Foreclosures | Paces Funding

16 12, 2021

3 Simple Ways to Find Distressed Properties

Paces Funding2024-01-09T17:20:07-05:00December 16th, 2021|Categories: Foreclosures, Real Estate, Tax Foreclosures, Tips|Tags: 3 Simple Ways to Find Distressed Properties, Bank-Owned Property, Finding Distressed Properties, Property|

If you’re a real estate investor looking for the next great deal, you may be interested in finding a distressed property. But other than driving around town looking for the perfect place (you know – one that’s got peeling paint, a stack of newspapers on the porch and multiple notices stuck to the front door), there are three super-simple ways to find distressed properties. This guide explains. 3 Simple Ways to Find Distressed Properties Looking for a distressed property is easy if you: Check tax records Search public records for delinquent mortgages Network through probate court Here’s a closer look

6 12, 2021

What is a Distressed Property?

Paces Funding2021-12-21T05:25:26-05:00December 6th, 2021|Categories: Foreclosures, Real Estate|Tags: distressed properties, Foreclosures, Property|

If you’re like many people, you know one of the hardest aspects of real estate investing is finding distressed properties that are actually a good fit for you – but if you’re new to real estate investing, you may not know what a distressed property is. So what is a distressed property, and why would you want one? This guide explains. What is a Distressed Property? A distressed property is a property – typically a single-family home, duplex, triplex, fourplex or other multi-unit property when it comes to real estate investing – that the current owner can’t or won’t maintain.

11 09, 2020

Texas Flipper Discovers 40K Gallon Pool Beneath Backyard Junk at Hoarder House

Paces Funding2020-09-13T23:06:08-04:00September 11th, 2020|Categories: Cleaning, Flipping, Foreclosures, Investment, Investment Properties|Tags: Blog, Fix and Flip, Flip, Flipping, Interesting, News, News Story|

When 35-year-old house flipper John Reynolds purchased a dilapidated property just weeks before it was slated for demolition he had no idea that the end result would be enough to make his head swim. The 1950s home had been owned by a hoarder for 20 years, and it sat vacant for more than a year after the homeowner had passed away. Reynolds purchased the property from the local county authority for $20,000. While his primary focus was on the inside of the home he noted that something was off about the backyard, aside from the fact that it was wildly

3 06, 2019

Do You Have Different Exit Strategies For That Investment Property You’re Eyeing?

Paces Funding2024-06-17T12:40:55-04:00June 3rd, 2019|Categories: Due Diligence, Flipping, Foreclosures, Hard Money, Hard Money Loans, Home Improvements, Investing, Investment, Investment Properties, Investments|Tags: exit strategies, House Flipping, Rental Units, renting|

When flipping a house, your end goal is to make a comfortable profit, but sometimes things happen that are outside of your control. You will still need to plan for these things. That sometimes means having a different exit strategy than simply selling the house for a large profit quickly. If you aren't guaranteed a profit, will you choose another route? Do you have alternate exit strategies planned? Here are some things that could happen that could affect your plans to flip a house quickly at a profit: The economy could change. Financing rules could be changed. The market could

23 05, 2019

Bigger Pockets Suggests Hard Money Lenders As Great Source Of Funding For House Flippers Starting Out

Paces Funding2024-06-17T12:41:00-04:00May 23rd, 2019|Categories: Business, Due Diligence, Foreclosures, Hard Money, Hard Money Loans, Income, Investing|Tags: days on the market, Hard Money Loans, ROI, Taxes|

Bigger Pockets is a huge online resource that helps ordinary people build wealth through real estate. It's an incredibly popular resource because of it's free tools and information. Bigger Pockets recently suggested that hard money lenders like Paces Funding, is a great source of funding for home flippers for investors who know they can flip a home quickly. Check out what the article said. Here's an excerpt. "This source of OPM can be especially useful if the house you are flipping can be completed in a very short period of time. Like any other kind of loan, the shorter you

4 04, 2019

Flipping Homes Is More Popular Than Ever – Market Share Surpasses 2006!

