Hard Money

Heads Up About Fulton County Property Tax Bills

If you’re thinking about an investment property in Fulton County, you should be aware that the Fulton County Board of Assessors announced a 25 percent median increase in the year’s home appraisals. Last year, Fulton County residents complained about drastic assessment increases. After those complains, Fulton County decided to keep assessments the same as the year before. Still, that won’t work this year. See, according to law, tax assessments must be close to market value and Fulton is doing very well.

Still, in Fulton County, the board of assessors did tell the public they would investigate properties that might have been wrongly appraised. In total, the board will have to review over 80,000 properties though. Tax bills will arrive any day now.

Still, just this week, WSB-TV Atlanta reported that Fulton County now faces legal action. The county is accused of “sales chasing,” or raising the assessment to its sales price while leaving other properties unchanged. Reportedly, one lawyer is considering a class action lawsuit over the matter.

There are great investment properties in Fulton County. That is certain. Just be prepared ahead of time for the possibility that taxes may be higher than you’ve anticipated.
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 […]

Atlanta’s Entry-Level Homes In Extremely High Demand

It’s a great time to flip houses in Atlanta: Atlanta’s entry-level homes are in extremely high demand. Across the nation, the housing inventory is historically low. Plus, over half of the available homes are consider on the high end price-wise.  A mere 22 percent of homes on the market right now are considered entry-level homes. In Atlanta, entry-level homes are even less available. A mere 13 percent of all homes in Atlanta are entry-level homes.

Keep in mind that many homes out there are out of reach for first-time home buyers, because they can’t pass an inspection. Sometimes, it’s for small issues that professional investors can easily repair.

Let’s say that a young family wants an entry-level home. The home buyers have one daughter, are veterans and qualify for a VA backed loan. The VA loans is the only way they’re going to be able to get into a home, because VA loans come with no down payment and no PMI needed. Their debt-to-income ratio would be too high if you include PMI into the monthly payment. After all, one of them just took two years off to stay home with the child and they bought a new, safer family car. Though both are working now, they need two years of income history from both of them to qualify. So, they really need that VA backed loan. The problem is, the only homes they can find have something wrong with them that won’t pass the VA inspection. Some are missing fascia. One has a broken broken window. One home simply needs a new furnace. Regardless, they can’t get into those houses with their VA loan. So, that means they can’t get into those houses at all. […]

By |May 11th, 2018|Hard Money|0 Comments

Southwest Atlanta May Be In For Serious Economic Growth

 

Just a heads up to our property investors following out blog: Southwest Atlanta is likely about to experience some expanded economic activity along the Westside Trail and the are around the transportation corridor.

See, Atlanta Beltline officials just announced a new affordable housing project in Adair Park. Amenities for the $15 million project include a picnic area and a community garden. These days renters flock to developments with community gardens, so it’s a smart plan. Other investors are also interested in the vicinity.

Check out properties around Beltline’s Westside Trail and Urban Farm and near MARTA’s West End station. The new plans for the area is expected to generate jobs and significant economic activity. This might be the best time to pick up a rental house as an investment property. No cash on hand? That’s OK. Hard money loans are where we come in. So, if you find the perfect investment property, contact us right away!
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 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 […]

Property Tax Relief In The State of Tennessee

Let’s talk about the State of Tennessee property tax relief program. Tennessee offers tax relief to certain eligible homeowners for all or part of paid property taxes. The tax relief isn’t an exemption. Homeowners still get a property tax bill and are still responsible for paying property tax each year. The amount of tax relief varies. The amount of tax relief issued by the State of Tennessee depends on the property assessment and the county or city tax rate. It might not be the same every year. Most property investors know, but this tax relief is only available for people’s primary residences. It’s not applicable for investment properties or second homes in the state.
Apply For Property Tax Relief
To apply for tax relief, homeowners can get an application from the local county trustee’s office of the city collecting official’s office. The property relief voucher is sent when the property bill is sent. In order to get relief, the homeowner has to actually present the voucher to the collecting official before the deadline date and pay any balance due on the property.
State of Tennessee Property Tax Freeze Program
Besides for the tax relief program, homeowners in Tennessee that are 65 years old or older by the end of the year might qualify for the Property Tax Freeze Program. This makes the amount of the property tax fixed, even if there is a rate increase! This program is also only for a primary residence, so it can’t be used for one of your investment properties.
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 […]

By |April 30th, 2018|Hard Money, Taxes|0 Comments
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    Standard Deduction Increases for 2018, Freeing Up Some Extra Cash For Renters, Home Buyers

Standard Deduction Increases for 2018, Freeing Up Some Extra Cash For Renters, Home Buyers

Just a heads up: This year, changes to the federal tax law bring increases to the standard deduction that people can use when filing their 2018 taxes. Most Americans, including renters and home buyers of your investment properties claim the standard deduction, avoiding the hassle of itemizing on their federal tax returns every year. For 2017, the standard deduction for a married couple was $12,700.

