/Construction Loans
24 07, 2018

What Types Of Borrower Requirements Are There For Hard Money Loans?

By |2018-07-24T16:10:26+00:00July 24th, 2018|Categories: Bridge Loans, Construction Loans, Flipping, Hard Money, Hard Money Loans, Home Improvements, Home Upgrades, Income, Investing, Investment, Investment Properties, Investments, Private Lending|Tags: , |0 Comments

Paces Funding is a professional hard money lender, so we have some very specific borrower requirements for hard money loans. Many are shocked to learn that there is actually no credit score requirement for borrowers to meet. Still, borrowers must complete an application. You also must have an executed contract for purchase. Other Borrower Requirements If you are applying for a hard money loan through Paces Funding, you'll need a detailed construction budget for the property from a contractor. If you are the contractor, that's fine, but we will still need a detailed construction budget. We also need to see

16 04, 2018

Dual Functioning AFCI And GFCI Outlets Keep You Up To Code

By |2018-04-16T15:00:28+00:00April 16th, 2018|Categories: Construction Loans, Home Upgrades, Leasing Your Property, New Construction, Remodeling Tips|Tags: |0 Comments

The National Electrical Code requires GFCI outlets in new construction or remodeling of kitchens, garages, laundry rooms and bathrooms. It requires AFCI outlets for new work on kitchens, bedrooms, living rooms and laundry rooms. So, the easiest solution to stay ahead of the game on your income property is to have dual functioning AFCI and GFCI outlets installed all around the living quarters. These handy dual functioning outlets help prevent electrical shock and residential home fires. Insurance companies are please to see these dual functioning outlets and your tenants will be too. If you're merely flipping the property, imagine the

13 04, 2018

Tax Cuts and Jobs Act Allows Business Owners A Tax Break On Roofing Projects

By |2018-04-13T13:00:55+00:00April 13th, 2018|Categories: Business, Commercial, Construction Loans, Income, Investing, Investment Properties, Taxes|Tags: |0 Comments

Consider this: The Tax Cuts and Jobs Act offers business owners a new way to recover costs on projects including roofing projects as long as it's on a qualifying project. What is a Qualifying Project? A depreciable tangible personal property purchased to use to conduct business counts as a qualifying project. The new Tax Cuts and Jobs Act lets businesses avoid devaluation on capital investments with expected lifespans of 20 years or less. So, while some roofs may last longer that 20 years, Everyone knows the lifespan of an asphalt shingle roof is considered 20 years. Plus, the maximum investment

6 04, 2018

2018 North Carolina Building Code

By |2018-04-06T21:17:13+00:00April 6th, 2018|Categories: Construction Loans, Hard Money, Home Improvements, Home Upgrades, Investment Properties, New Construction, New Home Development, Remodeling Tips|Tags: |0 Comments

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

11 03, 2018

Explanation of South Carolina Building Codes Enforcement Officers

By |2018-03-11T15:22:40+00:00March 11th, 2018|Categories: Construction Loans, Flipping, Hard Money, Investing, New Construction, New Homes|Tags: , |0 Comments

  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

7 03, 2018

Know The Signs Of A Problematic Foundation

By |2018-03-07T13:00:25+00:00March 7th, 2018|Categories: Construction Loans, Flipping, Foreclosures, Hard Money, Investments|Tags: |0 Comments

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

17 02, 2018

Is There A Difference Between Drywall And Sheetrock?

By |2018-02-17T20:16:58+00:00February 17th, 2018|Categories: Construction Loans, Flipping, Foreclosures, Home Improvements, Home Upgrades, Investing, Investment Properties|Tags: , |0 Comments

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

12 02, 2018

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

By |2018-02-12T03:43:12+00:00February 12th, 2018|Categories: Construction Loans, Flipping, Foreclosures, Hard Money, Hard Money Loans, Home Improvements, Home Upgrades, Investing, Investment, Investment Properties, Rehab Loans|Tags: , , |0 Comments

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

27 01, 2018

How A Can Of Paint For The Front Door Can Increase Sale Price By $1,500

By |2018-01-27T15:26:39+00:00January 27th, 2018|Categories: Construction Loans, Flipping, Foreclosures, Hard Money, Home Improvements, Home Upgrades, New Construction|Tags: , , |0 Comments

If you earn money flipping houses, every upgrade needs to increase the sale value of your investment. You know you need to paint the front door, because it's weathered looking. But do you know what color to paint it to get the most money from the sale of the house? We do. Zillow analyzed thousands of photos from residential property sales. It looked at specific colors and specific locations on the houses that increased or decreased the average sale price, and by how much. Color makes a huge impact on buyers. Even though it would be easy for the buyer

19 01, 2018

Are You Sure You Want To Pay Retail Price For A New Sink From A Big Box Store?

By |2018-01-19T19:51:49+00:00January 19th, 2018|Categories: Construction Loans, Flipping, Hard Money, Home Upgrades, Leasing Your Property, Rehab Loans|0 Comments

Don’t pay retail price for a kitchen sink when like-new used sinks, sinks from competitively priced online specialty shops, and salvaged sinks save you bundles. Look, if you’re flipping a house, a gorgeous kitchen sink makes a real difference. That doesn’t mean you should pay full price for the sink though. You also don’t have to spend time and gas money hoping for a great find at a Habitat for Humanity store. The online market offers sink basins in remarkable shape at a serious discount.   Used Farmhouse Stainless Steel Sinks On Amazon If you buy a new Kraus farmhouse