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Great Investment or Money Pit? Watch for These Two Problems

 

Currently the housing market offers great buys for investors. However, sometimes a house is not as it appears. Naturally, you want houses that are in good condition, or need a small amount of work, to be able to make a fast turnaround. Unfortunately, many times something is not discovered until after the purchase is completed.

A foundation is the basis of any house and must be in excellent condition if you expect to avoid spending a great deal of money having it replaced or repaired. When looking at the house check the foundation for cracks, crumbling cement or other conditions that will indicate a problem.

Mold in the crawl space or other locations in the house will indicate a leaking water pipe. Molds gradually destroy the things they grow on. They can damage building materials, especially under the floor. In addition, studies have shown it can cause the occupants health problems.

Having a licensed home inspector is a good investment to avoid expenses that can often cause a home purchase to become a money pit.
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.

Why You Need a Realtor® to Sell Your Flip

 

Before you buy an investment property, you need to think ahead–especially about hiring a Realtor® when it’s time to sell.

While it may be tempting to just put up a sign outside and a posting online, there are a few reasons why you need to hire an expert in the field.

First, Realtors are trained in real estate procedures and protocol. While DIY real estate forms and kits are available, most aren’t specifically written for Georgia… or any special situations that may arise. Bringing a Realtor on board will help ensure a smooth transaction.

A Realtor can also help you sell quickly and at the right price. Your agent will know how to make the property as attractive as possible to prospective buyers, and he or she will be able to effectively market it for you.

Working with an agent is a lot like hiring the right help around the house, too. You wouldn’t tackle the plumbing yourself or start rewiring the electrical system unless you knew exactly what you were doing, right? The same goes for selling the house.
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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    Should You Leave Playground Equipment at an Investment Property?

Should You Leave Playground Equipment at an Investment Property?

 

If you’re considering selling your home, you may be wondering if you should get rid of the swing set in the backyard. While a playset won’t necessarily hinder the sale of your home, you’ll want to make sure it’s in excellent condition.

The playground equipment may be an exciting amenity to a family with young children. If the neighborhood is bustling with kids, fix it up, make sure it’s structurally sound, and prepare to leave it.

At the same time, if everyone else on the block is at retirement age, a swing set may not be an excellent selling feature. Home buyers will have to think about removing the play set themselves, and it may sway their opinion of your home.

Believe it or not, play structures and basketball hoops have been a major reason for dispute between a home buyer and seller. In a home sale, there is often confusion about what stays and what goes.

A large play set can sometimes be considered a fixture or real property if it is attached to the ground. Some buyers plan for you to leave it; others hope it will be disassembled on closing day.

If you’re removing the structure, doing so before you even show the home is your best bet. If you’re not able to do so, make sure this condition is disclosed to all interested parties right away.
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 […]