Flipping

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    Atlanta: One Of Top 10 Metros With People Willing To Be ‘Super Commuters”

Atlanta: One Of Top 10 Metros With People Willing To Be ‘Super Commuters”

If you’re a property investor, you should know, people are willing to be “super commuters” just to work in Atlanta. People seek cheaper housing away from the inner city, and are willing to drive for over 90-minutes just to work in the city. The trend is similar all across the nation, but Atlanta has an increasingly high number of super-commuters. That means that if you can snag a home outside of Atlanta, it might still be a good investment.

A whopping 4 percent of Atlanta’s working population commutes great distances to work. The city ranks ninth on the list of top ten metros in the entire nation for the highest concentration of super commuters. It has a robust economy and plenty of great jobs. The trend is only expected to increase with population growth. Households are priced out of the inner suburbs and far out of the inner city for many Georgians. So, while looking for areas to create rental properties or flip houses, take a look outside of the city, past the inner suburbs. You’ll likely find a gem in the rough worth investing in.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

Call us at 404-814-1644 or contact us online to find out […]

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    How To Appeal The County Assessor’s Property Value In North Carolina

How To Appeal The County Assessor’s Property Value In North Carolina

 

North Carolina’s property tax is “ad valorem,” so you’re taxed based on the property value. But what happens when you disagree with the county assessor? The assessor revalues properties within the county at least every eight years. So, if you get a wrong value placed on your property, you could be paying the wrong tax on it for the next eight years!

It’s partly your responsibility to check your assessed value, if you own property. The good news is there is recourse. If you disagree with the assessment, you can appeal it. Imagine being over taxed for your property for nearly a decade. If the assessor’s value seems wrong, you can appeal it. To appeal your property’s assessed value in North Carolina, you can go to the local board of Equalization. Often you can just make informal contact and assessors will work with you, if they’ve made an error.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

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 […]

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    Explanation of South Carolina Building Codes Enforcement Officers

Explanation of South Carolina Building Codes Enforcement Officers

 

If you’re flipping houses in South Carolina, you’ll want to know more about the building codes enforcement officers. Here’s a quick reference guide.
Building Official
A Building Official performs tasks and inspections for the local jurisdiction’s building department. They must carry a certification as a building official (CBO).
Commercial Inspector
A Commercial Inspector performs onsite inspections in at least two construction disciplines. You know, like electrical and plumbing or building and mechanical. What they inspect is decided by the local jurisdiction that employs them. They have to have  certificates or examination records from a recognized code organization. They must actually be certified in two or more commercial inspector disciplines.
Residential Inspector
A Residential Inspector  perform onsite plumbing, building, electrical, and mechanical inspections on residential homes that are three stories or less in height. Also, the dwellings have to have 16 or less units per building. Plus, the total building has to be 5,000 square feet or less. All Residential Inspectors are been certified in the four residential inspector disciplines.
Single Discipline Inspector
A Single Discipline Inspector is just what the title sounds like. They inspect only one construction discipline. They are, of course, certified in that one discipline.
Plans Examiner
A Plans Examiner performs the building plans reviews. They are certified in the discipline of commercial building, electrical, plumbing, and mechanical plans.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a Hard Money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas.

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 […]

Know The Signs Of A Problematic Foundation

If you’ve decided to invest in real estate, you can save yourself a lot of time by recognizing signs of foundation damage right away.  Keep in mind, if you find only minor problems, it might still be worth hiring a professional evaluation, rather than just walking away from the investment property. Every little foundation issue doesn’t mean that you have to walk away from the deal. With experience, you’ll learn to recognize which homes to walk away from and which warrant the cost of a closer inspection.

Foundation cracks and floor cracks should be investigated further. Likewise, look for wall fissures and broken chimneys. These can both indicate a problem with the foundation. During the first two to three years after a structure is build, sinking is common. Tiny cracks approximately 1/16″ thick are extremely common.  But if you find horizontal cracks in the concrete block walls or brick exteriors, you might have a problem. Horizontal cracks are considered more serious, because it means that the perimeter of the structure is under too much pressure. When cracks are at a 45 degree angle, you may be looking at severe foundation movement. Stair-step cracks in brick exteriors appearing in the corners also warrant a closer look.

Even still, if you find one single vertical crack, your foundation might be moving upwards. Foundation upheaval is the opposite of settling. This is usually caused by moisture in the soil.  Sometime, it can be caused by under-slab plumbing leaks.

Check for doors that stick or don’t open and close properly. This can mean some kind of disturbance in the foundation. If you notice doors sticking, check for other signs of foundation problems. Other things to look for are counters or cabinets […]

  • Will a popcorn ceiling reduce the home value?
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    What Should You Do About Popcorn Ceilings When Remodeling An Investment Home?

What Should You Do About Popcorn Ceilings When Remodeling An Investment Home?

If you are buying an investment home with popcorn ceilings, consider removing or replacing this textured ceiling treatment.  They date a home and are associated with dirt, dust and asbestos. These old spray-on or paint-on ceiling treatments were once very popular in bedrooms and hallways, but they aren’t popular anymore. Sure, they hide imperfections and offer nice acoustical characteristics, but they are not preferred these days. Home buyers equate them to asbestos, dirt and dust, because many contained asbestos and they usually would get painted more often than cleaned!

Before trying to remove this treatment yourself, contact the health department. You should be able to have them test a sample. If it contains asbestos, your best bet is to invest in tongue-and-groove planks to cover the ceilings. If it doesn’t contain asbestos, the hardware store offers a solution to soften the textured ceiling treatment. Sometimes, people find that there is gorgeous plaster in great shape beneath these roll on popcorn ceilings!

