Hard Money Loans | Paces Funding

12 11, 2018

Investing In The Nashville Real Estate Market

Paces Funding2024-06-17T12:42:17-04:00November 12th, 2018|Categories: Business, Commercial, Construction Loans, Hard Money, Hard Money Loans, Investing, Investment, Investment Properties, Investments, Leasing Your Property, New Construction, New Home Development, New Homes, Private Lending|Tags: Nashville, office condos, residential condos in Nashville|

There’s a lot of interest in investing in places like Nashville and other strong secondary markets right now. This is due to economic and cultural factors driving people out of more traditional markets. Plus, when you consider the quality of life in much larger downtowns, it's no wonder smaller, homier downtowns are the next big thing. These secondary markets prime for investing are great tourist destinations, just like Nashville. They are also key areas for music and the arts, just like Nashville. Here's what these secondary markets desperately need: Residential condo units. (Last year, Nashville gained a mere 71 units.)

19 10, 2018

What Is Effective Gross Income?

Paces Funding2024-06-17T12:42:28-04:00October 19th, 2018|Categories: Hard Money, Hard Money Loans, Investing, Investment, Investment Properties, Investments, Leases, Leasing Your Property|Tags: Effective Gross Income, Potential Gross Income|

Have you heard the term, "Effective Gross Income?" If you're starting out in real estate investing in Georgia or the Carolinas, you may hear this term. Also called, "EGI," it's the income that you'd have when you subtract losses of income from vacancy, concessions, model units, legal fees, employees, and bad debt. The reason it's important to know an apartment complex's Effective Gross Income is extremely telling. You don't only want to consider the Gross Potential Income. You'll also want to add in revenue generated from other things like coin-operated laundry, parking, or concessions. In order to determine your property's

27 08, 2018

How Do You Get A Hard Money Loan?

Paces Funding2024-06-17T12:42:42-04:00August 27th, 2018|Categories: Bridge Loans, Commercial, Construction Loans, Hard Money Loans, Home Upgrades, Investing, Investment, Investment Properties, Investments, New Construction|Tags: hard money loan, online loan application|

Are you considering investing in homes to flip them? Considering a hard money loan, but feel unsure about the process? Here's where you will need to start. Check out our hard money lending criteria. If your situation fits our criteria, just fill out the online loan application or download and fax it to us. When we get your application, we will check it out. We can get purchasers money much more quickly than traditional lenders. Keep in mind that we lend up to 65 percent of the ARV value of the collateral. Luckily, if the loan will be used in part for the renovation or

8 08, 2018

Should You Invest In A Historic Home?

Paces Funding2024-06-17T12:45:10-04:00August 8th, 2018|Categories: Hard Money, Hard Money Loans, Investment, Investment Properties, Investments, Leasing Your Property, Tenants|

Historic homes offer significant ambiance and beauty. Obviously there are downsides. The natural materials mean more maintenance. Depending on the time period in which the historic home was built, it could also feature hazards like asbestos or lead paint making DIY repairs a little more risky. Additionally, if the home is located in a historic district, you'll face limitations as to what kinds of upgrades you can even make. Sometimes, even window upgrades are restricted which means that your tenants may face higher heating bills. Still, people who are interested in living in historic homes generally expect that challenge. To

24 07, 2018

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

Paces Funding2024-06-17T12:45:14-04:00July 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: borrower requirement, hard money loan|

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

17 06, 2018

House Flipping: Most Preferred Exit Strategy For Hard Money Loans

Paces Funding2024-06-17T12:46:05-04:00June 17th, 2018|Categories: Flipping, Hard Money Loans|

A few common exit strategies for hard money loans. By exit strategy, we mean, the way you intend to pay off the hard money loan. You absolutely must have at least one exit strategy, and having a back-up strategy is even better. So, what is our clients' favorite exit strategy? The most preferred means to pay off a hard money loan is to sell the property for a nice profit and use that income to pay off the hard money loan. See, hard money loans are the perfect short-term solution for people who need money fast to take advantage of

16 06, 2018

When To Walk Away From A Potential Real Estate Investment

Paces Funding2024-06-17T12:46:07-04:00June 16th, 2018|Categories: Flipping, Hard Money, Hard Money Loans, Rehab Loans, Tenants|Tags: Investment Properties|

Successful real estate investors know when to walk away from a potential real estate investment. They know how to spot the signs of a bad investment. Every deal isn't going to be worth the time, money and effort. So, here are some tips to know when to walk away from a potential real estate investment! Make sure your income potential is immediate. Don't invest for some "huge payout" at some indefinite date in the future. Lack of income documentation on a rental property. If a seller is selling an existing rental property, make sure you see proof of rental rates,

7 06, 2018

Hard Money Loan Property Requirements

Paces Funding2024-06-17T12:46:25-04:00June 7th, 2018|Categories: Hard Money, Hard Money Loans|Tags: Hard Money Loan Property Requirements|

Interested in learning more about the hard money loan property requirements? You've come to the right web page. As a legitimate hard money lender, we have specific hard money loan property requirements. Keep in mind, we are a direct hard money lender. We are not a brokerage service. So, we know exactly what we're talking about in the specifics of these residential guidelines. Hard Money Loan Property Requirements If you're interested in a hard money loan to flip a house or for another residential investment purpose, the following are our hard money loan property requirements. First mortgage lien only Loans

31 05, 2018

Real House Flipping Is Not Like The Reality TV Shows

Paces Funding2024-06-17T12:46:27-04:00May 31st, 2018|Categories: Developers, Flipping, Hard Money Loans, Investment, Investment Properties, Investments|Tags: House Flipping, reality TV shows|

If you're a professional house flipper, you might get frustrated by the reality TV shows. We all know that real house flipping is nothing like how it's depicted in the reality TV shows. For example, no handy investor picks from a pool of three fixer-upper homes. A great deal of thought is put into investing. Dozens, sometimes hundreds of houses are considered before choosing a home to flip. Market conditions and local dynamics are taken into consideration. Investors even take into consideration local ordinances, difficulty of permit processes compared to other areas, and the velocity of listed homes. Realistically, investors

14 05, 2018

Atlanta: One Of Top 10 Metros With People Willing To Be ‘Super Commuters”

Paces Funding2024-06-17T12:46:48-04:00May 14th, 2018|Categories: Flipping, Hard Money Loans, Investing, Investment, Investment Properties, Investments, Leasing Your Property|Tags: Atlanta, Super Commuters|

If you're a property investor, you should know, people are willing to be "super commuters" just to work in Atlanta. People seek cheaper housing away from the inner city, and are willing to drive for over 90-minutes just to work in the city. The trend is similar all across the nation, but Atlanta has an increasingly high number of super-commuters. That means that if you can snag a home outside of Atlanta, it might still be a good investment. A whopping 4 percent of Atlanta's working population commutes great distances to work. The city ranks ninth on the list of

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