Hard Money

When To Walk Away From A Potential Real Estate Investment

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, vacancies and property profits.
The property is in a bad neighborhood. Keep your eye on properties where the neighborhood values are expected to increase. A good property in a bad neighborhood is not a good investment.
The property is outside of the country. If you’re still looking for tips on investment properties, you likely don’t have enough experience to do well investing in international real estate.
Large upfront cash requirements. Know your budget. A killer deal means nothing if you don’t have a means to renovate the property so that you’ll see a return on your investment.

Are You Looking for a Hard Money Loan to Flip a House Or Buy A Rental Property?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, […]

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    Atlanta Ranked Number 10 For Extremely Healthy Real Estate Market

Atlanta Ranked Number 10 For Extremely Healthy Real Estate Market

Atlanta’s real estate industry is booming. If you’re a property investor near Atlanta, you probably already know this. Atlanta was ranked number 10 for its healthy real estate market. See, WalletHub compared over 170 cities in the United States. Though Atlanta took 69th place among those cities for job opportunities and competition, the real estate market still thrives!

If you’re an investor or if you flip houses, Atlanta can be one of the most profitable cities to focus on. Besides WalletHub’s ranking, this year, Forbes and Local Market Monitor listed Atlanta among the cities where growth appears most sustainable. The Atlanta-Sandy Springs-Marietta metro area ranked seventh in a list ranking the best cities for investment real estate. Forbes found the three-year population growth at 4.9 percent and the one-year home price growth at eight percent! The three-year price growth forecast for the metro area? A whopping 24 percent!

Plus, the good news for property investors is that home in the Atlanta area are undervalued right now by seven percent when compared to the historic ratio of price and local income. All of these factors make the Atlanta area a prime market for real estate investors.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

Call us at […]

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 up to 65% of ARV
Loans from $20,000 to $3,000,000
Multifamily properties up to four units
Borrower-paid appraisal of ARV
Mortgagee title policy required at closing
Builder’s risk policy naming Paces Funding mortgagee as an additional loss payee at closing
A Paces Funding selected closing attorney

Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

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 […]

Heads Up About Fulton County Property Tax Bills

If you’re thinking about an investment property in Fulton County, you should be aware that the Fulton County Board of Assessors announced a 25 percent median increase in the year’s home appraisals. Last year, Fulton County residents complained about drastic assessment increases. After those complains, Fulton County decided to keep assessments the same as the year before. Still, that won’t work this year. See, according to law, tax assessments must be close to market value and Fulton is doing very well.

Still, in Fulton County, the board of assessors did tell the public they would investigate properties that might have been wrongly appraised. In total, the board will have to review over 80,000 properties though. Tax bills will arrive any day now.

Still, just this week, WSB-TV Atlanta reported that Fulton County now faces legal action. The county is accused of “sales chasing,” or raising the assessment to its sales price while leaving other properties unchanged. Reportedly, one lawyer is considering a class action lawsuit over the matter.

There are great investment properties in Fulton County. That is certain. Just be prepared ahead of time for the possibility that taxes may be higher than you’ve anticipated.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten […]

Atlanta’s Entry-Level Homes In Extremely High Demand

It’s a great time to flip houses in Atlanta: Atlanta’s entry-level homes are in extremely high demand. Across the nation, the housing inventory is historically low. Plus, over half of the available homes are consider on the high end price-wise.  A mere 22 percent of homes on the market right now are considered entry-level homes. In Atlanta, entry-level homes are even less available. A mere 13 percent of all homes in Atlanta are entry-level homes.

Keep in mind that many homes out there are out of reach for first-time home buyers, because they can’t pass an inspection. Sometimes, it’s for small issues that professional investors can easily repair.

Let’s say that a young family wants an entry-level home. The home buyers have one daughter, are veterans and qualify for a VA backed loan. The VA loans is the only way they’re going to be able to get into a home, because VA loans come with no down payment and no PMI needed. Their debt-to-income ratio would be too high if you include PMI into the monthly payment. After all, one of them just took two years off to stay home with the child and they bought a new, safer family car. Though both are working now, they need two years of income history from both of them to qualify. So, they really need that VA backed loan. The problem is, the only homes they can find have something wrong with them that won’t pass the VA inspection. Some are missing fascia. One has a broken broken window. One home simply needs a new furnace. Regardless, they can’t get into those houses with their VA loan. So, that means they can’t get into those houses at all. […]

By |May 11th, 2018|Hard Money|0 Comments

Southwest Atlanta May Be In For Serious Economic Growth

 

Just a heads up to our property investors following out blog: Southwest Atlanta is likely about to experience some expanded economic activity along the Westside Trail and the are around the transportation corridor.

