Hard Money Loans | Paces Funding

6 01, 2022

Why Use a Hard Money Loan to Buy a Distressed Property?

Paces Funding2021-12-22T17:30:11-05:00January 6th, 2022|Categories: Hard Money, Hard Money Loans|Tags: Distressed Property, Hard Money, hard money loan|

If you’re like many people, you know that financing a distressed property can be tough – that is, unless you use a hard money lender. Here’s what you need to know. Why Use a Hard Money Loan to Buy a Distressed Property? Conventional lenders often can’t approve investors quickly enough to pounce on great deals, and that’s true whether you’re buying a distressed property or any other property. This leads to many investors working with hard money lenders to buy these – and other – properties. But there are other reasons people use hard money to buy distressed properties, too.

22 08, 2021

What is an Asset-Based Lender?

Paces Funding2021-08-11T19:49:03-04:00August 22nd, 2021|Categories: Hard Money, Hard Money Loans|Tags: What is an Asset-Based Lender?, Why Choose an Asset-Based Lender?, Will You Really Have the Cash to Buy Right Away?|

If you’re a real estate investor – or if you’d like to become one – you need to know the differences between asset-based lenders and traditional lenders. This guide explains. What is an Asset-Based Lender? An asset-based lender is a lender that gives business loans using a property as collateral. Generally, these lenders only work with real estate investors; they’re not here to help people become homeowners – at least not directly. Asset-based lenders give investors the money they need to improve a property that the investors intend to turn around and sell. Related: 3 critical tips to read before

11 08, 2021

3 Common Questions About Hard Money Loans

Paces Funding2021-08-11T19:37:08-04:00August 11th, 2021|Categories: Hard Money Loans, Investment Properties|Tags: Can I Use the Money to Make Repairs?, Hard Money Loans, How Long Do I Have Before I Have to Repay a Hard Money Loan?, How Long Does it Take to Get a Hard Money Loan?|

If you’re like most people, you’ve heard of hard money loans – but what are they, exactly, and could you use one to purchase an investment property? This guide explains. 3 Common Questions About Hard Money Loans Hard money loans are ideal for many investors, but if you’ve never explored your options before, you likely have more than a few questions about them. This guide addresses the top three: How long does it take to get a hard money loan? How long do I have before I have to repay a hard money loan? Can I use the money to

22 10, 2020

2 Real Estate Rumors About Iconic Buildings: True or False?

Paces Funding2020-10-19T21:21:14-04:00October 22nd, 2020|Categories: Business, Hard Money, Hard Money Loans, Real Estate, Tips|Tags: Blog, Flipping, real estate, renting, Rumors, Secret Apartment|

You might be a student of house flipping and real estate, or even a seasoned pro, but just like most industries there may be certain tales you’ve heard—stories that sound a little farfetched, but intriguing nonetheless. In a list published this month by The Close, a website dedicated to providing insights to real estate agents and brokerages, some curious real estate rumors are discussed. Are they true, or false? Here are a couple. True or false: There's a secret apartment atop the Eiffel Tower. A room with a view? Rumor has it that the designer and builder of

27 09, 2020

3 Inexpensive Ways to Trick-Out Your Flip

Paces Funding2020-09-28T16:45:53-04:00September 27th, 2020|Categories: Flipping, Hard Money Loans, Home Improvements, Home Upgrades, Investments, Remodeling Tips, Tips|Tags: Blog, buy and sell, Flip, flip a house, Flipping, Home Improvements, Home Upgrades, Interior Design, remodel, Tips|

Flipping a house can be an expensive undertaking. But every improvement to your property doesn’t have to cost a lot to impresses buyers. Consider these three ways to trick-out your flip and win the hearts of buyers without spending a ton of cash. Spruce-Up Your Stairs If you want to customize the wooden stairs inside of your flip painting on a runner can do just the trick. You can give your future homeowner the look of carpeted steps without all of the worrisome maintenance. When choosing a design consider establishing a theme throughout your home. For instance, if your kitchen

16 10, 2019

Do You Need Documentation for a Hard Money Loan?

Paces Funding2019-10-07T22:47:37-04:00October 16th, 2019|Categories: Hard Money, Hard Money Loans|Tags: Appraisal, Budget, Documentation, Government-Issued ID, Hard Money Loans, Rehab, Title Insurance, Title Report|

For many people, a hard money loan is the best way to go - especially when it comes to real estate investing. That's because hard money loans fund quickly (sometimes in as little as 48 hours), they're easy to deal with, and they're short-term, enabling the borrower to pay them off quickly and move on to the next investment property. But do you need documentation for a hard money loan, or can you walk right into an office and borrow tens of thousands of dollars with little or no paperwork? Here's what you need to know. Do You Need Documentation

13 10, 2019

Are Hard Money Lenders “Loan Sharks”?

Paces Funding2019-10-07T22:40:17-04:00October 13th, 2019|Categories: Hard Money, Hard Money Loans|Tags: After-Repair Value, Hard Money Loans, Interest, Investment Loans, Loan Sharks, Loan Terms|

If you're like many people - especially those just starting out in real estate investing - you've heard all kinds of things about hard money lenders. Some of them are myths, and some of them might be true (or at least half-true). But are hard money lenders what you'd call "loan sharks"? Here's what you need to know. Are Hard Money Lenders "Loan Sharks"? Hard money lenders are definitely not loan sharks. Check out the official definition of a loan shark: Hard money lenders are typically well-established and reputable, and they certainly don't do anything illegal or charge extremely high

10 10, 2019

Are Hard Money Loans More Expensive Than Conventional Loans?

Paces Funding2019-10-07T22:32:47-04:00October 10th, 2019|Categories: Hard Money, Hard Money Loans|Tags: Closing Costs, Costs, Expenses, Hard Money Loans, Interest|

If you're like many people who have never borrowed hard money before, you've probably heard a few things about it - especially if you're interested in real estate investing. Some of those things might be complete myths, but some are likely true. But are hard money loans more expensive than conventional loans are? Here's what you need to know if you're thinking about borrowing hard money. Are Hard Money Loans More Expensive Than Conventional Loans? If you're looking at the numbers, a hard money loan seems more expensive than a conventional loan does. That's because hard money loans typically have

7 10, 2019

3 Hard Money Loan Myths That a Lot of People Believe

Paces Funding2019-10-07T22:24:44-04:00October 7th, 2019|Categories: Hard Money, Hard Money Loans|Tags: Borrowers, Documentation, Due Diligence, Hard Money Loans, Myths, Risky Deal|

If you're like many people who have never taken out a hard money loan, you've probably heard all kinds of myths about them - but here, we'll cover three of the most common and debunk them so you know all the facts. 3 Hard Money Loan Myths That a Lot of People Believe Some of the most common myths about hard money loans include: You don't need any documentation for a hard money loan Only people who are desperate take out hard money loans Hard money lenders aren't as careful as big banks are Here's a closer look at each

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

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