Don’t pass on an investment property just because of  popcorn ceiling, but remember when you’re flipping the house that many other people will do just that!
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a Hard Money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas.

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 […]

Most Common Problems Identified On A Home Inspection

Have you ever wondered what the most common problems found by home inspectors are? Most problems are relatively easy to fix. So, don’t let these be deal breakers if you find an otherwise good investment.

Faulty wiring is common, but not usually a costly problem for an electrician. Often they find open junction boxes or wires without wire nuts. Easy fixes. Water on ceilings often terrify purchasers, but if it’s caused by faulty plumbing, the repairs can be no big deal. Inspectors commonly find poor drainage causing basement leaks. That’s not always hard to fix either. Bad gutters cause a myriad of issues, but are easy to replace or repair. Foundation flaws like small cracks aren’t always a huge deal. The inspector can inform you of the severity. Poor maintenance like worn shingles or a cracked driveway are also easy to repair, so don’t despair!

Now, if your inspection finds that your roof needs replacing, you could be looking at more than seven grand. If the house is in a flood zone, you might consider just running the other way. If you find major foundation issues, it might not be worth your investment. If all of the wiring is aluminum, you’ll need to replace it. That can also cost thousands, so make sure you’re prepared for that kind of cost investment before you sign the final papers.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a Hard Money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas.

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 […]

Don’t Ever Skip The Inspection On An Investment Property

A home inspection fee starts at around $400 and goes up from there. A quality home inspection is critical, unless you are professionally trained to recognize even hidden damage in a structure. Sometimes you can’t see roof damage, outdated electrical system issues, or a hidden water leak. These issues can become very expensive, very quickly. They can be costly, even if you are skilled at DIY home repair.

A home inspector looks for proper grading away from the structure, leaks from the septic field, damage to exterior structures and landscaping issues. The inspector checks railings on stairs, notices if downspout drainage is placed properly, examines ridge and fascia board lines, checks for structural damage. The home inspector looks to see if windows or door frames are bowed, and why. Exterior surfaces are examined. They check insulation, plumbing, and evidence of foundation damage. This is just to name a few things.

If you don’t know how to check for proper plumbing installation or how to check an electrical service panel, you shouldn’t rely on your own judgement.

A quality home inspection can save you a tremendous amount of money, so don’t skip it.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a Hard Money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas.

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 […]

Is There A Difference Between Drywall And Sheetrock?

Sheetrock is simply the brand name of an incredibly popular drywall product. Drywall, a panel made of gypsum plaster sandwiched between thick paper, has many vendors. Though people will call all sorts of drywall, “Sheetrock,” only drywall from U.S. Gypsum Company is actually allowed to market drywall as under the name Sheetrock. So, even if the drywall is from Titan Commercial Products, Allied Manufacturing, or National Gypsum Company, people are likely going to call it, “Sheetrock.”  Sheetrock was one of the first drywall products and is so popular that its name seems virtually interchangeable with drywall. Think about how often you call an off-brand of tissue, “Kleenex.” It’s the same idea. Not all nuggets are McNuggets, but that doesn’t mean children won’t refer to them as such.

Drywall by other names is also wallboard, plasterboard, gypsum board, or gypsum panel. It’s made from calcium sulfate dihydrate (gypsum) with or without additives. Usually it’s pressed in between thick sheets of paper (a facer and a backer.)
Tip: You can sometimes find drywall half priced in decent shape at Habitat for Humanity or other resale stores.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a Hard Money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas.

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.

Should You Invest In Good Carpet Padding To Flip A House?

You’ve got your eye on a potential investment property. You’re creating your budget. You want to cut some corners. Should you get cheap carpet padding?

Most investors find that a good carpet padding increases buyer interest even more than a good carpet would. Good padding can absolutely help you flip a house. Buyers assume that if you’re willing to invest in a quality padding, the home must have quality products everywhere. You can even go with a cheaper carpet if you choose a better padding. It wouldn’t even be deceptive. Quality padding can help even low grade padding last longer. The good padding can help carpet absorb the impact from traffic from below.

Plus, the feeling of nice carpet padding beneath a buyer’s feet goes a long way. It absolutely goes further than the same cost investment on a higher quality carpet. Keep in mind that residential carpet should have a minimum six-pound density rating, but many prefer an eight-pound padding. You can install up to half-inch carpet padding beneath cut pile carpet. Still, for berber carpet, you should keep it under 3/8 inch thickness.
Tip: If installing carpet padding yourself, don’t forget to cover all seams with seam tape!
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a Hard Money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas.

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 […]

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    If You Don’t Have 100% Of The Funds, Don’t Start A Real Estate Project

If You Don’t Have 100% Of The Funds, Don’t Start A Real Estate Project

If you don’t have all the funds you will need for your real estate project, be that flipping a house or renovating a potential rental property, don’t take that risk. That’s a gamble that could end up with you in a really bad situation. If you want to start a real estate project, be sure to start with more debt or more funds than you think you will need. That’s right, always starts with a loan for more than what you think you will need to complete the project.

See, it’s easier to get initial funding than subsequent funding. If something comes up and you don’t have the funds to cover it, your entire project could stall, and then fall apart. You don’t want to spend countless hours and resources only to lose all of your work in the eleventh hour. It’s not unheard of for someone to get 90% finished on a real estate project and then lose everything. Why? Because they tapped out of funds. Don’t learn the hard way. Take our word for it. Never start a real estate rehab project unless you have all of the money that you will need to finish the job.

 
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a Hard Money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, North and South Carolina metropolitan areas.

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 […]

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