/Home Upgrades
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

7 05, 2018

Houses With Solar Panels Sell For Up To 40% More Than Predicted

By |2018-05-07T13:00:27+00:00May 7th, 2018|Categories: Curb Appeal, Home Improvements, Home Upgrades, Investment, Investment Properties, Investments|Tags: , |0 Comments

If you're in the house-flipping business, you should know that people are willing to pay a lot more for a house with solar panels. Actually, first-time home buyers pay up to 40 percent more than predicted for entry-level homes with solar panels. Most of this stems from millennials yearning for greener amenities. They know that solar panels will save money in the long run. They find it advantageous not to have to have them installed. If they're ready to go when they move in, their energy bills go down right away. In sunny states, many homeowners can even sell off

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

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

1 03, 2018

What Should You Do About Popcorn Ceilings When Remodeling An Investment Home?

By |2018-03-01T13:42:43+00:00March 1st, 2018|Categories: Flipping, Foreclosures, Home Upgrades, Investment Properties, Investments, Leasing Your Property|0 Comments

If you are buying an investment home with popcorn ceilings, consider removing or replacing this textured ceiling treatment.  They date a home and are associated with dirt, dust and asbestos. These old spray-on or paint-on ceiling treatments were once very popular in bedrooms and hallways, but they aren't popular anymore. Sure, they hide imperfections and offer nice acoustical characteristics, but they are not preferred these days. Home buyers equate them to asbestos, dirt and dust, because many contained asbestos and they usually would get painted more often than cleaned! Before trying to remove this treatment yourself, contact the health department.

27 02, 2018

Most Common Problems Identified On A Home Inspection

By |2018-02-27T13:14:11+00:00February 27th, 2018|Categories: Flipping, Home Improvements, Home Upgrades, Investing, Investment, Investment Properties, Investments, Rehab Loans|Tags: , |0 Comments

Have you ever wondered what the most common problems found by home inspectors are? Most problems are relatively easy to fix. So, don't let these be deal breakers if you find an otherwise good investment. Faulty wiring is common, but not usually a costly problem for an electrician. Often they find open junction boxes or wires without wire nuts. Easy fixes. Water on ceilings often terrify purchasers, but if it's caused by faulty plumbing, the repairs can be no big deal. Inspectors commonly find poor drainage causing basement leaks. That's not always hard to fix either. Bad gutters cause a

23 02, 2018

Don’t Ever Skip The Inspection On An Investment Property

By |2018-02-23T13:46:17+00:00February 23rd, 2018|Categories: Flipping, Foreclosures, Home Improvements, Home Upgrades, Investing, Investment, Investment Properties, Investments|Tags: |0 Comments

A home inspection fee starts at around $400 and goes up from there. A quality home inspection is critical, unless you are professionally trained to recognize even hidden damage in a structure. Sometimes you can't see roof damage, outdated electrical system issues, or a hidden water leak. These issues can become very expensive, very quickly. They can be costly, even if you are skilled at DIY home repair. A home inspector looks for proper grading away from the structure, leaks from the septic field, damage to exterior structures and landscaping issues. The inspector checks railings on stairs, notices if downspout

20 02, 2018

New To House Flipping? Spend An Hour With A Professional Interior Designer

By |2018-02-20T16:19:39+00:00February 20th, 2018|Categories: Home Improvements, Home Upgrades, Investing, Investment, Remodeling Tips|Tags: , |0 Comments

If you're new to house flipping, paying for a consultation with an interior designer might be a good investment. Typically, an hourly fee for a consultation from an interior designer is less than $100. In that hour, a designer will throw out a bunch of suggestions for changes they might make to a home you intend to flip. They have lots of ideas. Though they won't be able to design and implement the changes to your investment property in just one hour, the advice they provide during the consultation can help you get started on your own. They may suggest

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