• Interior designers usually consult with clients for less than $100.
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    New To House Flipping? Spend An Hour With A Professional Interior Designer

New To House Flipping? Spend An Hour With A Professional Interior Designer

If you’re new to house flipping, paying for a consultation with an interior designer might be a good investment. Typically, an hourly fee for a consultation from an interior designer is less than $100. In that hour, a designer will throw out a bunch of suggestions for changes they might make to a home you intend to flip. They have lots of ideas. Though they won’t be able to design and implement the changes to your investment property in just one hour, the advice they provide during the consultation can help you get started on your own.

They may suggest some furniture ideas that could help you with home staging. It’s likely they will throw out color ideas for paint, carpet, curtains and counters. For less than $100, these ideas can really help you plan your remodel. Even small suggestions can go a long way, so don’t forget to jot down every suggestion during your consultation.

Expertise looked at 134 interior designers serving Atlanta, Georgia and created a list of the top 21. Check out their top picks for interior designers by visiting this link. It offers these experts’ websites and contact info as well as a small blurb about each design firm.
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 […]

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.

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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 […]

What You Need To Know About Note Purchases

Smart investors often make an extreme profit by investing in promissory notes. See, a note purchase means the purchaser is buying a lender’s promissory note instead of the actual property. The foreclosure process can be expensive in time and money for financial institutions. When a loan under-performs, these institutions are often willing to sell them at a discount. Note purchases are a risky business though. Legal counsel is strongly advised for all note purchases.

Again, when an investor purchases a promissory note, the buyer buys a lien right from a lender. This means, the buyer can’t actually possess the property. Consequently, the buyer often can’t have the property inspected. The property is generally occupied by the original borrower.

Now, this is important: If the borrower can’t repay the loan, the buyer will then have to go through the lengthy foreclosure process that the first financial institution was trying to avoid.

Now, here’s the deal. These can work, especially if the buyer is able to reduce the borrower’s monthly payment. The buyer will also have to make a profit, of course. So, a low-priced note means all the difference.

Investors purchasing a promissory note can view a foreclosure like a landlord views a tenant eviction. Well, except that a foreclosure is far more expensive and time consuming. Foreclosures usually require lawyer and trustee fees upfront.  The potential for having to foreclose on a borrower is the main reason so many investors shy away from note purchases.

Thankfully, there are many ways to invest in real estate.

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.
Are You Looking for […]

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 […]

Finding Turn-Key Homes in a Seller’s Market

With TV shows boosting the popularity of house-flipping as a business, people who ordinarily wouldn’t have ventured into real estate investment territory are jumping on the bandwagon.

But if you’ve been in the business for a while, you know this isn’t a get-rich-quick scenario. You know that you still need to find the best deals, but the market is getting crowded with investors who aren’t… well, aren’t as invested as you are.

So what do you do?
Finding Turn-Key Homes in a Seller’s Market
Like most real estate investors, you may find that Atlanta flips are hard to come by. Asking prices for homes are often too high to show you a return on investment.

When it’s a seller’s market, it’s time to get creative.

Start here:

Don’t rely solely on the MLS. Foreclosures and homes with low asking prices go quickly.
Go grassroots by knocking on doors, finding “for sale by owner” homes, and searching for pre-foreclosures.
Expand your territory — look for homes that are just off the beaten path.
Shift focus to quantity rather high-value returns; don’t turn up your nose at smaller profits.
Team up with an experienced real estate professional who has an extensive contact list.

Do You Need a Hard Money Lender 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 […]

2017 Kitchen Trends for Flipping Houses

In the past, we’ve mentioned that cheap finishes can kill your sale — but how do you know what buyers really want?

The answer is simple: you stay on top of fixture trends and keep an eye on what’s selling in your area. As a hard money lender in Atlanta, our team has seen plenty of trends come and go (remember popcorn ceilings?).

With that said, we’re not going to leave you hanging. Check out the hottest kitchen fixture trends for 2017 before you dive into your next project.
Kitchen Fixture Trends 2017
Like in 2016, people want to keep things simple, with clean lines and an elegant look — even if the house has a long way to go before it hits the luxury market.