See, Atlanta Beltline officials just announced a new affordable housing project in Adair Park. Amenities for the $15 million project include a picnic area and a community garden. These days renters flock to developments with community gardens, so it’s a smart plan. Other investors are also interested in the vicinity.

Check out properties around Beltline’s Westside Trail and Urban Farm and near MARTA’s West End station. The new plans for the area is expected to generate jobs and significant economic activity. This might be the best time to pick up a rental house as an investment property. No cash on hand? That’s OK. Hard money loans are where we come in. So, if you find the perfect investment property, contact us right away!
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

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 […]

Property Tax Relief In The State of Tennessee

Let’s talk about the State of Tennessee property tax relief program. Tennessee offers tax relief to certain eligible homeowners for all or part of paid property taxes. The tax relief isn’t an exemption. Homeowners still get a property tax bill and are still responsible for paying property tax each year. The amount of tax relief varies. The amount of tax relief issued by the State of Tennessee depends on the property assessment and the county or city tax rate. It might not be the same every year. Most property investors know, but this tax relief is only available for people’s primary residences. It’s not applicable for investment properties or second homes in the state.
Apply For Property Tax Relief
To apply for tax relief, homeowners can get an application from the local county trustee’s office of the city collecting official’s office. The property relief voucher is sent when the property bill is sent. In order to get relief, the homeowner has to actually present the voucher to the collecting official before the deadline date and pay any balance due on the property.
State of Tennessee Property Tax Freeze Program
Besides for the tax relief program, homeowners in Tennessee that are 65 years old or older by the end of the year might qualify for the Property Tax Freeze Program. This makes the amount of the property tax fixed, even if there is a rate increase! This program is also only for a primary residence, so it can’t be used for one of your investment properties.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the […]

By |April 30th, 2018|Hard Money, Taxes|0 Comments
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    Standard Deduction Increases for 2018, Freeing Up Some Extra Cash For Renters, Home Buyers

Standard Deduction Increases for 2018, Freeing Up Some Extra Cash For Renters, Home Buyers

Just a heads up: This year, changes to the federal tax law bring increases to the standard deduction that people can use when filing their 2018 taxes. Most Americans, including renters and home buyers of your investment properties claim the standard deduction, avoiding the hassle of itemizing on their federal tax returns every year. For 2017, the standard deduction for a married couple was $12,700.

Next April, the standard deduction for the same couple will be $24,000. Generally, this means a lower tax liability for the average renter or home buyer. Additionally, the Child and Family Tax Credit doubles per child to $2,000. Plus, the actual payable (refundable) portion goes up to $1,400 per child! This means a potential refund check for some who have not previously gotten refunds, even if they didn’t actually pay federal taxes. On top of that, some people with dependents (such as children older than 17) will see a tax credit of an extra $500.

In many cases, that will mean cash on hand and the ability to finally cover moving expenses or down payment costs on a mortgage. Obviously, some will pay off debt or take a vacation, but many others will use the money to finally purchase a home or move into a better rental. So, keep that in mind as you check out potential investment properties this year.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike […]

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    U.S. Conference of Mayors Projects Atlanta Population Growth: Nearly 9M Residents Within Next Three Decades

U.S. Conference of Mayors Projects Atlanta Population Growth: Nearly 9M Residents Within Next Three Decades

Within the next three decades, Atlanta’s population is expected to be nearly nine million people! Projections from a U.S. Conference of Mayors believe that Atlanta will leapfrog over large metros like Philadelphia and D.C. to become the U.S.’s sixth largest city.

Projections for our city indicate that Gwinnett will become the largest county in the region. Fulton County would come in second. Also, the Hispanic population is expected to more than double. Meanwhile, residents age 65 and older is expected to more than triple!

This indicates that Atlanta may be a great choice for investors. Investment properties for both residential and commercial needs will be in demand. With the population growing now, don’t miss out. If you need a hard money loan to get a property into tip top shape before you begin renting it out, we’d love to help you out. We are a legitimate and direct hard money lender. We aren’t a broker agency.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

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 […]

2018 North Carolina Building Code

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 for the 2018 NC Codes are the 2015 International Codes,” reports the Office of State Fire Marshal.

You’re not required to wait until the code is fully effective to use it though. See, any code amendment can be used as an alternate set of rules before its effective once it clears Rules Review, of the user requests to use it.
Are You Looking for a Hard Money Loan to Flip a House?
Paces Funding is a hard money lender offering hard money loans to purchase and renovate non-owner occupied residential and commercial properties throughout the Atlanta, Nashville, Florida, or the North and South Carolina metropolitan areas. Our application process for hard money loans is easy. Just fill out this very simple online form and you will be contacted shortly. Unlike other lenders, the window between applying and funding is very small. We have funded properties in as a little as one day, but typically funding hard money loans takes about seven to ten days.

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 […]

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