Next April, the standard deduction for the same couple will be $24,000. Generally, this means a lower tax liability for the average renter or home buyer. Additionally, the Child and Family Tax Credit doubles per child to $2,000. Plus, the actual payable (refundable) portion goes up to $1,400 per child! This means a potential refund check for some who have not previously gotten refunds, even if they didn’t actually pay federal taxes. On top of that, some people with dependents (such as children older than 17) will see a tax credit of an extra $500.

In many cases, that will mean cash on hand and the ability to finally cover moving expenses or down payment costs on a mortgage. Obviously, some will pay off debt or take a vacation, but many others will use the money to finally purchase a home or move into a better rental. So, keep that in mind as you check out potential investment properties this year.
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 […]

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    U.S. Conference of Mayors Projects Atlanta Population Growth: Nearly 9M Residents Within Next Three Decades

U.S. Conference of Mayors Projects Atlanta Population Growth: Nearly 9M Residents Within Next Three Decades

Within the next three decades, Atlanta’s population is expected to be nearly nine million people! Projections from a U.S. Conference of Mayors believe that Atlanta will leapfrog over large metros like Philadelphia and D.C. to become the U.S.’s sixth largest city.

Projections for our city indicate that Gwinnett will become the largest county in the region. Fulton County would come in second. Also, the Hispanic population is expected to more than double. Meanwhile, residents age 65 and older is expected to more than triple!

This indicates that Atlanta may be a great choice for investors. Investment properties for both residential and commercial needs will be in demand. With the population growing now, don’t miss out. If you need a hard money loan to get a property into tip top shape before you begin renting it out, we’d love to help you out. We are a legitimate and direct hard money lender. We aren’t a broker agency.
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 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 […]

2018 North Carolina Building Code

The Building Code Council adopted the 2018 North Carolina Building Code at its quarterly meeting in June, 2017.  The 2018 North Carolina Building Code (Except Electrical) will go into effect no later than July, 2018, according to the state’s website.  At that point, we’ll see a minimum six month over lap where either the 2012 NC Code or the 2018 NC Code is acceptable.

So, when is the new code fully active? According to the state’s website, on January 1, 2019, the new code becomes the requirement. Meanwhile, the 2018 Electrical Code went into effect this month.

“The Base Documents for the 2018 NC Codes are the 2015 International Codes,” reports the Office of State Fire Marshal.

You’re not required to wait until the code is fully effective to use it though. See, any code amendment can be used as an alternate set of rules before its effective once it clears Rules Review, of the user requests to use 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, 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 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 […]

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    Big Businesses Requesting Municipal Approval Indicates A Neighborhood Prime For House Flipping

Big Businesses Requesting Municipal Approval Indicates A Neighborhood Prime For House Flipping

Keep your eye on the neighborhoods in which big businesses try to get into. Is a Panera Bread or a McDonald’s requesting local permission to build? If you start to notice corporate interest in a particular neighborhood, that’s a good sign that an area is about to see a lot of growth. Want a lucrative investment property? Paying attention at city council meetings can be helpful. First of all, they might know something you don’t. Remember, they aren’t going to waste their money developing if their research departments feel the market doesn’t have potential. Also, once they are there, renters and buyers generally find the area more appealing. They bring job opportunities and convenience.

Also keep an eye on future plans for developments like parks or street upgrades. If a city has the go ahead to put in a new municipal park, think of how much more appealing the properties will be for buyers. Paying attention to these trends that indicate growth can help you maximize your profits when house flipping or purchasing rental properties.
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 whether you might qualify for this type of funding. In the […]

Building Permit Process In Nashville

 

All properties within Metropolitan Nashville are zoned for particular uses depending on their zone district classifications. If you’re considering an investment property in Nashville, take a look at the city’s Zoning Land Use Table. It will let you know what uses are permitted in various zones around the city. The property will be considered “zoned and ready” as long as its zoning matches your planned use for it.

Once you’ve got the property in your hands, you’ll probably want to do some renovations. The building permit process in Nashville is pretty straight forward. The building permits are handled by the Nashville Department of Codes and Building Safety. The city offers an e-Permit system to save you time on applying in person. All of the plans and specifications for your building project can be submitted through the e-Plans Review application. The online services save everyone time and make the process much easier.

For better understanding, the City of Nashville uploaded a handy flow chart detailing the building permit process.
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 […]

North Carolina Property Tax Comparison By County

If you’re thinking of flipping houses or maintaining investment real estate in North Carolina, you should know that the state has one of the lowest median property tax rates in the country. Only 14 states have a lower median property tax. On average, North Carolina counties collect an average of 0.78 percent of a properties assessed fair market value. To put this in perspective, the median property tax in North Carolina for a home worth $155,500, is $1,209 each year.

North Carolina’s property tax is “ad valorem.” In other words, it’s based on the value of the real estate property. The property value is determined by the county assessor. Each property has to be revalued at least once during every eight year span. This is how they determine the market value of the property for determining property taxes in North Carolina.

Obviously, the exact tax depends on the county your property is in. The highest property tax in the state is in Orange County and it levies an average of  $2,829. Montgomery County levies the lowest property tax, with county property owners paying an average of just $494 a year.

Would you like to see the comparison of property tax rated based on North Carolina counties? Tax-Rates.org offers a handy index of all property taxes by county.
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 […]

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