These are some of the hottest trends to watch for this year.

 
Do You Need a Hard Money Lender in Atlanta?
If you’re looking for a hard money lender 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.

 

What is Virtual Wholesaling?

Have you heard of virtual wholesaling? If you’re like most people, you probably haven’t. Virtual wholesaling is essentially buying and selling homes or commercial buildings without having to be there. Most of the time, this is done electronically, and the transactions take place without ever seeing the property in person. The home or building is then turned around and sold quickly to an end buyer.
Advantages to Wholesaling Property
Virtual wholesaling has some advantages such as expanding your reach. If the area surrounding your physical location is short on investment properties, you can branch out. You don’t even have to leave your home or office to make a purchase… although it is a good idea to make at least one trip to see it with your own eyes.

With the ability to buy and sell electronically, it may be worth it to have a few people on your team who are close to the property, and can assess the situation. Having connections with real estate agents or contractors can help you succeed in a new territory.
Disadvantages to Wholesaling Property
If you don’t have eyes in the field—it will be tough to estimate the cost of rehab. You’ll just be looking at photos and videos, and won’t have an actual feel for what needs to be done. This can affect your overall sale and it may cost you in the long run.

Because virtual wholesaling is basically selling your contract (the offer you made on the property), you may need to have some transactional funding to cover the time it takes for the end buyer to wrap things up. It is still your property until the deal closes.
Do You Need a Hard Money Loan in Atlanta?
If you’re looking for a hard […]

REI Resources for Beginners

Not all real estate investors were born into the business. If you’re like most people, you’re probably wondering if you’ll continue this venture after flipping your first home or finding a tenant for your commercial building. Should you decide that real estate investing is your calling, where can you go to learn more?

Most real estate investors didn’t start at the top—they were rookies once, too. In a business where you’re often working alone, how do you find what it takes to be the best?
Network
You’ll learn a lot by networking locally with other real estate investors. It is not uncommon to find networking groups online, packed with people who are looking to meet up and discuss their adventures in real estate. Join a group and be sure to mingle with the seasoned professionals—they’ll be the ones to give you the best tips.
Training & Certificate Programs
There are numerous training and certificate programs online that are geared toward real estate investing. A lot of these programs are self-paced and allow you to learn on your own time. These types of programs and certifications are not a requirement for your profession, but you’ll learn a lot about the industry, as well as the lingo.
Webinars & Podcasts
If you’re not able to enroll in a certificate program, why not watch some webinars online? If you don’t already have a mentor, do a simple web search to learn who the top investors are for your niche. You’ll find that several them offer online webinars or podcasts packed with industry related information. Sign up to listen weekly and learn from the masters of real estate investing.
Do You Need a Hard Money Loan in Atlanta?
If you’re looking for a hard money loan in […]

Take Your Emotions OUT of the Home-Buying Process!

If you’re like most real estate investors, spotting a great deal can get your heart racing and adrenaline pumping. While it can be exciting, you’ll want to make sure you’re not acting like a kid on Christmas morning each time you spot a potential bargain. Calming your emotions and keeping a level head will help you make rational decisions.
If You’re a New REI…
­­In the beginning of your investment journey, you’ll probably find several homes or buildings that speak to you immediately. If you’re able to recognize what is pulling you to that property, you’ll need to ask yourself if this feature would draw the same reaction from an average buyer or tenant. Make sure you’re not making the purchase personal.

Having fond memories of steam engines may cloud your judgment and make you forget that most reasonable people are turned off by living next to train tracks. Just because you find a home or office building fascinating—doesn’t mean it is. Before making a quick bid on a property, make sure it’s something you can market.
List the Pros and Cons
Creating a list of pros and cons and researching what buyers want, prior to making an offer, will allow you some extra time to process the information before jumping in. If you find that the property is still desirable, check out what other homes in the area are selling for to make sure it’s worth it. Putting your emotions to the side will help you in the long run.
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 […]

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