Paces Funding2024-06-17T12:41:34-04:00April 4th, 2019|Categories: Foreclosures, Hard Money, Home Improvements, Investment, Investment Properties, Investments, Rehab Loans|Tags: adding value to a home, home flipping trends, home repair, House Flipping, owner occupied|

Home flipping sure isn't the same as it used to be, but it's also more popular than ever. See, there are more home flippers out there than almost ever before, according to research from CoreLogic, but today's home flippers are holding onto properties for longer. Interestingly, home flippers are holding into homes for longer in part so that it can be considered owner-occupied and eligible for capital gains exceptions. Obviously, you can only occupy one home as your primary residence, but this trend is adding to the flipping scene. In the last quarter of last year, home flipping accounted for

24 02, 2019

Check Downspouts & Gutter When You Buy A New Rental House

Paces Funding2024-06-17T12:41:42-04:00February 24th, 2019|Categories: Construction Loans, Foreclosures, Home Improvements, Home Upgrades, Investment Properties, Leases, Leasing Your Property, Rehab Loans, Remodeling Tips, Short Sales, Tenants|Tags: clogged gutters, DIY projects, downspouts, gutters, Landlords, protecting your foundation, rentals, renting your property, water in the basement|

When you buy a new house that you intend to rent out, be certain to check the downspouts. These get overlooked too frequently and can cost landlords substantially. Attention to these should be part of your typical maintenance. See, for every inch of rain we get, our rooves divert around 600 gallons of water into our downspouts. You must make sure that this water diversion is working the way it should. Know this ahead of time, because renters often don't bother to report on these like this, especially if it doesn't affect them. Check Gutters For Clogs Clogged gutters throw

20 02, 2019

A Basement Water Alarm That Can Alert You To Water In The Basement Of A Rental

Paces Funding2024-06-17T12:41:43-04:00February 20th, 2019|Categories: Foreclosures, Hard Money, Investing, Investment, Investment Properties, Investments, Leases, Leasing Your Property, Short Sales, Tenants|

If you have a rental home, you have to be proactive to protect your investment. You can't rely on tenants to tell you when something is up. Too many times, if it doesn't pertain to them, they won't inform you of problems at your rental house. Many people have basement water alarms and sensors that alert them to water in their basements. These work perfectly, because they get alerted, and then fix the problem and save their belongings. These don't work as well for landlords, because sometimes tenants will avoid disclosing issues in your home in order to prevent you

19 02, 2019

Why The Luxury Market Might Be Your Best Investment For House Flipping Right Now

Paces Funding2024-06-17T12:41:44-04:00February 19th, 2019|Categories: Business, Due Diligence, Flipping, Foreclosures, Hard Money, Hard Money Loans, Home Improvements, Investment, Investment Properties, Investments, Rehab Loans, REIs, Short Sales, Taxes|Tags: benefits of flipping luxury homes, flipping luxury homes, Florida house flipping, Florida luxury home market, House Flipping, house flipping market, luxury home flipping, luxury homes in Florida|

House flippers focusing on flipping luxury homes are a part of a rising market. While non-luxury houses aren't flipping as well, this market, if you can afford it is still doing well. Consider that the National Association of Realtors showed that sales of existing homes declined over ten percent in the last year. Starter homes, which are usually a common project for house flippers, are part of a decreasing market. Sales are just down among starter homes. Some of that is because of the higher interest rates too. Many people who house flippers would normally try to sell a starter

2 10, 2018

Issues To Look Out For With Distressed Properties

Paces Funding2024-06-17T12:42:32-04:00October 2nd, 2018|Categories: Flipping, Foreclosures, Home Improvements, Investment Properties|Tags: distressed properties|

Distressed properties are often purchased in "as is" condition. The seller doesn't offer any kind of warrant. Of course, you know that you should beware of properties like these. Still, distressed properties for sale often have a huge potential for making a profit. So, if you decide to purchase a distressed property, just be aware of some hidden problems. Keep a close eye out for termites and carpenter ants. Even if they're long gone, they may have left behind enough damage to be a serious issue. Look for rotten wood, obviously. But also check for thin tubes of mud and

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