll need to invest in quality—not just attractive (but still cheap) finishes.
Improvement Tip #2: Hide an Ordinary Concrete Foundation
While this doesn’t change anything about the structural integrity of the house, adding bricks or even stone veneer can make a huge difference in the way potential buyers see the home.
Improvement Tip #3: Add a Window Seat
If there’s a spot where the views are great (or there’s a window—either way), think about adding a window seat to create a really attractive spot in the house. People like to think about relaxing, even if they don’t do it often enough, so this little adjustment can go a long way.
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.

 

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    3 Easy DIY Updates to Make Before You Sell an Investment Property in Atlanta

3 Easy DIY Updates to Make Before You Sell an Investment Property in Atlanta

As a real estate investor, you know how important it is to make high-quality upgrades and improvements without spending a fortune—and sometimes that means doing the work yourself.

Some of the best improvements you can make are in kitchens and bathrooms.
3 Easy DIY Updates to Make Before You Sell an Investment Property in Atlanta
Little improvements that pack a big punch are what you’re looking for, so check out these three DIY updates that can pay off at the closing table.
DIY Update #1: Add a No-Touch Faucet to the Kitchen
You can find amazing no-touch faucets between $75 and $200, and because the kitchen already has plumbing, you can DIY the installation without taking a big risk.
DIY Update #2: Drawer Pulls and Cabinet Handles
Modern drawer pulls and cabinet handles can go a long way in improving the way people feel about a house. For less than $50, you can redo all the handles in an entire kitchen to give it a fresh, new look.
DIY Update #3: Throw Out Fluorescent Lights in the Bathroom
Fluorescent lights are no good anymore; nobody wants them. Swap out old fluorescent bulbs (in every room, actually) and replace them with long-lasting LEDs that you can tell buyers will contribute to the home’s energy efficiency profile.
Do You Need Hard Money for 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 amounts can be up to 65 percent of the after-repaired value of the collateral—and if you use the loan for renovation or […]

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 […]

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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 […]