A cost segregation study can identify and reclassify your property, with the benefit of shortening the property's depreciation time. What happens when the property's depreciation time is reduced, as you probably know, is that your current income tax obligations also reduce. Using this tool, the IRS allows to to speed up the depreciation on certain things such as carpet or cabinets, and even light fixtures and flooring in a building. That way, you can enjoy tax savings sooner! So why doesn't everyone do a cost segregation? Well, the cost of it is not cheap. So, only investors with significant property
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
If your bank will not approve your construction loan, you may feel as if it’s because of something you’ve done. In reality, however, you are most likely part of a growing trend. We’re going to crunch the numbers for you to identify why you are not alone, and what you can do about it. As the reports from the FDIC show, bank-approved real estate loans in general have been on the decline for years. The third-quarter report for 2015 shows that real estate loans accounted for less than 3 percent of all bank activity – that’s not much, especially when
In some cases, investors and developers are better off taking out a hard money loan than using a traditional loan. So when is a hard money loan better for developers and investors? Typically, hard money is a better choice when an investor or developer: Needs to close quickly and following traditional funding routes would take too long. Often, banks and other traditional lenders take several weeks – if not longer – to process the paperwork on a loan. Has several good opportunities but not enough cash to accept them all. Banks won’t extend credit if it appears you’ll become over-extended.
Paces Funding is Atlanta’s largest hard money lender. We are leading the way with innovative financing solutions for real estate investors. Our staff has processed over 1,000 loans over the past decade and is excited about the new opportunities we will be providing our clients. Over the next six months, Paces Funding will be introducing new real estate financing and investment opportunities. Contact us today to get pre-approved for a hard money loan.