Home Improvements

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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 […]

Should You Replace Vinyl Siding on an Investment Property?

First things first: If you replace the vinyl siding on your investment property, the national average of return on investment is about 80 percent (give or take a few points).

However, that investment may be a good one—especially if you consider the boost in curb appeal.
Should You Replace Vinyl Siding on an Investment Property?
The job averages less than $11,000 across the nation, which means it’s relatively cost-effective (but that’s also a pretty large chunk of change). New vinyl siding will make the house look brand-new on the outside, but if you’re not making significant improvements to the inside (or if the inside doesn’t already look next-to-new), that may be a wasted effort.
The Deal With Vinyl Siding
Vinyl siding typically lasts about 25 years. Contrast that with house paint; houses need their exteriors repainted every five to seven years, which means buyers are more likely to want a house with low-maintenance vinyl siding.

Long-lasting, low-maintenance convenience is what new buyers want, so new siding may be a worthwhile investment for you to make.
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 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.

Your Credit and a Hard Money Loan

Sure, credit matters.

But there are many good people who have terrible credit scores (and vice-versa).

What that means is that those good people are often ignored by lenders, and in many cases, the reasons behind their poor credit are far beyond their control.

So what happens if someone with bad credit wants to get a rehab loan?
Bad Credit and Rehab Loans in Atlanta
When someone with bad credit attempts to get a rehab loan through a traditional lender, the lender may not even look at his or her circumstances. In those cases, turning to an Atlanta hard money lender is typically the best option.

Why?

Because a hard money lender, even if they check your credit, is really looking at the most important factor: the value of the house.

In many cases, a hard money lender is able to fund a loan when the applicant has poor or less-than-perfect credit because what really matters is how much the property is worth. Remember, in a hard money loan, the property serves as collateral.
Should You Apply for a Hard Money Loan With Bad Credit?
Don’t let your credit score stop you from applying for a hard money loan. In fact, we may be able to help you if traditional lenders have turned you down. While bad credit can be a challenge, you can overcome it.
Do You Meet Our Loan Criteria?
If you’re thinking about applying for a hard money loan through Paces Funding, 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 […]

Should You Add a Sunroom to Your Investment Property?

Adding a sunroom to your investment property may be a bad idea—especially if you’re looking for a quick turnaround with a hefty profit.
Should You Add a Sunroom to Your Investment Property?
The numbers don’t lie: Adding a sunroom to your investment property will get you, on average, about 50 percent of the project’s cost back when you sell. The average cost of building a sunroom is about $73,000, which could be better-spent elsewhere.

Naturally, every house—and every buyer—is different; it could pay off differently for you.

But like home offices, a sunroom looks like an inefficient use of interior space to many buyers.
What’s a Better Investment?
A better investment might be a deck, a mother-in-law suite, or an extra bedroom on the first floor. Even without adding anything to the house, making big improvements in the kitchen—like improving an inefficient layout—or the bathroom could bring you far more bang for your buck.
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 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.

 

 

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    Increase Your Investment Property’s Value With These 3 Great Upgrades

Increase Your Investment Property’s Value With These 3 Great Upgrades

Our last two posts on improving the resale value of your investment property were both really popular, so we’re adding a final installment in the series. (You can read the first two here and here.)
3 Amazing Upgrades You Can Make to Your Investment Property
Upgrade Tip #1: Put Drawers Between Wall Studs
You don’t have to take up any space inside a room when you install drawers (quality drawers with good tracks!) between wall studs. The key, though, is making sure that the drawers are built to last.
Upgrade Tip #2: Add Pull-Out Stools to Kitchen Islands
Everyone wants to sit at a kitchen island, but really, who has the room in the kitchen for chairs (or the desire to lug chairs back and forth from another room)? Installing stools on hinges solves that issue and provides a really cool feature that buyers will find practical, too.
Upgrade Tip #3: Do Something About False Drawers
Add an outlet behind a false drawer, or turn it into a shortened, angled drawer. This works in bathrooms and kitchens, which makes it a brilliant idea to make use of otherwise wasted space.
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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    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 […]

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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 […]

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.